Rightmove + 1% mom -4.9% yoy

mystic_trev

The asking price of homes rose by 1% during the past month as new sellers failed to price their properties realistically, new figures showed.

The average property for sale in England and Wales now costs £229,691, following the first increase in asking prices during the four weeks to October 11 for five months.

But property website Rightmove warned that despite the recent "financial mayhem", many people were failing to price realistically and were tempted to think that their own home was more desirable than others on the market.

It added that estate agents were also competing for the few homes that were being put up for sale, on the off-chance that they could make a sale and boost their revenues before Christmas.

http://www.channel4.com/news/articles/business_money/home+sellers+urged+to+be+realistic/2589317

baby_boomer

Rightmove seems so far removed from reality that I almost wonder how much the figures are worth following?

I'm seeing plenty of decent flats on sale for 20% less than last year in the estate agents in my SE London neck of the woods.

abaxas

In other news....

Sellers in 'want more money' shocker.

Chris2685

Why isn't the index accessible from Rightmove? Their latest links to September... Or am I just being dense?

PasturesNew

It is available on rightmove site:
http://miranda.hemscott.com/static/cms/5/2/8/2/binary/3200862817/300735.pdf

It called sensible people who are waiting "Property Vultures".

howler_2

A pretty good report on the latest figures

http://www.aboutproperty.co.uk/news/house-prices/rightmove/record-fall-in-asking-prices-$1245278.htm

Chris2685

Looks like it updated between when I posted and now

poppy10_2

The pdf makes interesting reading... they seem to say the STR 'property vultures' are ready to pounce back in and rescue the housing market. Sounds a bit desperate.

Rightmove's always been up and down like a bride's nightie, anyway.

IveSeenTheLight

I've always queried rightmove as monitoring house asking prices and not reflecting actual prices.

I's interesting that while this was the bible for a lot of HPCers on here, the merits are now questioned when they show an increase

Chris2685

I just find the symmetry in the charts to be captivating

Up 1%. Down 1%. Up 3.4%. Down 3.4%

Davesnave

Could this be a case of acceptance by stealth?

'I know it'll never sell for this, but we'll add some on, so we can accept an offer well below asking.'

Or are the people going on the market now being forced to do it and still in denial?

'Damn nuisance needing to sell now, but thank God we've added value by giving this place some pretty special features...'

Hard to guess!