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Debate House Prices
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Day 4: 12 Days of Xmas
Comments
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I am so out of date, I thought National was 200k depending on who you ask.
Logically it should be in that ballpark, which is why when I heard a much higher number it made me go:eek:.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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London price not UK.0
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I am so out of date, I thought National was 200k depending on who you ask.vivatifosi wrote: »Logically it should be in that ballpark, which is why when I heard a much higher number it made me go:eek:.
Again I suspect we're all confusing different indices and methodology.
From memory the latest ONS shows average national house prices are around 300K and London is around 530K.
But ONS use an actual (mean) average rather than the 'typical' house price achieved through the hedonic regression models of Halifax and Nationwide.
Nationwide is around 195K for a 'typical' house and Halifax is around 205K for a 'typical' house nationally. Both indices assume a typical house to be a 3 bedroom with broadly similar characteristics.... And that would be around 400K in London.
To answer the OP I've no idea which figure the GLA would have quoted, but going to guess it was a scary headline figure designed to achieve maximum interest rather than a detailed explanation of the somewhat more nuanced reality.“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: »Again I suspect we're all confusing different indices and methodology.
From memory the latest ONS shows average national house prices are around 300K and London is around 530K.
But ONS use an actual (mean) average rather than the 'typical' house price achieved through the hedonic regression models of Halifax and Nationwide.
Nationwide is around 195K for a 'typical' house and Halifax is around 205K for a 'typical' house nationally. Both indices assume a typical house to be a 3 bedroom with broadly similar characteristics.... And that would be around 400K in London.
To answer the OP I've no idea which figure the GLA would have quoted, but going to guess it was a scary headline figure designed to achieve maximum interest rather than a detailed explanation of the somewhat more nuanced reality.
Of course I used the figure that will help make my point! Crivens, why would it be up for discussion? **thumps oak table with fist and makes steely glaze**
Tomorrow's question is part 2.
Anyhoo, enjoy the quiz all.
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Of course I used the figure that will help make my point! Crivens, why would it be up for discussion? **thumps oak table with fist and makes steely glaze**
Ah... Well in that case I'm going to guess it was Rightmove's asking price index for Greater London which is 616K.:D“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: »Ah... Well in that case I'm going to guess it was Rightmove's asking price index for Greater London which is 616K.:D
Haha.
Actually I'm using the GLA's figure which is £513,000, up 7%. Private rents (according to the ONS) were up 4.1% for the year in London vs a CPI figure of -0.1% for the same period.
http://data.london.gov.uk/housingmarket/0
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