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Debate House Prices
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NATIONWIDE - Actually, Prices went up
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Good to see the Telegraph on the case:
Nationwide House Price Index: Actually, prices went up
Comment: The "real" Nationwide House Price Index shows that prices rose by 0.6pc in April, after a rise of 2.2pc in March, and a fall of only 0.8pc in the first four months of 2009.
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5255710/Nationwide-House-Price-Index-Actually-prices-went-up.html
My eyesight is fine thanks , no need for big and bold letters0 -
Thrugelmir wrote: »
It doesn't include new builds because it matches like for like purchases and sales i.e. new builds don't have anything previous to compare with, it does however include cash purchases which is 25% of the market. I don't see why it wouldn't include repos
A relevant article
http://property.timesonline.co.uk/tol/life_and_style/property/article4121227.eceThe Land Registry
This is the gold standard of house price indices. Unlike Nationwide and Halifax, it includes all lenders, cash sales (25 per cent of the market) and auction sales as well as repossessions. The index, published monthly, was relaunched in 2005 using a more accurate methodology that compares like with like sales rather than relying on rough averages. However, the downside is that by measuring only repeat sales, the system naturally excludes new builds, which make up 10 per cent of sales. The other weakness is the substantial time lag between the time house prices are set and the publication of the figures. Most property transactions are assimilated into the data a couple of months after they happen. Given that the price of a property is usually agreed at the start of the sales process that often takes three months to complete, Land Registry figures are potentially five months out of date when they appear.
According to the link, Land registry includes repos! I always thought they were excluded, as well as action sales. That was the idea I got from these forums...Spring into Spring 2015 - 0.7/12lb0 -
Thrugelmir wrote: »MissMoneypenny wrote: »Remember also that Land Registry do not take into account the selling prices from distressed sellers (repossessions, auctions).
[/QUOTE]
Why not?
It apears they don't include repos according to this. I think they are around 5% of the market.
http://www.economicsuk.com/discussion/viewtopic.php?t=300'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Thrugelmir wrote: »
It apears they don't include repos according to this. I think they are around 5% of the market.
http://www.economicsuk.com/discussion/viewtopic.php?t=300
So the underlying trend is worse than published.0 -
It's not a view, it's a FACT:
According to Nationwide the average house price in march was £150,945, and in April it has gone up to £151,895.
But what's also is a fact is that house prices are seasonal and will rise, and fall, by predictable amounts depending on the month.
Nobody is disputing that raw house prices went up. It's the interpretation of it that needs clarifying. To the unsuspecting eye, Ray Boulger's presentation of the figures are misleading and likely to encourage people to come to the wrong conclusions based on the house price data.0 -
Thrugelmir wrote: »'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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Thrugelmir wrote: »
I don't think the 5% of market repos will make much difference but the new builds will and chances are most
of the repos are new builds anyway.
Its not just repos that are sold through auction.0 -
Thrugelmir wrote: »'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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dorsetjohn wrote: »My eyesight is fine thanks , no need for big and bold letters
Practice what you preach dorset
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