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Buffer Bear

Rightmove's Data +2.7%

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http://property.timesonline.co.uk/tol/life...icle2636848.ece

"The recent turbulence in financial markets, and the credit crunch it has caused, is having an effect. A report to be published tomorrow by Rightmove, the property website that tracks asking prices in England and Wales, shows that house prices have been flat for the past six months. Although prices in the four weeks to mid-October rose by 2.7%, this followed a 2.6% fall in the previous period."

Yeah, I believe this. They are putting some properties on their site with totally unachievable prices. I've just arrived home from having dinner with a friend. Her house was valued at 380k only last month yet the most a similar house has achieved on her road is 300k.

Edited by Buffer Bear

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http://property.timesonline.co.uk/tol/life...icle2636848.ece

"The recent turbulence in financial markets, and the credit crunch it has caused, is having an effect. A report to be published tomorrow by Rightmove, the property website that tracks asking prices in England and Wales, shows that house prices have been flat for the past six months. Although prices in the four weeks to mid-October rose by 2.7%, this followed a 2.6% fall in the previous period."

Yeah, I believe this. They are putting some properties on their site with totally unachievable prices. I've just arrived home from having dinner with a friend. Her house was valued at 380k only last month yet the most a similar house has achieved on her road is 300k.

5.3% in 1 month -> 69% per year ....

hmm ...

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Not really ... just like this months CPI will be 1.__% ... the market will win in the end.

Exactly. "Official" versions of events are becoming so detached from reality it's little wonder that more and more people choose not to vote and more of us turn to the internet for a reality check.

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sucker in the last mugs- yeah

This happened in the great crash of 1989- so nothing new here

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Guest grumpy-old-man
sucker in the last mugs- yeah

This happened in the great crash of 1989- so nothing new here

yep, I keep saying it.

Anomalies in the stats, don't spend your life working from the VI data, apply some common sense (not you bloo loo).

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The same way that I didnt celebrate last months results and indeed questioned how bears on here pick and choose whether the rightmove data is worthy of the paper its written on (last month it seemed they were accurate... <_< ) I will not be getting all worked up over an increase in the other direction!

Rightmove stats are rubbish no matter what they say and should be ignored! For gods sakes all they do is say how much people want for their properties! Any home owner who doesnt want as much as they can possibly dream for is not normal.. What they sell for is what matters and thats where the real falls will show!

(by the way it only takes data from new homes for sale so any reductions do not show on this stats... funny that.. <_< )

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Guest grumpy-old-man
The same way that I didnt celebrate last months results and indeed questioned how bears on here pick and choose whether the rightmove data is worthy of the paper its written on (last month it seemed they were accurate... <_< ) I will not be getting all worked up over an increase in the other direction!

Rightmove stats are rubbish no matter what they say and should be ignored! For gods sakes all they do is say how much people want for their properties! Any home owner who doesnt want as much as they can possibly dream for is not normal.. What they sell for is what matters and thats where the real falls will show!

(by the way it only takes data from new homes for sale so any reductions do not show on this stats... funny that.. <_< )

spot-on!

I never use any of the VI stats even if it is bearish news.

I must be wearing a different set of glasses to some on here because I see a crash happening right now. :ph34r:

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its strange, even on this forum, when people reminisce about the great old crash of the 1990,s that people still report some anecdotes of how their friends, neighbours etc flat/house eventually went for say 80K, then they go on to qualify it by adding " but it should have gone for 85K because it was a forced sale- divorce, death or whatever"

It must be human nature that people just cant accept that the "Value" of their property is what IS PAID for it, not what they THINK its worth.

Hence the total nonsense of Halifax, nationwide and indeed rightmove figures- no-one wants to admit they are losing.

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spot-on!

I never use any of the VI stats even if it is bearish news.

I must be wearing a different set of glasses to some on here because I see a crash happening right now. :ph34r:

i believe these stats as much as the 2.6% fall the month before - but if EAs really believe that trying to push prices up in a credit crunch is the correct business model, then good on them

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IF this is true then it is only right that some credibility is given to it as (VI or not) it is the leading property website and as a forward looking indicator it has value by the way it looks at properties comming onto the market in the last month and nothing else.

These figures are no doubt caused by Hips noise adversley affecting the mix of properties - as relatively more 4 beds come onto the market this month than last and the supply of smaller three beds falls away. In fairness they did give some factual analysis for septembers fall so they should do the same for this months rise((mmm). as the 3 bed numbers pick up again we should see some decent falls.

the time on the market indicator and stock levels will be interesting.

i believe what i see with my eyes daily

prices are being cut - (plymouth)

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If rightmove does indeed show a 2.7% increase, it would indeed be a set back for all bears. Whether the stats reflect the facts means nothing in the eyes of the media.

We all know what headlines we'll see on the BBC / The Sun, Mirror etc... and this all effects market sentiment. <_<:rolleyes:

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Did i read correctly that the RM stats are only on their newly listed properties? Not an average of all the ones they have for sale? Seems an odd way of doing things...

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The same way that I didnt celebrate last months results and indeed questioned how bears on here pick and choose whether the rightmove data is worthy of the paper its written on (last month it seemed they were accurate... <_< ) I will not be getting all worked up over an increase in the other direction!

Rightmove stats are rubbish no matter what they say and should be ignored! For gods sakes all they do is say how much people want for their properties! Any home owner who doesnt want as much as they can possibly dream for is not normal.. What they sell for is what matters and thats where the real falls will show!

(by the way it only takes data from new homes for sale so any reductions do not show on this stats... funny that.. <_< )

I am a bear and I couldn't agree more (especially with your first point). It's like the constant slating of the so-called 'VI' BBC (the same BBC that has brought us plenty of bear food which is conveniently forgotten!). And look at the way The Mervster is alternately hated and revered on this site everytime there's an interest rate decision. This kind of tinfoil-hat-wearing paranoia is giving this site a bad name and no doubt turns off a lot of the would-be HPCers that stop by here. It's embarassing, people! I find it quite amazing that some on here seem to think that *everything* somehow revolves around supporting the housing market at all costs and everything else can just go hang. It's undeniably important but not *that* important. Even the people in charge know this cannot go on forever.

Plenty of "VI's" are in fact nothing of the sort: Estate agents, for example, thrive on turnover of properties. Selling twenty properties a week at knockdown prices is far preferable to selling 5 for a bit more. When the market properly stagnates, they will be the first to be spreading crash rumours to encourage sellers to be more flexible and 'cash in' while they still can. A standoff situation does nobody any good. Think about it. Pump 'n' dump.

Mortgage lenders (i.e Haliwide) also make more money from a cyclical market rather than a stagnated one.

The whole system is geared to boom and bust. Always has been. Always will be. It never is different this time.

I know this because Tyler knows this.

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