Friday, Mar 12, 2010
Good news and bad news
BBC News: 'Slow start' to 2010 house sales
Acadametrics says UK house prices rose in February by the most since 2002, with the average house price hitting £222,008. However transaction numbers dropped 52%, back to levels last seen at the depths of the downturn.
Posted by little professor @ 12:42 AM (1293 views) Add Comment
13 Comments
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1. mark wadsworth said...
None of this is convincing me that I should rush out and buy.
2. estrader said...
Halifax says house prices dropped 1.5 percent in February...At least the FTSE100 index is the same on Bloomberg as it is on the BBC or any other financial source. It is clear that house price data can be manipulated to give the answer you want. On Rightmove, the 14 day filter result is increasing in number (395 now) with more auctions, more price reductions and more returns to market. It's like someone said, you look outside and see it is raining while the Government weatherman is telling you it is sunny.
3. a saver said...
estrader said 'It's like someone said, you look outside and see it is raining while the Government weatherman is telling you it is sunny.'
And although you can see that it's actually raining, millions of people believe the government and rush out to buy sunhats.
4. estrader said...
@2 While on the subject, the FTSE100, which in my opinion is a better measure of the economies performance, is only around 22% higher than it was approx 13 years ago when Labour came into power. This is not adjusted for inflation. In the 10 years before it gained over 100% more depending on which side of the ’87 crash you want to measure.
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6. matt_the_hat said...
4. estrader - better measure of which economies performance as over 50% of revenue of comanies listed on the 100 is generated outside the UK.
7. estrader said...
Hilarious...even the analyst on Bloomberg said he has never heard of acamame...adacame...addecamem...Acadametrics...take a look at their website and see who the Chairman is and who their clients are....
http://www.acadametrics.co.uk/
8. Jeremiah said...
@4 Have to point out that a large proportion (did I read 70% somewhere?) of FTSE earnings come from overseas business, if so it would not necessarily reflect the health or otherwise of the UK internal economy very well. Made the mistake myself of shorting the FTSE last year in expectation of drops to reflect the UK's predicament and have duly had my fingers burnt!
9. mark wadsworth said...
@ Estrader, you've mentioned that Rightmove recent additions thingy before, can you explain where on the site you find it? Do you have to specificy an area first or is 395 the new listings for whole of UK?
10. estrader said...
@7 - Mark it is only a rough guide that I use- If you go to rightmove homepage you will be given a 'search' box. Enter the area and click 'search', you are taken to another screen with more search criteria. In the 'added to the site' pulldown field select 'Last 14 days'
11. Mark Wadsworth said...
@ estrader, ta. So the 395 figure is in itself meaningless unless you know what the figure was a month or a year ago?
Anways, my area scores 29 (or 30 if you include SSTC) as at today's date. I'll have another look in a month's time.
12. mark wadsworth said...
@ estrader, ta, I see what you mean now.
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