Rightmove October 2011 +2.8%

Mallotum_X

Really2 wrote: »

Likewise I think it would be foolhardy to believe that a rise in asking prices means the difference in price achieved has increased.

RM only lists new instructions, not the whole of their listed properties, so its only an increase in new instructions.

Unless sold prices increase by 3% a month then the gap between sold prices and RM new instructions index has to widen surely.

So with all the sale indices showing falls are you really predicting sold prices are about to jump by nearly 3% a month? And if so on what basis?

Pimperne1

shortchanged wrote: »

All this news from Rightmove has really given me hope.

I think I'll put my house on the market for £300,000, even if it is only worth £150,000. Might be able to fool some idiot eh.

I think the point is that it was only worth about £146,000 last month (not that I would take this data very seriously).

shortchanged_2

Pimperne1 wrote: »

I think the point is that it was only worth about £146,000 last month (not that I would take this data very seriously).

No it was worth £152,000 last month, I'm just trying to fool people into believing it's worth more.

Some people buy into this see.

Percy1983

I really did believe both bull and bear had finally agreed this index has very little meaning. Firstly the way it is calculated is a bit iffy to say the least and as always asking prices and sold prices are very different things.

I will say the same which ever way this index points.

I suppose it can give an indication of sellers hopes, but they don't mean much in a buyers market.

MrRee_2

There is great sadness on the HPC Forums ..... a lot of denial and finger pointing to computers being wrong and not able to add up properly - some of those posting there have been posting about the crash for 7 years or more! All those years where they have been buying someone elses house for them - nuts! Most, of course, will never buy at any price.

Back to the figures - they may have some validity, as Mortgage Approvals are well up and this means properties have been selling. It is human nature, I'm afraid, to assume that your house today is worth more than the one down the street which sold in June - and therefore you put it on the market for a % more.

Of course, all these inflated prices will be knocked down and the sellers are expecting 15% OFF offers to come in.

I personally think that people are fed up putting their lives on hold while they 'hope' for a crash .. which isn't about to happen anytime soon (or ever) .. and they are now buying and living their lives.

Another BIG driving force is the uncertainty over the safety of Bank deposits! Who wouldn't rather have something to touch, feel, enjoy, than a bunch of numbers on a Bank balance sheet? I ceratinly would!

geneer

Graham_Devon wrote: »

Of delusion.

See Hamish now likes this index again!

Who could have predicted that!


As always the main thing to note about rightmove is that it only contains the average asking price for properties added in the last month.

No doubt why the other asking price indexes, which contain an average of everything on their books, appear to be more realistic.

geneer

HAMISH_MCTAVISH wrote: »

Basically a few mostly Northern England areas with significant falls are skewing the national indices downwards. But for most people in most places prices are stable or rising.

"most people in most places" is becoming a bit of a mantra for Hamish.

You have to wonder about the accuracy of an unsubstantiated assertion which effectively dismisses half the country. :rotfl:

ukcarper

Percy1983 wrote: »

I really did believe both bull and bear had finally agreed this index has very little meaning. Firstly the way it is calculated is a bit iffy to say the least and as always asking prices and sold prices are very different things.

I will say the same which ever way this index points.

I suppose it can give an indication of sellers hopes, but they don't mean much in a buyers market.

No I think what really happened was bulls agreed it was bad when it showed a fall and bears when it showed a rise.

Really2

Mallotum_X wrote: »

So with all the sale indices showing falls are you really predicting sold prices are about to jump by nearly 3% a month? And if so on what basis?

1+1 = A Squirrel.

Me + Does not think sold prices will be up 2.8% next month = Me saying they will be up 3% a month?

If you are going to make up what I say, at least do not do it on a thread where people can't look back on the previous page and see I never said it.

Asking prices went up in one month, crikey!!!
I presumed when the asking prices index falls next the percentage of asking price achieved will increase?
I won't wait for that to be raised by yourself though.

Percy1983

MrRee wrote: »

I personally think that people are fed up putting their lives on hold while they 'hope' for a crash .. which isn't about to happen anytime soon (or ever) .. and they are now buying and living their lives.

Interestingly I would say the same could be said for some sellers, I see houses listed for 6 months+ then one day the price drops £20k and a month later its sold.

Yes some buyers may be holding back waiting for lower prices, but like wise there is some sellers holding back selling wanting a higher prices.

Its where the 2 agree that a price is set.