Rightmove Feb: +2.8% MoM +1.2% YoY

Harry_Boyle

Percy1983 wrote: »

In his defence I don't see him quoting the rightmove index.

I know, hence my appreciation of his point about rightmove. He does however quote the other indexes, but it seems counterproductive to any logical discussion if he continues to refuse to acknowledge that indexes go up as well as down.

He may well be leaving it to wind up his regular adversaries (and it works), but he should realise that he also undermines his own posts with everyone else who comes in here. How can you take someone's point of view seriously if they (seemingly) voluntarily blinker themselves?

Not updating his signature undermines his credibility with more moderate posters like myself - people who have no real VI with house prices and can see both sides of the debate.

He should either update it or get rid of it if it doesn't meet his requirements any more.

Just my own opinion of course.

shortchanged_2

Harry_Boyle wrote: »

Not updating his signature undermines his credibility with more moderate posters like myself - people who have no real VI with house prices and can see both sides of the debate.

He should either update it or get rid of it if it doesn't meet his requirements any more.

Just my own opinion of course.

:rotfl: I have to say this really made me laugh renoman. You a moderate poster!

Priceless.

crash123

Rightmove could also track the movement of reductions.
House opposite me has been reduced by £6000 after 2 months of being on the market. It won`t sell it is still overpriced.

I prefer the website

Home . co . uk : Property Search, Homes For Sale, Estate Agents, Sell ...

as this tells you how long a property has been on the market and if it has been reduced and by how much

HAMISH_MCTAVISH

N1AK wrote: »

I'm not generally a fan of the right move index; to be honest the land registry one is the only one I would base a position on. .

Land Registry announced today.

January: +1%

chewmylegoff

Percy1983 wrote: »

How many times do we need to say this, the rightmove index means nothing.

The methodology is a little loose and its based on asking prices which do not equate to selling prices.

Seriously can we all just agree there is little meaning in this index and just leave it alone?

The RM index is not "meaningless" - it is what it is - a non-seasonally adjusted average of all new listings for the month. As it is prepared with the same methodology every month it does give some useful information about sentiment from the point of view of sellers/agents.

However, you have to understand that it isn't seasonally adjusted when you are interpreting it for it to mean anything- which is why someone could look at it and think that +2.8 in feb 2013 indicates strong growth when in fact it has been +4% or higher in feb every year since 2008 with the exception of 2009, so actually +2.8% suggests weak growth (which is why the YOY has fallen back to just 1% - I.e. prices rising slower than wage increases suggests real term falls).

Of course as it's just one month it could be an anomaly and it's better to wait until the figures for the whole of q1 are available.

dryhat

Conrad wrote: »

Yes.

+ People buy into an inflating asset journey. It slowly engenders self confidence as financial security edges closer, year by year.



+ Thier inflating asset also spring boards them up the ladder later on. My generation in the South East now typically sit on several hundred thousand pounds worth of equity. People bang on about other assets being better at providing capital but it just isn't on the average persons radar. Property equity is. It acts like a central anchor in your life, a safety valve.


+ I for example now have the confidence to have recently carried out various home improvments. Growing equity helps one feel more right headed in terms of this expenditure.

How does all that work?

Are you and your "generation" really this stupid?


I don't understand how any of your above post is good news.

Percy1983

chewmylegoff wrote: »

The RM index is not "meaningless" - it is what it is - a non-seasonally adjusted average of all new listings for the month. As it is prepared with the same methodology every month it does give some useful information about sentiment from the point of view of sellers/agents.

However, you have to understand that it isn't seasonally adjusted when you are interpreting it for it to mean anything- which is why someone could look at it and think that +2.8 in feb 2013 indicates strong growth when in fact it has been +4% or higher in feb every year since 2008 with the exception of 2009, so actually +2.8% suggests weak growth (which is why the YOY has fallen back to just 1% - I.e. prices rising slower than wage increases suggests real term falls).

Of course as it's just one month it could be an anomaly and it's better to wait until the figures for the whole of q1 are available.

The problem is the methods used maybe be consistent but they don't really give a picture of what is really happening.

The problem being that many sellers now list too high just to reduce it a month later to make it look more of a bargain, I spotted this a lot when I was looking for a house and using property bee.

chewmylegoff

Well assuming that the number of sellers who try that trick remains constant then it is still a useful barometer. It won't do anymore than tell you what the average new listing price is though, because that is all it measures. There are other indices which measure selling price so people can look at them if they want to know what the selling price is.

moneyinmypocket

House prices for the win

Let then sail onwards and up wards. I salute the house price and march to its beat. Hpc chain gang members weep into thier cornflakes for the great homeowner will not sell his castle for a reduced rate. 3 cheers, send for the marching band!

DervProf

moneyinmypocket wrote: »

send for the marching band!

And a doctor who can prescribe your medication.