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Rightmove Index - down (0.6%) as is every region


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Apologies if RM's index has been posted today as I only had time to do a quick scan of posts.

Gosh, I must be tired!  I've just noticed that every region is reflecting falls - see thisismoney link/RM link!  On this basis, the 0.6 fall is seasonally adjusted (edited to add this line).

https://www.rightmove.co.uk/news/house-price-index/

Most articles published on Monday highlight the annual growth this year (6.6%) and the 4% 'boom' that is set for 2021 yet mostly did not reference the fall in HPI.  The reported fall (0.6%), however, is buried away within several of the article below.

https://www.propertyreporter.co.uk/property/rightmove-forecast-robust-4-price-growth-in-2021.html

 

London down again by 1.5%.  This fits with my sense of what is happening on the ground but may be a little optimistic i.e. the falls are greater.

https://www.thisismoney.co.uk/money/mortgageshome/article-9043811/House-prices-forecast-soar-4-2021-near-7-rise.html

 

https://www.bloomberg.com/news/articles/2020-12-14/u-k-property-boom-will-last-another-year-rightmove-says

https://www.bristolpost.co.uk/news/property/what-happen-bristols-house-prices-4790688

Edited by Buffer Bear
spacing and sentence added.
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  • Buffer Bear changed the title to Rightmove Index - down (0.6%) as is every region

Sometimes you can really got overwhelmed with so many statistics telling you opposite things.

Where I am looking to buy in London, the prices are receding, and the ads on zoopla and rightmost are also staying on for much longer too. I'm not taking a lot but I have seen flat in Zone 4/5 been reduced albeit from an overly optimistic price target.

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I just posted this on another thread but thought I would post it here too.

https://inews.co.uk/opinion/brexit-house-prices-no-deal-forecast-794268?ITO=newsnow

Even without Brexit, the amount of uncertainty we currently face cannot be underestimated. “I could just as easily argue for why house prices will be up by eight per cent next year – economic boom and bounce back – as to why they could be down by eight per cent – business impact of leaving the EU and knock-on effect on people’s ability to pay their mortgages. In short, all bets are off, but what’s for sure is that Brexit – whether it’s no-deal or a last-minute deal – certainly carries a huge amount of risk for the housing market.”

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I just posted this on another thread but thought I would post it here too.

https://inews.co.uk/opinion/brexit-house-prices-no-deal-forecast-794268?ITO=newsnow

Even without Brexit, the amount of uncertainty we currently face cannot be underestimated. “I could just as easily argue for why house prices will be up by eight per cent next year – economic boom and bounce back – as to why they could be down by eight per cent – business impact of leaving the EU and knock-on effect on people’s ability to pay their mortgages. In short, all bets are off, but what’s for sure is that Brexit – whether it’s no-deal or a last-minute deal – certainly carries a huge amount of risk for the housing market.”

Same could be said of covid. Could be a bounce from being covid free from summer.

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Sometimes you can really got overwhelmed with so many statistics telling you opposite things.

Where I am looking to buy in London, the prices are receding, and the ads on zoopla and rightmost are also staying on for much longer too. I'm not taking a lot but I have seen flat in Zone 4/5 been reduced albeit from an overly optimistic price target.

Until UK Gov HPI index goes YOY negative in every region as it did in Q4 2008 , it's not worth worrying about. Best to just keep tabs on what is happening where you live, or want to live. 

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I just posted this on another thread but thought I would post it here too.

https://inews.co.uk/opinion/brexit-house-prices-no-deal-forecast-794268?ITO=newsnow

Even without Brexit, the amount of uncertainty we currently face cannot be underestimated. “I could just as easily argue for why house prices will be up by eight per cent next year – economic boom and bounce back – as to why they could be down by eight per cent – business impact of leaving the EU and knock-on effect on people’s ability to pay their mortgages. In short, all bets are off, but what’s for sure is that Brexit – whether it’s no-deal or a last-minute deal – certainly carries a huge amount of risk for the housing market.”

So just looking at the 2018 article linked in the above article,on what basis was Carney in 2018 predicting 35% falls in his worst case scenario Brexit? Why are things bouncy bouncy when every EA we speak to says that the market was flat for years after the Brexit vote yet here we are weeks away from a hard brexit ('deal' or no deal) with the market all bouncy bouncy, or at least it would be if there was any stock. 


Article in which Carney said that when we was speaking of 35% house price falls he wasn't predicting a no deal house price crash! 
https://www.theguardian.com/business/2018/sep/14/bank-not-predicting-no-deal-house-price-slump-says-governor

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Sometimes you can really got overwhelmed with so many statistics telling you opposite things.

Where I am looking to buy in London, the prices are receding, and the ads on zoopla and rightmost are also staying on for much longer too. I'm not taking a lot but I have seen flat in Zone 4/5 been reduced albeit from an overly optimistic price target.

I don't know about London but I would say that the above is the pattern I see.

Property now gets put on at a loopy price and it even sells immediately or slowly drops back to the usual loopy price. 

That said, quite a few properties I have been watching that have been on for AGES and overpriced have gone the past week, guess there is just so little choice/stock. 

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So just looking at the 2018 article linked in the above article,on what basis was Carney in 2018 predicting 35% falls in his worst case scenario Brexit? Why are things bouncy bouncy when every EA we speak to says that the market was flat for years after the Brexit vote yet here we are weeks away from a hard brexit ('deal' or no deal) with the market all bouncy bouncy, or at least it would be if there was any stock. 


Article in which Carney said that when we was speaking of 35% house price falls he wasn't predicting a no deal house price crash! 
https://www.theguardian.com/business/2018/sep/14/bank-not-predicting-no-deal-house-price-slump-says-governor

Based on the same article (and being a complete Dummy) Carney in the same article was speaking about interest rates jumping to 4% (from 0.75%) in the case of the worst case scenario and a  no deal Brexit , now they look like they will go into negative territory so what does that mean? 

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Based on the same article (and being a complete Dummy) Carney in the same article was speaking about interest rates jumping to 4% (from 0.75%) in the case of the worst case scenario and a  no deal Brexit , now they look like they will go into negative territory so what does that mean? 

1. Carney is a know-nothing charlatan. Anything he says or has ever said should be ignored.

2. Another £300bn has been put on the national debt since March.

 

 

 

 

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Apologies if RM's index has been posted today as I only had time to do a quick scan of posts.

Gosh, I must be tired!  I've just noticed that every region is reflecting falls - see thisismoney link/RM link!  On this basis, the 0.6 fall is seasonally adjusted (edited to add this line).

https://www.rightmove.co.uk/news/house-price-index/

Most articles published on Monday highlight the annual growth this year (6.6%) and the 4% 'boom' that is set for 2021 yet mostly did not reference the fall in HPI.  The reported fall (0.6%), however, is buried away within several of the article below.

https://www.propertyreporter.co.uk/property/rightmove-forecast-robust-4-price-growth-in-2021.html

 

London down again by 1.5%.  This fits with my sense of what is happening on the ground but may be a little optimistic i.e. the falls are greater.

https://www.thisismoney.co.uk/money/mortgageshome/article-9043811/House-prices-forecast-soar-4-2021-near-7-rise.html

 

https://www.bloomberg.com/news/articles/2020-12-14/u-k-property-boom-will-last-another-year-rightmove-says

https://www.bristolpost.co.uk/news/property/what-happen-bristols-house-prices-4790688

Sounds familliar...

 

 

 

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