Smiley George

These are even more made up than than the Nationwide ones, I wouldn't bother. If you like I can ask my dog who will give a much more accurate number.

Genius 🤣

It’s deliberate manipulation on the part of the EA and Rightmove don’t seem to give a fig. If ever there was an industry crying out for regulation, it’s this bunch of spivs and chancers.

One thing I don't get here with this huge discrepancy in prices, we hear everyday of the ongoing down valuations in the 2nd hand market. How do new builds avoid this - they become an existing property as soon as someone moves in and therefor their value in the market plummets (just like a new car). If someone is looking at a 90%+ LTV mortgage on a new build, then surely the mortgage risk is much higher than on an existing property - what am I missing? Is this all down to HTB?

Thanks @TheCountOfNowhere this is really good info. Supply is increasing in my neck of the woods, but initial asking prices are insane in most cases 20% on selling price 6 months ago. These houses won't sell, they'll just join the long listing of other completely over priced stuff that's been on there since Jan, with the odd 2% reduction every 3 months - they're not giving them away! Still need to see that supply number increasing some more, if we start to get back to 2018/19 numbers then things will get interesting.

Bank of England warns, as it says taking aggressive action now is better than doing ‘too little too late’ 😂😂😂 i mean, seriously, what are that lot smoking. They’re so far behind the curve its actually embarrassing now.

Hilarious! And even better that the very next post seems to be ruining this moron’s dimwitted plan.

https://www.google.com/amp/s/www.dailymail.co.uk/news/article-11001579/amp/How-Sutton-south-London-hotspot-thousands-Hong-Kong.html Apparently it’s putting pressure on schools, local services and housing….i mean really who could possibly have predicted????

Do they publish volume data to compare how many mortgages they're comparing MoM?

Desperate stuff

Seems an odd data set. Surely a significant number of people moving out of flats/apartments would be moving into houses as they outgrow and build a family. But doesn't seem to have impacted the price of houses.

Abandon ship!

Doesn't help that Zoopla's price algorithm seems to be completely detached from reality since they updated it a while back. This is a big part of the problem in that in many cases it is responsible for the stand off we have at the minute and also most of the ridiculous asking prices I'm seeing. For instance house we're looking at today was put on at £900k about 4 months ago, very similar house round the corner sold for £770k in March - similar footprint, semi-detached, same standard of decor. It's been steadily reduced and we're viewing again today. It can't be a coincidence that top Zoopla estimate for this property is £895k. Checked another 5 similar houses in the area and yep the asking price is within 1 or 2% of Zoopla top estimate. 4 of the 5 have been reduced more than once and have been on the market over 3 months. The UK housing market is like the Wild West and is crying out for some regulation, I'd love to see these VI indexes properly analysed and held to account.

👍 Ta

Now that's much more exciting!

Can't see the full article, but the first paragraph suggests a 2% fall is going to be a disaster?? Doesn't sound very disastrous to me.

Do you mind if I don’t. Time for landlords to google moral hazard and suck it up, or sell up.

😀

Is this a Daily Mash article??

The scheme is like giving a hard hat to someone about to be hit by an asteroid.

If thats the case, that might correlate with mini boom of sales seen in January.

Just checked my postcode and 0 houses sold in April on Land Registry. The last house that sold according to the data was on the 10th Feb. A total of 10 houses showing as sold this year, most in January. Compare that to RM and there are currently 32 for sale and 91 showing as SSTC/Under offer. This data is completely meaningless in the current market....at least applied locally here.

Seeing similar starting to unfold - out of 56 listings 12 are now reduced. 10 listings are back from SSTC. Encouraging signs.

Same here, RM supply has increased by about 15% in the last week. About half of those aren't brand new listings but "unexpectedly re-available", which is nice to see. Quite a few reductions as well across the board over the past couple of weeks. Prices are all over the place though, most new listings are "Guide Price" at 10% over actual HPI in the area, so looks like people trying to get their lottery win - these will be next weeks "reduced" contingent, they've missed the boat.

THIS IS ASKING PRICES FFS!! Its made up and completely open to manipulation by RM and EA's to try and peg house prices ever higher before the inevitable leg downwards; especially when supply levels are at all time lows. The higher they can get that "average house price" before things reverse, dampens the impact of whatever declines occur next 10%, 20%, 50%..who knows. But if they can get some final ramping into Joe-idiot Public's head before then they'll be happy. That our media reports the RM releases as being actual house price data, is the real issue and shouldn't be allowed.