Rightmove...interesting

natwill_3

Has anyone seen their August report that prices down slightly?.

I own property but would be happy if prices stopped rising so rapidly

barrymoney

Hi,

Is that the actual sale price they are monitoring?

I know its crazy to extrapolate from one case, but I will anyway!
I think there are good signs that in my area (overpriced Berkshire...) prices at the bottom of the market are not rising: I bought a starter home here last November, advertised price 149,950 (paid 5K less than that). On Rightmove this week is an *identical* house in the next street, at the exact same price.
Also, I've been watching Rightmove over that period of time, just out of curiosity, and some houses here have been advertised for a l-o-n-g time.

natwill_3

Hi,

I think its asking prices. In West London there are several properties that have been reduced that I viewed earlier in the year...usually empty or ones with a problem, iE need doing up or vendor asked too much in first place!

However there is still a shortage of properties on the market so I think at the moment its just the "dogs" that are hanging around and being reduced...

F_T_Buyer

Rightmove is not just asking prices, it is initial asking prices. So those who reduced their price after so many months, won't be included in their index.

If you want asking prices including reductions try https://www.home.co.uk

To be honest, I don't value these type of surveys - especially Rightmove as they are full of spin ("flying off the shelves" ay Rightmove!).

If you want a future indicator look at mortgage approvals to buy property (not remortgaging). The info comes from the Bank of England.

Zammo

It's asking prices and as a result gives an inflated view of the market. The fact that they are going down is a great sign of things to come though.

pigeonpie

Depends where you live. Prices continue to skyrocket in London.
Rightmove don't update their website efficiently. I rang agents re advertised properties about 5 properties in the last week only to be told 3 of them were all under offer, one had just completed and one was in fact sold months ago. Seeing as RM want to list (methinks?) and there should be some automated update from agencies to them possible, it's really annoying. Wastes my time and money & makes it more difficult to find anything.
As will probably have to rent for yet more months (if can find a suitable rental!) I hope that prices will slow in the next year. Right now there is so little for sale that owners are getting 20 - 40k too much for their properties & the sea's more full of sharks than ever. Could do with a bit of level playing field between buyers and sellers in London I reckon. Dream on...:(