Independent property advisor, founder of Viewber and commentator

Rightmove respond to my AP vs Selling Price piece
Ed Mead // 5th May 2017

Rightmove respond to my AP vs Selling Price piece

 

Just a note on your PIE article. Created some interesting debates!

Just an observation from a methodology point of view. Many of the indecies [sic] not only measure prices at different timescales in the process as you are aware, but also have different methodology to add to the confusion! Prices are therefore apple and pear comparisons in some cases so prices cannot be cross-referenced. The trend in price rises/falls can be compared amongst all, but some are leading indicators, some lagging ones, and some small sample sizes. Rightmove has the biggest sample btw of over 100,000 new listings, but is a lead price indicator. We remove approx. 10,000 outliers every month to avoid distortions. We have lots of other stats around demand/supply/time to stc etc.

Rightmove, Acadametrics and DCLG have the same methodology (and very similar prices), whilst other indecies use one of two other methodologies. See below. The big ‘gap’ in prices is not to do with multi-listings or on-line agents over-pricing, or gap between asking and ‘sale agreed’ but purely down to mathematical calculation issues.

On price gaps, we match properties on Rightmove with Land Reg on individual properties where we have full address (but we do not publish this data) and the gap between final listed asking price and Land Reg varies between an average of 2% and 7% over the years…depending on the state of the market. Land Reg have quite a few issues on data accuracy according to agents I speak to and our analysis (as well as their methodology differences) so none of the indecies are the complete article…. But useful for trends and specifics in their speciality area.

 

Hope that is interesting….if you want to study the different mathematical small print, we have a man who can chat for hours on the subject!

Best regards

Miles

 

 

Is Renting still the 2nd class option

Is Renting still the 2nd class option

Is it time to embrace renting - or is your home still your piggy bank?

25th September 2020 read more
Signing on the electronic line

Signing on the electronic line

Are things finally moving to enable electronic signatures in the property game?

25th September 2020 read more
The rise of the 'Manny' Annex

The rise of the 'Manny' Annex

Ed's Spectator column on how granny annexes are changing into boomerang kids hideouts.

25th September 2020 read more

Got a question?

If you wish to have your question answered, please visit the 'contact me' page by clicking the button below.

contact me

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies. You can find out how we use cookies here.