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Official house price figures 'overstate' growth, say property experts

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http://www.telegraph.co.uk/business/2017/03/26/official-house-price-figures-overstate-growth-say-property-experts/

The Telegraph reporting that the ONS has overstated growth and is unreliable.The annual rate in December, initially reported as 7.2pc, was scaled back to 5.7pc.

.....

On a another note - there is loads of bearish news lately, I never see it on this site? A quick google returns quiet a few good articles.

 

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29 minutes ago, willie said:

If you see bearish news why not post it?

I didn't really feel it was my place as I haven't made a lot of posts.

I suppose I will post more from this point going forward. I think I assumed if I had seen the news away from this site, someone from HPC will also have seen it and probably have posted it.

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18 minutes ago, Barnsey said:

There's so much it's hard to keep up, or maybe we can't handle things actually going the way of HPC, for then what becomes our purpose?

Part of me feels it might be a few member's raison d'etre for HPI to go on forever (no one in particular - just judging by all the negative articles). If a crash happens there's little to discuss as posters have the outcome they wanted. The news on here does seem incredibly bullish.

It's a great site :wub:, I just wish there was more focus on positive articles (crash pending, etc, etc) and less on negative ones. I know the Housing situation is dire, but I want to come away happy from HPC and not deflated all the time :rolleyes: I know we can't cherry pick news, but there are plenty of reliable sources saying things aren't as rosy as them seem.

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1 minute ago, rantnrave said:

Wonder if there would be any bleating if the ONS figures had been revised upwards by 1.5% instead?

Have they ever revised it up? I'm sure they must have. I can imagine a lot of VIs would kick off if it happened too often.

I was just thinking if a business issues figures to the stock market each month showing growth, then revised them down the next people would be in big trouble for misleading the market.

Shouldn't be any different for the ONS, people are buying based on wrong information.

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Even so an annual increase of 5.7% seems out compared to the other indices - too low/too high?  How do they explain that.  It seems just another index to confuse.

Quote

Capital Economics said the index is “likely to be overstating house price pressures”, partly due to a suggestion that the price of new build homes has surged, at 29pc in the year to January, compared to 5pc for existing homes.

+29% when they were already at crazy levels to start with.  Farce.

It seems clear that the ONS index is there just to manipulate perceptions some more.

Edited by billybong

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