Uk House Prices, Why It’s Not Adding Up

baileysbattlebus

There is a massive pent up sales demand which will eventually breach; Rightmove have in excess of one million properties for sale, their ratio of actual sales, versus properties on view, is at record levels. Other estate agent sources are actively bragging with regards to their pictures on brochures and on the walls of their inactive premises, at some stage they also have to turn a coin or perish

I've just had quick glance and this jumped out - Rightmove have a million properties for sale - have you looked at how many properties on RM appear twice or three times or even more.

I have been looking at it quite a lot in the last few weeks and it does drive me insane - I wish there was a way to filter out properties that appear more than once. But as they are on with different estate agents I am assuming there is no way of doing that.

So I suppose IMHO - there is no way that there are over a million individual properties on Rightmove - overall there may be - but knock out those listed more than once and I wonder what would be left?

And developments are even worse - with multiple listings of the same place quite common.

brit1234

tommy75 wrote: »

Oh & I bought the local gazette rag in Blackpool today. Front page headline in big letters : HOUSE PRICES UP

The same rag which is strangley funded by a large estate agent section by any chance, no vested interest there I'm sure.:rotfl:

tommy75

brit1234 wrote: »

The same rag which is strangley funded by a large estate agent section by any chance, no vested interest there I'm sure.:rotfl:

Well I picked it up from a stand near the winter gardens and walked past an estate agents totally empty apart from a woman and a man behind desks twiddling their thumbs. I remember the report saying 'estate agents having to take on new staff, the demand for property is so large'. I had to laugh.. the economy must still be really bad for so much vested interest.

tommy75

Infact this is the report: http://www.blackpoolgazette.co.uk/blackpoolnews/Blackpool-house-price-boom.5599752.jp


Just put 'HOUSE PRICES UP' in your mind for the font page.. :rolleyes:

StevieJ

brit1234 wrote: »

The same rag which is strangley funded by a large estate agent section by any chance, no vested interest there I'm sure.:rotfl:

I thought they were up

Jonbvn

Is this the confirmation bias thread where all the dull bears post, or should I get my fix elsewhere???

nollag2006

StevieJ wrote: »

I thought they were up

Sometimes the truth is unpalatable, so its easier to shoot the messanger

tommy75

Kreator wrote: »

I think what the last few months have made clear is rising house prices or their 'perceived' rising is absolutely necessary for the British economy, all the main stream press lap every single headline like the second coming of Christ. The reason seems to be is we have very little else to build from.

The question is, did the recession cause house prices to fall, or did house price falls cause a recession. The fact that this question isn't that easy to answer says it all. High house prices are a disaster for society has a whole going into the future, the problem is, the situation has gone too far, too much of the economy is based on high prices, that paradoxically for them too come down to a fair value now is also a disaster.

The UK is in a kind of 'undead limbo' where too much swing in either direction is bad news, yet no market can stay stagnant. The UK is not in a good position and it seems nobody, including governments have a clue on how to sort it out.

Yes but hangon, average house prices have fallen the odd 15% if your not trying to buy off a deluded '2007' seller, but interest rates have gone up about 2% so effectively there is no spoon. So far..


If your a cash buyer, its a slightly different story, but not much. 2002-2007 screwed the UK, watch..

System

Heyman wrote: »

Let's just take the first line -



Does ANYONE here actually agree with this?

It's a very biased article (again). Comments like this make the author look very bitter

"even the latest 'optimistic' price report from the Land Registry shows house prices 12% down on this time last year."

Yes, the one that lags, so called expert.

shakerbaby

http://mongabay.org/images/big_basin_2004/newt_hands_5.gif