rantnrave, on 21 February 2012 - 01:19 PM, said:
In recent years, Rightmove have announced a rise in their asking price index each January. However, last month, they reported a fall in their January 2012 data. So, it's not really a surprise that the February number saw a bounce back from that.
Adding Jan & Febs numbers for the last few years shows that this latest data is more than likely a statistical blip.
Jan 2010: Up 0.4%
Feb 2010: Up 3.2%
Total for first two months of the year: Up 3.6%
Jan 2011: Up 0.3%
Feb 2011: Up 3.1%
Total for first two months of the year: Up 3.4%
Jan 2012: DOWN 0.8%
Feb 2012: Up 4.1%
Total for first two months of the year: Up 3.3%
Nevertheless, it is rather depressing.
I don't accept the 'Rightmove data is useless' argument one person put forward in the thread above. It does measure the sentiment of buyers putting their homes on the market and as a measure of that - rather than house prices per se as it is often presented by the media - it's useful.
I rreally don't understand it this latest release - perhaps the best explanation is that I was in Westminster Sainsburys last night which I assume serves many people who have houses there which are apparently booming in price ad infinitum and there was a 'Special Offer!"' on 2X4 yoghurts for £3.50. The price of a single pack of 4 was £1.84.
This post has been edited by Unsafe As Houses: 21 February 2012 - 01:34 PM