House prices drop in Scotland in real terms

googler

IveSeenTheLight wrote: »

zoopla :rotfl::rotfl::rotfl::rotfl:

What's the problem? They get the actual sale prices from RoS, they calcualte the averages from them.

I'm sure I could copy/paste all 14,000 of them into a spreadsheet and calculate the average myself, but do you really think the result would be different?

IveSeenTheLight

HAMISH_MCTAVISH wrote: »

ISTL has a handy graph illustrating this point, and if he could post it here that would probably paint a nice easy picture for even the simplest of bears to understand.

Here is the graph with the data taken from the Registers of Scotland Executive Agency

HAMISH_MCTAVISH

Lets play "spot the crash" in Aberdeen........

Anybody?

Anybody?

Anybody?

Bueller?

Bueller?

Bueller?

No?

Thought not......

DaddyBear

HAMISH_MCTAVISH wrote: »

Lets play "spot the crash" in Aberdeen........

Anybody?

Anybody?

Anybody?

Bueller?

Bueller?

Bueller?

No?

Thought not......

Every boom has it's bust. Aberdeen's crash us just around the corner.

googler

IveSeenTheLight wrote: »

Zoopla estimate figures are pie in the sky. They'd be better off sticking that finger up their hoop instead of in the air. At least that way it would be warm

I'm not quoting their 'Zed index', nor their estimates for individual houses. I thought I made that clear.

They have a list of sales over the last 1, 3, 5 or 7 years, and at the top of that list, there's an average price shown over the period chosen. Change the period, the average changes.

Is there any reason to suppose this average is anything other than a genuine average (total of prices divided by number of sales) ???

As I said, I can add them all up myself and divide that by the number of sales, but I feel that will yield the same figure.

IveSeenTheLight

googler wrote: »

I'm not quoting their 'Zed index', nor their estimates for individual houses. I thought I made that clear.

They have a list of sales over the last 1, 3, 5 or 7 years, and at the top of that list, there's an average price shown over the period chosen. Change the period, the average changes.

Is there any reason to suppose this average is anything other than a genuine average (total of prices divided by number of sales) ???

As I said, I can add them all up myself and divide that by the number of sales, but I feel that will yield the same figure.

Why not then use genuine indexes such as the LR or the RoSEA?

Mr.Brown_4

IveSeenTheLight wrote: »

Why not then use genuine indexes such as the LR or the RoSEA?

I use PropertyBee if that helps?

googler

IveSeenTheLight wrote: »

Why not then use genuine indexes such as the LR or the RoSEA?

I haven't looked at how easy it is to get every sale price from the sites or sources you suggest. Sites like zoopla, ourproperty etc get a 'feed' from RoS, and in theory at least, should have every sale listed that RoS feeds them... sometimes there's errors, but in the main, I'd expect it to be reliable.

I can easily copy/paste the data from zoopla and throw it into a spreadsheet for analysis. Don't know if I can do the same for your sources.

Do you think there's any reason to suppose the zoopla averages are inaccurate? It looks to me as though they're based on total sales value divided by number of sales, which as i say, is fairly straightforward and unlikely to be in error.....

Euphoria1z

zooplas valued my flat at 180k. i bought it at the peak for 165k in 2007 (july), during 2008 it valued it at 150k, during 2009 it valued it at 170k, last value checked in jan 2010 at 180k, not really sure what to make of it? is my flat worth 180k now you reckon? (in Edinburgh)

Mr.Brown_4

Euphoria1z wrote: »

zooplas valued my flat at 180k. i bought it at the peak for 165k in 2007 (july), during 2008 it valued it at 150k, during 2009 it valued it at 170k, last value checked in jan 2010 at 180k, not really sure what to make of it? is my flat worth 180k now you reckon? (in Edinburgh)

Given that I know nothing about you, your flat, the area, the market, or Edinburgh, or Scotland for that matter - and have no knowledge of Zoopla or its methodology, let alone the 101 other things that build into a valuation - I'd say yes, definitely worth 180k.