Wednesday, December 8, 2010
One index, one standard?
The UK's obsession with property has spurned a plethora of house prices indices, each claiming to be a definitive account of the nation's housing market. But with each giving widely differing pictures of the state of the housing market, consumer groups are questioning their validity. The Office for National Statistics (ONS) appears to agree. It is investigating what it called the "coherence and comparability" of house price indices after a number of people confessed being confused by the data.