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Debate House Prices
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Nationwide march: +0.0% MoM +0.8%YoY
Comments
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Also, this is a different data set. The £235,000 is land registry I believe whereas £165,000 is houses and flats bought with mortgages from Nationwide.
House prices continue to fall in real terms. I suspect that they'll pick up a bit later in the year. Monthly figures are just noise of course.
I'm not sure where or if Hamish got £235k from but Land Reg is £163k. National average not much use really where I am prices start at that.0 -
The flattish prices does very little for renters, they are paying more and more each month for utilities, food etc eating into their ability to raise a deposit.Thrugelmir wrote: »Made allowance for your higher pension contributions?
Let's not mention their savings growing at a lower rate than inflation...0 -
The flattish prices does very little for renters, they are paying more and more each month for utilities, food etc eating into their ability to raise a deposit.
Let's not mention their savings growing at a lower rate than inflation...
Yes please don't mention that chucky, I don't like losing money while I am waiting for a suitable property to come onto the market. Bloody 2.7% (so only 1.62% net).Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Hamish, the other day you told me that the average price of a house is more like 235k and that the nationwide price was 'not an average, and never claimed to be'
Correct.So is it now an average price
No.and if not, why did the survey find so,
It didn't.
Nationwide are clear on the methodology for their survey.
The journalist in the OP, a bit less so.and why are you repeating this falsehood if you know it not to be the case?
I quoted the article.
Nothing more, nothing less.If it now is an average price, then was the figure you quoted me the other week wrong, or was it right then but wrong now?
It isn't an average, and it's not my fault you're confused.I know the answer to all those questions.
Obviously not.It's that your full of ****
:rotfl:
Perhaps.
But at least I know the difference between the average price of all houses and the average price of a standardised, typical, house.“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 -
What?
Hamish, are you now stating that the Nationwide don't provide an average house price!??!0 -
Graham_Devon wrote: »What?
Hamish, are you now stating that the Nationwide don't provide an average house price!??!
Nationwide provide the average price of a "typical standardised house", not the average price of all houses.
Surely you knew that?
Actually, please tell me you knew that after all these years of posting on the debate house prices board? Because if not, there truly is no hope for you....
From the NW methodology:we use a statistical process called hedonic regression to relate observed combinations of these characteristics to the house purchase price. Using this information we can estimate how much a house with a given set of characteristics would be expected to cost. In particular, we use a set of characteristics that describes the ‘typical’ UK house in order to track the value of a typical UK property over time. This typical house does not physically exist,“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: »Nationwide provide the average price of a "typical standardised house", not the average price of all houses.
Surely you knew that?
Actually, please tell me you knew that after all these years of posting on the debate house prices board? Because if not, there truly is no hope for you....
From the NW methodology:
Ahhh. Possibly the most anal post I've yet seen on this board in order to say "its not an average" and suggest house prices are higher.0 -
HAMISH_MCTAVISH wrote: »Nationwide provide the average price of a "typical standardised house", not the average price of all houses.
Surely you knew that?
Actually, please tell me you knew that after all these years of posting on the debate house prices board? Because if not, there truly is no hope for you....
From the NW methodology:
Interesting! Never knew that's how they come to the figure0 -
Graham_Devon wrote: »Ahhh. Possibly the most anal post I've yet seen on this board in order to say "its not an average" and suggest house prices are higher.
The original exchange that was being referred to was with regard to the difference between rightmove's "average price" and haliwide's "typical house" price.
They measure two completely different things.“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 -
Interesting! Never knew that's how they come to the figure
Yep.
Halifax and Nationwide use very similar methodology and have a similar house price figure. Land Registry uses a different methodology but also does not provide an "average house price of all houses" in the monthly series, although interestingly does in the quarterly series which is not available to the public.
There are two indices that do provide an average of sold prices. ONS and Acadametrics. And Rightmove provides an average of asking prices.
All three of these indices show the average price in the low 200K range, with a relatively small gap between asking and sold averages.
They're not exactly identical in methodology, but they're close and are at least trying to measure the same thing, so a bit like the difference between Granny Smith and Golden Delicious apples, you're still comparing apples with apples.
Rather than being so completely different that they're more like comparing apples with elephants, which comparing Rightmove and Haliwide would be.“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
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