My house up 8.8% in the last quarter!!

Cleaver

bo_drinker wrote: »

But people are still obsessed with the "investment" value and not live there as a home. It's still happening after all that has gone on recently. These are the people you avoid at gatherings especially when the property subject comes up. I would rather be stabbed in the eyes with rusty needles than spend a second talking to these boring b4stards.

Do you not think that's slightly hypocritcal considering you're a regular poster on an internet forum about house prices?

hethmar

Damn, my area DOWN 11.8% last quarter but only 13.7% last year. Shows I was right saying nowt was happening round here when everyone was reporting big drops. Seems to have caught up with the rest of the country in the last 3 months then

bo_drinker

Cleaver wrote: »

Do you not think that's slightly hypocritcal considering you're a regular poster on an internet forum about house prices?

No not really. My point being that there is still an obsession with the "value".

fc123

theblindman wrote: »

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/39ud.stm

Ok come on then shoot me down in flames, I ready and waiting, the first to use the phrases ' dead cat bounce' 'one swallow doesnt make a summer' wins a prize

I must have a carp house...Down -7.9% in the last quarter.

hethmar

Meanwhile as pointed out on another thread this weekend seems to have had a lot of SSTC and Offers on houses - check out right move for your area - tick the SSTC box - amazing

Cannon_Fodder

I was intrigued by the discrepancies between the BBC websites house price tool and the Land Registry route...so I emailed the BBC with some comments, including specifics about Oswestry and Hartlepool, and here's the response they gave (very quickly, full marks BBC);

" Many thanks for writing in. I understand that you find house price statistics confusing. You are indeed right to suggest that the Land Registry's monthly house price index suggests lower averages than our pages do - even though the data we use is also provided by the Land Registry. Neither is wrong, and this is why:

The Land Registry's House Price Index uses a formula to work out weighted averages; I believe their website sets out their methodology in detail.

Our index looks at simple averages - that is the sum of money paid for houses divided by the number of homes sold. Moreover, we look at quarterly figures, ie January to March, April to June, July to September and October to December, whereas the Land Registry's House Price Index looks at monthly figures.

In short, monthly weighted averages are not comparable with quarterly simple averages.

In short, monthly weighted averages are not comparable with quarterly simple averages.

The BBC's view is that a three-month figure makes for a much more robust indicator of house price developments than monthly figures, which provide a series of snapshots that can sometimes create a more volatile picture of the situation, with ups and downs being reported more frequently. The advantage of using the monthly figures is that you do not have to wait that long between each set of data.

With regards to the specifics in your letter, Hartlepool recorded an average price of £130,039 during the October to December quarter in 2008, up from an average of £118,486 during the previous quarter and also well above the £125,864 average recorded during the October to December quarter in 2007.

The situation in Oswestry was more nuanced, as the average price there stood at £191,904 during Q408, up from £176,369 during Q308 though down from £203,682 during Q407.

I hope this helps.

Yours sincerely,

**** ******
BBC News "



Don't quite know if this helps or not...!

scousethife

theblindman wrote: »

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/39ud.stm

Ok come on then shoot me down in flames, I ready and waiting, the first to use the phrases ' dead cat bounce' 'one swallow doesnt make a summer' wins a prize

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
ok ill take the challenge

I'll give you a month to sell it at that price and I'll give you 40 k in cash

I have that in the bank and can prove it

So

Deal or no deal?

incher

Tsk, the figures on that website for Scotland are for Jul-Sep 08. How useless!

beingjdc

Cannon_Fodder wrote: »

Our index looks at simple averages - that is the sum of money paid for houses divided by the number of homes sold.

So they admit it's nonsense, then. If someone sells a castle, house prices rocket. If a BTL investor unloads a block of poky studio flats, house prices collapse.

Jolly good, as you were.

GDB2222

The BBC figures are simply wrong, for the reason beingjdc says. Besides that, the figures are simply not credible. Looking at London and comparing two rather similar outer london boroughs, it says that Ealing has dropped 11%, whilst Barnet has dropped 4%. Bromley apparently dropped 16%, all of which happened in the last quarter - yikes!

The BBC ought to take this website down, as it's thoroughly misleading.