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Rightmove September Statistics?...

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hi all,

I like these posts where people place their predictions - I especially like the one the other day where the opening posters "mate" had inside information. All utter twaddle of course - but I like the post and the replies.

SO! the big question - will Rightmove give us what we want this week? My gut says yes and around 1% DOWN

Any thoughts?

Also - does anyone know if they only analyse first post prices or the accumulative effect of price drops?

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My gut says no. September means up, so I'll say up 0.5%. First post prices only. Even more meaningless than Land Registry.

hi all,

I like these posts where people place their predictions - I especially like the one the other day where the opening posters "mate" had inside information. All utter twaddle of course - but I like the post and the replies.

SO! the big question - will Rightmove give us what we want this week? My gut says yes and around 1% DOWN

Any thoughts?

Also - does anyone know if they only analyse first post prices or the accumulative effect of price drops?

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Between +2% and -2% it's a very erratic index. It's out next Monday.

Be fun if that turns out wrong :P

Big change in sentiment and balance of motivated sellers vs dabblers could have interesting effects. A straw in the wind for which way EAs are pushing.

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Just asking prices - utterly meaningless.

I'm not sure that I'd agree to utterly. If the index is rising then it doesn't mean much because you don't know the eventual sale price. However if the index is falling then you can be pretty confident that people will not (on average) be offering more than asking, and thus the trend price must be down.

If anyone agees or disagrees with that I'd be interested to hear because I'm always seeing that comment that asking price indexes are worthless.

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http://www.rightmove.co.uk/news/house-price-index/august-2010

Newly marketed property down by over £4,091 (1.7%) as
over-supply
coincides with holidaying buyers — but search activity on Rightmove sets a new daily record
Available stock per agent rises for sixth consecutive month; the
highest August for fresh property for three years
— 29,220 a week compared with 20,675 last year (+41.3%)
Falling prices
are good news for the 6 out of 10 renters who would like to buy but state they cannot afford to
Anticipated interest rate rises could lead to more repossessions - though this would improve buyer affordability by exerting further
downward price pressure

If the above August report from RM is anything to go by, the September repoprt should show a continuation of what is now becoming an entrenched trend.

I am receiving property details by email from local agents (E of Brighton) and am seeing a growing number with large reductions of £10k-£20k based on houses around £250k.

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I'm not sure that I'd agree to utterly. If the index is rising then it doesn't mean much because you don't know the eventual sale price. However if the index is falling then you can be pretty confident that people will not (on average) be offering more than asking, and thus the trend price must be down.

If anyone agees or disagrees with that I'd be interested to hear because I'm always seeing that comment that asking price indexes are worthless.

I agree in theory but if you look at the historical figured for rightmove it's very erratic. It showed a couple of large falls towards the end of last year even when the Market was rising strongly. (this could be something to do with the fact that it's not seasonally adjusted)

I prefer RICS for a sentiment indicator. Which is due out tomorrow.

Edited by Pent Up

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I agree in theory but if you look at the historical figured for rightmove it's very erratic. It showed a couple of large falls towards the end of last year even when the Market was rising strongly.

Wasn't aware of that, thanks!

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As others have said it's meaningless as it's initial asking prices and they are set by EAs chasing instructions, but here goes..

Up 1.75%. The summer holidays are over and the autumn buying season is on so they'll all raise their prices on the basis of the rogue Halifax figures.

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Just asking prices - utterly meaningless.

I like threads where people post images of gorgeous women - especially female bottoms of note.

Spending too much time in the off-topic threads?

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A lot of high end properties gone on the market in last 2 weeks, one at £5M plus, here in Bath/Somerset which will surely bias the average price of a property on Rightmove. I note too that there have been a couple of posts showing property portfolios for sale, (one here in Bath too), which on rightmove show as one proerty so dont be surprised if index is up strongly.

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After all the other news, sentiment should be down, which is reflected in the prices.. however as mentioned it's initial asking prices which are misleading.. So I say +0.2%

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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