December Rightmove Figures - London 6.8%, Nationally 3.2%

dolce_vita

ds1980 wrote: »

I still wonder where they get these figures from. We bought our house about 1 year ago. According to the house prices in the area it has gone up 10% or so.

If we sell at £340k then thats 40% increase in a year. £300k thats 25%.

.

In reply to the statements in bold :

So you follow the house price index when prices are rising but don't accept them when they are falling.

If you sell at 340k you will make 40% profit.
But HPI cheerleaders like yourself never know when to sell. Because you are too greedy and/or stupid to realise when the tide turns.

Rover

Denial, anger, acceptance.
Some are ahead of the game, some don't even realise the game kicked off about six months ago.
As I keep mentioning look at the 12 monthly share performance of any major builder.

ds1980

dolce_vita wrote: »

In reply to the statements in bold :

So you follow the house price index when prices are rising but don't accept them when they are falling.

If you sell at 340k you will make 40% profit.
But HPI cheerleaders like yourself never know when to sell. Because you are too greedy and/or stupid to realise when the tide turns.

eeeeeer no.....that was exactly the point!

Why should i sell? If i can get some muppet to buy it at an inflated price (which i have been doing for quite a number of years now) then i will, if not then ill keep it.

Another missed the boater??

ds1980

also we bought for £240k if we sell for £340k we'll make about 500% real terms because it only cost me £12k at the start. I spent £10k on it. if it sells for £300k we're still quids in!

House price falls are only relevant when you sell and ill have to sell at below £238k to do that. Think im quite good at being stupid.

I ain't greedy i ve got enough money. THese are for my kids and my retirement which is about 15 years away they won't need the money or the houses until at least annother 20 years so it makes no difference what happens now.

jonewer

ds1980 wrote: »

also we bought for £240k if we sell for £340k we'll make about 500% real terms because it only cost me £12k at the start. I spent £10k on it. if it sells for £300k we're still quids in!

House price falls are only relevant when you sell and ill have to sell at below £238k to do that. Think im quite good at being stupid.

:rolleyes:

CYBERCIDERSAVER

!!!!!!? wrote: »

You also have to remember that Rightmove have a vested interest in pimping the property market so if they are reporting falls, then you can be sure that things are probably even worse in reality.

I think they have another reason for reporting these figures.

Quite simply it grabs headlines and gives rightmove loads of free publicity.
People are discussing this survey and giving it the same validity as surveys from mortgage companies and government stats.

Not bad for a website!!

asandwhen

jonewer wrote: »

Maybe you should go away and look at the trend in that case! :rolleyes:

July .3
August .6
Sept. -2.6
Oct 2.7
Nov -.7
Dec -3.2

Considering the news we have been getting since June - I think that these figures prove that we are not going to get the crash everyone is hoping for - I think yes we will see some falls in real terms over the next couple of years but not a crash - I think house prices will be worth the same in 5 years time which is a good thing.

wolvoman

!!!!!!? wrote: »

You also have to remember that Rightmove have a vested interest in pimping the property market so if they are reporting falls, then you can be sure that things are probably even worse in reality.

Not necessarily. Rightmove (and EAs and mortgage lenders) are keen for interest rate reductions. They may actually have a vested interest in making the falls 'appear' worse to get those rate cuts sooner.