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jackpot06

What Is Lr Data? Scuse My Ignorance

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But I want to be informed --I read this site avidly ,I sold to rent in Poole in 2005 ,and it been an awkward time for me --I have stoutly resisted pressure to buy and am waiting and reading in the meantime ---I called the BBC over the Eddie George revelations that interest rates had been artificially kept low etc and welcome the chance to have another moan at the BBc .

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I believe it's data which shows the actual price that all properties have sold for over a period of time, making it much more pertinent than Rightmove (asking prices) or Halifax/Nationwide which are limited to properties that they lend on for example.

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Nationwide, Halifax, etc are fixed figures (asking prices, not sold prices) by the banking Cartel, to get people to believe that prices only go up (to get more people in debt, & thus, boost bank profits- Vested Interest in a Nutshell)

The Land Registry Registers prices are those that the house actually sold for- although there is a delay/ lag of around 3 months IIRC for the figures. As such, it's the most reliable source for the price trends.

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I suppose we should add that LR figures don't take into account "cashback" offers, paid deposits, free ferrari with each newbuild etc offers so in fact even LR figures can be artificially high.

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Land Registry compile a sold price dataset from the sales registration forms returned by solicitors after the completion stage of property transactions. This gives LR a near complete sample of sales in England and Wales, and therefore authoritative, but the information collected is also quite limited - it (broadly) includes the price, a type classification, the address, and the date. Two additional problems follow from this type of sampling: first, the forms take a long time to reach LR and be counted, meaning that the data is often hugely incomplete for recent months (we recently saw that the data published on the BBC website for the last quarter had only about 25% of the total samples/transactions); and second the data is lagged, meaning that it relates to a point in the transaction process that’s towards the end, rather than towards the beginning, and therefore somewhat detached from the current state of the market (BoE says about 15 weeks on average.)

Anyway, this all leads to the sold prices data set – LR then process it to produce a range of different products: (1) it’s sold to house price websites for repackaging/republication (BBC local stats, individual sold price lookup); (2) it’s used to produce series containing simple average house prices, (very limited/non-existent mix-adjustment) and often distributed to other agencies; and (3) it’s used with a nice new Repeat Sale Regression (RSR) approach to the mix-adjustment problem to produce the new flagship LR House Price Index (LR HPI).

Other indices:

Rightmove sample asking prices.

Halifax and Nationwide sample at the mortgage approval stage, hedonic mix-adjust.

CLG (DCLG, formerly ODPM) sample at the mortgage completion stage, hedonic mix-adjust.

Financial Times HPI – composite index, blends LR and others to address the timeliness problem.

Edited by spline

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