London Has Peaked

MobileSaver

Bubble_and_Squeak wrote: »

hahaha ONS
nice try hamish

Oh dear, you really have lost the plot.

"The Office for National Statistics (ONS) is the UK’s largest independent producer of official statistics and is the recognised national statistical institute for the UK."

Bubble_and_Squeak wrote: »

haha good one!
how is nationwide doing?

The Nationwide House Price Index Q3 2014

All UK regions saw annual price rises in Q3 2014

London remains strongest performing region, with prices up 21% year on year

So there we have it, time to move the goalposts again Bubbles?

HAMISH_MCTAVISH

Bubble_and_Squeak wrote: »

now look up the chart for asking prices

Seeing as you asked....;)

London home sellers raised asking prices by the most in more than a year this month as a seasonal surge in demand led a rebound in the capital’s property market.

Values in the city increased 7 percent from September to a record average £596,692, the biggest jump since October 2013, property website Rightmove Plc said today.

http://www.bloomberg.com/

:beer:

danothy

HAMISH_MCTAVISH wrote: »

Seeing as you asked....;)

London home sellers raised asking prices by the most in more than a year this month as a seasonal surge in demand led a rebound in the capital’s property market.

Values in the city increased 7 percent from September to a record average £596,692, the biggest jump since October 2013, property website Rightmove Plc said today.

http://www.bloomberg.com/

:beer:

Would that be the fabled fourth quarter "post autumn bounce" that supposedly didn't happen?*

*Assuming that the fourth quarter has actually happened and autumn has actually ended.

wotsthat

Bubble_and_Squeak wrote: »

peaked last month?
at least you've got a new peak with rightmove by 0.1% to keep you happy

It's completely mental to use asking prices over the long term to monitor house prices. Why? Because after a short period of time they are superseded by sold prices.

If you insist though here's what the Gospel according to Rightmove says about Haringey..

Oct 13 - £599k
Apr 14 - £640k
Oct 14 - £660k

Obviously a different Haringey to the one you live in where an extra bedroom can be purchased for the April 'peak' price.

Maybe it's time to give up on forecasting house prices? You have a save and hope strategy and nothing more.

padington

I guess that means that the poster ' 8 year itch' on HPC forum that is using my quote early December 2013 on his avatar stating that the bears advice is not to be trusted and that property prices will be going up, is now looking a bit of a schmuck.

:rotfl:

Second post down ...

http://www.housepricecrash.co.uk/forum/index.php?/topic/201346-gazundering-given-price-drops-in-london/

Notice also that you can't easily search users old posts anymore, probably because too many historical crimes of consistently poor advice would be too easy to mine.

It would be funnier if it didn't involve an entire readership of people down something like a hundred million collectively.

... I wince even thinking about it.

Rule one: Never be too proud and be prepared to be wrong and change your behaviour quickly and accordingly when the facts change.

Jason74

padington wrote: »

Rule one: Never be too proud and be prepared to be wrong and change your behaviour quickly and accordingly when the facts change.

Irrespective of anyone's views on this topic (or any other for that matter), the above "rule" is imho the most useful suggestion on this forum in a long time. There are lot of people here and elsewhere who would benefit from following that.

Bubble_and_Squeak

don't start celebrating like you finished probation just yet.
may remains the peak for asking prices in real terms and in yoy terms.
supply of houses has nearly doubled from 1,117 in may to 2,021 this weekend while demand has fallen away in the postcodes i'm watching.
the percentage of price cuts in these has increased from 10.03% in may to 28.15% this weekend while the percentage of asking price achieved has declined and time to sell has increased.
such a steep monthly increase in asking prices means only one thing: fewer sales.

System

House prices up 200% since April 2014 [/B&SMethodology]

http://www.rightmove.co.uk/property-for-sale/property-32627121.html

pwllbwdr

Bubble_and_Squeak wrote: »

may remains the peak for asking prices in real terms and in yoy terms.

What does that mean? "real terms" in what sense, and what is a "yoy terms" peak?

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

don't start celebrating like you finished probation just yet.
may remains the peak for asking prices in real terms and in yoy terms.
supply of houses has nearly doubled from 1,117 in may to 2,021 this weekend while demand has fallen away in the postcodes i'm watching.
the percentage of price cuts in these has increased from 10.03% in may to 28.15% this weekend while the percentage of asking price achieved has declined and time to sell has increased.
such a steep monthly increase in asking prices means only one thing: fewer sales.

Your posts are getting more desperate by the day....:rotfl: