Tuesday, March 11, 2008
Where do the statistics come from?
Since we will probably get even more statistics than usual about house prices falling or not it is worth understanding what the statistics mean and where they come from. "Land Registry www.landreg.gov.uk is based on a large sample of completed sales so is regarded as the best. But as house purchases routinely take three months to complete, it is slow to appear so is not helpful if the market is volatile or just on the turn. Rightmove www.rightmove.co.uk is new and based on asking prices, so pushy estate agents and greedy vendors can make the market appear more bullish than it is. But it gives a thorough snapshot of what sellers hope to get- even if they fail."