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staringclown

Schizophrenia in the UK housing reports

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Two articles - two days apart

Bearish

Housing market slowing down, says Halifax

The UK housing market is slowing down again, according to the latest report from the Halifax bank.

Its latest monthly survey shows that prices fell by 0.4% in May, after a 0.1% drop in April, taking the average UK house price down to £167,570.

Bullish

House prices still rising, says Nationwide

House prices are still rising, according to the latest monthly survey from the Nationwide building society.

Prices went up by another 0.5% in May, pushing the price of the average UK home up to £169,162 which was £15,000 more than a year ago.

Annual house price inflation fell slightly last month though, from 10.5% to 9.8%.

By the time you work out whose telling the truth your already down (or up) 10%. What an awesome market property is.

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See the House Price Statistics - UK National table. Big discrepancies in the two company's reports...

http://www.housepricecrash.co.uk/

Gotta hate a market that you can't ever get accurate figures for. The thing is that all of this data has a complete record with the titles office (or whatever it's called in each respective jurisdiction) And historical data as well. Why is it not available for free like every other market going?

Oh oh - there's a black van parked outside my...

Edit: cos it needed to be done

Edited by staringclown

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Gotta hate a market that you can't ever get accurate figures for. The thing is that all of this data has a complete record with the titles office (or whatever it's called in each respective jurisdiction) And historical data as well. Why is it not available for free like every other market going?

Oh oh - there's a black van parked outside my...

Edit: cos it needed to be done

The UK Land Registry produces a house price index. I don't think anyone questions its accuracy but it lags the other indices.

It is currently indicating +0.2% monthly for April and +8.5% for the year.

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The UK Land Registry produces a house price index. I don't think anyone questions its accuracy but it lags the other indices.

It is currently indicating +0.2% monthly for April and +8.5% for the year.

Thanks Sally. :) Good info. Splits the other two's values. Nationwide (+1.0% for April) and Halifax (-0.1% for April)

Interestingly they have a "repeat sales" metric as part of the index.

The HPI is calculated by using Land Registry's own 'Price Paid Dataset'. This is a record of all residential property transactions made in England and Wales since January 1995. At present it contains details on over 15 million sales. Of these, over five million are identifiable matched pairs, providing the basis for the repeat-sales regression analysis used to compile the index. This technique of quality adjustment ensures an ‘apples to apples’ comparison between properties.

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