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Debate House Prices
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Nationwide +0.4 Mom +5.9% YoY
Comments
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Anybody know how the increase is calculated?
Novembers average house price was £162,764, Decembers average house price was £162,103. Looks like a decrease to me? :huh:
House prices traditionally rise in Spring/Summer and fall in Winter.
The major indices therefore use seasonal adjustment to smooth out these seasonal variations.
In other words, if prices would normally fall by 3% every winter, but they only fell by 1% this winter, this would show as a 2% rise in prices.
Likewise, if prices normally rise by 3% in summer, but they only rise 1% this summer, that would show as a 2% fall in prices.
The actual average price is also published and is not seasonally adjusted.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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