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"PANIC BUYING AS HOUSE PRICES RISE" 🤦🏻♂️🤦🏻♂️🤦🏻♂️
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This is why the Rightmove House Price Index is extremely unhelpful. https://mhwc.co.uk
NOTICE: A HIGHER "AVERAGE" PRICE DOESN'T NECESSARILY MEAN HIGHER PRICES.
If more large, detached, higher-value homes are being listed than usual, this too will make the "average" figure higher, EVEN if underlying individual prices are lower.
Almost everyone is automatically interpreting today's RM figures as "House prices rising", when it is almost certainly just more large properties coming to market.
In fact, the rise in transaction volumes being reported, even with more properties coming to market, would suggest that ACTUAL prices are moving LOWER.
The undisputed large fall in first time buyer mortgage approvals AND mover mortgages proves that demand is LOWER.
Do you really actually believe that prices are going up?
Watch the video here: https://youtube.com/live/R6dAQ0Nj9tQ
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