soldup Posted May 15, 2006 Share Posted May 15, 2006 http://www.rightmove.co.uk/pdf/p/hpi/House...ex15May2006.pdf Get chewing over the bull my fellow bears Quote Link to comment Share on other sites More sharing options...
look to the past Posted May 15, 2006 Share Posted May 15, 2006 Quick I must buy in Kensington and Chelsea – before I am priced out – only gone up £40000 this month. Even Dagenham went up £3000 this month thanks soldup for the link Quote Link to comment Share on other sites More sharing options...
TwentyOneEleven Posted May 15, 2006 Share Posted May 15, 2006 Rightmove measured 125,959 asking prices – circa 70% of the UK market. The properties were put on sale by estate agents from 10th April to 6th May 2006 and advertised on Rightmove.co.uk. ...woudn't it be good if they also put up the actual "selling prices"!?! Quote Link to comment Share on other sites More sharing options...
Sisyphus Posted May 15, 2006 Share Posted May 15, 2006 ...woudn't it be good if they also put up the actual "selling prices"!?! No, they only deal in asking prices. Asking prices could be a very useful leading indicator to the direction of the housing market. The problem is that Rightmove's index would appear to be seriously flawed as discussed in depth here: http://www.housepricecrash.co.uk/forum/ind...showtopic=24736 Quote Link to comment Share on other sites More sharing options...
tinecu Posted May 15, 2006 Share Posted May 15, 2006 No, they only deal in asking prices. Asking prices could be a very useful leading indicator to the direction of the housing market. The problem is that Rightmove's index would appear to be seriously flawed as discussed in depth here: http://www.housepricecrash.co.uk/forum/ind...showtopic=24736 The biggest flaw with the rightmove index is that it doesn't take into account the discounting of prices over time (the Home.co.uk index does and shows a very different picture) Therefore at best the rightmove index is an indicator of sellers aspirations.....something that estate agents soon get to work on 'moderating'. Rightmove's hype only serves to stall the market further by driving a wedge between buyers and sellers. Surely this hurts the very people they serve...EAs, since low volumes = low profits. I wonder how long they, many of which who are now share holders, will put up with it. Quote Link to comment Share on other sites More sharing options...
Pablo-silver or lead? Posted May 15, 2006 Share Posted May 15, 2006 HA HA, Miles Slipslide there speaks a man trying to talk the market up until he can cash in his first tranche of stock options. He's an intelligent guy he dosent actually beleive any of this Bull$hit. New asking prices in the last month! So what! If they measured and quoted the volume, amount and value of price reductions on the existing instructions it would show the real picture. Here's the highlights. "If its not selling a price drop is the best course of action" and if you drop the price after initial instruction it wont affect our % calculation! "It cant keep rising like this but will flatten out rather than fall" Wana bet! Right move are struggling to justify the cra* their own methodolgy/sample come up with. Pablo Silver or Lead? Quote Link to comment Share on other sites More sharing options...
spline Posted May 15, 2006 Share Posted May 15, 2006 (edited) The biggest flaw with the rightmove index is that it doesn't take into account the discounting of prices over time (the Home.co.uk index does and shows a very different picture) ... Surely the whole point of an “asking price” index is that it measures the prices that people ask? And it’s much better to take the initial price at which the property is marketed at as this puts all the houses on the same footing – you avoid comparing old stale prices with new optimistic ones; and if the house is subsequently remarketed with a different agent, then IIRC this new (lower) price enters the index, again labelled with the correct sample date. The price that houses do eventually “go” for is recorded in various forms by Halifax, Nationwide, ODPM (now DCLG), and eventually LR, so there is little point in trying to replicate these "sold prices" as the data is already being collected. Much better to structure the "asking price" methodology so that some meaningful comparison can be made between "asking" and "sold". And it seems that Rightmove are doing reasonable job of this whereas the Home.co.uk index appears to be about 40% above all the others, and this despite its supposed “advantage” of tracking all the “stale” adverts. Edited May 15, 2006 by spline Quote Link to comment Share on other sites More sharing options...
look to the past Posted May 15, 2006 Share Posted May 15, 2006 Surely the whole point of an “asking price” Good call – I like rightmove as you can feel the market better than the others – at the moment sellers seem over optimistic – but hometrack will show us just how much over – I think the other reports when they catch up will be showing us that rightmove is more correct than it is given credit for here Quote Link to comment Share on other sites More sharing options...
tinecu Posted May 15, 2006 Share Posted May 15, 2006 HA HA, Miles Slipslide there speaks a man trying to talk the market up until he can cash in his first tranche of stock options. He's an intelligent guy he dosent actually beleive any of this Bull$hit. New asking prices in the last month! So what! If they measured and quoted the volume, amount and value of price reductions on the existing instructions it would show the real picture. Here's the highlights. "If its not selling a price drop is the best course of action" and if you drop the price after initial instruction it wont affect our % calculation! "It cant keep rising like this but will flatten out rather than fall" Wana bet! Right move are struggling to justify the cra* their own methodolgy/sample come up with. Pablo Silver or Lead? Very eloquently put Quote Link to comment Share on other sites More sharing options...
teddyboy Posted May 15, 2006 Share Posted May 15, 2006 To be honest RIGHTMOVES index is biggest load of b0ll0x going. I DONT CARE ANYMORE ABOUT IT - ITS NOT WORTH WIPING YOUR @RSE ON!! It should be dropped from this site altogether. Mrs. Miggins from the Pie Shop (Black Adder) has more credibility than Piles Shitside!!!! They should be ignored, apart from the pinned thread where we slag the fookers off TB Quote Link to comment Share on other sites More sharing options...
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