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Halifax - Prices unchanged in Jan
dannyboycey
Posts: 1,060 Forumite
How do the get away with it? They go on to say
"Annual house price inflation was 4.5%, down on the previous month's figure of 5.2%."
So how can prices be unchanged, yet annual inflation drops 0.7% in one month!? It appears to me that they just make this stuff up as they go along. I can see next months release saying "prices rising again!".
LINK: http://news.bbc.co.uk/1/hi/business/7226907.stm
"Annual house price inflation was 4.5%, down on the previous month's figure of 5.2%."
So how can prices be unchanged, yet annual inflation drops 0.7% in one month!? It appears to me that they just make this stuff up as they go along. I can see next months release saying "prices rising again!".
LINK: http://news.bbc.co.uk/1/hi/business/7226907.stm
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Comments
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dannyboycey wrote: »How do the get away with it? They go on to say
"Annual house price inflation was 4.5%, down on the previous month's figure of 5.2%."
So how can prices be unchanged, yet annual inflation drops 0.7% in one month!? It appears to me that they just make this stuff up as they go along. I can see next months release saying "prices rising again!".
LINK: http://news.bbc.co.uk/1/hi/business/7226907.stm
It's because the previous December's figures have dropped out of the numbers.
Lets say we have the below set of average house prices (in thousands) for Jan - Dec 2007:
198, 210, 211, 211, 211, 211, 212, 210, 211, 212, 212, 213
The price rise Year on Year (YoY) for 2007 is 7.6% being (213-198)/198. The price rise Month on Month (MoM) Nov to Dec is 0.5% being (213-212)/212.
If the average house price in Jan 2008 is unchanged from Dec 2007, the YoY figure is now 1.4% being (213-210)/210. The MoM figure is 0% (by definition!).
That's why MoM figures will tend to change more quickly than YoY ones. They tend to be more volitile and so less helpful as they'll have funny skews in them (not all months have the same number of days, or weekends or bank holidays). The day off we had when the Queen Mother died pushed down GDP growth for the month by almost 0.5% as we lost 1/20th of the working days for the month!0 -
Ahhh... sneaky. Thanks for clarifying so eloquently Gen.0
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Seriously dissilusioned.
1 min 46 in. Does he think that wont happen!0 -
Sigh. Welcome back bruno.
Everything that is supposed to be in heaven is already here on earth.
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Oh my god he's back. Yeah go Bruno you nutter.0
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Doozergirl wrote: »Sigh. Welcome back bruno.
Ahh.. the notorious Bruno. I can finally put a face to the name. I don't know whether to laugh or cry at him.
Maybe he's hoping for one last push of HPI so he can remortgage and get down to B&Q for some new wallpaper!0 -
dannyboycey wrote: »Maybe he's hoping for one last push of HPI so he can remortgage and get down to B&Q for some new wallpaper!
:rotfl: Nah, it's so old, it's in!Everything that is supposed to be in heaven is already here on earth.
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dannyboycey wrote: »Ahh.. the notorious Bruno. I can finally put a face to the name. I don't know whether to laugh or cry at him.
Maybe he's hoping for one last push of HPI so he can remortgage and get down to B&Q for some new wallpaper!
I did ask him nicely http://forums.moneysavingexpert.com/showthread.html?p=8383947#post8383947 but he mumbled something about having an umbrella handle stuck up his............:eek:0 -
Doozergirl wrote: »:rotfl: Nah, it's so old, it's in!
"Homeowners should stay calm and not redecorate! If they hold on for the long term it will all come back into fashion." :rotfl:0
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