Sunday, July 27, 2008

It’s carnage – big falls across the board

Quarterly report out now

London down 4.3% on the quarter, 16.1% annualized. South East down 6.4% QoQ, 23.3% annualized. East Midlands down 7.2% QoQ, 25.9% annualized. The North down 9.3% QoQ, 32.4% annualized. Northern Ireland down 14.6% QoQ, 46.9% annualized. But hey, the Isle of Man is still rising!

Posted by little professor @ 10:50 PM (1423 views)
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8 thoughts on “It’s carnage – big falls across the board

  • mark wadsworth says:

    Wow, I didn’t know they did these.

    I”m looking forward to the July Haliwide surveys.

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  • Scotland’s immunity seems to be wearing off. Quarterly drop of 4.5% Annual drop of 2.1%

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  • Isle of Man isn’t correlated with the rest of the UK. They have their own government and their own taxes. Their chancellor is running a budget surplus (whereas the UK has a huge deficit). They have no capital gains tax, no stamp duty, and a top rate of income tax of just 18%.

    On the negative side, they face the same credit crunch as the rest of the world, and a relatively high dependence on financial services. If the Isle of Man has to return to a life of agriculture and fishing then house prices are bound to fall significantly!

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  • Does “annualized”[sic] mean “change in monthly mean over one year” or is it a special word meaning “using clever maths to deceive”?

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  • I noticed that the average annual earnings for Greater London in 2007 was £49,728 (full-time adult males). Despite all those earning very large salaries in London, I am still surprised by how high this figure is, as it is a decent white collar wage.

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  • “I noticed that the average annual earnings for Greater London in 2007 was £49,728 (full-time adult males) I am still surprised by how high this figure is, as it is a decent white collar wage.”

    Eh? Ahhh:

    “Source: ONS Annual Survey of Hours and Earnings: Full-time males on adult rates, who have been in the same job for more than a year. Mean annual average earnings.”

    So what they do is they remove:

    Women
    Part time workers
    People in their job less than a year
    Then average out over the entire career of the remaining sample

    Wow, that’s a selective statistic, and is as such meaningless for the pruposes of what they are trying to show.

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  • Maihem,

    Annualised (not with a zed, as we’re not dumb yanks)

    is simply a period value multiplied by the number of period in a year

    Annual percentage rate

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