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Debate House Prices
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ONS- HPI April 2012 + 0.2% MoM + 0.3% YoY
HAMISH_MCTAVISH
Posts: 28,592 Forumite
The ONS HPI index has replaced the DCLG house price index.
For those that don't know, this release is quite interesting as it uses CML mortgage approval data to be a slightly forward looking index like Haliwide, but has a much larger dataset as it includes data from all CML members.
It also derives an average mix adjusted house price. Unlike Haliwide, which only give a "typical house" price.
And it provides data for all regions of the UK, unlike LR which is just England and Wales.
Anyway....
Also the North East continues to skew the figures for England....
Average house prices increased in four of the nine English regions over the year to February 2012.
The largest annual increase was in London at 1.7 per cent.
Over the same period, average house prices decreased in four of the regions, with the largest decrease observed in the North East, at 5.0 per cent.
The average house price remained unchanged in the East Midlands during the year to February 2012.
Prices rose in the East +0.2%, South West +0.8%, South East +1.2%, London +1.7%. Prices in the East Midlands were unchanged.
Prices fell in the West Midlands - 1%, Yorks & Humber - 1.6%, North East -5%, North West -0.1%.
For those that don't know, this release is quite interesting as it uses CML mortgage approval data to be a slightly forward looking index like Haliwide, but has a much larger dataset as it includes data from all CML members.
It also derives an average mix adjusted house price. Unlike Haliwide, which only give a "typical house" price.
And it provides data for all regions of the UK, unlike LR which is just England and Wales.
Anyway....
In the 12 months to February 2012, UK house prices increased by 0.3 per cent.
• The average UK mix-adjusted house price was £224,473 (not seasonally adjusted)
• Seasonally adjusted UK house prices increased by 0.2 per cent over the month
• In the 12 months to February 2012, average house prices increased in both England and Scotland by 0.4 per cent and 1.1 per cent respectively.
• These increases were offset by decreases in Wales, where average prices decreased by 0.5 per cent, and Northern Ireland, where average prices fell by 9.7 per cent
Also the North East continues to skew the figures for England....
Average house prices increased in four of the nine English regions over the year to February 2012.
The largest annual increase was in London at 1.7 per cent.
Over the same period, average house prices decreased in four of the regions, with the largest decrease observed in the North East, at 5.0 per cent.
The average house price remained unchanged in the East Midlands during the year to February 2012.
Prices rose in the East +0.2%, South West +0.8%, South East +1.2%, London +1.7%. Prices in the East Midlands were unchanged.
Prices fell in the West Midlands - 1%, Yorks & Humber - 1.6%, North East -5%, North West -0.1%.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
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average house price £224,473 :rotfl:Russell Quirk, of online estate agent eMoov.co.uk, said house prices in London were "in a league of their own".
"Average prices in England are only in the black due to the strength of London," he said.
"If it weren't for the capital, the overall house price picture would be a lot less pretty."
http://www.bbc.co.uk/news/business-17739966Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
CRASH_BANG_WALLOP wrote: »average house price £224,473 :rotfl:
]
And the rightmove average asking price is £243,737.
Not exactly getting much in the way of discounts there...“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Can anyone explain the massive difference in average price between the ONS figures and Halliwide figures?
Because if the ONS figures are correct then they show that UK property is massively overpriced in comparison to average earnngs.0 -
HAMISH_MCTAVISH wrote: »And the rightmove average asking price is £243,737.
Not exactly getting much in the way of discounts there...
frothing over an index even estate agent dudes say is skewed is bad enough. But frothing over asking prices as well?
i was going to use the D word but you might start a thread about itMaidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
shortchanged wrote: »Can anyone explain the massive difference in average price between the ONS figures and Halliwide figures?
Yes.
Haliwide do not provide an average house price.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Sorry, but I refuse to take any notice of a CML based index 0
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HAMISH_MCTAVISH wrote: »Yes.
Haliwide do not provide an average house price.
OK Hamish. Where does this mythical £160,000 ish figure come from?0 -
CRASH_BANG_WALLOP wrote: »Russell Quirk, of online estate agent eMoov.co.uk, said
Seriously?
"Russell Quirk, of online estate agent eMoov".....
Is that the best you can do?
So back to reality....
Prices rose in the East +0.2%, South West +0.8%, South East +1.2%, London +1.7%.
Prices in the East Midlands were unchanged.
Prices fell in the West Midlands - 1%, Yorks & Humber - 1.6%, North East -5%, North West -0.1%.
Once again it's clearly the North East skewing the figures, not London. “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
shortchanged wrote: »OK Hamish. Where does this mythical £160,000 ish figure come from?
Please tell me you're joking?
It's surely not possible you've been on house price boards this long yet still don't understand the key indices being discussed?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »
Once again it's clearly the North East skewing the figures, not London.
Oh you incredibly silly boy Hamish.
Do you realise what happens when you take 5% off £90,000?
Do you realise what happens when you add 1.7% to £350,000?
Which is the bigger number? Do you know what an average is? Which has more weight? The bigger, or smaller number?
You stupid....stupid boy.0
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