Rightmove Feb: +4.1% - Prices rise at fastest rate in a decade!!!

chewmylegoff

Graham_Devon wrote: »

In a way. Be interesting if the fluctuations continue to get bigger and bigger.

It's only November where there was a +3% fall in asking prices. It seems to swing pretty wildly at the moment....just wondering what's at play here to create these large swings.

I mean....15.7% up in a month in Richmond-upon-Thames? What's going on there. Are the volumes so low that one or two houses skew the data wildly?

several of the most expensive roads in the country are in richmond. if, last month, no houses were put on the market in these roads, and this month a few properties are listed, then last month would be depressed and this month inflated.

i haven't got property bee here, but there is also a house on at £22.5 million - if that came on the market in feb, it's pretty easy to see how it could have skewed the local figures.

the LR figures for richmond are always pretty volatile (as they are for many individual london boroughs), especially for detached houses, due to relatively low sales and massive differences in the price of a certain sized house depending on where it is located. e.g. a 5 bedroom house on one side of the river might get £1.5 million, plonk the same 5 bedroom house on the other side of the river, a 10 minute walk away, and it might fetch £3 million.

quite often the LR prices for detached houses will be +20% one quarter, and -20% then next. if the rightmove figures are just an average of all property listings, rather than being 'mix adjusted' (whatever that means), then it's not surprising to see volatility like that.

chewmylegoff

So, rightmove huh.

-3.1% (Nov 11)
-2.7%
-0.8%
+4.1% (Feb 12)

so the biggest rise in living memory ever ever massive huge christ look at that, has returned prices to what they were at the start of december (or actually mid november, given rightmove's insistence on publishing mid-month).

suppose this is why they seasonally adjust other indices?

HAMISH_MCTAVISH

chewmylegoff wrote: »

suppose this is why they seasonally adjust other indices?

It sure is.

The year on year is up 1.4% though, so there's some upwards movement there even excluding seasonality.

CRASH_BANG_WALLOP

Question: What happens to an ubder bull when Rightmove shows dudes asking prices are negative?

Answer: He dimisses Rightmove of course man!

https://forums.moneysavingexpert.com/discussion/3734177

Sibley wrote: »

Sellers will take their houses off the market until prices are back to full whack.
Old news. Happened before. You can't take any notice of the figures right now.

and another dude mr ree ( its the same dude isnt that right Mr picklepants)

Originally Posted by MrRee
On the grand scheme of things Rightmove means nothing.

AndyGuil

Rinoa wrote: »

Prices usually fall at back end of the year when you don't seasonally adjust. Best to use YoY for accuracy.

Great news for landlords.

It was a snapshot of a very recent trend, demonstrated with the last 3 months of data. It shows asking prices increase with sale price falling, a direct comparison. It looks like asking prices are falling back now anyway. https://www.home.co.uk/guides/asking_prices_report.htm?location=london&startmonth=11&startyear=2011&endmonth=02&endyear=2012

moneyinmypocket

The HPC fanatics are crying into there cereal this morning

CRASH_BANG_WALLOP

moneyinmypocket wrote: »

The HPC fanatics are crying into there cereal this morning

is hpc finished this week? man i thought that happened last week?

Batchy

People there is inflation, whether you can afford it or not is another thing.

A house will never cost the same as a 100k loaf of bread.

Water could soon be the new Gold!!

chewmylegoff

HAMISH_MCTAVISH wrote: »

It sure is.

The year on year is up 1.4% though, so there's some upwards movement there even excluding seasonality.

yeah. the YoY is in the same range as the other indices, suggesting that not much is really happening.

MrRee_2

Staggering ..... even faced with overwhelming odds the bears are sticking their heads in the sand.

I have been saying since last summer that there is a boom going on in the South .. regardless of the various indicies .. I could see what was happening on the ground.

No crash, no possibility of a crash, not even a sniff ....... anyone sitting and hoping have missed the boat, missed the train and missed their chance - the jolly old House Price Train just keeps on rolling!!

What absolutely FANTASTIC news - REJOICE!!

We need a healthy Housing Market - so much is dependant upon home owners feeling richer as each week passes ..........................

Hang on to your hats - this is it - the boom is coming - 2012 ... the year the winners once more pulled way ahead of the losers!!