Nationwide October: +0.4% MoM, +0.8% YoY

Cleaver

I'm really looking forward to that magical month where LR, Nationwide and Halifax all show 0.0% MOM and 0.0% YoY and we can have a 2,765 page argument about whether that's good for bulls and bears and which 74 houses they use to get those figures and whether that's right or not.

FTBFun

Cleaver wrote: »

I'm really looking forward to that magical month where LR, Nationwide and Halifax all show 0.0% MOM and 0.0% YoY and we can have a 2,765 page argument about whether that's good for bulls and bears and which 74 houses they use to get those figures and whether that's right or not.

Yeah but you would say that - you have a VI.

nollag2006

Anyone got a link to the HPC discussion on this? They must be squirming over there !!!

HAMISH_MCTAVISH

HAMISH_MCTAVISH wrote: »

Well seeing as how you can't seem to grasp the concept of mix adjustment, I'm not surprised you don't grasp the fact that a minority of areas changing price can impact the median price.

Mix adjustment does not seek to compensate for differing rates of change in price between areas. Just for a change between housing types in the sales mix.

It prevents skew from more 4 bed houses selling than flats, or vice versa.

It doesn't prevent a median value changing as a result of a minority of areas changing price, whilst the majority remain stable.

OK, lets try a little example.

House prices are exactly £1000 in all areas. The median price is therefore also exactly £1000.

One year later:

House prices are unchanged in 70% of areas.

House prices rise by 2% in 10% of areas.

House prices fall by 6% in 20% of areas.

What is the median house price? Has it risen or fallen? Have the majority of houses fallen in price?

Answers on a postcard.....;)

So are we to assume that JoGuest has left the building.....;)

IveSeenTheLight

joguest wrote: »

I wonder what's things are like in miserable, grey, cities on the east coast of upper-scotland?

Beutiful blue skies this morning on the east coast of Scotland.

Prices wise, property is generally either at peak price or has exceeded peak.
No crashes or significant corrections.
http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html

Sibley

Anyone got a link to the HPC discussion on this? They must be squirming over there !!!

There are a few walking round with tombstones in their eyes :mad:

Rinoa

IveSeenTheLight wrote: »

Beutiful blue skies this morning on the east coast of Scotland.

Prices wise, property is generally either at peak price or has exceeded peak.
No crashes or significant corrections.
http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html

Wow. Edinburgh up £46,000 since Dec 2005 according to ROS

A sobering reminder for some.

MrRee_2

I do feel for those losers on HPC .... tee hee .... they have got it so badly wrong, it has cost many £Thousands£ ha ha ha ha ...

It is the climb I was expecting - houses are selling very fast around where I live - and, sadly, where I am looking to buy - there is a slight frenzy in the air when a new property hits the market ... if it is priced right it is sold in less than 24 hours.

The time for bargains has passed.

ruggedtoast

This is a dark and upsetting day for many hard working people who want simply to own a modest house to life in. Essentially this is yet another turn of the screw in this sinister boomer controlled economy we live in.

IveSeenTheLight

Rinoa wrote: »

Wow. Edinburgh up £46,000 since Dec 2005 according to ROS

A sobering reminder for some.

You do have to bear in mind that the ROSEA methodology does not mix adjust, meaning the individual monthly stats can be quite noisy.

Looking at the data over an extended period, it would largely point to stagnation in the last four years