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Control Freak

Could This Be What Is Distorting The

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Control Freak

Surprised they are not chucked off for that, anybody's guess as to whether this sort of thing or mis-priced properties are filtered from the stats. One thing that is noticeable is that Righmove's agent profile is changing all the time, within a particular area you only need one or two high end agents to join and you will compeltely distort previous pricing levels (maybe even make them more prepresentative).

Anybody want a Barratt box on steroids, not quite finished yet.

http://www.rightmove.co.uk/viewdetails-867...pa_n=5&tr_t=buy

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I contacted Rightmove a while ago regarding mis pricing and stats. Their response is below:

Hello

To answer your question, the index is carried out on properties that have come onto our site within the last month. If there are properties on there that are 3 s.d out of the mean then they will not be included. This is the case for every postcode area and property type, so that property you are referring to is likely to be excluded as it is out of the mean for the type of property and postcode.

kind regards

I am pulling together an article on the representation of housing market stats.

Cheers

Edited by Lord Lucan

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This is why the Rightmove index is not worth a *****! They do state that they dont include 'irregular' properties but I dont believe it. If its just a template for an advert then why cant they put the price as £0?

When somebody does not disclose their methodology and they choose 1,500 properties for their index. Then the 15 highest will show a massive increase in house prices where as the lowest 150,000 will show a CRASH!

Hmmm.. wonder which 1,500 they will choose???

As usual - trying to con the general public (imho) - Not even worth discussing further - move on!

Edited by teddyboy

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I wrote to rightmove about this and this the reply.

Dear xxx

Thank you for your email. The House Price Index is compiled in such a way that we remove any properties that are outliners (Anything over 3 standard deviations of the average house price for that type of property in that area).

If you require further indepht information regarding how the House Price Index is compiled, please do not hesitate to contact me.

Regards

Stuart

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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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