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rantnrave

Rightmove Hpi Up 1.3% Mom

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EDITED NOW FIGURES ARE OUT

In the past this has been found earlier than the official release time. I'm not staying up until midnight though to wait. It's asking prices - reckon new vendors are still wanting more? A good drop might make some headlines however.

Edited by rantnrave

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Sorry wrong year!

We've all done that before :D

I'll go with asking prices up +3.7% as well. Followed by actual sales volumes falling even further off a cliff..

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We've all done that before :D

I'll go with asking prices up +3.7% as well. Followed by actual sales volumes falling even further off a cliff..

Who did it on April 1st? Someone posted an old price survey, saying 2% increases MoM and nearly 10% YoY. Quite funny.

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The Rightmove Index is asking price related isn't it? Is there a Rightmove Index Accuracy Index that tracks the difference between asking prices and actual sales prices?

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The Rightmove Index is asking price related isn't it? Is there a Rightmove Index Accuracy Index that tracks the difference between asking prices and actual sales prices?

There's something called the delusion index which measures what % of initial asking prices is reflected in the sold figure.

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There's something called the delusion index which measures what % of initial asking prices is reflected in the sold figure.

where is this found?

i'd like to see a realisation index where we can see the speed of drops once the sellers realise no one is snapping their house up

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where is this found?

i'd like to see a realisation index where we can see the speed of drops once the sellers realise no one is snapping their house up

They don't.

They either leave it on the market and whine about buyers on MSE, or they take it off the market in a big sulk.

Hence inventories are up and transactions are down..

Tick, Tock..

Edit to add: Or they go to B&Q and get some bigger twigs ;)

Edited by libspero

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RM is also 'initial' asking price IIRC so kite-flying figures to start with. This month prices will be up 2.5% MoM ... good weather, Royal wedding so people will want to pay more for houses ... and the Spring bounce as well so maybe +3.5%

Really? What a complete waste of time. So if you want to 'increase' the RM index, simply put a few terraced houses up for sale for £25,000,000,000,000,000 each for a month!

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There's something called the delusion index which measures what % of initial asking prices is reflected in the sold figure.

That's exactly what I want to see. My guess is that it's risen markedly over the last year or two.

Oh just found this. Someone with a work ethic but without a life needs to update it.

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The average increase for May over the past 7 years is 1.46% so I expect an increase of around 1% this month.

Anything less than 0.6% will put it negative YoY.

Not staying up to wait for it though.

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That's exactly what I want to see. My guess is that it's risen markedly over the last year or two.

Oh just found this. Someone with a work ethic but without a life needs to update it.

Apr-11 235,822 165,609 1.42

Mar-11 231,790 164,751 1.40

Feb-11 230,030 161,183 1.42

Jan-11 223,121 161,602 1.38

Dec-10 222,410 162,763 1.36

Nov-10 229,379 163,398 1.40

Oct-10 236,849 164,381 1.44

Sep-10 229,767 166,757 1.37

Aug-10 232,241 166,507 1.39

Jul-10 236,332 169,347 1.39

Jun-10 237,767 170,111 1.39

May-10 237,134 169,162 1.40

Apr-10 235,512 167,802 1.40

Mar-10 229,614 164,519 1.39

Feb-10 229,398 161,320 1.42

Jan-10 222,261 163,481 1.35

Dec-09 221,463 162,103 1.36

Nov-09 226,440 162,764 1.39

Oct-09 230,184 162,038 1.42

Sep-09 223,996 161,816 1.38

Aug-09 222,762 160,224 1.39

Jul-09 227,864 158,871 1.43

Edited by rantnrave

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I see Forex Factory wasn't daft enough to predict figures this month.

MoM +1.3% YoY +0.7%

New sellers’ average asking prices highest for almost 3 years – last time they were higher was June

New property listings fall from circa 29,000 per week to circa 20,000 per week over the extended bank holiday period

Scarcer new listings help push up asking prices of fresh-to-market property by 1.3%

Low interest rates (0.5% maintained for the 26th consecutive month) counterbalance downward price pressure – asking prices are now only £3,626 (1.5%) below their all-time

Average unsold stock rises further from 74 to 76 properties per branch, reaching highest ever level for May as potential buyers are distracted by fine weather and bank holidays

Edited by exiges

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Average unsold stock rises further from 74 to 76 properties per branch, reaching highest ever level for May as potential buyers are distracted by fine weather and bank holidays

haha, so now good weather stops people buying, I've heard it all now.

Amazes me how they can never bring themselves to say "buyers can't afford the asking prices"

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Bit of a bearfest from Mr Shipside. Partly reproduced from the above report:

Shipside comments: “Agents rely on fresh property stock to give them a more dynamic shop window

and capture potential buyers’ attention. With new seller levels down some 30% over the extended

holiday period, there seems to have been a knee-jerk reaction pandering to sellers’ pricing aspirations

rather than accommodating the reality of low buyer numbers. With buyers also distracted by the

attractions of bank holidays and warm weather, and viewing royal weddings rather than property, these

sellers could miss out on the rapidly closing spring window of moving activity by pitching onto the

market at near-record asking prices”.

Edited by cheeznbreed

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haha, so now good weather stops people buying, I've heard it all now.

Amazes me how they can never bring themselves to say "buyers can't afford the asking prices"

...the fiction it is based on i.e. asking prices deems the whole report VI nonsense ....not worth consideration or even the effort to read....just a failing salesmans last gasps of manipulation.... :rolleyes:

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Bit of a bearfest from Mr Shipside. Partly reproduced from the above report:

Yep, particularly

With new seller levels down some 30% over the extended holiday period, there seems to have been a knee-jerk reaction pandering to sellers’ pricing aspirations rather than accommodating the reality of low buyer numbers.

Having read some of the RICS reports, many of them are overvaluing property just to get it on their books.

Edited by exiges

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MoM +1.3% YoY +0.7%

New sellers’ average asking prices highest for almost 3 years – last time they were higher was June

New property listings fall from circa 29,000 per week to circa 20,000 per week over the extended bank holiday period

Scarcer new listings help push up asking prices of fresh-to-market property by 1.3%

how did the new sellers know there would be less listings and were thereby inspired to put higher asking prices? No really i want the ****** head who wrote that to tell me now.

Low interest rates (0.5% maintained for the 26th consecutive month) counterbalance downward price pressure – asking prices are now only £3,626 (1.5%) below their all-time

Average unsold stock rises further from 74 to 76 properties per branch, reaching highest ever level for May as potential buyers are distracted by fine weather and bank holidays

no really, we've got the money, and the credit, and the will, we just forgot to buy at these prices, got distracted

If they report this fantasy ******** tomorrow as "HOUSE PRICES JUMP 1.3% IN APRIL" i'm going to burst a blood vessel.

Note to the BBC "asking prices don't mean shit when nothing is selling and they are all dropped by 10 or 20% in the first month and then take a lower offer than that."

Edited by athom

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haha, so now good weather stops people buying, I've heard it all now.

Amazes me how they can never bring themselves to say "buyers can't afford the asking prices"

Yeah, all that time off and sunshine meant people had no opportunity to buy a house. Vacuous stuff like that aside, the report makes pretty good reading. It's all balls, mind, but if it puts the willies up a few seller it'll serve its purpose. Loving the rising stock levels despite the reduction in listing rate. Seems we are inevitably headed for record stock levels.

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  • 312 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
      • up 2.5%
      • up 5%



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