RightMove's House Price Index

libitina_2

http://www.rightmove.co.uk/viewdetails-5894041.rsp?pa_n=1&tr_t=buy

libitina_2

http://www.rightmove.co.uk/viewdetails-5923780.rsp?pa_n=1&tr_t=buy

wobblegobble

Been reading this with interest. I am surprised Bestthingsinlifearefree hasn't come to post his usual "house prices always go up in the medium term" nonsense yet. It looks like most people are in agreement about the direction of house prices then but I am sure I will soon be proved wrong

nmiah786

nmiah786 wrote:

Come one thats clearly a typo error!!!

Opps....I was oblivious, for a second, to the fact that Rightmove are using figures like these in their calculations for their HPI.

Also ignored the reason for the poster posting that link....apologies!

libitina_2

No worries

meanmachine_2

What astonishes me is how lazy most journalism is.

Look through a typical newspaper, or watch the news and 99% of it is just regurgitated press releases, sponsored surveys, or celeb "news" planted by PR firms ("house prices are now 200K and rising sharply" say a bunch of estate agents; 57% of Britons love yoghurt, according to a survey paid for by a yoghurt firm; Preston and Chantelle go on secret date, according to a "close source" aka their agent).

There's no actual news here. It's PR, spin and garbage.

the BBC, for example, reports rightmove's headline figures, but doesn't even bother questioning how or why they've arrived at this figure, just a few weeks away from their flotation.

You expect some kind of intelligence, or investigation, but you get nothing.

There's no conspiracy here. Journos are just lazy/are given too little time to use their brains.

eurows

There's no conspiracy here. Journos are just lazy/are given too little time to use their brains.

Absolutely agree. These are press releases sent by the relevent companies. These journos get paid for writing them for their respective papers and they have not even touched them.

blossom30

Hi. to my fellow money savers, Thanks to the original poster for starting this thread. I too have been taking an interest in what's happening with the housing market and thought I would add my tuppence worth.

I live in Glasgow and have been following market trends very carefully as I ,like others are astonished at some of the properties on the market and the really crazy asking prices, especially the ones in the not so nice parts of Glasgow(location ! location!). Anyhoo, I have reached the conclusion that FTBs and anyone upgrading are totally being taken for a ride by The government, all banks/building societies, estate agents and surveyors who are all after their cut.
Now, if this market is as buoyant as what we're led to believe then why is Countrywide estate agents closing so many of its offices...I'll leave that thought with you.

jonclarke

shrewdal wrote:

Now, if this market is as buoyant as what we're led to believe then why is Countrywide estate agents closing so many of its offices...I'll leave that thought with you.

A fair point. I think they shut almost 50 branches last year. Makes you wonder doesn't it ....

meanmachine_2

Just checked rightmove, and one particular road in particular. One house at 280K has finally sold after a year !! on the market. It started at 330K and slowly reduced in price. NONE of these reductions would have been included in the rightmove headline index.

Today an identical property has come on at a staggering 350K!!!!!! No wonder their figures are so ridiculously inflated.

It does explain how and why housing soars and then crashes. Just five years ago these properties were selling for 100K.

Let's get this into perspective, if I wanted to buy that on a standard mortgage I'd need to be on 100K a year! A CEO of a top company.

Hahahaha. "It's not a bubble".