House solds but not appearing on sold house lists

sky111

Hi,

A house sold 6 months ago and although, the sale is registered on The Land Registry site, the house does not appear on any of the sites showing as sold. How reliable are these recent house sale lists when some house sales are not listed? Does it make a difference that the house sold for half the market value so it would not make the list or the fact that it was registered under a company name?

I also know of another sold house which never appears on the list.
These lists are therefore inaccurate.

kingstreet

Certain transactions - repossessions for one, do not appear in the lists you mention. I'm sure there are others.

Mallotum_X

Some preperties turn up months or even a year or two later. I get a monthly email from one site and often there can be a house from a year back on the current months list. Some just never turn up.

celyn90

It makes sense that odd transactions don't show up or the freak outliers would skew the data. If the values aren't representative of the actual values in the area, they aren't much use.

sky111

celyn90 wrote: »

It makes sense that odd transactions don't show up or the freak outliers would skew the data. If the values aren't representative of the actual values in the area, they aren't much use.

Hi,

Surely some sale transactions which, would warrant futher investigation just get missed when they never appear on these lists. When a house sells for half of what he should have on the open market, then the transaction would be unusual particularly since the house is in good liveable condition and indeed was rented straight out by the new 'owners'.

In my area, there seems a hugh increase in the number of adverts in the local paper wanting to buy houses for cash, any condition or location and of course way below the true market value. Indeed these 'buyers' would setup companies and keep on buying houses below market value.
It would be interesting if those recent sold lists were accurate.

Davesnave

sky111 wrote: »

Hi,
It would be interesting if those recent sold lists were accurate.

Maybe 'accuracy' depends on the intended use of the data.

If people just want to be nosy, then in their eyes, the omission of certain properties may render the data 'inaccurate.'

On the other hand, if the data is being aggregated to produce average prices for an area, then it is good practice to take out properties which would skew it.

For example, my house is nothing special, but it has over 5 acres of land, so it's better left out, especially as there are few transactions around here.

Probably irritates the neighbours, though!

celyn90

Davesnave wrote: »

Maybe 'accuracy' depends on the intended use of the data.

If people just want to be nosy, then in their eyes, the omission of certain properties may render the data 'inaccurate.'

On the other hand, if the data is being aggregated to produce average prices for an area, then it is good practice to take out properties which would skew it.

For example, my house is nothing special, but it has over 5 acres of land, so it's better left out, especially as there are few transactions around here.

Probably irritates the neighbours, though!

I agree, I thought the purpose of the available sold prices was to give an idea of the trends and area averages for normal sales/house prices - so you would through matter of course remove any out lying or non-representative data points. If you after specific data on a certain house, the property records can be obtained from the land registry.

poppysarah

Davesnave wrote: »

Maybe 'accuracy' depends on the intended use of the data.

If people just want to be nosy, then in their eyes, the omission of certain properties may render the data 'inaccurate.'

Erm accuracy means all of it. Warts and all.

Why would something be more accurate if you remove the bits you want hidden?

poppysarah

celyn90 wrote: »

It makes sense that odd transactions don't show up or the freak outliers would skew the data. If the values aren't representative of the actual values in the area, they aren't much use.

Sadly you don't know what percentage of houses are being sold "below market value" ...

and even repo sales are actually happening at market value.


It is a joke to share only the info that props up the housing market.

Davesnave

poppysarah wrote: »

Erm accuracy means all of it. Warts and all.

Why would something be more accurate if you remove the bits you want hidden?

I'm just saying what I understand to be the reasons for the present situation. If you think differently, fine, but presumably those who collect & publish the data have good reasons for their choices and occasionally need to justify them.

Apparently, you think that those choices are in some way influenced by ulterior motives, but I couldn't possibly comment on that.

sky111

Davesnave wrote: »

On the other hand, if the data is being aggregated to produce average prices for an area, then it is good practice to take out properties which would skew it.

So if the lists just give the idea of trends and averages, are the sales which skew the figures intentionally removed by sites after they are released by the Land Registry as these sites have a vested interest to prop up prices or is there a site that actually lists complete sales? I would think that while historically it was the interest to prop up house prices, buyers should expect to see unusual sales particularly when the market is more a buyers market.