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Rightmove The New ...bear?

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Ok its asking prices but... http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8617770/House-price-indices-show-markets-remain-stagnant.html

Rightmove's latest report stated that home sellers' expectations have "romped away from reality" and asking prices are heading for a fall.

They go on to predict that asking prices are "likely to fall by up to 7pc" in this year's second half, which could improve buyers' bargaining power

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yeah, this rightmove report came out a week or so back.

even if house transaction prices do manage to remain stagnant, that asking prices might come down closer to the levels that people actually buy at will be great. who knows, maybe people will continue to negotiate 10% off and then we might get a bit of momentum into this "crash".

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yeah, this rightmove report came out a week or so back.

even if house transaction prices do manage to remain stagnant, that asking prices might come down closer to the levels that people actually buy at will be great. who knows, maybe people will continue to negotiate 10% off and then we might get a bit of momentum into this "crash".

It's not inconceivable that asking prices could hit a new high with the next Rightmove release. Currently they are less than 1% below their all time peak (and have already set new highs in London). Cue discussion about the rising 'delusion' index...

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Actual house prices round my neck of the woods have been static or falling for a couple of years but the agents keep ramping up the asking price to keep the illusion going. Last year they were about £20k over and this year they are about £30k over. However not much is selling.

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Yep, as frustrating as the rises in asking prices are now i try to remind myself that the effect will be an even more obvious drop when it does turn which increases the chance of getting some momentum on this

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By saying asking prices will fall 7% throughout the rest of this year is not really bearish. It's just saying that prices will end the year roughly flat. This is not seasonally adjusted so there will always be big variations throughout the year and all Miles Shipside is doing is stated the seasonal trends by saying prices will fall back.

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We all thought the internet would lead to buyers being better informed and therefore prices should be competitive, however I'm starting to think that its helping drive this "delusion index."

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We all thought the internet would lead to buyers being better informed and therefore prices should be competitive, however I'm starting to think that its helping drive this "delusion index."

People are too bl00dy stupid/don't want to see the truth and will never stumble upon sites like this.

7%.... pfft, we need 50% for starters.

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I think Shipside is one of the most bearish commentators around. I get the feeling he's exasperated by the results he has to announce. He know's where this is going.

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I had an email from them the other day asking me to take part in their consumer confidence survey, which i'm guessing is how they gather this information. What's funny is that the options for "what do you think will happen to house prices over the next 12 months?" had multiple choice answers ranging from +10% or more though to -10% or less.

The way they gather this data is laughable, just like all of the other surveys that "they" use for stats. A selection of answers from a pre-defined list. Siiiiiiiiiiigh

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I don't know how the business works as regards fees from agents etc.

But you have to ask yourself the question of what the consequences of the current low transaction levels are on their business.

I forecasted in 2008 that within 5 years 2/3rds of EA people would no longer be there.

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I forecasted in 2008 that within 5 years 2/3rds of EA people would no longer be there.

Passed through High Wycombe last week and stopped to try and find a bite to eat. Counted 9, as in NINE, EAs on one small street. Many of them had ads in the window for 4 bed detacheds at £350K upwards. The rest of the town centre was full of Pound stores and cheap pizza takeaways. How anyone can afford those kind of house prices in an area where the high street looks so impoverished beats the heck out of me.

Edited by rantnrave

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I forecasted in 2008 that within 5 years 2/3rds of EA people would no longer be there.

Like the others, I find the number of eas in the marketplace at the moment unsustainable.

However, I do view estate agency as a very flexible business, that can pop in and out of existence at a moments notice.

I guess what I was more alluding to was whether or not it is in Rightmoves best interest to have more or less agencies, or whether its customer base is best comprised of a mix of small independents and larger agents etc, and whether or not it will try to influence the marketplace to achieve its best interests.

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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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