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Rightmove mom down 2.1%


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10 minutes ago, 999house said:

So in other words things could be worse than it appears?

I suspect things could be a lot 'worse' (you mean better, right!?) as from what I have seen of new listings there have in recent weeks been quite a few ridiculous kite flyers who presumably may be trying to build in a more significant negotiation buffer when it comes to a potential actual sales price (although most don't get near an actual sale these days). Non of this is picked up on RM stats (i think?) . Remember - we haven't yet reached anywhere like a Capitulation phase, which if and when it arrives , not least by the BTL brigade will I hope hasten in more accelerated reduction stats.  #Happydays

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5 minutes ago, Crash&Carry said:

I suspect things could be a lot 'worse' (you mean better, right!?) as from what I have seen of new listings there have in recent weeks been quite a few ridiculous kite flyers who presumably may be trying to build in a more significant negotiation buffer when it comes to a potential actual sales price (although most don't get near an actual sale these days). Non of this is picked up on RM stats (i think?) . Remember - we haven't yet reached anywhere like a Capitulation phase, which if and when it arrives , not least by the BTL brigade will I hope hasten in more accelerated reduction stats.  #Happydays

yes i did mean better. See what you mean. 

I spoke to some estate agents last week and all said people are only selling if they lower asking prices by 10-15%. Doesnt sound like much, but considering things were going for above asking price in 2014 its a good sign. This data confirms what they are saying.

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43 minutes ago, 999house said:

Where? Do you have a linky?

See Digsby's links.

I've cut the table to make it easier and attached it

Bottom right of table. Prime London down 8.7% Year on Year, and that's just the asking prices. Reality will be even worse

london.png

Edited by sisyphal
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26 minutes ago, sisyphal said:

See Digsby's links.

I've cut the table to make it easier and attached it

Bottom right of table. Prime London down 8.7% Year on Year, and that's just the asking prices. Reality will be even worse

london.png

Wow, thats almost 200k of asking prices. % doesnt do justification for absolute decline. 

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Any more news on them canny sellers at the top end? People at the top of the chain pyramid purchasing at the bottom in order to complete the chain. I thought not, I'd be surprised if even one person considered that in passing, beggars belief how much BS one industry can churn out.

Worth a read. Paul Hodges latest, he's calling it a collapse. It peaked at 10.4x avg. earnings!!.

http://www.icis.com/blogs/chemicals-and-the-economy/2016/12/london-house-prices-start-collapse/

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26 minutes ago, TheCountOfNowhere said:

I cant believe this is the main news topic on the BBC right now.

Only joking of course. :lol::lol:

It is almost a joke, it doesn't even list in the 'Housing' section of the BBC News app but if there is even a whiff of someone stating something positive it gets straight in there.

No doubt there was a mention in the live days updates feed but 'missed' for general news updates.

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23 minutes ago, Sajid the Taxmeister said:

It is so very mathematically bad an index, and spun so much, it is heart-warming to see the direction of travel.  If even this yard stick can be good....

It's best off thought of as a sentiment index. The nature of it though means that when it says asking prices are rising, sold prices will be rising to a lesser degree. When it says says asking prices are falling, sold prices will be falling to a greater degree. So there is logic in sitting up and paying attention when it starts talking about falls of this magnitude. Plus, bears need to eat too! 

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35 minutes ago, Wolfie84 said:

Found the link above.  The latest chart in there is from 2013.  I think November 2016 figures would have this at 1.49 

Fished the chart out of that thread for you. If your 1.49 is right that is just higher than anything seen between 2002 and 2013. 

Hat tip to Neon Tetra, wherever he/she may be now. 

DelusionIndex.jpg

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21 minutes ago, TheCountOfNowhere said:

It's funny how the human mind works.

 

people have been conditions to think of falling prices as bad news, inflation is good and all that.

 

Whereas, falling prices , of any kind is great news for the majority

I know, it's quite straightforward really.  Less more on housing = more money on holidays.

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27 minutes ago, Wolfie84 said:

I know, it's quite straightforward really.  Less more on housing = more money on holidays.

More money building a future, planning for retirement, enjoying your life, looking after your children, looking after your family.

 

The UK housing bubble is a disaster for a generation, the same ones complaining that people should have stayed in the EU to give them a future....

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It must be only my areas of interest (Derbyshire, Snowdonia and Anglesey) that are the only places in the whole country where every new house coming on to the market is still anywhere between 10%-20% higher than the last comparable sale... and to make it even worse there seems to almost always be some mug willing to pay!

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