Friday, February 8, 2008

Oh god, more reports……

House price weakness spreads to London

UK house prices are now lower than they were three months ago and the weakness shows signs of spreading to London which has appeared resilient up until now, according to the latest FT House Price Index. On a monthly basis, house prices in England and Wales rose by 0.1 per cent, according to Acadametrics, the research firm which compiles the index. But previously reported rises in November and December have been revised downward, leaving the average house price at £229,625 against £230,284 in October.

Posted by hpwatcher @ 10:03 AM (550 views)
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4 thoughts on “Oh god, more reports……

  • Verymeanreversion says:

    What a great trick, revise past months data down just enough to make next months look positive.

    House prices do in fact, always go up. I am now officially a bull (seasonally adjusted and relative to the previous months revised bearishness)

    VMR.

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  • Yay – there’s that 0.1% again. I wonder if we should do a histogram on how often values appear in the data to see if there is any peak around 0.1%.

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  • Incidentally – their 0.1% rise last month somehow morphed into a 0.2% fall – you have to credit them for finding ways to keep the bad news buried. Must have taken a leaf out of New Liebour’s book – “Smoke, Mirrors and Deception”

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  • From memory, the best revision of figures was by the CML for repossessions from 2005-2006. I may get the numbers wrong but the headline was for a 30ish % rise in repos. About 17000 to 22500ish. Now, what was hidden (ish) in the article was the 2005 figure had been revised upwards from 14000 ish. Without the revision the % change YonY would have been a 60% rise. Am I overly suspicious, or not?

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