Hooray! Asking prices down!

chucky

doire wrote: »

When its a 0.000000000000001% rise Hamish goes bonkers and posts another one of this posts and his bullish mates all jump onboard declaring everything is rosey....but when a bull posts a fall its suddenly a load of bullsh1t

i don't even think you even believe what you've just posted...

Emy1501

chucky wrote: »

Rightmoves asking price index went up 6.2% in a month why can't they go the other way...

when you see a thread titled "Hooray! Asking prices down!" you're going to expect something a bit more spectacular rather than 0.6% down :money:

I think that was only in London. I would agree with your point though. To be honest asking price figures are pretty pointless and that only show what Sellers and EAs are thinking rather than what is happening.

doire_2

chucky wrote: »

i don't even think you even believe what you've just posted...

The 0.000000000000001% was a slight exaggeration

chucky

Emy1501 wrote: »

I think that was only in London. I would agree with your point though. To be honest asking price figures are pretty pointless and that only show what Sellers and EAs are thinking rather than what is happening.

i don't think they're totally pointless - they at least provide an indication of sentiment and are a lead indicator if we take the over a few months (not one month like some monkeys are trying to do here)

chucky

doire wrote: »

The 0.000000000000001% was a slight exaggeratiuon

really!?

i'm used to these posts from you and really did think you were being serious again

ruggedtoast

Emy1501 wrote: »

I think that was only in London. I would agree with your point though. To be honest asking price figures are pretty pointless and that only show what Sellers and EAs are thinking rather than what is happening.

Theyre not pointless. People usually dont start off offering more than the asking price.

In general properties sell at or below asking prices so lower asking prices are an indication of a trend.

Or it could just be a couple of chelsea mansions have seen drops and thats affected the entire country.

Emy1501

ruggedtoast wrote: »

Theyre not pointless. People usually dont start off offering more than the asking price.

In general properties sell at or below asking prices so lower asking prices are an indication of a trend.

Or it could just be a couple of chelsea mansions have seen drops and thats affected the entire country.

Rightmove shows 6% up in London this month I suspect it will be quite down next month. Of course which ever way it goes the headlines will either be boom continues or the crash is back. The reality is EA's and in many cases sellers set asking prices and these are often absed on what a seller needs to get in these times rather than what a property is worth.

The only real figures I pay attention to are the Haliwide figures and even then I do not pay a great detail to them either. Their own real benefit for me is that I know what sellers thought process will be regarding offers etc.

ruggedtoast

The problem is there is no average house.

HAMISH_MCTAVISH

bernard_shaw wrote: »

"When the levee breaks..."

Would that be the same levee that broke a few months ago when Rightmoves asking price index dropped for a month.....

And yet sold prices kept on rising anyway.;)

We are well overdue for the winter dip, as forecast by bears and bulls alike. I'm quite frankly shocked prices have recovered by so much so soon, and that the gains lasted into October or November. Amazing performance.

Small winter declines are to be expected, but only dreamers think theres any prospect of seeing falls similar to last year. YoY positives are almost guaranteed from now on, even if prices do fall back a little.

Besides, this spring/summer/autumn bounce lasted so long, theres only a few months left til the next spring bounce starts now.:beer:

Graham_Devon

HAMISH_MCTAVISH wrote: »

YoY positives are almost guaranteed from now on, even if prices do fall back a little.

Something tells me, after the biggest boom we have known, this guarentee won't play out.

However, I'm inclined to think we may now be waiting for proper price reductions for at least a couple of years. Too much intervention into the markets now for the real economy to show its colours.