exiges Posted July 18, 2011 Share Posted July 18, 2011 (edited) http://www.bbc.co.uk/news/business-14183649 According to the BBC website: "This suggests that sellers or their estate agents are over-valuing homes by 16%." "That puts the reality gap at 21% based on the Nationwide's figures or 25% on those from the Halifax." Edited July 18, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted July 18, 2011 Share Posted July 18, 2011 REALITY GAP! Love it Those figures really sink in, don't they? Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted July 18, 2011 Share Posted July 18, 2011 http://www.bbc.co.uk/news/business-14183649 According to the BBC website: "This suggests that sellers or their estate agents are over-valuing homes by 16%." "That puts the reality gap at 21% based on the Nationwide's figures or 25% on those from the Halifax." Good to see it quoted but the numbers are wrong- should be 41% for RM/Nationwide and 45% for RM/Halifax. I've just emailed them the correct figs so hopefully they'll change the article soon. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted July 18, 2011 Share Posted July 18, 2011 Now corrected. Read it and weep, VIs: The reality gap is even greater when asking prices are compared to house prices as calculated by the Halifax or the Nationwide. The Nationwide says the average house now costs £168,205, while the Halifax says they cost £163,049. That puts the reality gap at 41% based on the Nationwide's figures or 45% on those from the Halifax. http://www.bbc.co.uk/news/business-14183649 Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 18, 2011 Share Posted July 18, 2011 "This suggests that sellers or their estate agents are over-valuing homes by 16%." Obviously they got that 16% figure from the recent Daily Express story. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted July 18, 2011 Share Posted July 18, 2011 Now corrected. Read it and weep, VIs: http://www.bbc.co.uk...siness-14183649 Good work on getting the correction cheeznbreed, perfectly timed for the lunch time viewing slot. This was already discussed in this thread earlier <http://www.housepricecrash.co.uk/forum/index.php?showtopic=166735> Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted July 18, 2011 Share Posted July 18, 2011 Wow, very well done!!! Quote Link to comment Share on other sites More sharing options...
moonriver Posted July 18, 2011 Share Posted July 18, 2011 Good to see it quoted but the numbers are wrong- should be 41% for RM/Nationwide and 45% for RM/Halifax. I've just emailed them the correct figs so hopefully they'll change the article soon. Wow from me too ... Nice one cheesnbreed. Can't believe how quickly they changed that article. And what a nice bit of reading it makes now. In fact I think I will print that out and take it to my next viewing to show the estate agents. Quote Link to comment Share on other sites More sharing options...
General Congreve Posted July 18, 2011 Share Posted July 18, 2011 Well done CheeznBreed. The truth on the BBC! Quote Link to comment Share on other sites More sharing options...
GordonBrownSpentMyFuture Posted July 18, 2011 Share Posted July 18, 2011 Now corrected. Read it and weep, VIs: http://www.bbc.co.uk/news/business-14183649 The reality gap is even greater when asking prices are compared to house prices as calculated by the Halifax or the Nationwide. The Nationwide says the average house now costs £168,205, while the Halifax says they cost £163,049. That puts the reality gap at 41% based on the Nationwide's figures or 45% on those from the Halifax. Very well done, cheeznbreed!! Quote Link to comment Share on other sites More sharing options...
NEO72 Posted July 18, 2011 Share Posted July 18, 2011 Well done. Looks like the difference is due to the fact that homes requiring a mortgage are on average cheaper. But 16% is still a lot. The Land Reg average figures are similar to Haliwide and they include cash sales too. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted July 18, 2011 Share Posted July 18, 2011 (edited) Wow, very well done!!! s'awright. To be honest they correct glaring errors pretty quickly. It's just the tone that's hard to change, but in fairness they've got it pretty bearish here, especially the photo caption. Sentiment is being eroded nicely, and the bulls look sillier as the months go by. I forget which poster it is that talks of 'Crash Cruise Speed', but seems like we are heading that way again. It is a long battle, but little by little the facts become harder to ignore. The greatest thing about the 40-45% delusion index is that it ties in well with what FP/JD/KB said recently on Moneybox, and it is likely that many people will have read both the website and heard the program. Hearts and minds.. Edited July 18, 2011 by cheeznbreed Quote Link to comment Share on other sites More sharing options...
witsended Posted July 18, 2011 Share Posted July 18, 2011 You are all wrong house prices are increasing in the North West,just read the article at the BBC and followed the link at the bottom of the page to the Manchester Evening News. I read it in the paper and they always tell the truth. Quote Link to comment Share on other sites More sharing options...
Pytyr Posted July 18, 2011 Share Posted July 18, 2011 You are all wrong house prices are increasing in the North West,just read the article at the BBC and followed the link at the bottom of the page to the Manchester Evening News. I read it in the paper and they always tell the truth. Funny link! House prices in the north west increased slightly from June to July according to property website Rightmove.The average home in the region is now worth £165,957, 0.2 per cent increase than last month. Errm... asking prices don't = worth. Quote Link to comment Share on other sites More sharing options...
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