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Stu007

Hometrack Scrapping Their National Index

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http://www.estateagenttoday.co.uk/1396-hometrack-scraps-old-style-house-price-index

"Hometrack’s monthly house price index for England and Wales, made up of data from between 2,000 and 3,000 agents, has been scrapped after 14 years.

It now transpires that the index results issued last week for the month of September will be the last; instead, Hometrack will issue an index looking specifically at cities."

So Hometrack, the most forward looking index are doing away with their national index and replacing it with 20 city indices.

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http://www.estateagenttoday.co.uk/1396-hometrack-scraps-old-style-house-price-index

"Hometrack’s monthly house price index for England and Wales, made up of data from between 2,000 and 3,000 agents, has been scrapped after 14 years.

It now transpires that the index results issued last week for the month of September will be the last; instead, Hometrack will issue an index looking specifically at cities."

So Hometrack, the most forward looking index are doing away with their national index and replacing it with 20 city indices.

interesting timing!

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COmedy gold.

We all know what's coming next.

However, the official government ONS index will only show prices falling slightly.

Who needs facts when made up numbers are better

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I'm not sure which cities the other 19 are, but I can't wait to see Londons at the end of the month.

Interesting. Is this driven by the large chains? The article reads like rows between agents presumably on how to report market directions. Has the market turned I wonder?

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COmedy gold.

We all know what's coming next.

However, the official government ONS index will only show prices falling slightly.

Who needs facts when made up numbers are better

What's coming next? House price falls, surely!

Is the worm well and truly turning?

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House price falls, surely!

I'll take the other side of that - what's coming next is the amazing reality that prices rise in every city - even when, had the old index have been maintained, by its old methodology, it would have shown national falls. ;)

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I only just started reading them a couple of months ago! I think soemone posted on here the graph showing the percentage of postcodes with rising prices and I thought it was really interesting. In the last few months it's collapsed almost to zero like it did in 2008.

EDIT: This graph - from April - now almost at zero on both London and RoC

article-2614722-1D66711400000578-747_634

Edited by oldsport

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I caught this story today on newsnow.co.uk having not seen it on housepricecrash.

Surely this is a way that, when the figures don't represent what the powers that be want you to believe, they can be re-interpreted it in a way which manipulates the sheeple?

this is a blatant case of (by the financial sector and V.I.'s): "when the figures don't reflect what is beneficial to us, we will change how they are measured"

Grrrrrrr.

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You mean falls in London causing the national index to fall....but rises in other cities of the uk? Careful, you'll get people shouting at you, you know.

EDIT: September report and link to more:

http://www.hometrack.co.uk/our-insight/monthly-national-house-price-survey/zero-house-price-growth-recorded-in-september-for-first-time-in-19-months-according-to-latest-hometrack-national-housing-survey

No. In that survey the rest of the country has also collapsed. London is at -0.1 (down from +90 in February) - but the rest of the country is also down to only +8 (down from +50 in April).

Edited by oldsport

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