Rightmove down -4.5% in three months

homelessskilledworker

http://www.rightmove.co.uk/news/files/2012/09/september-2012.pdf




New sellers drop average asking prices for the third consecutive month, down by 0.6% (-£1,402) on

the month and 4.6% (-£11,377) on the quarter

homelessskilledworker

homelessskilledworker wrote: »

http://www.rightmove.co.uk/news/files/2012/09/september-2012.pdf




New sellers drop average asking prices for the third consecutive month, down by 0.6% (-£1,402) on

the month and 4.6% (-£11,377) on the quarter

Starting to look like a downward trend(like I said before), still to early to be certain:)

chewmylegoff

homelessskilledworker wrote: »

Starting to look like a downward trend(like I said before), still to early to be certain:)

it may be too early to see whether it is a downward trend or not, but it is not too early to see what the trend is since 2009 (see the graph at the bottom of the first page). it appears:

1) up in the first half
2) down in the third quarter
3) temporary spike back up in about october
4) down again towards christmas, finish the year slightly above the start.
5) go back to 1)

the fall in the last quarter is consistent with the fall in approximately the same period over the previous three years. it looks like the same thing that happened in 2009, 2010 and 2011 is happening again.

obviously past performance cannot predict the future, blah blah blah, but i would personally be expecting the same again from here rather than a continuing downwards trend. we shall see...

ruggedtoast

NOOOOOOOOOOOOOOOOOOOOOOOOOOOooooooooooooooooooooooooooooooooooooooooooooooo!!!!!

:(:(:(:(:(

Mr._Pricklepants

homelessskilledworker wrote: »

Starting to look like a downward trend(like I said before), still to early to be certain:)

Okay Foxy, if you say so, it must be true, I suppose.

Average price of a property coming to market this September is virtually unchanged on a year
ago at £234,858 (+0.7%)
- Prices this month also unchanged on five years ago (Sep 2007) at £235,176 – down just 0.1%
- Average price ‘standstill’ in the last five years

Loughton_Monkey

homelessskilledworker wrote: »

Starting to look like a downward trend(like I said before), still to early to be certain:)

The graph strongly indicates otherwise. There is a 'high' 2007-ish, followed by the big drop. After that, it's a typical upward trend, with the usual 'noise'.

Any mathematition on this earth, taking the 2008 "low" as a start, and doing a regression anaylsis, would give you a 'positive trend' answer. Not massive, I agree. But positive all the same.

ruggedtoast

Personally I would never drop my price 1 penny if I thought it would favour the likes of Bruce Banner.

In fact, anyone with an hpc login, that they are still allowed to post from, gets an instant 10% surcharge in my book.

chewmylegoff

ruggedtoast wrote: »

Personally I would never drop my price 1 penny if I thought it would favour the likes of Bruce Banner.

In fact, anyone with an hpc login, that they are still allowed to post from, gets an instant 10% surcharge in my book.

They are angry about this over on HPC. They are indignant with rage, and they are writing to their MPs!

wotsthat

homelessskilledworker wrote: »

Starting to look like a downward trend(like I said before), still to early to be certain:)

Sure does - the same trend that Rightmove follows every summer.

2012 - Rightmove down 4.5% over summer

2011 - Rightmove down 3.0% over summer

2010 - Rightmove down 3.4% over summer

2009 - Rightmove down 1.6% over summer

2008 - Rightmove down 3.3% over summer

I'm struggling to get excited about this data myself. Oh, hang on, this summer's falls are MASSIVE compared to last summer - TIMBER!!!!

I wonder if anything in particular happened this summer that might help to explain this?:)

System

inb4 comments about council houses and estate agents.

DervProf

wotsthat wrote: »

I wonder if anything in particular happened this summer that might help to explain this?:)

Maybe the realisation that HPI is not coming back any time soon, and that if you want to sell you need to drop the price a little more ?