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teddyboy

Rightmove Out!

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Shall we search for erroneous data now?

Why the reference to stamp duty? Are rightmove trying to sway the chancellors hand before the budget? Me thinks so.

Edited by Jason

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Guest The_Oldie

To be honest, with properties like these listed on their website, it’s not surprising that they are showing prices rising. I'm afraid I can no longer take Rightmove's figures seriously :rolleyes:.

http://www.rightmove.co.uk/viewdetails-445...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-397...a_n=17&tr_t=buy

http://www.rightmove.co.uk/viewdetails-589...pa_n=2&tr_t=buy

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To be honest, with properties like these listed on their website, it’s not surprising that they are showing prices rising. I'm afraid I can no longer take Rightmove's figures seriously :rolleyes:.

http://www.rightmove.co.uk/viewdetails-445...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-397...a_n=17&tr_t=buy

http://www.rightmove.co.uk/viewdetails-589...pa_n=2&tr_t=buy

Oldie - I cant agree more but I bet this makes the 6 o clock news.

Its the man on the street that counts. They are generally swayed by it.

THIS COMPANY MAKES ME SOOO ANGRY!!!

I cant wait for it to go tits up on the Stock market crash!!!

ARRRGGHHHH!H!!!!!!!

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To be honest, with properties like these listed on their website, it’s not surprising that they are showing prices rising. I'm afraid I can no longer take Rightmove's figures seriously :rolleyes:.

http://www.rightmove.co.uk/viewdetails-445...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-397...a_n=17&tr_t=buy

http://www.rightmove.co.uk/viewdetails-589...pa_n=2&tr_t=buy

Any good compilation of stats would remove the extreme edges from the final calc. Any evidence that they don't do this?

In fact, I see on re-reading their release, that they've excluded 11,315 properties as anomolies. So either your faith should be restored, or you just simply can't BEAR the news......

Edited by Time to raise the rents.

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Guest The_Oldie

Any good compilation of stats would remove the extreme edges from the final calc. Any evidence that they don't do this?

In fact, I see on re-reading their release, that they've excluded 11,315 properties as anomolies. So either your faith should be restored, or you just simply can't BEAR the news......

It's a bit more complicated than that, but it's all explained in this thread which you have obviously missed.

http://www.housepricecrash.co.uk/forum/ind...showtopic=24736

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It's a bit more complicated than that, but it's all explained in this thread which you have obviously missed.

http://www.housepricecrash.co.uk/forum/ind...showtopic=24736

But the trouble is, they would have to list MORE portfolios as a ratio EVERY MONTH to keep prices rising.

Therefore last month's trick works AGAINST them next month.

Which you have obviously missed.

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Guest The_Oldie
Therefore last month's trick works AGAINST them next month.

Trick? Ah, so that's what it was :lol:.

The point is that if their database is flawed, their index is meaningless.

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To be honest, with properties like these listed on their website, it’s not surprising that they are showing prices rising. I'm afraid I can no longer take Rightmove's figures seriously :rolleyes:.

http://www.rightmove.co.uk/viewdetails-445...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-397...a_n=17&tr_t=buy

http://www.rightmove.co.uk/viewdetails-589...pa_n=2&tr_t=buy

The listing in the middle is actually for "Five Former Four Storey Terraced Dwellinghouses" so is perhaps not so outrageous.

An error? Should we now not take you seriously? ;) /jk

Oldie - I cant agree more but I bet this makes the 6 o clock news.

Its the man on the street that counts. They are generally swayed by it.

THIS COMPANY MAKES ME SOOO ANGRY!!!

I cant wait for it to go tits up on the Stock market crash!!!

ARRRGGHHHH!H!!!!!!!

So you didn't actually read the links either, eh? ;)

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Any good compilation of stats would remove the extreme edges from the final calc. Any evidence that they don't do this?

In fact, I see on re-reading their release, that they've excluded 11,315 properties as anomolies. So either your faith should be restored, or you just simply can't BEAR the news......

Whether this is filtered out or not is NOT THE POINT!

It should NOT BE HAPPENING!

I can understand £1,500,000 when it should be £150,000 - it is possibly a 'typo' but how on gods earth can £10,615,418 be a typo?????

As far as the portfolios and stuff - see the thread pointed to by Oldie. They should not be advertising GUIDE PRICES as TERRACED! yes - they need to advertise this but their methodology says it does NOT include new builds. Unless they proved me otherwise I cannot see how their database can filter out something that is MISDESCRIBED!

TTRTR - I think that you need a reality check! These KNOBS get a lot of press here and it is not right! They produce reports that are speculative and this gets HEADLINE news. The Factual reports LR/Haliwide Dont get the press coverage that these KNOBS get. Its propaganda taken to another level.

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Guest The_Oldie

The listing in the middle is actually for "Five Former Four Storey Terraced Dwellinghouses" so is perhaps not so outrageous.

An error? Should we now not take you seriously? ;)

It's listed as...

£1,000,000 1 bedroom Terraced

Therefore is presumably counted as a 1 bedroom terraced at £1,000,000 when calculating the index!

I don't propose to enter into any further debate on this thread, as the issue is well covered in the pinned thread which I linked to in my previous post.

http://www.housepricecrash.co.uk/forum/ind...showtopic=24736

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Just to let everyone know I am working on a major investigative journalist to expose the ridiculously priced houses that are being placed on Rightmove's website and the possibility that it is skewing the data. I will post the results if clearance is given and if the paper go with the story. We have to realise that the devaststaing effects of an (accurate) expose' will directly impact the economy, the pound, the entire credibility of all VI data and, worse, Gordon's prospects for No. 10. It is going to take a very brave journalist and editor to go with the story.

BTW Rightmove's stock is down again today by 1.18% while the FTSE continues to soar.

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Just checked BBC website--no mention! Could they be investigating the stats? Has Rightmove's "asking prices" lost all credibility? Too much to ask?

The index looks at trends, so as long as the headline figure is taken with a pinch of salt, and as long as the index compares apples with apples, it doesn't matter whether the company compares selling price with selling price or asking price with asking price (as long as the % of asking price realised doesn't change markedly).

And please... we have far too many pinned threads as it is so it seems a shame to rehash the same debate re: their stats all over again.

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Historical Rightmove numbers:-

March '03 MoM 1.2% YoY 22.5%

March '04 MoM 2.9% YoY 11.9%

March '05 MoM 0.6% YoY 8.6%

March '06 MoM 0.9% YoY 4.3%

Shows a healthy trend. The CRASH is happening with some 50% drops in appreciation. So far, the crash is long, painful but certain. As the fly said as it crawled accross the mirror: "That's one way of looking at it."

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This just bares out my experiences looking at houses at the weekend. They are on the up again, and no ammount of spin will change that.

Where?

We are seeing large reductions in the Worcester-Stratford belt of the West Midlands. Builders still discounting heavily with 5%+stampt+moving+legal fees thrown in without bargaining. My local paper has more "Reduced Prices" this week than last as prices continue to tumble. I hear the West Country is in the same boat also.

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The index looks at trends, so as long as the headline figure is taken with a pinch of salt, and as long as the index compares apples with apples, it doesn't matter whether the company compares selling price with selling price or asking price with asking price (as long as the % of asking price realised doesn't change markedly).

And please... we have far too many pinned threads as it is so it seems a shame to rehash the same debate re: their stats all over again.

I can't resist a quickie. It's not 'asking prices', it's 'asking prices

of properties which have not sold'. Why do you think there's

such a difference with Nationwide/Halifax selling prices ?

From the report:

'analysis...illustrates the decreasing number of properties priced below the 1% stamp duty threshold..'

They said this last month too: it's mainly the bottom of the market

that's moving.

If cheaper houses are getting rarer in their database, of course

the average price goes up.

Edit: thinking about it further, as selling prices fall, you would

expect RM to get further and further away

from the other indices, until people that can't sell start reducing

prices and new listings start to get less ambitious.

Pent

Edited by Pent Vaer

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Where?

We are seeing large reductions in the Worcester-Stratford belt of the West Midlands. Builders still discounting heavily with 5%+stampt+moving+legal fees thrown in without bargaining. My local paper has more "Reduced Prices" this week than last as prices continue to tumble. I hear the West Country is in the same boat also.

I'm looking at houses at the lower end of the market in Bristol priced at around 110-115K. I went round to look at 5 houses that I had earmarked over the last week and all of them had sold signs outside. Baring in mind they had only just come onto the market I think it signifies that houses are shifting again.

I have no idea whats happening with the other parts of the market though. It may be that the lower priced places are selling as they are the only ones that are within the range of your average FTB. For all I know there maybe significant drops with semis/detached places.

Edited by devslim

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I can't resist a quickie. It's not 'asking prices', it's 'asking prices

of properties which have not sold'. Why do you think there's

such a difference with Nationwide/Halifax selling prices ?

Actually it asking prices of new properties listed during the month.

Which as why as without a paddle says, the problem for proving these stats are incorrect is that

1) You have to prove the anomalies are not removed

2) Then to keep getting HPI, you have to show that all lasts months anomalies , which weren't removed were relisted or else you would get a large fall as they fell out)

3) New anomalies were listed (which weren't removed)

And every month this goes on every month, more and more of these anomalies would have to be listed. To get this years HPI, (as properties outside 3STD are removed) there would be more anomalies listed than genuine properties.

Therefore either EA are spending all there time putting false properties on, and of course not putting real ones on (If they did that then newly listed properties would double), and of course spending time answering the phone questions on these

Therefore either EA are spending all there time putting false properties on, and of course not putting real ones on (If they did that then newly listed properties would double), and of course spending time answering the phone questions on these "dummy" properties. Or the numbers are right, within a small margin of error.

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Guest Fiddlesticks

Therefore either EA are spending all there time putting false properties on, and of course not putting real ones on (If they did that then newly listed properties would double), and of course spending time answering the phone questions on these "dummy" properties. Or the numbers are right, within a small margin of error.

Spoilsport

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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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