House prices SURGE in October - Express hails new BOOM

DervProf

Saw this headline earlier today.

The Express is telling us that house prices went up >£200 per day in the past month, or something similar. I was very suprised at this news. "Blimey, the economy and property market has suddenly improved, a lot". Then I read on a little further, and Rightmove was mentioned as being the source of the data.

I suppose The Express is hoping that people will just read the headline then rush to the nearest estate agent and put an offer on a house (before prices rise another 3%+ next month).

I think purchasing The Beano may have given a more accurate insight into news and current affairs.

chucknorris

Conrad wrote: »

Im my area in the shires outside London, rentals are rocketing. Is this the case elsewhere does anyone know?

My 2011 thread in discussion time predicts now to be the dawn of the new boom and I am very confident the pieces are falling into place.

I wouldn't know all of our investment properties are actually in London, which is doing well but not rocketing, where is this 'Shires' area?

chewmylegoff

HAMISH_MCTAVISH wrote: »

Rightmove oct. +3.5% mom +1.5% yoy.

Asking prices usually rise in October though, so not unexpected.

Yes quite. Before anyone gets too excited about this, try looking at the rightmove index graph for the last 4 years. Every single year the price falls away in August and September, spikes in October, and falls away again.

Last month we had HSW hailing the start of a crash because of the falls in Aug/Sept, now we have Turnbull hailing a new boom because of the rise in October. It's all very silly.

Thrugelmir

breadlinebetty wrote: »

Anyone with an IQ above 60 would know that house prices have continuously risen over the last 100 years.

Those that survived the blitz (over a million didn't). Would have been substantially rebuilt and modernised in that time frame. So best to keep some perspective on prices alone as its totally misleading.

RUN_RABBIT_RUN

DervProf wrote: »

Saw this headline earlier today.

The Express is telling us that house prices went up >£200 per day in the past month, or something similar. I was very suprised at this news. "Blimey, the economy and property market has suddenly improved, a lot". Then I read on a little further, and Rightmove was mentioned as being the source of the data.

yeah, i have a similar feeling when i read new thread posts on here shrilling about the huge crash coming round the corner, then i read on a little further and find that moneyweak is mentioned as being the source of the data :doh:

brit1234

RUN_RABBIT_RUN wrote: »

i read new thread posts on here shrilling about the huge crash coming round the corner, then i read on a little further and find that moneyweak is mentioned as being the source of the data :doh:

Yeah i know what you mean. I by far trust Estate agents and Sarah Grady with their vested property interests over econmists who's advice if reliable pays the bills.

We know that estate agents are right all the time like in the US since 2007 where each year they said the housing market would bottom out and they were experts in housing.

:rotfl:

mrginge

Wow. The Express and Mail reporting some relatively insignificant, short term house price info in a misleading way.

Tomorrow: 'House prices crash as homosexual immigrants invade UK'
I won't be reading.

Zero_Sum

The Express reporting house prices up? really? that does suprise me.

abaxas

In other news.

Lenders still want their money back. House price boom has sadly been postponed again.

mcc100

Zero_Sum wrote: »

The Express reporting house prices up? really? that does suprise me.

.................

mcc100 wrote: »