This so called rise in house prices...

IveSeenTheLight

chucky wrote: »

some people do not have the capability to understand do they... there are just some men that you cannot reach... :rolleyes:

the price increases have been on the Halifax, Nationwide and Land Registry indexes these do not work off asking price.

if you want to look at an index for asking prices have a look at Rightmove.
that index has increased also - how do you explain that one?

maybe it's the bank of mum and dad increasing the asking price on every property in the UK... :rolleyes:

On the bold bit, you can see I use it in my signature,
I believe it is one of the best lines in any film.

From Cool Hand Luke, the full quote is: -

"Wh wh what we've got here is....failure to communicate.
Some men you just can't reach.
S So you get what we got here last week, which is the way he want's it.
Well he get's it.
I I don't like it any more than you men"


You can hear the quote used in Gun's N Roses Civil War.
Starts on 32 secs of the link
http://www.youtube.com/watch?v=E9VhD4SccSE

tomstickland

IveSeenTheLight wrote: »

When will people realise that asking prices mean nothing?

As a purely hypothetical example.
A property could have been bought for £90k a few years ago.
The buyer tries his hand and markets it for £150k.
It doesn't sell.
The seller then reduced the price, markets it and sells at £120k

Now has this property reduced by 20% i.e. a drop from the initial asking price of £150k to £120k
or
has the property increased by 33% from £90k to a sold price of £120k?

When the original asking prices are in line with what they were 2 years ago.


Edit: Oh dear, I seem to have stirred up something here.
I'll simplify the text for you:


"In my locality houses are selling for less this year than they did 2 years ago."

Really2

tomstickland wrote: »

When the original asking prices are in line with what they were 2 years ago.

But some were purchasing last year at 2004 prices.

But 2 years ago was 2007.!!!!!!!!!!!!!

Do you mean house prices in 08 near you were higher than that.:eek:

Edit

The HPI indexes are YOY and they have them down as selling below peak.

Seen you edit I have now added bold also.

tomstickland

From my Rightmove observations:
In many cases initial asking prices in 2008/2009 are the same as they were in 2006/2007.
However, for a property to sell the asking prices are having to be dropped considerably.

ie: Selling prices in 2009 are lower than they were in 2007. For my area and the properties I am looking at.

Really2

tomstickland wrote: »

ie: Selling prices in 2009 are lower than they were in 2007. For my area and the properties I am looking at.

And they are on every HPI index.

IveSeenTheLight

tomstickland wrote: »

When the original asking prices are in line with what they were 2 years ago.


Edit: Oh dear, I seem to have stirred up something here.
I'll simplify the text for you:


"In my locality houses are selling for less this year than they did 2 years ago."

This is far different than what you originally wrote

tomstickland wrote:

This so called rise in house prices over the last year.
Looks a bit thin on the ground when looking in my local area on Rightmove with Property Bee. I'd say that 90% of the properties I've looked at (under £150K) have a series of price reductions showing. Some by 25%.

I merely commented that asking prices i.e. property bee and Rightmove, mean nothing when refering to house prices and whether they are rising or not

chucky

tomstickland wrote: »

Edit: Oh dear, I seem to have stirred up something here.
I'll simplify the text for you:

putting your view in font size 48 doesn't make you're point any clearer but actually makes you seem more desperate and even that little bit more simple because you've changed your mind in the matter of 8 posts...

tomstickland wrote: »

This so called rise in house prices over the last year.
Looks a bit thin on the ground when looking in my local area on Rightmove with Property Bee. I'd say that 90% of the properties I've looked at (under £150K) have a series of price reductions showing. Some by 25%.

Rightmove shows the Index being up year on year and nearly back to peak.
Unless your areas peak was in 2003 - you're not maiing yourself look to bright Thomas...



http://www.rightmove.co.uk/news/files/2009/10/national-asking-price-trend-table.gif

IveSeenTheLight

tomstickland wrote: »

From my Rightmove observations:
In many cases initial asking prices in 2008/2009 are the same as they were in 2006/2007.
However, for a property to sell the asking prices are having to be dropped considerably.

ie: Selling prices in 2009 are lower than they were in 2007. For my area and the properties I am looking at.

Has anyone here said the house prices in 2009 were higher than 2007

The indexes are showing rising prices from earlier this year, with halifax only this month showing that they were 0.4% higher than a year ago (that's 2008, not 2007)

System

This thread worked out well.

HAMISH_MCTAVISH

Joeskeppi wrote: »

This thread worked out well.

Indeed.

Some people are lowering asking prices from 2007 levels before houses sell.

What a staggering revelation.

How is it possible none of us realised that would be the case?

What were we thinking using all the major national indices of sold prices when we could have just asked Tom for some anecdotal stories about asking prices and property bee in his local area.:rolleyes: