Halifax Hpi September 2010 -3.6%

Exocet · 7 October 2010 at 11:16AM

angrypirate wrote: »

Why do Halifax try to skew this and hide it?

Dammed if I can fathom that out. It can't be anything to do with requiring an active thriving market to continue to pay directors bonuses I suppose.

CRASH_BANG_WALLOP · 7 October 2010 at 11:16AM

in nearly 30 years. cool

CRASH_BANG_WALLOP · 7 October 2010 at 11:21AM

Welcome to the crash

RenovationMan · 7 October 2010 at 11:25AM

mbga9pgf wrote: »

So Hamish, how have you benefitted from today?

Average prices have fallen over 6 grand. feeling the pain there sat with multiple home ownership?

I dont understand, didnt you buy recently? Are you feeling the pain?

If my house lost 3.6% in value, it means I'm now £16,200 worse off. Who do I have to pay this to?

JonnyBravo · 7 October 2010 at 11:25AM

angrypirate wrote: »

Rogue months?? As of the end of September, house prices are lower than they were 12 months ago.

Ok, so house prices may not go down as much, or may even increase in October, showing that Sept was a little bit of an anomoly, but the fact remains that right now according to Halifax, house prices are lower than they were 12 months ago.

Why do Halifax try to skew this and hide it?

They don't.
Averaging, which is all they are doing, just removes the extemeties, in both directions and gives a result less prone to wild fluctuations.

Picture a steadily dropping market (perhaps like we have now) and then October 2010 shoots up bofre resuming the fall in Nov. This would give them an opportunity to shout about the big YoY rise.
This is removed when it is averaged over 3 months.
It works both ways.

It means this full -3.6% is diluted somewhat til it gets some "friends" to back it up, (ie other falls) but once it does it will then require some sustained rises, not just one month, (ie the opposite of now) to outweigh the average falls.