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Alfie Moon

Government To Reform House Price Indices?

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See the following Daily Mail article reporting the possibility of the Government reducing the number of house price indices:

http://www.dailymail.co.uk/property/article-1304683/Get-grip-prices-Fewer-housing-indices-make-realistic-valuations--last.html

Is there a hidden agenda? If so what might it be?

As usual, there is the opportunity to add Readers Comments to help expose members of the public to a different analysis and understanding of the property market than provided by the mortgage lenders, Estate Agents and TV Property Programme presenters.

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See the following Daily Mail article reporting the possibility of the Government reducing the number of house price indices:

http://www.dailymail.co.uk/property/article-1304683/Get-grip-prices-Fewer-housing-indices-make-realistic-valuations--last.html

Is there a hidden agenda? If so what might it be?

As usual, there is the opportunity to add Readers Comments to help expose members of the public to a different analysis and understanding of the property market than provided by the mortgage lenders, Estate Agents and TV Property Programme presenters.

We don't want 'hard working homeowners' reminded of how much their home is falling in value several times a month do we now - this might undo years of brainwashing...

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The indices are helpful indicative illustrations but that's all.

Averaging the sale price of a bedsit in Aberdeen and a mansion in Kensington, and then trying to use that to gauge the market price of a 3-bed semi in Oxford is doomed to failure.

However, if the index is 10% lower/higher than last year, chances are that's a good indicator that prices really are falling/rising.

What you really need is a local index, like a local weather forecast, but there just isn't enough data to support it. On a road of 10 houses perhaps 1 sells each year, and this isn't enough to produce the monthly trends that we see in the headlines.

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If I've read it right, the government produce two indices and are now considering getting rid of one (I guess the DCLG because its a bit crap). This seems sensible and is not exactly big news.

The other indices are private ones. The Mail seem to be implying the government will ban Rightmove from publishing statistics :lol::blink:

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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