Blanchflower: House price rises reflect unreliable property data

Really2

Sir_Humphrey wrote: »

The Treasury is the government (it is the Finance Ministry). IRs are currently set by the Bank of England, which is a nationalised non-governmental institution.

But with a few voting on a decision than one dictating.

I think an independent BOE is a good thing. I don't think the voting comity are all labour are they?;)

IveSeenTheLight

tommy75 wrote: »

Prices still falling throughout the North West & Cheshire according to property bee in the 100k to 200k area. I'm really not sure where prices are infact rising? Maybe its the million pound homes pushing up prices?

Strange, according to the LR (much better than PB I would think) the North west is rising

doire_2

But the markets are thinly-traded, and that’s pushed up prices, so I don’t believe the data and I think prices will fall a lot.’

:j:j:j..................

Sir_Humphrey

Really2 wrote: »

But with a few voting on a decision than one dictating.

I think an independent BOE is a good thing. I don't think the voting comity are all labour are they?;)

I was just speculating. I think there are arguments both ways and I have not come to a conclusive opinion on that one.

Bootski

bernard_shaw wrote: »

http://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=377455&Page=1

I think you're right. Prices vary from Nationwide to Halifax, from online sites such as zoopla to mouseprice, from the Daily Mail to the Guardian to the Times, one estate agent quotes a valuation - another quotes a difference of £40K

!!!!!!????:rolleyes:

HAMISH_MCTAVISH

The funny thing is, I rather suspect our very own Bernard Shaw doesn't really believe the indices are wrong either.......

As per the following exchange......

Originally Posted by HAMISH_MCTAVISH
My key assumption is that last year, on lower volumes, with less lending available for FTB's, nobody was querying the numbers when the prices were falling. Yet now that volumes are rising, people want to question the stats? :rolleyes:

Sorry, but if they were accurate on lower transaction levels than today when prices were falling, then why are they innacurate on increased volumes when prices are rising?

I have yet to see any of you answer this.

bernard_shaw wrote: »

I haven't made any comment whatsoever on last year's figures, nor, indeed on these. What do you want me to say?

Hmmmm....... Someone needs to clarify. Either you believe the stats are skewed by low volume, or not. And if they are skewed now that prices are rising, why were they not skewed when prices were falling, and volume was even lower?

Unless of course, what you are really trying to do is more along the lines of this......;)

However, those of us who wish to see a return to affordability in family housing should embrace the power of myths. I believe that this type of report, along with others current in the press this weekend, may mark a tipping-point in public sentiment (whether true or not).

http://www.housepricecrash.co.uk/forum/index.php?showtopic=134451

Bootski

HAMISH_MCTAVISH wrote: »

The funny thing is, I rather suspect our very own Bernard Shaw doesn't really believe the indices are wrong either.......

As per the following exchange......

[/B]




Hmmmm....... Someone needs to clarify. Either you believe the stats are skewed by low volume, or not. And if they are skewed now that prices are rising, why were they not skewed when prices were falling, and volume was even lower?

Unless of course, what you are really trying to do is more along the lines of this......;)


http://www.housepricecrash.co.uk/forum/index.php?showtopic=134451

No they were definately screwed when prices were falling and are most certainly scewed now they're on the up.

Just need to see how many people " don't wanna talk anymore" on forums etc cause they didn't expect things weren't as bad as they, nor the experts predicted.

ie NOTHING to moan about. Just made themselves a cup of tea and are currently regrouping.

trenchwars

Blanchflower's answer to everything is to cut interest rates. When he was on the MPC he continually voted for rate cuts.

An asset bubble might get in the way of that aim, so it is not surprising he is talking down the recent rises.

Bootski

trenchwars wrote: »

Blanchflower's answer to everything is to cut interest rates. When he was on the MPC he continually voted for rate cuts.

An asset bubble might get in the way of that aim, so it is not surprising he is talking down the recent rises.

Talks them down much further hell be scraping his chin on the floor:D

tommy75

IveSeenTheLight wrote: »

Strange, according to the LR (much better than PB I would think) the North west is rising

Nothing rising in the 100k to 200k area throughout the areas im watching, this includes areas around Chester, Northwich, Macclesfield and Altrincham apart from the odd seller putting their house up a couple of grand on a house that isn't selling anyway. There is an increased number of 'sstc' in all areas though. I have also looked at other areas throughout Lancashire such as Preston and Bolton and this is the same. You welcome to check yourself.. This is why I asked if it was the 'million' pound homes pushing prices up.