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Realistbear

New Government Data Shows H P I Is Up 3.7% In May

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http://uk.biz.yahoo.com/08072008/325/house...-7-percent.html

Tuesday July 8, 09:47 AM
House prices up 3.7 percent in May
LONDON (Reuters) - House prices
rose 3.7
percent on a year ago in May, after a
4.9 percent rise in April
, government figures showed on Tuesday.
The Department for Communities and Local Government said the average house price stood at 218,151 pounds in May.

This despite builders on the brink of receivership due to plunging sales and prices, despite a 50% drop in new mortgage lending and despite falling prices from one end of the country to the other. Is this data mean't to reassure the electorate that Gordon is doing a good job and maintaining inflated house prices? IMO, it is reminiscent of Stalin's tractor statistics. Embarassing, to say the least.

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RB, I wish you weren't so cynical.

Gordo's 5-year plans (eg. tractor production, feckless public-sector non-job creation, etc) are always well-managed and superbly executed. I have no doubt that these figures are as reliable and trustworthy as the inflation figures.

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What the hell? Is this a joke?

Anyone know where the official Department for Communities and Local Government website with these figures on is?

Either these numbers are 12-months out of date or Hazel Blears and her department were sniffing glue when they compiled them.

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I think these figures look very similar to the Haliwide figures of 3 or 4 months ago, which is only to be expected since they are using completed sales rather than mortgage approvals. By the end of the year these figures will be as bad as the others.

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Either these numbers are 12-months out of date or Hazel Blears and her department were sniffing glue when they compiled them.

Yes house prices are falling and this will continue to slow down the rate of growth but we still expect houses to be higher over the course of the economic cycle. It's the golden rule. </blears>

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Yes house prices are falling and this will continue to slow down the rate of growth but we still expect houses to be higher over the course of the economic cycle. It's the golden rule. </glue>

Fixed.

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Yes house prices are falling and this will continue to slow down the rate of growth but we still expect houses to be higher over the course of the economic cycle. It's the golden rule. </blears>

Wow, higher over the economic cycle of say 15 to 20 years. Hey she might be right for once in her life, but isn't that just called inflation?

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Broons 'economic cycle' was made in the far east, the gears are broken the brakes don't work and the saddle fell off a couple of years ago.

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http://uk.biz.yahoo.com/08072008/325/house...-7-percent.html
Tuesday July 8, 09:47 AM
House prices up 3.7 percent in May
LONDON (Reuters) - House prices
rose 3.7
percent on a year ago in May, after a
4.9 percent rise in April
, government figures showed on Tuesday.
The Department for Communities and Local Government said the average house price stood at 218,151 pounds in May.

This despite builders on the brink of receivership due to plunging sales and prices, despite a 50% drop in new mortgage lending and despite falling prices from one end of the country to the other. Is this data mean't to reassure the electorate that Gordon is doing a good job and maintaining inflated house prices? IMO, it is reminiscent of Stalin's tractor statistics. Embarassing, to say the least.

What twaddle...must be the 'experimental methodology'

See: http://www.home.co.uk/guides/house_prices_indices/dclg.htm

I liked the 'verdict' too.

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Verdict

This is an experimental index that tends to give an optimistic picture of the market. Its information can also be out of date as it is based on completed mortgage deals, which can take months to process. Nevertheless it is still a useful addition to the wealth of information about house prices.

:lol:

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Guest Shedfish

just shows what twaddle the government stats are. it should be clear to everyone which direction things are heading, and have been for some time.

the only way this positive number could be achieved is by only recording the price of houses that went up, and excluding those that didn't

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The Department for Communities and Local Government said the average house price stood at 218,151 pounds in May

.

It seems that the average given in the latest NuLabour stats virtually matches the same information given several months ago by the LR:

http://news.bbc.co.uk/1/shared/spl/hi/in_d...html/houses.stm

Average Cost: £218,112

Detached: £342,794

Semi-detached: £197,416

Terraced: £173,858

Flat: £200,344

Change in last quarter:

Down 1.87%

Change in last year:

Down 3.56%

Sales: 167,035

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

The average remains virtually the same yet the prices are FALLING in the LR report which suggests that the quotient used by Blear's office has been extrapolated to the first line of the moving average which has been subtracted and then multiplied by the previous running average and not subtracted from the first figure. Thus, NuLabour have shown the market continuing to rise when the opposite is, in fact true. :P

Edited by Realistbear

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This is fantastic as it's educating the sheeple how corrupt the goverment has become and it's associated propaganda outlets.

Maybe people will wake up to the other big lies

1. Inflation

2. Immigration

3. Unemployment.

My drug pusher told me crack is good for you and helps you loive longer :lol:

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It's based on completions, which means it lags Haliwide by 3 months or so.

Not long ago the Haliwide stats were being derided as hopelessly biased and DCLG was regarded as far more trustworthy. Now Haliwide has started showing large falls we seem to be giving them the benefit of the doubt, whilst DCLG is suddenly beyond the pale. Let's stop slagging off statistics because they don't tell us what we like to hear. It does much to damage this site's hard-earned credibility.

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It's based on completions, which means it lags Haliwide by 3 months or so.

Not long ago the Haliwide stats were being derided as hopelessly biased and DCLG was regarded as far more trustworthy. Now Haliwide has started showing large falls we seem to be giving them the benefit of the doubt, whilst DCLG is suddenly beyond the pale. Let's stop slagging off statistics because they don't tell us what we like to hear. It does much to damage this site's hard-earned credibility.

NuLabour are telling the public, whom they assume to be ignorant, that HPI is still rising. No warnings are given to the average schmuck that the data is lagging or otherwise seasoned, adjusted or manipulated. All it does is sow confusion as the public have been hearing nothing but declines and then they see a report that shows HPI at its highest ever! I mean, really, UP 4.9% in April and up another 3.7% in May!! Annualised and you are at record breaking increases.

Edited by Realistbear

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NuLabour are telling the public, whom they assume to be ignorant, that HPI is still rising. No warnings are given to the average schmuck that the data is lagging or otherwise seasoned, adjusted or manipulated. All it does is sow confusion as the public have been hearing nothing but declines and then they see a report that shows HPI at its highest ever! I mean, really, UP 4.9% in April and up another 3.7% in May!! Annualised and you are at record breaking increases.

I'd agree with you - if there was actually evidence that NULab were responsible for the way in which the statistics were presented. The quote you started this thread with was from a Reuters article. It appears that the poor reporting was down to the Reuters writer, which has since been corrected - if you look at the later more comprehensive Reuters article here, it's a lot more bearish, specifcally stating that the survey is lagging and talks about a 'sharp downturn'.

All other media seem to be reporting a drop as well. The DCLG press release here appears to be rather factual and makes clear that the y-o-y figures are down from the previous month.

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I had hoped that at some point someone on this thread would have bothered to check and seen that these are YoY, not MoM figures. The MoM was -0.3%

Reporting YoY as the 'figures for the month' is an Americanism, and this isn't the first time someone here has posted in a state of confusion based on not knowing that.

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I had hoped that at some point someone on this thread would have bothered to check and seen that these are YoY, not MoM figures. The MoM was -0.3%

Reporting YoY as the 'figures for the month' is an Americanism, and this isn't the first time someone here has posted in a state of confusion based on not knowing that.

Thank you jdc! The comments on this thread were driving me mad.

Mom down. Yoy down. Move along, nothing to see here.

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  • 401 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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