ONS index is made up ******.

[TheCountOfNowhere]

That is some revision !!!

 

[“Nasty Piece of work”]

Similar fiction to ****’s Testing numbers.

[Timm]

Is this the old Acadametrix? Because that was indeed an "index of indexes" with added guesses. 

Until the Land Registry data comes in, when it becomes increasingly factual.

Retrospectively. 

 

EDIT: No. it's not acadametrix. 

Edited September 16, 2020 by Timm

[Pebbles]

This is land registry data every single data point is published and you can make your own index from it (download the CSV file and make your own index). It is about as gold standard index as you are likely to get.

[the_duke_of_hazzard]

31 minutes ago, Pebbles said:

This is land registry data every single data point is published and you can make your own index from it (download the CSV file and make your own index). It is about as gold standard index as you are likely to get.

This. The ONS is a world-beating organisation.

I once looked into how the CPI/RPI figures were created when people on here said they were fiddled. The transparency and thoroughness of the whole thing blew me away.

[dugsbody]

20 minutes ago, the_duke_of_hazzard said:

This. The ONS is a world-beating organisation.

I once looked into how the CPI/RPI figures were created when people on here said they were fiddled. The transparency and thoroughness of the whole thing blew me away.

For what it's worth, I don't think it is fiddled, but I also don't think that house price inflation is correctly calculated. They base it on imputed rents. Whereas the actual cost to own a house over a lifetime has gone up by far more than that.

[TheCountOfNowhere]

1 hour ago, dugsbody said:

For what it's worth, I don't think it is fiddled, but I also don't think that house price inflation is correctly calculated. They base it on imputed rents. Whereas the actual cost to own a house over a lifetime has gone up by far more than that.

No one said it was fiddled

 

They ate publishing incomplete data which the MsM use to ramp house prices. 

They're very quiet on their revisions though. 

NW are very guilty of this when i used to look. 

 

 

[dugsbody]

16 minutes ago, TheCountOfNowhere said:

No one said it was fiddled

Sorry, I was replying the the duke who mentioned the word fiddled and was talking about CPI/RPI, not the housing index. But he's correct, the data is available from the land registry, available for anyone to calculate their own index if they don't trust ONS.

Here's a useful site that uses the data:

https://houseprices.io

Edited September 16, 2020 by dugsbody

[stop_the_craziness]

On 16/09/2020 at 22:00, dugsbody said:

Sorry, I was replying the the duke who mentioned the word fiddled and was talking about CPI/RPI, not the housing index. But he's correct, the data is available from the land registry, available for anyone to calculate their own index if they don't trust ONS.

Here's a useful site that uses the data:

https://houseprices.io

Houseprices.io  has started to get really interesting in the last few months for my area.  Almost any house that is green (profit made) was last sold prior to 2016.  Anything where the last sold date is 2016 or later seems to be red (profit not made).   I first wanted to buy in 2016 and thought that prices were so crazy they had to be close to the top if not the actual top.  Four years on those thoughts seem to be crystallising into mathematic facts.

[Bemmymate]

4 minutes ago, stop_the_craziness said:

Houseprices.io  has started to get really interesting in the last few months for my area.  Almost any house that is green (profit made) was last sold prior to 2016.  Anything where the last sold date is 2016 or later seems to be red (profit not made).   I first wanted to buy in 2016 and thought that prices were so crazy they had to be close to the top if not the actual top.  Four years on those thoughts seem to be crystallising into mathematic facts.

What does it mean if it's not red or green?

[dugsbody]

11 minutes ago, stop_the_craziness said:

Houseprices.io  has started to get really interesting in the last few months for my area.  Almost any house that is green (profit made) was last sold prior to 2016.  Anything where the last sold date is 2016 or later seems to be red (profit not made).   I first wanted to buy in 2016 and thought that prices were so crazy they had to be close to the top if not the actual top.  Four years on those thoughts seem to be crystallising into mathematic facts.

Agree, I'm noticing similar. However, note that the "red" can still be nominal increases. They're marked as red if they are lower than the inflation adjusted previous sale price.

[This time]

20 minutes ago, dugsbody said:

Agree, I'm noticing similar. However, note that the "red" can still be nominal increases. They're marked as red if they are lower than the inflation adjusted previous sale price.

 

They're slightly different reds - the inflation adjusted loss is a more orangey red.