Guest DissipatedYouthIsValuable Posted October 15, 2007 Share Posted October 15, 2007 http://www.rightmove.co.uk/viewdetails-156...se&tr_t=buy £6,539,584 4 bedrooms Detached BIRMINGHAM, West Midlands Haha, ludicrous. I'm going to lobby that anyone involved in Estate Agency is refused NHS care. It would be a positive public health measure. Quote Link to comment Share on other sites More sharing options...
BTLlivingthedream Posted October 15, 2007 Share Posted October 15, 2007 http://www.rightmove.co.uk/pdf/p/hpi/House...15thOct2007.pdf Quote Link to comment Share on other sites More sharing options...
f00l Posted October 15, 2007 Share Posted October 15, 2007 http://money.guardian.co.uk/houseprices/st...191490,00.html# I've said it before and I will say it again, this website will crash long before house prices. Quote Link to comment Share on other sites More sharing options...
RJG18 Posted October 15, 2007 Share Posted October 15, 2007 Oddly specifc price. i can't imagine any vendor plucking that out of the air on a whim. I'm guessing that we'll get a rare insight into the computer literacy levels amongst estate agents, as I expect to see elsewhere on that advert, that to enquire about this property you should dial 0800 349,995. Quote Link to comment Share on other sites More sharing options...
tinecu Posted October 15, 2007 Share Posted October 15, 2007 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. This index is utter rubbish. We should just laugh or ignore it. Quote Link to comment Share on other sites More sharing options...
f00l Posted October 15, 2007 Share Posted October 15, 2007 http://money.guardian.co.uk/houseprices/st...2191490,00.html There will not be a crash fools Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted October 15, 2007 Share Posted October 15, 2007 Guardian go with "House Prices Bounce Back". The actual article is better, but I can't find one with last month's data entitled "House Prices Plummet"... Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted October 15, 2007 Share Posted October 15, 2007 (edited) Yep, I noticed about a week and a half ago - see:http://www.rightmove.co.uk/viewdetails-156...se&tr_t=buy Wonder how many of these are dotted about the RM data? Call me fussy but I expect a bit more for my money at that level! Quite. Rightmove stats are a bag of shite. The government are a bag of shite. Northern Rock is a bag of shite. Journalists are bags of shite. Edited October 15, 2007 by DissipatedYouthIsValuable Quote Link to comment Share on other sites More sharing options...
Benedict Posted October 15, 2007 Share Posted October 15, 2007 Such a shame that rightmove haven't produced some mix adjusted numbers for their commentary, seems like such a cop out to just spend months saying "It's all rubbish thanks to HIPs". If HIPs is distorting the weightings re-weight it to compensate FFS. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted October 15, 2007 Share Posted October 15, 2007 On the upside, BBC1 news at lunchtime completely ignored the Rightmove report. Quote Link to comment Share on other sites More sharing options...
mybrainhurts Posted October 15, 2007 Share Posted October 15, 2007 Rightmove say Looking at regional price variations, the distorting effect of the introduction of HIPs hasbeen concentrated in the south where a 3 bedroom property is above the average price, especially in London where we have seen the largest regional increase. In addition there are fewer 3 bedroom properties in the south so when a substantial number suddenly come to market, the effect on average prices is more marked. When 1 and 2 bedroom properties hit their own HIP deadline, we expect to see a price fall of up to 5% in a month, driven by the same distorting effect, which will then be largely reversed in the following month. Which the Times paraphrases as Rightmove, the property website, predicts that prices could drop by 5 per cent for one and two-bedroom homes when they can no longer be sold without a Hip. Rightmove are very obviously saying that prices OVERALL will drop because 1 and 2 bedoom properties will distort the overall picture and that the drop will be an anomaly which will be reversed the following month. The Times thinks they mean the prices of 1 and 2 bedoom properties will fall and ignores altogether the point that the fall will be corrected. I am not sure I have ever seen such a huge error in a national newspaper. Feel free to tell me that I am making the error, not her. Quote Link to comment Share on other sites More sharing options...
spline Posted October 15, 2007 Share Posted October 15, 2007 This index is utter rubbish. We should just laugh or ignore it. Hi tinecu – If you can get hold of the historical Home.co.uk series, I’d be happy to include it in my house price tracker graphs. The RM thing is simply that the introduction of HPIS is causing the listing of different parts of the market to split along the time line, and this modulates the index price via the relatively weak mix-adjustment. The bears will love it again when the 2-beds feed though and dip the price. Quote Link to comment Share on other sites More sharing options...
Oh Dear Posted October 15, 2007 Share Posted October 15, 2007 Quite. Rightmove stats are a bag of shite. The government are a bag of shite. Northern Rock is a bag of shite. Journalists are bags of shite. This little beauty looks like it has just come on the market 3 Bed Quote Link to comment Share on other sites More sharing options...
D'artagnan Posted October 15, 2007 Share Posted October 15, 2007 http://www.rightmove.co.uk/viewdetails-156...se&tr_t=buy £6,539,584 4 bedrooms Detached BIRMINGHAM, West Midlands you may find that is a typo - perhaps should be 6 figure sum. I have seen a similar mistake where the property was 15,000 or thereabouts for a 3-bed semi. Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted October 15, 2007 Share Posted October 15, 2007 you may find that is a typo - perhaps should be 6 figure sum. I have seen a similar mistake where the property was 15,000 or thereabouts for a 3-bed semi. From the full brochure available on the Rightmove page, the correct price is £215,000. £6,539,584 instead of £215,000 Some Typo . Quote Link to comment Share on other sites More sharing options...
noyk Posted October 16, 2007 Share Posted October 16, 2007 I've noticed a large increase in the number of +500k houses in the area i look at, how is the rm index weighted? 3-4 months ago, there would be 30-40 now there are 70-80+. Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted October 16, 2007 Share Posted October 16, 2007 I've noticed a large increase in the number of +500k houses in the area i look at, how is the rm index weighted? 3-4 months ago, there would be 30-40 now there are 70-80+. As a matter of interest, are many of them listed with Countrywide on their "Superior" scheme, whereby the house is listed with two Countrywide agents. I wonder if this Countrywide scheme is skewing the Rightmove index. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted October 16, 2007 Share Posted October 16, 2007 As a matter of interest, are many of them listed with Countrywide on their "Superior" scheme, whereby the house is listed with two Countrywide agents. I wonder if this Countrywide scheme is skewing the Rightmove index. And let us not forget Countrywide are one of the founders of Rightmove and are a major shareholder. MD of Countrywide to Miles Shipshape ... 'what the FUUCCKKK do you think you're doing! Showing a fall of 2.6% last month! What are you trying to do to us - KILL THE MARKET! Make sure this month shows a 2.7% rise. Understood? 'Yes SIR!' Quote Link to comment Share on other sites More sharing options...
Benedict Posted October 16, 2007 Share Posted October 16, 2007 Rightmove say When 1 and 2 bedroom properties hit their own HIP deadline, we expect to see a price fall of up to 5% in a month, driven by the same distorting effect, which will then be largely reversed in the following month. WTF?!? How does that work? Surely when 1 & 2 beds hit their HIP deadline they'll reduce in number and that'll improve overall averages. Unless they're talking about the couple of weeks before when everyone lists at the last minute. Quote Link to comment Share on other sites More sharing options...
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