Nov 09
2
Graph Of The Week
This week’s graph comes from the latest Hometrack report (published today).
It shows that buyers are finding it much more difficult to get sellers to cut the asking price.
This trend is complemented by our own Asking Prices & Affordability Index - the October edition shows that asking prices have risen by £6k or 2.8 per cent over the past six months.
Can these rises be sustained? We’d be interested in hearing your views on where the housing market will go next.
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The shape of the above curve since Jan ‘0 clearly looks a parabola which has more or less reached its peak, and suggesting that the minor correction is about over. The correction was no doubt partly due to the stamp duty concessions now about to end. Henceforth, the big downward trend looks likely continue, especially thanks to rising unemployment, and deepening recession due to rising oil prices and increasing taxes.