Wednesday, July 4, 2007

76,161 reduced properties

Less reduced prices

Looking at propertysnake, the number of reduced properties have fallen significantly, by about 100,000 or so. Is this because EA's have cottoned on and found a way to massage figures, or does this reflect things on the street? Discuss! I couldn't put in the home page, which shows the number of properties sold, because it is not possible to post duplicate websites. So click home and you will get the full stats.

Posted by planning4acrash @ 10:53 PM (352 views)
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3 thoughts on “76,161 reduced properties

  • Have checked the rightmove web site( source for property snake) , the houses that were previously on property snake are still their on the rightmove web site in my area. Can only conclude the EA’s have removed tags relating to property price changes. i.e. the property will be given a new listing, so no reference can be made.

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  • Looking at the forum I think that one of two things have happened:

    1. Rightmove have had their lawyers move in on Propertysnake about reusing material (this is a popular theory at the mo)
    2. Property snake have got to grips with the duplicate data

    Anybody have any better ideas ?

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  • The area I usually look at on Proprty Snake used to contain a lot of duplicates – possibly 30% or so of the total listings. These have gone and that has to be a good thing as the overall figures were obviously being distorted before.

    However, the number of properties listed has gone down by more than just 30% so it definitely isn’t just the duplicates that have gone missing. There’s one property in particular that I know has been on the market for about 10 months now and has dropped in price twice from the original asking price, down £7,000 overall – it was on Property Snake but no longer, but it is still on Rightmove because I’ve just checked.

    I’m guessing the duplicates were because these props were advertised on more than one site. I’m guessing that one of the big sites is no longer featuring on Property Snake, which has removed the duplication but a lot of other properties besides. I’m guessing the site in question is Rightmove. I’m guessing Rightmove are very happy about this because it makes it less obvious what a shocking state the market is already in, and just how inflated their original asking prices are.

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