Rightmove says there's a new property boom. I disagree...

The Property Nomads Podcast

Rob looks at the recent announcement by Rightmove regarding potential housing boom areas for 2025, contrasting it with the current decline in property prices in London. He delves into the latest data from Halifax, which shows a year-to-date increase of 3.3% in UK housing prices, and explore the implications of a 26% rise in new property listings compared to the previous year.

KEY TAKEAWAYS

• Rightmove has reported a significant increase in property listings, claiming a new property boom is underway, with listings up by 26% compared to the same time last year.
• The increase in listings does not necessarily indicate a property boom; it could reflect various factors such as landlords selling due to economic pressures, homeowners testing the market, or seasonal trends following the quieter months of November and December.
• The Southeast has the highest number of new listings, followed by the East of England and the Southwest, indicating regional variations in market activity.
• The ongoing imbalance between high demand for housing and low supply is a fundamental driver of price increases, as evidenced by the Halifax reporting a 3.3% year-on-year increase in housing prices.

BEST MOMENTS

"Rightmove have announced some housing boom areas for 2025... it's interesting to see that Rightmove have, to an extent, almost countered that with their latest information."

"They do say that listings... have jumped by 26% in comparison to this time last year."

"If there are a lot more homes hitting the market, that doesn't necessarily indicate the start of a new property boom."

"When you're dealing with the fundamentals of supply and demand, that's what happens. Weak supply, big demand, demand outstrips supply, prices go up."

"Take it with a pinch of salt when you read that there could be a new property boom happening."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/homeandproperty/rightmove-reveals-property-boom-and-regions-racing-to-put-homes-on-the-market/ar-AA1x5jXc?ocid=winp2fptaskbar&cvid=d4982e65c2b64cd6c5f25e99b72e7c38&ei=24

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