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RightMove's House Price Index
Comments
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Land Registry looks backward.
Rightmove looks forward, onward and upwards towards a glorious flotation.
Thanks BTW to nmiah786. Your post with the rubbish tip pics made me :rotfl:.0 -
ReportInvestor wrote:Land Registry looks backward.
Rightmove looks forward, onward and upwards towards a glorious flotation.
Yup. The value of web sites only ever goes up..
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I smelt a rat with their figs too - just dosen't add up? I'm sure prices are still rising but not by 2.7% in a month, Right move are owned by three of the largest mortgage lemders. smells fishy to me!!!!0
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To be precise dm, it is owned by the largest mortgage lender (HBoS), a small/medium lender (Skipton BS just makes the top 20 & has the stake through its Connells EA subsidiary), an insurer (RSA) and an estate agent (Countrywide).
See this other MSE thread0 -
Nice house, but for a 4 bedroom place for £90K, i certainly wouldnt moan. I'm paying £130K for a 3 bed place which is a lot smaller than that.A bargain is only a bargain if you would have brought it anyway!0
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I've been doing something similar in Colchester, Essex. Just noting down House Prices, although not in any detail. (For houses around 120,000 to 150,000)
I would say that they have remained the same for the last 12 months. Possibly fallen, they definatly have not gone up.0 -
When it comes to thought, some people stop at nothing.........0
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Come one thats clearly a typo error!!!Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!0 -
But does it go into their figures?
Also, rightmove DOESN'T look at all of the properties on their database and come up with an average - they only include the latest arrivals. So of course that gives you a massive bias on the upside.
No wonder their index is some 40K above most of the others - they ignore the cheaper, older properties!!
Of course, the're likely to change their methodology in any crash, because that type of method exaggerates the falls as well.
Still, if people are prepared to pay these ridiculous prices, then obviously they're "affordable".
I see there are FTBers on here still eager to stump up ever greater proportions of their take home pay to "get on the ladder". The lenders are obviously giving them the rope - I say let them hang.
And all of this talk of a soft landing was clearly garbage. The market doesn't work like that - it goes up ridiculously high then crash ridiculously low. It doesn't do straight lines, because it isn't a rational market.
I wouldn't be surprised if we see HPI of 20% this year - and I'd welcome it. It makes the chances of this mythical soft landing even less likely.0 -
meanmachine wrote:But does it go into their figures?
Also, rightmove DOESN'T look at all of the properties on their database and come up with an average - they only include the latest arrivals. So of course that gives you a massive bias on the upside.
No wonder their index is some 40K above most of the others - they ignore the cheaper, older properties!!
Of course, the're likely to change their methodology in any crash, because that type of method exaggerates the falls as well.
Still, if people are prepared to pay these ridiculous prices, then obviously they're "affordable".
I see there are FTBers on here still eager to stump up ever greater proportions of their take home pay to "get on the ladder". The lenders are obviously giving them the rope - I say let them hang.
And all of this talk of a soft landing was clearly garbage. The market doesn't work like that - it goes up ridiculously high then crash ridiculously low. It doesn't do straight lines, because it isn't a rational market.
I wouldn't be surprised if we see HPI of 20% this year - and I'd welcome it. It makes the chances of this mythical soft landing even less likely.
Also from HPC:Jason.Rightmove have changed there methodology:
February 2005 release:
http://www.rightmove.co.uk/pdf/p/hpi/House...ebruary2005.pdf
"To calculate average asking prices for a given week or month, Rightmove.co.uk takes the
initial asking price for all new instructions on the site during the period, but excluding
any properties that are atypical*.
* in practice this means unusually expensive properties that are likely to distort the data
Does it say that in their latest release? NO.
I bet Rightmove are including Million pound houses and all those houses that are listed will silly prices!!!When it comes to thought, some people stop at nothing.........0
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