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Rightmove - Houses "flying Off The Shelves"

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All regions are now positive apparently, up over 5% since last month. What a load of b*llocks.

By blatently ramping before listing they should be charged with fraud. Its just one big lie.

Only the third person to post this today ;)

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However, Rightmove's figures do not reflect the prices at which properties actually sell

Even the BBC had enough sense to put that at the bottom of its article.

Does anybody have the right contact to challenge how they work out their average?

Those £10 million places could have been placed there specifically to make it look as though house prices are rising and could be acts of fraud :ph34r:

Edited by bungy

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Even the BBC had enough sense to put that at the bottom of its article.

Does anybody have the right contact to challenge how they work out their average?

Those £10 million places could have been placed there specifically to make it look as though house prices are rising and could be acts of fraud :ph34r:

remember, these figures are based on ASKING PRICES.

This topic is pinned up top, by the way...

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Those £10 million places could have been placed there specifically to make it look as though house prices are rising and could be acts of fraud :ph34r:

They are quoting the asking price. The only way they are going to do that is by going through the database, so I would say that the inflated figures get quoted as well. Unless they have two fields: actual_asking_price and rightmove_inflated_price which I doubt.

I agree we need to find out how they calculate the prices.

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All regions are now positive apparently, up over 5% since last month. What a load of b*llocks.

By blatently ramping before listing they should be charged with fraud. Its just one big lie.

Yes it’s defiantly a lie – who would believe that property’s could ever go up by such a huge amount –in the last 7 years they often have gone by more than 5% - we are still have low interest rates.

Estate agent’s can set the prices at whatever they want, if I was a estate agent I would over value everything by 5% which would make the stuff that people actual want to sell (only over valued by 2%) fly of the shelves – crash averted

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asking prices are a different ball game if people are starting to get huge discounts.

Remember some new builds ask you to pay the asking price then give you the discount, hence distorting the figures somewhat!

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A sign of desperation. Trying to kick start the housing market at the start of a year that will prove harder than last year and may even see the start of the correction proper.

Global interest rates are rising, either ours follow and the debted get screwed, or they fall / stick and everying we import gets more expensive in which case everyone gets screwed.

Growth faltering leading to.........

Need I go on?

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asking prices are a different ball game if people are starting to get huge discounts.

Remember some new builds ask you to pay the asking price then give you the discount, hence distorting the figures somewhat!

But there not getting huge discounts – the accepted amount is much the same as always (on old property's anyway)

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Just an Idea that could be taken up by someone with the time, analytical skills and motivation.

Rightmove are heading for a Flotation. This must entail legal restrictions on how they report market sensitive information that may have an impact on the flotation price. If it can be demonstrated that the data entered onto their site is either inaccurate/corrupted due to poor management/data input controls etc or worse that they are hyping/misleading the property data on their site to assist its own share floatation, that could cause them problems with the regulators! It may be worth asking the question of the appropriate regulators and indeed Rightmoves own ‘Flotation’ advisers whether they are comfy with both the quality and validity of the numbers they are bandying around at this particular time?

Pablo Silver or lead?

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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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