Government investigates house price indices

chucky

Graham_Devon wrote: »

It's going to look at ALL the indices, not just the government ones. That's just where they are starting.

Please. Read the article.

i've read the article

but that's an answer to a different question - my question was

how do the government indicies use different data?

from your post

Graham_Devon wrote: »

One minute prices down, the next minute prices up, all based on different data.

chucky

Graham_Devon wrote: »

It's going to look at ALL the indices, not just the government ones. That's just where they are starting.

Please. Read the article.

and...

here's the only thing the article says about the other indicies.

The ONS review will initially focus on house price indices published by the government which should be completed by the of this year.

so they are ONS are going to review the government indicies but only consider the other non-government indicies - there is a big difference between 'review' and 'consider'.

The review will then consider house price statistics more broadly to see how useful they are to the public.

the government would have very little influence or ability to dictate to any private sector company with regards to their data and calculation methodolgy especially when their information isn't to disimilar to their own... what's there to change...

Really2

I presume they will be looking at DCLG and the LR seeing it is ONS data.

I am not having a go GD I just read what you wrote and thought they were reviewing all indices. No need to go down the argument root.

Others have since pointed out what is being talked about so I am fine.

Graham_Devon

The article quite clearly states that they will start with the government indicies, and then look more broadly at all indicies.

I'm not sure how you two can even get confused over this, and whats more, try and state they are only looking at the government ones. But, as usual, you have created confusion surrounding it, merely to argue.

chucky

Graham_Devon wrote: »

The article quite clearly states that they will start with the government indicies, and then look more broadly at all indicies.

I'm not sure how you two can even get confused over this, and whats more, try and state they are only looking at the government ones. But, as usual, you have created confusion surrounding it, merely to argue.

you seem to have avoided any of the questions asked about your own thread/posts and decided people are trying to argue with you... they've just asked you questions about your post and statements.

that must be a new meaning to 'looking for arguments' if you are unable to or are avoiding answering the questions put to you.

good work

Graham_Devon

My post, about up one minute, down the next, related to all indicies, as thats the plan, to look at them all. Halifax up, nationwide down, rightmove down. The news reporting up, down, down.....someone else may come along, say up, and then the news reports up again.

It did not relate to only the government indicies, as, as I have maintained throughout, it's looking at all indicies. It really isn't my fault if you cannot grasp that the government plans to look at all indicies.

Jesus. This really is hard work sometimes. The petty ankle biting really is getting tiring. No matter what's said, it's turned into something else.

Another thread down the pan because of pathetic nit picking.

Really2

Sorry how have I created confusion? (I just responded to what you had wrote not the article initialy)

to me it says

The review will then consider house price statistics more broadly to see how useful they are to the public.

That says they are going to review how useful house price stats are in general to the public.
That will not be reviewing how Halifax and Nationwide do their stats.

It is more in the lines how relevant is the average house price in general, for example the average may go up but your area may go down but you may not see that etc, you just see a national average. Also some lenders are are bias so may skew some of the average.

Halifax and nationwide use their own data, so how can the ONS judge it?
All they are looking at doing is how useful it is EG the average house price for the whole country.

The outcome to be prosumptious may be that they recomend to release an average for different types of houses in different areas as well as an overall average for the UK.

chucky

Really2 wrote: »

Halifax and nationwide use their own data, so how can the ONS judge it?

that was my question that Devon has decided to ignore and try and cause arguments instead of having a discussion about the indicies.

let me try again (i know i'm wasting my time) but let me try again to see if we can get this thread back on topic instead of going down the argument direction that Devon obviously wants...

but that's an answer to a different question - my question was

how do the government indicies use different data?

Graham_Devon wrote: »

One minute prices down, the next minute prices up, all based on different data.

RenovationMan

I interpreted the report to be saying that house price indexes are pointless, including the land registrys.

"Property is an illiquid asset and minor monthly fluctuations recorded by a specific organisation cannot be generalised to the sentiment of all homebuyers."

If that is what they're saying then I completely agree with them. The average price of a house in the UK has absolutely no bearing on anything whatseoever except to provide fodder for the media to print large headlines and to sell newspapers, oh and for people on here to argue about over several pages and several weeks/year of their precious lives.

A good comparison would be the 'Comic Book Guy' in the Simpsons in " Treehouse of Horror VIII", when a nuclear missle is about to detonate above his head, he says to himself "Ohh, I've wasted my life."

Really2

chucky wrote: »

unfortunately Devon missed this bit,

Did I get told off for missing out a following paragraph from the start of an article last week.

Looks like just quoting the bottom is ok though.