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Wankan

Rightmove Report

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I guess you won't bother mentioning all the places selling in the thousands that get input in the hundreds instead?

I take your point TTRTR, and I don't think there's much point in scanning Rightmove for examples.

My point is, however, how do Rightmove arrive at their statistics, given that these are supposed to be asking prices. Are their figures directly linked to prices that appear on the website ? - if so, and if there are a substantial number of errors, then it follows that their statistics might not be quite right. I don't know if this has been discussed before, sorry if I'm going over old ground!

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I guess you won't bother mentioning all the places selling in the thousands that get input in the hundreds instead?

No need to. They don't affect the average as much as a mistake in the other direction.

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I guess you won't bother mentioning all the places selling in the thousands that get input in the hundreds instead?

You'd have to have 10 getting input wrongly in the hundreds instead of the thousands to make up for each one input wrongly in the thousands instead of the hundreds

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I take your point TTRTR, and I don't think there's much point in scanning Rightmove for examples.

My point is, however, how do Rightmove arrive at their statistics, given that these are supposed to be asking prices. Are their figures directly linked to prices that appear on the website ? - if so, and if there are a substantial number of errors, then it follows that their statistics might not be quite right. I don't know if this has been discussed before, sorry if I'm going over old ground!

The web pages are data driven, I suppose it's possible the statistics are skewed by mistakes if they are pulling them from the same database the website, which seems feasible since inputing data twice would be a inefficient thing to do. Given that mistakes made one decimal place to the left do not balance out mistakes made one decimal place to the right, if the bad data is included it might affect statistics such as average asking price, making this figure higher than it should be.

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Surely these mistakes would have always happened and are therefore negligible? I suppose it will skew the average asking price though...

A more sinister side to me thinks that these houses are inputted incorrectly accidentally on purpose...

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I`ve mailed Rightmove to ask for an explanation, I will not divulge the full reply that would be wrong, but I will pass on the bullet points after the reply.

I saw a 1 bed flat in Colchester Essex priced at 450,000 or maybe 4.5 million about a month back, or something silly I just assumed an estate agent had put it in incorrectly. I cant imagine they stay in the system too long, but it does make a mockery if the avg price is just an aggregate of all the prices divided by no. etc. not too scientific if Estate agents can put in whatever price they like.

Why would a vested interest though not put the price in at the top end rather than what the seller will reasonably expect and thus lead to avg prices falling and create a vicious circle.

All a big load of hairy swollocks to guage house prices via an non independent website, but thats journalism it seems!

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Surely these mistakes would have always happened and are therefore negligible? I suppose it will skew the average asking price though...

A more sinister side to me thinks that these houses are inputted incorrectly accidentally on purpose...

How do we know it is a mistake, maybe the seller is testing the water!

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  • 301 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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