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Rightmove Report London Properties Have INCREASED in the last month!!!
pickledpink
Posts: 763 Forumite
http://www.rightmove.co.uk/template/publicsite%2Caboutus%2CRTPRArchive.vm
Rightmove have reported that property prices in London actually INCREASED last month. Take a look at the link.:p
Rightmove have reported that property prices in London actually INCREASED last month. Take a look at the link.:p
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pickledpink wrote: »http://www.rightmove.co.uk/template/publicsite%2Caboutus%2CRTPRArchive.vm
Rightmove have reported that property prices in London actually INCREASED last month. Take a look at the link.:p
Which means to still experience a 1% fall, the rest of the country would need to fall far greater than 1% to achieve this average. I live in the South West which apparently fell 3.9% in that report!
Fantastic news for the majority, I don't live in London and never intend to!0 -
What it actually says is ASKING prices rose in the capital - NOT selling prices - as large numbers of high end homes were put on the market in the financial crisis engulfing The City.
No index exists which shows London SOLD prices up by anything at all in August - I challenge you to find any that do!
On the contrary, all recent indicators point to London selling prices being largely down on previous months. How many takers do you think there are going to be for the million pound plus homes the bankers are vacating?
(Clue: not a lot.)0 -
What it actually says is ASKING prices rose in the capital - NOT selling prices - as large numbers of high end homes were put on the market in the financial crisis engulfing The City.
No index exists which shows London SOLD prices up by anything at all in August - I challenge you to find any that do!
On the contrary, all recent indicators point to London selling prices being largely down on previous months. How many takers do you think there are going to be for the million pound plus homes the bankers are vacating?
(Clue: not a lot.)
Carol me lovely,
SOLD prices do not show for at least a good 3 months on the LR!
Rightmove have simply STATED that London property prices have INCREASED in the last month.
Hope you haven't run out of Sanatogen!:p0 -
pickledpink wrote: »Carol me lovely,
SOLD prices do not show for at least a good 3 months on the LR!
Rightmove have simply STATED that London property prices have INCREASED in the last month.
Yes lets all wait for the distorted land registry figures. Everyone knows that registry figures have been rigged for years by developers not showing the under the table discounts and gift deposits. All the registry figures are twisted then because people value other properties based on the heavily distorted ones.
Better off with the Halifax and Nationwide figures which show the prices based on mortgages lent on sales.
I believe Nationwide figures are out this Thursday.:D:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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As carolt mentioned, it's asking prices, which makes the information virtually useless. Actually no it doesn't, it proves there are still a fair few muppets in London with their heads in the sand.
The housing market certainly won't pick up until the economy is sorted, as the banks won't lend what they previously did. That's where the focus lies.
A rightmove report carries little weight too given that fewer agencies use them now (they were/are in trouble aren't they in terms of finances)."Boonowa tweepi, ha, ha."0 -
Also if prices increase by 1% and inflation is at 4.7%, housing is actually becoming cheaper each year."Boonowa tweepi, ha, ha."0
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pickledpink wrote: »So it's inflation that's skewing the figures then?
No, it's simply house prices are crashing. Keep clutching at straws guys.:D:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Elsewhere NDG reports that the number of properties on the market in her area has gone up significantly in the last month, 20% more iirc. So, as CarolT says, if those new properties are only a bit more expensive than the ones already on the market it can tilt the average. Apart from that, new sellers may tend to come on the market at a higher price then reduce later.No reliance should be placed on the above! Absolutely none, do you hear?0
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