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Debate House Prices


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Taking The Halifax Data When It Suits You

Pimperne1
Pimperne1 Posts: 2,177 Forumite
in Debate House Prices & the Economy
I make no apologies for linking this excellent piece of work on HPC.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=152362&st=195

Where I take issue is that, even though Halifax themselves don't have confidence in their figures, they are taken as gospel over there to suit their agenda.

For example the Halifax peak to current price is shown as £199,612 and £161,743 (a 19% drop) if they had used Nationwide then the figures are £186,044 and £166,256 (nearly 11% drop) and Land Registry £186,045 and £162,347 (13% drop).

Always accepting that in "real" terms home owners have taken a panning.
«1

Comments

  • mcc100
    mcc100 Posts: 624 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 22 October 2011 at 3:43PM
    Pimperne1 wrote: »
    Where I take issue is that, even though Halifax themselves don't have confidence in their figures, they are taken as gospel over there to suit their agenda.

    So what's the difference when posters on here take as gospel certain figures and headlines to suit their agenda ?

    Do you have an issue with them ? ..... If so you're going to have an awful lot of issues.
  • geneer
    geneer Posts: 4,220 Forumite
    mcc100 wrote: »
    So what's the difference when posters on here take as gospel certain figures and headlines to suit their agenda ?

    Do you have an issue with them ? ..... If so you're going to have an awful lot of issues.

    He's trolling.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    Pimperne1 wrote: »
    I make no apologies for linking this excellent piece of work on HPC.

    http://www.housepricecrash.co.uk/forum/index.php?showtopic=152362&st=195

    Where I take issue is that, even though Halifax themselves don't have confidence in their figures, they are taken as gospel over there to suit their agenda.

    For example the Halifax peak to current price is shown as £199,612 and £161,743 (a 19% drop) if they had used Nationwide then the figures are £186,044 and £166,256 (nearly 11% drop) and Land Registry £186,045 and £162,347 (13% drop).

    Always accepting that in "real" terms home owners have taken a panning.

    Why don't you go "over there" and tell them that.

    Honestly, this obsession with hpc.co.uk you lot have is peculiar.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Pimperne1 wrote: »
    I make no apologies for linking this excellent piece of work on HPC.

    http://www.housepricecrash.co.uk/forum/index.php?showtopic=152362&st=195

    Where I take issue is that, even though Halifax themselves don't have confidence in their figures, they are taken as gospel over there to suit their agenda.

    For example the Halifax peak to current price is shown as £199,612 and £161,743 (a 19% drop) if they had used Nationwide then the figures are £186,044 and £166,256 (nearly 11% drop) and Land Registry £186,045 and £162,347 (13% drop).

    Always accepting that in "real" terms home owners have taken a panning.

    Yet the Halifax income to house price ratio seems to suit you just fine, and you ignore the Nationwide version.....reason being house prices are lower on Halifax and therefore it makes salary to prices better, so you'll use it.
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    Graham_Devon wrote: »
    Yet the Halifax income to house price ratio seems to suit you just fine, and you ignore the Nationwide version.....reason being house prices are lower on Halifax and therefore it makes salary to prices better, so you'll use it.

    They are different indexes that use different methodologies. If you take a snapshot of either they give a single number which means nothing. What's good about both is that they are maintained and have a long and consistent history so that trends can be seen.

    It's pointless to compare affordability between Halifax and Nationwide. It's equally pointless to take either affordability figure and then say that they are wrong because average wages are really such and such unless data can be collected and maintained over time.
  • geneer
    geneer Posts: 4,220 Forumite
    You're right pimperne1. How intellectually dishonest muct you be to select only the most convenient statistics when it suits you.
    http://forums.moneysavingexpert.com/showpost.php?p=47900571&postcount=27
    :rotfl:
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    geneer wrote: »
    You're right pimperne1. How intellectually dishonest muct you be to select only the most convenient statistics when it suits you.
    http://forums.moneysavingexpert.com/showpost.php?p=47900571&postcount=27
    :rotfl:

    Or the one which the provider has some confidence in?
  • geneer
    geneer Posts: 4,220 Forumite
    Pimperne1 wrote: »
    Or the one which the provider has some confidence in?

    :rotfl:Ah. I see. So in actual fact according to the OP cherry picking statistics is ok then. Good to know.
  • geneer
    geneer Posts: 4,220 Forumite
    Pimperne1 wrote: »
    even though Halifax themselves don't have confidence in their figures

    That sounds an awful lot like an unsubstantiated bull meme.

    Evidence please.
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    edited 23 October 2011 at 1:31PM
    geneer wrote: »
    That sounds an awful lot like an unsubstantiated bull meme.

    Evidence please.

    Linky no worky (let Google be your friend) but:



    "Lloyds Banking Group is reviewing how its closely watched Halifax house price index is calculated, amid concern that the high number of different monthly measures can add to volatility and confuse sentiment in the market.

    The move comes ahead of findings next month from a government report into housing market statistics.

    Lloyds is undertaking a review of how it calculates the index, which is based on mortgage approvals made by Halifax. It is understood the bank hopes to iron out irregularities and volatility in the index".
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