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Commentary: Latest Rightmove figures hide underlying property sales log jam

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COMMENTARY
GUIDE

We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.

Please don’t be fooled by claims that homes are ‘selling’ at their fastest ever rate. This couldn’t be further from the truth.

Rightmove House Price Index - April 2021

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Please don’t be fooled by claims that homes are ‘selling’ at their fastest ever rate. This couldn’t be further from the truth.

While sellers are securing a buyer at an incredibly quick pace, the time it’s taking to actually complete is significantly longer than it has been previously.

As a result, sales that should be done and dusted are stagnating for months on end, and many are falling through as a result.

You have to question if a platform with the visibility of Rightmove should be fuelling the current market hysteria and the resulting logjam by spurting fluffy statements around record-breaking market sentiment, at a time when the underlying system is struggling to cope - and sales are ultimately much slower as a result.

"

Please don’t be fooled by claims that homes are ‘selling’ at their fastest ever rate. This couldn’t be further from the truth.

While sellers are securing a buyer at an incredibly quick pace, the time it’s taking to actually complete is significantly longer than it has been previously.

As a result, sales that should be done and dusted are stagnating for months on end, and many are falling through as a result.

You have to question if a platform with the visibility of Rightmove should be fuelling the current market hysteria and the resulting logjam by spurting fluffy statements around record-breaking market sentiment, at a time when the underlying system is struggling to cope - and sales are ultimately much slower as a result.

See data & sources

Latest Rightmove house price index: Rightmove House Price Index

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