Halifax +0.1%

Jimmy_31

HAMISH_MCTAVISH wrote: »

E... All of the above.

Incorrect, E was not in the initial data that was provided so obviously you cant make a decision on data containing irregularities.

Jimmy_31

ukcarper wrote: »

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.

Dont worry but i wont be paying anywhere near the asking price for the house i buy.

chucky

crash123 wrote: »

The Halifax and Nationwide do have a vested interest. They have lent against property. If this falls it must be shown in the accounts.

The land registry is the most reliable but it does not include repossesions and auction properties so not a true reflection of the market and it does lag.

but... the Halifax and Nationwide virtually mirror the Land Registry Index.

either all three of them have a vested interest and are lying or none of them do because they're all wrong.

System

Cleaver wrote: »

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

I got a note that says I can.

Jimmy_31

Cleaver wrote: »

Okay. That's fine.



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?



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?



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.

Ok say a 3 bed semi comes up in my area (house A) for 30k below the average house price, do i think to myself ill just have one last check of halifaxes latest house price figure so i know what to offer and eventually pay, or do i just look at the other 3 bed semis in that street houses B C D E F G which are priced from 30k to 5k below the average house price and check to see if they are all offering the same things id get with house A, if the answers yes id make an offer under the asking price of house A. Yes i know somewhere in the background the data is there but its had no influence on my offer.

Cleaver

Jimmy_31 wrote: »

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.

You're not describing something that is necessarily overpriced, you're describing something that you don't personally reflects value for money for you. Which is fine, but they are two different things.

House A sold for £150,000 in 2007. Houses B, C and D are similar houses down the same street and sold for £140,000 in 2011. The latest Halifax report states that the average house price for that house type in that area is £139,000 in April 2011. House E down that street is currently on for sale for £142,000.

You could realistically say that House E is 'worth' somewhere between £135,000 and £145,000. All depends what / if someone buys it for.

You may feel that you would buy House E but for no more than £100,000. And that's fine, as that's what represents value for money for you. And you may think that anything over this price is 'expensive'. But you have to understand that this is different from deeming it overpriced. The stats show that people are buying similar houses for around £139,000, so that represents, within 10% or so, the value of that house. Pretty much.

Jimmy_31 wrote: »

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.

It's rare that people pay 'over the odds' for a house. They pay what it was worth at a moment in time within a fluid market. Obviously it then may fall or rise considerably afterwards and become worth something else.

I feel like I'm discussing brain surgery techniques with Peter Andre.

Jimmy_31

SLUMDOG_GHUOLS wrote: »

That's because you won't ever be buying a house. Man up for God's sake, you have no deposit and never did.

And you are just too creepy to listen to, are you currently wearing a balaclava?

System

Cleaver wrote: »

I feel like I'm discussing brain surgery techniques with Peter Andre.

:rotfl:That's twice you've made my wife ask why I'm laughing tonight.

Cleaver

Joeskeppi wrote: »

:rotfl:That's twice you've made my wife ask why I'm laughing tonight.

There's a really obvious joke in here somewhere about making your wife laugh a third time, but I'm struggling to put it together. I'll get back to you.

System

Cleaver wrote: »

There's a really obvious joke in here somewhere about making your wife laugh a third time, but I'm struggling to put it together. I'll get back to you.

Looking forward to it.