Rightmove Jun: +1.2% MoM +2.7% YoY

Percy1983

I am happy to say I class the RM index as irrelevant which ever way it points, at most it show senitment in the market, litttle more.

Has the RM index ever shown a decline? I am certain house prices did.

HAMISH_MCTAVISH

Graham_Devon wrote: »

And a fall YOY ends up decrived as "irrelevant, it's no asking prices that count - the other indeces show a much lower level of decline".

At the moment Graham we have good agreement between all the indices that prices are rising year on year.

If that changes, you can feel free to debate the merits of any one index over another, as they will all be showing you different things, because they all measure different things.

HAMISH_MCTAVISH

Percy1983 wrote: »

Has the RM index ever shown a decline? I am certain house prices did.

Yes, of course it has.

Here's a comparison to Land Registry during the crash.



It doesn't perfectly match LR or any other index, as you'd expect, because they all measure different things.

But they do move in a similar way.

wotsthat

Percy1983 wrote: »

Has the RM index ever shown a decline? I am certain house prices did.

It goes up and down pretty much in tandem with sold house prices.

Percy1983

HAMISH_MCTAVISH wrote: »

Yes, of course it has.

Here's a comparison to Land Registry during the crash.



It doesn't perfectly match LR or any other index, as you'd expect, because they all measure different things.

But they do move in a similar way.

Do you ever acknowledge the stats about percentage of asking prices achieved as that does partially show it.

Would you agree the RM index would have much more meaning if it tracked asking prices, lets be honest they only ever go down. (Yes I am sure you can find an example where the asking prices has gone up and then sold)

Do you have that graph based on actual prices rather than percentage changes?

HAMISH_MCTAVISH

Percy1983 wrote: »

Do you ever acknowledge the stats about percentage of asking prices achieved

Yes indeed, young Percival.

Hometrack have a series on % of the asking price being achieved.

For March 93.5%
For April 93.7%
For May 93.9%

Of course you can also just compare an index that uses an arithmetic mean average of actual sold prices with Rightmove, which uses an arithmetic mean average of asking prices.

Rightmove is currently 250K, and ONS/Acadametrics are in the mid 230K's. So about a 7% discount to initial asking prices on average.

danothy

HAMISH_MCTAVISH wrote: »

Yes indeed, young Percival.

Hometrack have a series on % of the asking price being achieved.

For March 93.5%
For April 93.7%
For May 93.9%

Of course you can also just compare an index that uses an arithmetic mean average of actual sold prices with Rightmove, which uses an arithmetic mean average of asking prices.

Rightmove is currently 250K, and ONS/Acadametrics are in the mid 230K's. So about a 7% discount to initial asking prices on average.

Is there anything ready made you know of that tracks how the discount has changed with time?

Conrad

shortchanged wrote: »

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.

Not this again! There are thousands of 1 bed flats right across London for close to £100k. I just bought a lovely large studio in a leafy North London burb for £90k (Dec). Maybe it will be worth £250k in 15 years? You don't have to buy in Islington or Richmond.

Bus drivers can still join the equitable life journey.

Conrad

the_flying_pig wrote: »

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

Very naïve dear boy.

Only the other month had a fairly new immigrant in (here 7 years), and already onto his second property.

Sure the journey is tough to begin with but none the less huge numbers take the plunge and enjoy the fruits as did their predecessors.

30 years from now someone will be posting about the new boomers and how it can never be repeated by the next generation.:rotfl:

HAMISH_MCTAVISH

danothy wrote: »

Is there anything ready made you know of that tracks how the discount has changed with time?

Yes, here....

http://www.hometrack.co.uk/our-insight/interactive-analysis/percentage-asking-price-achieved-over-time-by-region

....and will even let you track changes by region over time.