statscat Posted September 5, 2004 Share Posted September 5, 2004 I've been reading this board for a long time and it seems to me that often the figures that we see lack granularity, so I am going to make a suggestion. Everyone needs to pick 4 estate agents that deal within 1 to 3 miles of their home. Gather information on the price of houses, the number of bedrooms etc, updating the information weekly. This will give an indication of the average asking price in the area, but also an indication of how long houses are being advertised for, plus if reductions or gains in value occur then these should also be trackable. I started collecting data today (better late than never) and will keep you updated, the first thing that I notice is that the average house price by estate agent has a range of 60k, which is pretty hefty to say the least. Anyway happy data collecting Quote Link to comment Share on other sites More sharing options...
Mark E. Smith Posted September 5, 2004 Share Posted September 5, 2004 Why not just use the ODPM figures? Sure they may be outta date but they sure have granularity and do not using agents asking prices which have always meant many different things depending... Quote Link to comment Share on other sites More sharing options...
statscat Posted September 5, 2004 Author Share Posted September 5, 2004 ODPM data isn't published regualrly enough, and it couldn't provide anecdotal evidence of "reductions" of asking values as quickly as this method would, not for instance should the bulls be correct anincrease or levelling in the asking price. Now admitadely the asking price data does have it defects because people may well accept lower offers (or indeed higher) that skew the stats; If we are on the cusp of a correction then official data won't start to show it for at least two quarters, this at least provides an indicator to the more encompassing stats by the land registry etc. Quote Link to comment Share on other sites More sharing options...
Mark E. Smith Posted September 5, 2004 Share Posted September 5, 2004 Yeah I guess, I thought everybody accepting prices were slipping though. Whether they ll slip loads or not wont depend on the short term, so I still reckon the ODPM will influence other people more and reflect the market. Quote Link to comment Share on other sites More sharing options...
statscat Posted September 5, 2004 Author Share Posted September 5, 2004 People have and still do state that reductions are happening in their area, but these have been "a mate down the pub" type acertations. TTRTR recently requested verfication of a supposed 33% reduction which required verfication, the statement didn't I believe after closer inspection hold up. I'm prepared to collect the data as I believe this to be the easiest way for me to judge whats happening where I live in as real a time as is possible for me to do so, andfingers crossed it should provide some interesting data that could point to the type of result to start expecting from more traditional sources. Quote Link to comment Share on other sites More sharing options...
Topher Bear Posted September 5, 2004 Share Posted September 5, 2004 I started doing exactly that using the local free papers massive property section. just when it got interesting wiht lots of No Chain, Unexpectidly Re-available, New Istruction the paper stopped coming! Anyway, this only deals with Asking prices, and they are a fickle value which represents more the sellers view of the market rather than the real situation. Topher Bear Quote Link to comment Share on other sites More sharing options...
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