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OzzMosiz

Rightmove Errors

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Guest muttley

My favourite RightMove error.....

zorn logging on from www.rightmove.co.uk

:lol::lol::lol:

Edited by muttley

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Guest muttley

:o:o:o OzzMosiz, you're not suggesting that RightMove are DELIBERATELY reporting false asking prices in order to gerrymander the figures and give the impression that the market is strong.

If that were true these prices will be corrected first thing tomorrow as I feel sure that RightMove.co.uk regularly monitor this site.

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Guest Bart of Darkness

:o:o:o OzzMosiz, you're not suggesting that RightMove are DELIBERATELY reporting false asking prices in order to gerrymander the figures and give the impression that the market is strong.

If that were true these prices will be corrected first thing tomorrow as I feel sure that RightMove.co.uk regularly monitor this site.

I'm shocked, shocked at such a suggestion!

(Well not that shocked!) ;)

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:o:o:o OzzMosiz, you're not suggesting that RightMove are DELIBERATELY reporting false asking prices in order to gerrymander the figures and give the impression that the market is strong.

If that were true these prices will be corrected first thing tomorrow as I feel sure that RightMove.co.uk regularly monitor this site.

Thats bordering on slander! How dare you suggest such a thing!!! :angry: :angry: :angry: :angry:

Everybody round here knows it will probably take Rightmove over a month to correct the figures. :P

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Guest muttley

Anyone notice a change on some of these?

HD

Now can anyone explain how a house for sale at £94,950 can be accidentally listed at £999,999?

£949,500 could be a typo,but £999,999!!??

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Guest

I wouldn't be at all surprised if the software just totals up the numbers that happen to be in the database. Computers do precisely what they are told. If they don't do what you expect, it's because you told it wrong!

This could potentially be and embarassment for Rightmove if it was proven that publicly released statements were based on this sort of "data". I would expect a massive fall in their share price as investors scurry for the exits as a spotty teenage summer CS student tries to write a routine to correct Rightmove's prices.

:lol:

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Guest muttley

Interestingly since this thread was started 4 of the 5 properties highlighted by OzzMosis at £999,999 have benn "Removed from the market" whilst the 5th has been reduced from£999,999 to £95,450.*

*And they say prices aren't falling.

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I wouldn't be at all surprised if the software just totals up the numbers that happen to be in the database. Computers do precisely what they are told. If they don't do what you expect, it's because you told it wrong!

This could potentially be and embarassment for Rightmove if it was proven that publicly released statements were based on this sort of "data". I would expect a massive fall in their share price as investors scurry for the exits as a spotty teenage summer CS student tries to write a routine to correct Rightmove's prices.

:lol:

I contacted rightmove regarding this last year as I was concerned about manipulation of figures. Reply 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

Charlotte Wheeler

Market Intelligence Executive

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I contacted rightmove regarding this last year as I was concerned about manipulation of figures. Reply 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

Charlotte Wheeler

Market Intelligence Executive

Is "likely" to be excluded? :blink:

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I contacted rightmove regarding this last year as I was concerned about manipulation of figures. Reply 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

Charlotte Wheeler

Market Intelligence Executive

And this is one of the problems with RightMove ... they don't take into account properties sat on their books for a while whose asking price falls. Unless the property is de-listed and re-listed under a new number (only a few are), NO asking price reductions are accounted for in RightMove's figures. Until they begin to do this their figures are without value. Its a shame the press don't pick up on it.

Edited by jon

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Is "likely" to be excluded? :blink:

Yep, that's why the rightmove figures (as well as the other indices) should be ignored. We have no way of knowing the accuracy of the data used to formulate the final figures. Best thing to do (which most do here anyway) is to get out on the street and use your eyes and ears.

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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% +
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      • Even
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      • up 5%



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