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crash2006

Umm Do You Spot The Error

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Mean256155.5556Standard Error28922.29105Median206500Mode#N/AStandard Deviation86766.87316Sample Variance7528490278Kurtosis-0.73757651Skewness0.811057497Range244600Minimum163600Maximum408200Sum2305400Count9

Edited by crash2006

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163600195600Column1188800206500Mean256155.5556197600Standard Error28922.29105294600Median206500408200Mode#N/A366600Standard Deviation86766.87316283900Sample Variance7528490278Kurtosis-0.73757651Skewness0.811057497Range244600Minimum163600Maximum408200Sum2305400Count9

I don't speak maths.

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Are you sure?

......163600.......195600.......188800.......206500......197600.....294600.....408200.....366600....283900

thats what i put into excel.

Edited by crash2006

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yep.

not sure there is an error. as 60 pct of the population live in the south, there are more properties, ergo, a greater weighting to the the south. im not sure its as easy as averaging averages.

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......163600.......195600.......188800.......206500......197600.....294600.....408200.....366600....283900

thats what i put into excel.

If you're adding up the regional averages and dividing by the number of regions, that would only produce the average house price a. by fluke, or b. if each region contained the same number of houses (or house price samples) as the other regions.

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If you're adding up the regional averages and dividing by the number of regions, that would only produce the average house price a. by fluke, or b. if each region contained the same number of houses (or house price samples) as the other regions.
The Federation also produced a regional breakdown of the predicted average price of a house in English regions in 2013:

according to the quote they have taken that into account.

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......163600.......195600.......188800.......206500......197600.....294600.....408200.....366600....283900

thats what i put into excel.

It depends upon where the houses are. There are many more houses in London than anyother city - so the average is skewed by the sheer number of houses in London and the SE.

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As teh monkey would say, we are entering the post production phase of our country's existence. I would wager that this is THE LAST HPI BOOM we will ever see in this country until we hit free energy or aliens come and give us all our own cybernetic rectums.

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If you're adding up the regional averages and dividing by the number of regions, that would only produce the average house price a. by fluke, or b. if each region contained the same number of houses (or house price samples) as the other regions.

Ahhhh, just proves that people like me shouldn't be let loose with a calculator :(

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......163600.......195600.......188800.......206500......197600.....294600.....408200.....366600....283900

thats what i put into excel.

Average for England: £274700

My House: £75000

Average for England excluding my house: £474400

stands to reason, dunnit!

Edited by pppeter

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The figure may be correct as it is almost certainly based on a weighted average of the regional averages to reflect different numbers of properties.

It's not enough to sum up the regional figures quoted, divide by the number of regions and compare it against the quote national figure.

For example suppose you have a country of two regions:

In region A you have 1 million houses worth an average £100,000

In region B you have 1 house worth an average £200,000

Does that mean the average house price is (£100,000 + £200,000)/2 = £150,000? No, its much closer £100,000.

The average (weighting for property numbers in each region) would be calculated as :

(1,000,000 * 100,000 + 1 * 200,000) / (1,000,000 + 1).

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  • 396 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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