Halifax +0.1%

geneer

HAMISH_MCTAVISH wrote: »

Mate, forget it.

I admire your patience and persistence but you've got more chance of teaching quantum physics to Forrest Gump than getting Jimmy to understand averages.

Or indeed having Hamish understand that an average price change may not mean everything is as rosey as he like to sell it as.

System

Cleaver you have the patience of a saint. I was head-desking after about 5 posts of this lot.

Jimmy_31

Cleaver wrote: »

Well that's a different thing isn't it? I'm fine with what you've just said. It's the same as me saying, "this report states that the average wife is 15 stone, whereas mine is 9 stone, so I don't care". Which is fine. But the average wife is still 15 stone.

Where I disagree with you is the bit in bold. The house prices in your local area do relate to the stats for the average house prices in your area, as one stat is taken from the other. So they are inextricably linked.



I think you're still confused. The average price is the average sales price for all the houses that sell. That's it. It's as simple as that.



Again, these are two unrelated statements. As I type this the value of a Marks and Spencer share is 359.22p. That's just a fact, same at the average house price. Whether you or I think that the price of a M&S share or the average house represents good value, or whether we chose to buy either or not, is a completely different kettle of fish.

I'm still not quite sure you understand that when you or someone else does buy a house, that one purchase represents one data point that makes up the average house price that you see in your newspaper? The price you see in the EA window doesn't really have much to do with it?



Average house price data has been published for decades and decades and decades. in fact, I'd probably take a guess that average house price data was invented before Estate Agents were.

Yes i know how it works and why its an average price but the point is that i DO NOT CARE what the average price of a house is, the average price is based on houses that sell for a quid to a million quid plus all the stuff thats thrown in to the sale like carpets curtains furniture etc, i know you are going to tell me that this last parts data isnt included or something like that, lots of dodgy deals go on in the housing market so why would i base my decision on buying when the data has dodgy deals in it.

Can you see what i mean, the average house price data has all kinds of different bits of cr$p thrown into it and yes i know that the average price is still the average price, but i wouldnt go and buy a house tomorrow just because halifax said house prices had dropped by 5%, im just going to wait till a seller puts a house up for a price im willing to pay due to it being value for money, even though i know that there is an average price for this house, what that price is at the time wont really be of interest to me because the only thing i could base my decision on is if this is the cheapest house im happy to buy on that street.


so just to confirm, yes i know how averages are worked out.

Also the price i will be paying for a house will have quite a lot to do with whats in the estate agents window, if its overpriced i wont bother viewing it. I know it will end up in the average halifax house price if i had bought it, but whats that got to do with anything, i base my house purchase on what i can afford not wether the house price average in britain has gone up or down this month.

ukcarper

I can see why average prices don’t interest you but I think just going by the estate agents window price is not a good idea the last 2 houses in my street went for £20k less than they were advertised at.

System

Jimmy_31 wrote: »

Also the price i will be paying for a house will have quite a lot to do with whats in the estate agents window, if its overpriced i wont bother viewing it.

How do you know if it's overpriced? Presumably if it's higher than the average price for a similar house?

But you don't care about averages. Do you even have a deposit saved?

Jimmy_31

HAMISH_MCTAVISH wrote: »

Mate, forget it.

I admire your patience and persistence but you've got more chance of teaching quantum physics to Forrest Gump than getting Jimmy to understand averages.

Well done hamish you managed to see that post, seeing as your on a roll why dont you go and look for all the other posts you have dodged were people more intelligent than me have called you out on something and you have deemed it to be a silly post that doesnt even deserve your attention.

Right or wrong ill still answer people when they ask me something, i may look a bit thick to a few people but you look like a soft ar5e to a lot of people.

Do you find what i have said to be

A... Silly
B... totally wrong
C... full of spelling mistakes
D... Beneath you

If your answer is b or c feel free to respond.
if your answer is a or d please feel free to ignore the post

Cleaver

Jimmy_31 wrote: »

Yes i know how it works and why its an average price but the point is that i DO NOT CARE what the average price of a house is,

Okay. That's fine.

Jimmy_31 wrote: »

the average price is based on houses that sell for a quid to a million quid plus all the stuff thats thrown in to the sale like carpets curtains furniture etc, i know you are going to tell me that this last parts data isnt included or something like that, lots of dodgy deals go on in the housing market

Can you possibly explain what you mean by 'dodgy deals'? 99% of houses just have one transaction: the sale price. It's quite easy to work out. Obviously all the indicies use slight different statistical methods, but they are obviously all on the same page as their figures are all so close. So to ask again, what 'dodgy deals' do you mean?

Jimmy_31 wrote: »

Can you see what i mean, the average house price data has all kinds of different bits of cr$p thrown into it

I'm honestly not trying to be difficult, but I have no idea what you're talking about when you refer to 'all kinds of different bits of cr*p'. Could you expand on what you think affects the average price aside from the sold price of the house?

Jimmy_31 wrote: »

and yes i know that the average price is still the average price, but i wouldnt go and buy a house tomorrow just because halifax said house prices had dropped by 5%

Did I ever suggest you would? It's up to you what you do with an average house price figure. It just is what it is.

Let's go back to the weight example and say that I weigh 18 stone (I don't by the way, but let's go with it). A report comes out that states that the average weight for a male my age is 12 stone. Their findings found, using a huge data set, that only 10% of males were 18 stone or above.

Just like you, I have a choice of what to do with this data.

1) Tell the survey makers that they are liars.
2) Accept that it's true but simply ignore it.
3) Understand it and use it to influence future decisions I may make about my weight. It's an average figure, but it's helpful to use it along with a number of other factors.

I imagine that most people would chose number 3. You seem to be verging between 1 and 2. For some reason.

HAMISH_MCTAVISH

Jimmy_31 wrote: »

Do you find what i have said to be

A... Silly
B... totally wrong
C... full of spelling mistakes
D... Beneath you

E... All of the above.

Cleaver

Joeskeppi wrote: »

How do you know if it's overpriced? Presumably if it's higher than the average price for a similar house?
Do you even have a deposit saved?

Does your Mum know you're on the internet after 8.30pm? There are many questions we could ask here.

Jimmy_31

Joeskeppi wrote: »

How do you know if it's overpriced? Presumably if it's higher than the average price for a similar house?

But you don't care about averages. Do you even have a deposit saved?

I know its overpriced because i know how much it cost before the boom, so to me 70,80,90,100k added onto a house price tag for no other reason than a boom caused by irresponsible lending is not value for money.

I dont think some people can believe that a lot of FTBs who didnt buy during the boom wasnt because they couldnt afford it, its because they were not willing to pay over the odds for it.

Yes i have a deposit.