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Nationwide House Price calculator question
JayZed
Posts: 731 Forumite
I know that the Nationwide HPI calculator (http://www.nationwide.co.uk/hpi/) isn't a terribly accurate measure of house price movements, but for the purposes of this thread let's just ignore that.
I bought my flat in 2007. It was on the market in late 2006, and I put an offer in (which was accepted) in December 2006. I then had a valuation done a couple of weeks later in January 2007. For various reasons the purchase took ages, and we didn't complete until the end of May 2007.
So here's my question. If I'm using the Nationwide calculator, I have to put in the date of first valuation. Do I use Q4 2006, Q1 2007 or Q2 2007? It obviously makes a big difference to the calculation of current value! I know what I think, but would be interested in the views of others.
I bought my flat in 2007. It was on the market in late 2006, and I put an offer in (which was accepted) in December 2006. I then had a valuation done a couple of weeks later in January 2007. For various reasons the purchase took ages, and we didn't complete until the end of May 2007.
So here's my question. If I'm using the Nationwide calculator, I have to put in the date of first valuation. Do I use Q4 2006, Q1 2007 or Q2 2007? It obviously makes a big difference to the calculation of current value! I know what I think, but would be interested in the views of others.
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The data it bases its predictions on is the land registry data. So to be comparable you should put in the date of your completion. I would go with Q2 2007. You could look a Q1 2007, but TBH lots of sales are delayed for one reason or another.
The variance of the results are much greater when you have a shorter time span; so I wouldn't hold much weight by the results.
Try zoopla for another comparison site; its actually based on post codes and you may find your house number.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I don't think it is based on land registry data. According to the methodology section (http://www.nationwide.co.uk/hpi/method_qs.htm): "House price information is derived from Nationwide lending data for properties at the post survey approval stage" (which in my case would be Q1 2007).
I don't hold much weight by the results, I'm just interested in how the different indices measure up. I'll have a look at zoopla.0 -
Actually, Zoopla gives a result that's fairly similar to Nationwide (measuring from Q107) - a couple of grand lower, but definitely in the same ballpark.0
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I used the Nationwide HPI for my property and it shows that I have benefitted from an increase of 17% !!!!
Zoopla shows similar!!!Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
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i found both zoopla and nationwide calculator to be equally cRaP atleast for the houses i was looking at. valuations to sold prices difference would be greater than 50k or even morebubblesmoney :hello:0
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