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Jason

Rightmove - April +2% Mom, 5.9% Yoy

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Dear God, there is no end to the madness. Will the BoE raise rates or sit back again and watch another gigantic super bubble emerge?

I wonder what tomorrows Express front page will be.

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This link is giving page not found and the one linked from the rightmove page is Aprils?

It should appear there later... Rightmove are being a little slap dash today.

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Just ignore everything RIGHTMOVE - It's a SPECULATIVE index not a SOLD PRICE index.

They are on the last of the bull runs. They will be eating humble pie in 3 months -believe me!

TB

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Sorry guys, but you can't keep on saying that Rightmove is b@llocks month after month.

They are a lead indicator of where prices are going as they measure asking price when the house comes to market. They may not be exactly accurate but they do indicate the market is strong and going upwards.

The size of the rise doesn't suprise me - my own stats for my own area, show a whopping 5% rise in the average of asking price in the month. They are plenty of sold boards about too. You might be able to fool the desparado's on here but you can't fool the British Public.

Your only hope now is that the BoE think they had better put up IRs to 4.75% to cool things down. Even if they do that (highly unlikely in the near term) then it will just cause the market to stabilise.

House Price Crash - not a snowballs chance in hell of one !

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{NEWSFLASH} This just in.

Last months I didn't stand a snowballs chance in hell of buying a property at an affordable price. This month things much the same...

{/NEWSFLASH}

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Just ignore everything RIGHTMOVE - It's a SPECULATIVE index not a SOLD PRICE index.

They are on the last of the bull runs. They will be eating humble pie in 3 months -believe me!

TB

Sorry cant agree with just "Ignoring" the biggest property website in the country. Its what I use to look at houses when I dream of owning one :) I understand asking prices are not a good measure of the average price of a house, but they are a very good measure of which way the market is heading.

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Things really do seem to be picking up again!! crazy!!!

Maybe we'll go the same way as Ireland after all! :blink:

Im still convinced it will all come to a painfull end, but when is anyones guess - it may take something like war in the Middle East (and the resulting massive increase in oil prices) or a series of terrorist attacks to burst the bubble.

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Sorry guys, but you can't keep on saying that Rightmove is b@llocks month after month.

They are a lead indicator of where prices are going as they measure asking price when the house comes to market. They may not be exactly accurate but they do indicate the market is strong and going upwards.

The size of the rise doesn't suprise me - my own stats for my own area, show a whopping 5% rise in the average of asking price in the month. They are plenty of sold boards about too. You might be able to fool the desparado's on here but you can't fool the British Public.

Your only hope now is that the BoE think they had better put up IRs to 4.75% to cool things down. Even if they do that (highly unlikely in the near term) then it will just cause the market to stabilise.

House Price Crash - not a snowballs chance in hell of one !

Is you look at Home.co.uk, which uses Rightmove properties (plus others) you will see a very different picture. The difference? They exclude prices over £1m, and under £20k. They also do a monthy snap shot so includes any reductions.

Either way, the ODPM is out today - far more acurate!

Edited by Jason

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Sorry guys, but you can't keep on saying that Rightmove is b@llocks month after month.

They are a lead indicator of where prices are going as they measure asking price when the house comes to market. They may not be exactly accurate but they do indicate the market is strong and going upwards.

The size of the rise doesn't suprise me - my own stats for my own area, show a whopping 5% rise in the average of asking price in the month. They are plenty of sold boards about too. You might be able to fool the desparado's on here but you can't fool the British Public.

Your only hope now is that the BoE think they had better put up IRs to 4.75% to cool things down. Even if they do that (highly unlikely in the near term) then it will just cause the market to stabilise.

House Price Crash - not a snowballs chance in hell of one !

Interesting! I've been monitoring the 'Sold prices' of the NW area of London using Rightmove's website. Prices have declined from £261000 to £242,000 over the same period the same website has been showing big increases in 'Asking Prices'

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My sister bought a house last October for £295k. She is in the middle of putting an extension on the rear. Its unfinished and she is spending around £25k. Had a local agent round yesterday to value the property for mortgage purposes.

Guess what valuation the agent said - ????

Only half a million. !!!!!!!!!

I kid you not - when there is madness like this about, nothing makes sense.!

Lou

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Unfortunately I have to say that the Rightmove report does reflect the increase in asking prices that I have seen in Birmingham. There seems to be more on the market and plenty that has been stuck on the market for quite some time. However this does not seem to have prevented a widespread strategy by Estate Agents to add significant amounts to asking prices. It may be that the VI's are aware that the bubble is likely to burst at some point in the not too far distant future and have decided to up asking prices to create a bigger cushion for prices when they do start to fall across the board.

As usual I think we should be actively campaigning directly about the downside of high and rising prices and making visible the positives of falling prices for would be FTB's and owner occupiers who would like to move up the property ladder. If we had got our act together a couple of years ago I think we could have effectively been exposing VI stategies such as this one (raising asking prices) as they appeared rather than the current situation we find ourselves in - i.e. we notice what is happening and have a conversation about it, full stop. I think we should have been (and should be) campaigning for responsible lending practices by the mortgage lenders. I think this is a major contributor to the ongoing inflation of the house price bubble. Whilst people can get their hands on the money they will continue to pay ever increasingly ridiculous prices for property. Whilst we, as a group, are good analysts, observers, arguers, etc. we remain, unfortunately imo, passive victims of circumstance and are having to wait much longer to jump onto the property ladder than we might have had to.

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A dose of reality from the ODPM:

http://www.tiscali.co.uk/news/newswire.php...y_template.html

House prices up 3.3 percent
15/05/2006 08:52
LONDON (Reuters) -
House prices rose 3.3 percent in the year to March,
lower
than the downwardly revised 3.4 percent house price inflation reported for the month before
, the government said on Monday.
The Department for Communities and Local Government, formerly the Office of the Deputy Prime Minister, said the average house price stood at 186,519 pounds in March compared with February’s downwardly revised 182,925 pounds.

Trend line still shows a gradual decline. Not much, 0.1%, but something at least. :)

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Sorry guys, but you can't keep on saying that Rightmove is b@llocks month after month.

They are a lead indicator of where prices are going as they measure asking price when the house comes to market. They may not be exactly accurate but they do indicate the market is strong and going upwards.

The size of the rise doesn't suprise me - my own stats for my own area, show a whopping 5% rise in the average of asking price in the month. They are plenty of sold boards about too. You might be able to fool the desparado's on here but you can't fool the British Public.

Your only hope now is that the BoE think they had better put up IRs to 4.75% to cool things down. Even if they do that (highly unlikely in the near term) then it will just cause the market to stabilise.

House Price Crash - not a snowballs chance in hell of one !

LOL!! Nearly one third of the SSTC in my area have already come back to market in last couple of weeks. Things have just begun to get interesting. Two more of my colleagues hace pulled their offers back. Buyers are now dreading the word IR.

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Sorry guys, but you can't keep on saying that Rightmove is b@llocks month after month.

They are a lead indicator of where prices are going as they measure asking price when the house comes to market. They may not be exactly accurate but they do indicate the market is strong and going upwards.

The size of the rise doesn't suprise me - my own stats for my own area, show a whopping 5% rise in the average of asking price in the month. They are plenty of sold boards about too. You might be able to fool the desparado's on here but you can't fool the British Public.

Your only hope now is that the BoE think they had better put up IRs to 4.75% to cool things down. Even if they do that (highly unlikely in the near term) then it will just cause the market to stabilise.

House Price Crash - not a snowballs chance in hell of one !

meanwhile, back in the real world in North Yorkshire......

reality

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Guest Winners and Losers

Thanks for the links, but I'm past caring to be honest.

Ditto - I think we have reached the same point in time WL!

My sister bought a house last October for £295k. She is in the middle of putting an extension on the rear. Its unfinished and she is spending around £25k. Had a local agent round yesterday to value the property for mortgage purposes.

Guess what valuation the agent said - ????

Only half a million. !!!!!!!!!

I kid you not - when there is madness like this about, nothing makes sense.!

Lou

WTF, an increase of 200k in 6 months. Gimme a break. I'd like to see her try to sell it for that. :rolleyes:

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They may as well say HPI is 20% coz I'm not even willing to buy at todays prices

I'd be commiting financial suicide esp when interest rates go up

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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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