Rightmove asking prices UP +1.2%

boinging_2

Generali wrote: »

Unfortunately, Rightmove are pretty unforthcoming about the methodology they use so I can't say whether or not the index is mix adjusted which would overcome that problem. My suspicion is that it would be as a simple average would be so clearly flawed. That's not the same thing as saying it is mix adjusted of course!

Do rightmove report an average of all properties on their database or just the new ones coming on to it during the month?

meanmachine_2

boinging wrote: »

Do rightmove report an average of all properties on their database or just the new ones coming on to it during the month?

Only new listings, so the monthly index doesn't take into account the thousands of older properties that have dropped in price, as recorded by property bee.

In fact, in some of the postcodes I'm tracking there are pages of properties where every single property has dropped in price since the original listing.

On the flipside, this methodology won't record any price adjustments upwards. At least, it shouldn't....

Also, Rightmove isn't seasonally adjusted.

Hark at me, I'm starting to sound like Edinvestor, rubbishing an index when it throws up a number I don't like...

Generali

meanmachine wrote: »

Only new listings, so the monthly index doesn't take into account the thousands of older properties that have dropped in price, as recorded by property bee.

In fact, in some of the postcodes I'm tracking there are pages of properties where every single property has dropped in price since the original listing.

On the flipside, this methodology won't record any price adjustments upwards. At least, it shouldn't....

Also, Rightmove isn't seasonally adjusted.

Hark at me, I'm starting to sound like Edinvestor, rubbishing an index when it throws up a number I don't like...

It seems incredibly picky and nerdish to state that understanding how a statistic is being measured is as important as what is being measured but it is important.

mr.broderick

Generali wrote: »

It seems incredibly picky and nerdish to state that understanding how a statistic is being measured is as important as what is being measured but it is important.

heavens generali i read that 5 times and still can't make head nor tail of it, early night needed.

SouthCoast

RightMove Interim Management Statement 6/05/08

Outlook

The outlook for the UK property market is very poor with recent announcements on mortgage approvals and from new home developers showing the scale of the slowdown.

http://miranda.hemscott.com/ir/rmv/ir.jsp?page=news-item&item=63451699855388

Generali

mr.broderick wrote: »

heavens generali i read that 5 times and still can't make head nor tail of it, early night needed.

I had a couple of glasses with dinner which probably hasn't helped.

What I mean to say is how you measure a statistic is as important as what you measure.

Jonbvn

Generali wrote: »

I had a couple of glasses with dinner which probably hasn't helped.

What I mean to say is how you measure a statistic is as important as what you measure.

As in lies, damn lies and statistics!

:money:

IveSeenTheLight

epz wrote: »

correct me if im wrong but arnt asking prices pointless, its the only thing that matters is the price people pay.

asking prices could be up as EA's are over valuing so buyers think they get a better discount or more likely owners at the bottom of the ladder are hanging off selling as they think the prices higher up will fall so why move now.

True, which is why all the posts for propertybee are useless unles you use the figures for that specific property

IveSeenTheLight

m00m00 wrote: »

we have a winner in the race to 10% deposit paid

Price changed: from '£104,950' to '£114,950'

Brief Description changed: 10% DEPOSIT & LEGAL FEES PAID BY VENDOR.

http://www.rightmove.co.uk/viewdetails-20124812.rsp?pa_n=19&tr_t=buy

If a returned valuation concurs with the new price, what is wrong with this marketing ploy of ensuring that more potential buyers can meet the mortgage requirements?

Generali

Jonbvn wrote: »

As in lies, damn lies and statistics!

:money:

Haha, yes. But also to see why a particular survey is giving a particular result you need to know how it gets there. For example, the Halifax numbers are likely to under-represent places bought by older people (retirement homes for example) as they are more likely to be bought without a mortgage.