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Debate House Prices
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U.K. House Prices Rise 0.3% on Pent-Up Demand, Acadametrics
Comments
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THE_GHOULS_APPRENTICE wrote: »A lovely little house just up the road from me sold only last week. My local friendly estate agent informed me that there was a bidding war and it went for £60K above its asking price.
and the asking price was....???0 -
THE_GHOULS_APPRENTICE wrote: »A lovely little house just up the road from me sold only last week. My local friendly estate agent informed me that there was a bidding war and it went for £60K above its asking price. I'm really delighted for the vendor. It's an excellent result all round.
Congratulations, I had heard house prices on the planet Zog were rising.
While you're at it give my regards to your 3 headed 5 ars*d estate agent.0 -
The source of this information was LSL property services.
Strictly speaking, the source of the data is Acadametrics who make money from selling data about the housing market. The long-term success of their business depends on them being right, not them bending over for a single client and providing them with some spin.
The first words in the 'What we do' part of the website:
Hardly the words of a 'vested interest' trying to paint a picture of rising house prices. This is the best of the indices for my money as it is Land Registry+. Rather encouragingly they are very open about their data sources and methodology. These graphs are particularly interesting (to me):
http://www.acadametrics.co.uk/LSL%20Acad%20HPI%20Comparison%20of%20Indices%20February%2011.xls
It really shows how noisy monthly numbers are and the relative quality of the different indices.
The indices are all basically showing the same thing. Prices are pretty much flat year-on-year or perhaps falling very slightly in nominal terms. That means that in real terms, house prices are falling. A part of that will simply be because houses aren't subject to VAT, one of the biggest drivers of inflation at present. Another will be that the market is barely functioning at present.0 -
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HAMISH_MCTAVISH wrote: »Interesting.....
That's a signal to buy Kleenex shares.
(Hamish is "interested").30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Acadametrics Ltd. and LSL Property Services Plc
In other words a bunch of Estate Agents0 -
THE_GHOULS_APPRENTICE wrote: »A lovely little house just up the road from me sold only last week. My local friendly estate agent informed me that there was a bidding war and it went for £60K above its asking price. I'm really delighted for the vendor. It's an excellent result all round.
Love It A Schizo And High On Crack , Youre Tripping Ghoulies.0
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