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sam

Is There Any Kind Of Regulation With The Indicies

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I occasionally pop into Housepricecrash to see what is happening with the property market, i think in the year that i have been mostly lurking that i have seen most subjects covered, even over covered (o;

The one thing that does suprise me on subjects concerning property, is the very little coverage to the validity to the indicies. The property market is a huge business with many sub branches , the money involded runs into the Hundreds of Billions of pounds.

It is the biggest financial purchase the majority of us ever make, yet we blindly believe whatever the likes of Halifax or Nationwide tells us, even the Bears on this site go on what they say the majority of the time.

These people have the power to ramp the market(i am not suggesting they do though), is there any kind of watchdog or policing that makes sure that this could never happen.

It just seems strange that we have these mickey mouse operations like Hometrack and Rightmove feeding us monthy on the BBC with whatever information they want , and third rate presenters like Kirsty(barely out of nappys) Allsop the main voice on what is the UK's largest going concern

Sam

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I occasionally pop into Housepricecrash to see what is happening with the property market, i think in the year that i have been mostly lurking that i have seen most subjects covered, even over covered (o;

The one thing that does suprise me on subjects concerning property, is the very little coverage to the validity to the indicies. The property market is a huge business with many sub branches , the money involded runs into the Hundreds of Billions of pounds.

It is the biggest financial purchase the majority of us ever make, yet we blindly believe whatever the likes of Halifax or Nationwide tells us, even the Bears on this site go on what they say the majority of the time.

These people have the power to ramp the market(i am not suggesting they do though), is there any kind of watchdog or policing that makes sure that this could never happen.

It just seems strange that we have these mickey mouse operations like Hometrack and Rightmove feeding us monthy on the BBC with whatever information they want , and third rate presenters like Kirsty(barely out of nappys) Allsop the main voice on what is the UK's largest going concern

Sam

Totally agree! The spin needs to be counter-spun to ensure equal representation of the opposing views. As it stands, the public are being fed with pro-VI "news" and it is often extremely misleading. No doubt why HPC.co.uk was begun. We just need it to go mainstream.

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I occasionally pop into Housepricecrash to see what is happening with the property market, i think in the year that i have been mostly lurking that i have seen most subjects covered, even over covered (o;

The one thing that does suprise me on subjects concerning property, is the very little coverage to the validity to the indicies. The property market is a huge business with many sub branches , the money involded runs into the Hundreds of Billions of pounds.

It is the biggest financial purchase the majority of us ever make, yet we blindly believe whatever the likes of Halifax or Nationwide tells us, even the Bears on this site go on what they say the majority of the time.

These people have the power to ramp the market(i am not suggesting they do though), is there any kind of watchdog or policing that makes sure that this could never happen.

It just seems strange that we have these mickey mouse operations like Hometrack and Rightmove feeding us monthy on the BBC with whatever information they want , and third rate presenters like Kirsty(barely out of nappys) Allsop the main voice on what is the UK's largest going concern

Sam

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The land registry and ODPM stats are the official benchmark.

Anything else is merely speculation based on either a limited sample or only on asking prices i.e. Rightmove, Hometrack, Nationwide etc.

- Pye (Property Speculation Ninja :ph34r: )

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Everyone has their opinion as to what will happen to property in the next few years, there are now scores of sites on the internet that predict a crash, yet i cannot think of one person in the mainstream that speaks for us, surely we are to big to just ignore, has anyone the balls to fight our case.

BBC and ITV are swamped with pro HPI propoganda, i cannot think of one person(big name) that is our voice.

Sam

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They have disclaimers:

Halifax:

The Halifax House Price Index is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time for regulatory or other reasons. Persons seeking to place reliance on the indices for their own or third party commercial purposes do so at their own risk.

Nationwide:

The Nationwide Monthly House Price Index is prepared from information which we believe is collated with care, but no representation is made as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the whole or any part of the Index at any time, for regulatory or other reasons. Persons seeking to place reliance on the Index for their own or third party commercial purposes do so entirely at their own risk. All changes are nominal and do not allow for inflation.

They can basically publish whatever they want. This is one of the reasons I disagree with some of the media reporting, such as the BBC. The BBC should carry their disclaimer.

Also, I think Righmove should have a similar disclaimer as their methodology is not clear (see Rightmove thread).

Edited by Jason

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They have disclaimers:

Halifax:

The Halifax House Price Index is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time for regulatory or other reasons. Persons seeking to place reliance on the indices for their own or third party commercial purposes do so at their own risk.

Nationwide:

The Nationwide Monthly House Price Index is prepared from information which we believe is collated with care, but no representation is made as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the whole or any part of the Index at any time, for regulatory or other reasons. Persons seeking to place reliance on the Index for their own or third party commercial purposes do so entirely at their own risk. All changes are nominal and do not allow for inflation.

They can basically publish whatever they want. This is one of the reasons I disagree with some of the media reporting, such as the BBC. The BBC should carry their disclaimer.

Also, I think Righmove should have a similar disclaimer as their methodology is not clear (see Rightmove thread).

This is the point i am trying to make, in the real world 99% of the population do not have a clue about the disclaimer, the nationwide or Halifax say that house prices have gone out 1% that month, and thats what the public believe, after all the BBC said it also.

If the BBC are going to put out free adds for the VI's, they should also put out a warning as well(disclaimer).

Sam

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  • 301 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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