de | cn | ru

Market News

UK House Prices Post Largest-Ever Monthly Fall: Rightmove

Dec 17 2012

House prices in the U.K. posted the steepest decline on record in December, but remained 1.4 percent higher than a year earlier in 2012, a survey by Rightmove showed Monday.

New seller asking prices fell 3.3 percent month-on-month in December to GBP 228,989. This was the largest decrease ever recorded by Rightmove. In November, prices were down 2.6 percent after 3.5 percent jump in October.

House prices are expected to continue its slow recovery in 2013 supported by greater competition among lenders and steady increase in affordability of house prices, Rightmove said. The property website forecasts 2 percent rise in 2013.

Rightmove pointed out that with inflation running at more than 2 percent, housing is becoming cheaper in real terms. Meanwhile, new seller shortage will continue to underpin prices.

"December is the most likely month for sellers coming to market to get very real about the price they ask for their home," said Miles Shipside, Director and housing market analyst at Rightmove.

Rightmove said the outlook for 2013 is "slightly more positive", though the market will remain patchy. According to Shipside, the reasons for a slightly more optimistic market next year included apositive combination of lenders with greater funds to lend and buyers with a five-year itch to move.

"Increased competition among lenders and the slow but steady increase in affordability of house prices may help some to finally move on," he added.

Demand for housing is expected to rise further next year. Rightmove said that pent-up demand remained high, fuelled by frustrated home-movers whose moving ambitions have been on hold since the start of the credit-crunch in the autumn of 2007.

Supply, however, looks set to remain constrained in 2013 with new listings likely to be around the 1.2 million level seen in each of the last three years, the report said.

Annually, the national asking prices grew 1.4 percent in December. House prices in London declined 4 percent month-on-month to GBP 464,398. Year-on-year, prices in the capital city were up 6.8 percent.

The material has been provided by Instaforex Company -
TAGS: UK  House  Prices  Post  Largest-Ever  Monthly  Fall:  Rightmove   

Related forex news

Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
$100 Review Website

More Forex Market News

Germany will block Facebook's Libra

Sep 18 2019 17:13:56

This time it was the German government, who delivered yet another blow to Libra, the Facebook backed stable coin, that is planned to be launched in 2020. Read more

Facebook assures central banks not to fear Libra

Sep 17 2019 17:23:34

Facebook reassured world central banks that Libra, the new stable coin the social media giant plans to launch in 2020, will not replace sovereign currencies like the U.S. dollar or the Euro, and will not threaten the central banks’ control over money creation. Read more

Philippine police arrests 277 employees in connection to a forex scam

Sep 16 2019 17:33:44

Acting on a tip from the Chinese intelligence agency the Philippine police has arrested 277 Chinese nationals working for online forex and crypto scammers. Read more

FCA prepares for a no deal Brexit

Sep 12 2019 17:05:09

The Financial Conduct Authority (FCA) in the UK has opened an emergency phone line (+44 800 048 4255), as well as a series of specialized information websites that are intended to help the financial sector cope with the possible consequences of a no deal Brexit. Read more

Police in Taiwan warns of forex scams on dating websites

Sep 11 2019 14:08:40

The Criminal Investigation Bureau (CIB) in Taiwan warns of a new wave of investment scams on dating and chat websites, featuring a case of a man who lost over 4 million Taiwanese Dollars (128 000 USD). Read more

The Marshall Islands launches a sovereign crypto coin

Sep 04 2019 16:57:05

The Marshall Islands, the small Pacific nation that is also a favorite offshore destination for many brokers that prefer to avoid the strict regulations in Europe, the U.S. Read more

Dutch authorities to regulate all crypto dealing firms

Sep 03 2019 13:43:03

The Dutch Central Bank announced new rules for all companies dealing with crypto currencies that will take effect from January 2020. Read more

Ex-BinaryBook employee sentenced to a year in prison in the US

Sep 02 2019 14:26:10

  Israeli binary options operative Lissa Mel pled guilty to her role in $145 million scam scheme, and was sentenced to a year in prison and $288 024 in restitution to victims by a US federal court previous week. Read more

SEC settles with Bitqyck and its founders accused of $13m fraud

Aug 30 2019 12:53:53

  The US Securities and Exchange Commission (SEC) has settled with founders of crypto exchange Bitqyck over an alleged $13 million fraud. Bitqyck’s founders Bruce Bise and Sam Mendez will pay a civil penalty of $8.5 million on top of disgorgement and prejudgment interest. Read more

Forexbit ends up on FCA's warning list

Aug 29 2019 11:34:29

The Financial Conduct Authority (FCA) in the UK added Forexbit to its long list of companies that illegally target British customers and offer financial services without a license. Read more

de | cn | ru