Rightmove Jun: +1.2% MoM +2.7% YoY

Percy1983

HAMISH_MCTAVISH wrote: »

What makes you think Land Reg is the only "real index"?

Its not perfect, but it has to most complete data set, would you agree its much more accurate than the RM index?

Conrad

HPI is a fantastic wealth journey for the masses. From downsizing at retirement, to releasing equity to fund a dream holiday cottage, it's a fantastic enabler of men.

Many an ordinary London worker, from nurses to buss drivers now live in plush houses in the burbs thanks to their own personal HPI journey. A great equaliser.

wotsthat

Percy1983 wrote: »

Well it being based on asking prices in part of the the problem, the other part being there is no tracking of prices falling.

IE, a house gets listed at £120k, (RM then record £120k), 2 months later its reduced to £110k (RM don't show this), them it sells at £105k (RM don't record this either).

So the only real index (land registry) records £105k and RM records £120k, which is showing what is really happening?

So it's not a completely flawed index - you just don't like the methodology and object to an asking price index measuring asking prices.

You can find these 'flaws' with any of the indexes - even the land registry.

Percy1983 wrote: »

An increase in the RM index showing nothing but the wishes of people when they first list there house, I could list my house at £1m tomorrow and get the RM a nice kick upwards, but its never going to sell.

I don't think we need to worry too much about people trying to sell £140k houses for £1m skewing the index.

ruggedtoast

Conrad wrote: »

HPI is a fantastic wealth journey for the masses. From downsizing at retirement, to releasing equity to fund a dream holiday cottage, it's a fantastic enabler of men.

Well it isnt a particularly good enabler of renting men I'm afraid. Or the man who actually bought his home to live in, not to flip like some flipping spiv, and wants to upsize later on.

36% of people are renting in the UK and they are not on any kind of escalator towards ownership, they are just being shafted with every price increase, and rectally burglarised by the landlord come rent day.

HAMISH_MCTAVISH

Percy1983 wrote: »

Its not perfect, but it has to most complete data set, would you agree its much more accurate than the RM index?

See edit to previous post.

Land Reg do have the most complete data for E&W, but they don't use it in the monthly report.

Acadametrics and the LR Quarterly are the most complete.

ONS is the most complete based on mortgage approvals, but lags.

Haliwide are the most current, but noisy.

RM is showing the same over the last 12 months as the ONS/Acadametrics and Halifax.

Seems pretty accurate to me at this point.

shortchanged_2

Conrad wrote: »

Many an ordinary London worker, from nurses to buss drivers now live in plush houses in the burbs thanks to their own personal HPI journey. A great equaliser.

Yes if they got on the ladder 15 odd years ago Conrad.

I would guess the average FTB nurse or bus driver can't really afford to buy a £250K one bedroom flat in London these days.

the_flying_pig

Conrad wrote: »

HPI is a fantastic wealth journey for the masses. From downsizing at retirement, to releasing equity to fund a dream holiday cottage, it's a fantastic enabler of men.

Many an ordinary London worker, from nurses to buss drivers now live in plush houses in the burbs thanks to their own personal HPI journey. A great equaliser.

what a silly, silly, daft, absurd, post.

you're right in that HPI has equlalised [say] London bus drivers born in the 50s with [say] London accountants born in the 80s, but:

(1) why is this a good or fair thing?;
(2) what about London bus drivers born in the 80s - what happens to them?;
(3) etc etc

Graham_Devon

I wonder how valid Hamish would claim this index was, should it have shown the same reduction?

Oh oh, I know, we already know ..... it would be irrelevant again!

Funny how this index has now turned favourable with certain posters again after all the poo poo'ing of the index over the past years when showing falling prices.

HAMISH_MCTAVISH

Graham_Devon wrote: »

I wonder how valid Hamish would claim this index was, should it have shown the same reduction?

Oh oh, I know, we already know ..... it would be irrelevant again!

Funny how this index has now turned favourable with certain posters again after all the poo poo'ing of the index over the past years when showing falling prices.

That's nonsense Graham.

This index is not seasonally adjusted, so monthly figures are not of much relevance, by comparison to the Year on Year.

When the monthly figures show a rise in spring and a fall in winter every year, then it will be pointed out by both sides, bull and bear, that is what is happening.

However seasonality does not affect the YoY.

So a rise (or fall) in annual figures is just that.

Graham_Devon

And a fall YOY ends up decrived as "irrelevant, it's not asking prices that count - the other indices show a much lower level of decline".