Monday, Apr 21, 2008
The penny drops (like the pound)
The Mail: House prices: Why look at asking prices?
The latest figures from the UK's largest property listing website Rightmove show asking prices fell in April - typically a month when property surges.
Falling prices: A study ahs shown asking prices falling - but does this reflect the real market?
Posted by titaniccaptain @ 11:01 PM (786 views) Add Comment
6 Comments
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1. titaniccaptain said...
Cant get my own link to work but if you go to the mail its all there
2. titaniccaptain said...
Cant get my own link to work but if you go to the mail its all there
3. titaniccaptain said...
Dont know why it just posted the same comment twice..........strange
4. enuii said...
Probably worth going to bed and starting afresh in the morning then.
5. Bananasplit said...
I viewed a house today and managed to enter,walk room to room and leave without speaking to the property salesman, job titles like estate agent makes them feel grand and important.
6. drewster said...
It's not a terribly insightful article, but then the Daily Mail is hardly the FT.
ThisIsMoney.co.uk: House prices: Why look at asking prices?
"Does looking at asking prices reflect what is really happening in the property market? Asking prices can fluctuate substantially, or fail to reflect home's selling prices, as anyone can put their home on the market for however much they want. The Rightmove index is highly volatile from month to month, but a comparison between it and the Halifax index shows its mood to often lead Halifax by about three months."
Basically the Rightmove asking-price index generally leads the Halifax sales price index by three months. Not sure how that three-month lag will be affected by the fact that houses are sticking on the market for longer. Personally I don't think asking prices are worth the pixels they're printed on; it's real sales prices that count.