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Average House Price Could Be Much Lower Than Currently Believed, Say Statisticians

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The average price of buying a house in the UK might be much lower than is currently believed, according to the nation’s statisticians.

An overhaul of how the Office for National Statistics (ONS) calculates house price figures is expected to show that the typical home costs much less that previously thought, bringing the official numbers more in line with those published by other bodies.

The ONS’ new measure of average house prices is due to be published in full later this year, but early estimates have revealed that the difference could be as great as £37,000.

Who said something about Statistics earlier?

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Interesting a new index. Also expected later in the year is the CPIH report (after the mess last time where it had to be moved out of national statistic status) . I wonder if they'll move away from CPI as the official measure of inflation.

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I thought this was a daily mash headline.

Early April Fool?

New methodology, but only calculated up to 2011. Surely an index of how expensive houses were, not how expensive they are! :lol:

Thanks for nothing ONS ;)

tumblr_n4gwqtO0jH1r8lobao1_500.gif

[Edit: A million typos in every post tonight, I'm going drinking!]

Edited by Idlewild

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"Statistics are like mini skirts. They give you good ideas but hide the most important bit"

As a woman and a feminist...

That's very funny.

Impressed that when I Googled that phrase 3 hours after it was written it was atributed to this forum. Respect.

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As a woman and a feminist...

That's very funny.

Impressed that when I Googled that phrase 3 hours after it was written it was atributed to this forum. Respect.

Although I enjoy the thought that a woman is impressed by something I've said and it would be tempting to pretend that I'm clever and witty, I cannot take any of your respect, other than the respect you should naturally give me as a fellow human being that is, because I stole it from an enigmatic and eccentric former Aberdeen FC manager. If you had googled the phrase minus quotes you'd have found the phrase creator (and realised that I'm a typical man who doesn't listen or remember things very well):

"Statistics are like mini-skirts .. they give you good ideas but hide the most important parts." Aberdeen manager Ebbe Skovdahl in 2001 when hearing that Arild Stavrum had more shots on target than Henrik Larsson (star Celtic striker)

What he meant in that case was that Larsson only needed one chance, and he would usually score. He was saying his striker was pish, in other words. I think anyway...

Edited by fluteroop

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Ok my take on this having completed yesterday on our property sale.

Only the best property in each category probably sells so those that don't sell never make the index. Every house needs total legal compliance to sell from chancel repair indemnity to indemnity for the slightest internal alteration to rights of way. Houses on the environmental agency flood plan will similarly struggle to sell.

Of course there are ''projects'' that will sell. But there lies the problem for the stuff in between. Buyers are absolutely picky and homes under the Hammer have highlighted the fact that if you have a coloured bathroom suite, artex, lining paper, old cathedral style oak kitchen units...you may as well go top yourself for surely eternal damnation will follow.

In view of all the above and the fact houses are total s%5t anyway I will try and stay out of the market as long as the market permits but will keep my eye on the tsunami ripple spreading north like a cancer because of greedy socialist boomers like the late Michael Meacher, Tony Blair and Derek Hatton loading up on property like chavs on heat. Yes I know Blair is really right of Mussolini.

Edited by crashmonitor

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