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The McGlashan

That Supposed 6% Yoy Rise In Edinburgh

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Em, hold on a minute.

The Hootsman (the only source I can find for this supposed 6% YoY rise) said:

The Edinburgh Solicitors' Property Centre (ESPC) market report for August, due shortly, is expected to show... a rise of 6 per cent

But....

ESPC News page says:

Latest ESPC figures reveal that average house price in Edinburgh showed a year-on-year increase following twelve consecutive months in which prices declined. A 2.2% rise took the average price of a home in the Capital to £206,030 and marked the first annual increase in prices since July 2008.

The report for Aug 08 says:

average price of property in Edinburgh [is] £201,517

My calculator agrees that that's a 2.2% YoY increase. That's not really anything to crow about - my current account gets a better return than that.

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The Hootsman and EN articles do say 'expected' to show. Nice way to cover themselves.

The 'expected' % change was 4% different from reality - to the upside. I wonder if a similar mistake with a 4% difference on the downside would have been acceptable ? That would have shown a YOY decrease in all the stories this week. No 'vanguard of property prices' stories on the back of that one. :rolleyes:

Quite shameless really. I asked this question on another thread - was the 13.7% fall last month even mentioned anywhere prominently ? I have just had a look at the ESPC articles for both July and August. Have a look at what point the 2.2% rise and 13.7% fall are mentioned in both.

Those boys must have been on a course at the Tony Blair School of Spin.

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I wonder if the hootsman will mention that house prices fell £6K between July and august.

:rolleyes:

Never even noticed that !! You see us lot like looking at the bigger picture. The more this pish comes out the more I am certain us 'doommongers' have it spot on. The desperation from the VI's is getting worse. The desire from the sheeple for property is however mostly still though. Huge pent up supply, and of course pent up demand. This is going to drag on for a while.

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