Rightmove house price index -1.7% august

Chris2685

Well, I can't disagree with that.

But I still say that in most cases the asking price falling will point to house prices falling, I haven't kept track of the data like some maniacs on here do, but from my memory I seem to recall if Rightmove prices dropped, so too did real price drops follow.

RDB

poppycod wrote: »

Why are the BBC so interested in spinning that house prices will go up?

Whats in it for them?

The top bods at the BBC have prob just bought in London and are worried that they will be in neg equity soon.

Exocet

Really2 wrote: »

It is very hard to derive what a house will sell/sold for based on the price it was marketed at.

It's a bit of a clue though! For example, when I see property that two / three years ago would have been snapped up, having to mark prices lower, I assume that it means the property market is a little way off the peak times. I agree for an accurate picture I should study the Land Registry figures in a few months time but a quick flick through Property Bee usually satisfies my curiosity.

ruggedtoast

Hello everyone. A bit out of the loop as I'm in Asia on business. Just got a quick mo and I see this is a long thread about negative numbers. Has it therefore comprised

A. Beastliness to graham
B. Not much Hamish
C. Acrimonious squabbling
D. Something sensible from Gen.

?

I do hope so. I've missed.all this. I even kept a bit of one I'd local papers here to transcribe about house prices.

Generali

ruggedtoast wrote: »

Hello everyone. A bit out of the loop as I'm in Asia on business. Just got a quick mo and I see this is a long thread about negative numbers. Has it therefore comprised

A. Beastliness to graham
B. Not much Hamish
C. Acrimonious squabbling
D. Something sensible from Gen.

?

I do hope so. I've missed.all this. I even kept a bit of one I'd local papers here to transcribe about house prices.

Hello ruggedtoast.

Are you sure you've not read the thread? You describe it pretty much perfectly.

Dirk_Rambo

Exocet wrote: »

It's a bit of a clue though! For example, when I see property that two / three years ago would have been snapped up, having to mark prices lower, I assume that it means the property market is a little way off the peak times. I agree for an accurate picture I should study the Land Registry figures in a few months time but a quick flick through Property Bee usually satisfies my curiosity.

thats a very good point exocett. i do the same myself. -1.7 percent is a mighty fall in any ones book

IveSeenTheLight

Dirk_Rambo wrote: »

thats a very good point exocett. i do the same myself. -1.7 percent is a mighty fall in any ones book

Remember the fundamental difference of sold and asking prices

Exocet

IveSeenTheLight wrote: »

Remember the fundamental difference of sold and asking prices

I thought in Scotland they were the same?

IveSeenTheLight

Exocet wrote: »

I thought in Scotland they were the same?

Nope, definately not.
In Scotland prices have and still do go above the asking price.

It's a sealed bid process, so sellers put up asking prices generally lower than value to attract more interest.
More noted interests means higher competition and a requirement to bid more competatively to secure.

I recently gave an example where the asking price and HIP valuation was £250k.
That property had 10 bidders and sold for £280k, £30k above the valuation and above the asking price