Monday, June 27, 2011

YoY 3.9%, MoM 0.1%

House prices edge lower in June - Hometrack

"House prices in England and Wales have edged lower this month to show their biggest annual fall since October 2009, a monthly survey from property data company Hometrack showed on Monday".

Posted by alan @ 07:56 AM (3532 views)
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13 thoughts on “YoY 3.9%, MoM 0.1%

  • mark wadsworth says:

    An index showing YoY and MoM falls looks very reliable to me. I must start taking Hometrack more seriously, top statisticians that they are.

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  • “Hometrack’s data is based on a monthly survey of estate agents and surveyors, asking for average achievable prices for different categories of property.”

    Must be reliable then!

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  • Alan!!! bad bad boy!! you forgot the minus… corner of the classroom for you … and stay behind for 100 lines “i must remember to put the negative sign in”

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  • Yes that headline gave me a shock aswell, made me read the article though !

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  • sibley's b'stard child says:

    Meh, another meaningless report albeit one which at least ‘reliably meaningless’.

    The only guff that Hometrack reports of any worth is that which provides data on % of asking price achieved, average time on market etc:

    June’s isn’t out yet, mind.

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  • Over on the EAT site, this data set is being presented as a ‘turnaround in the market’!

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  • -0.1% is okay, especially for this time of year, though I am a bit disappointed.

    I still expect certain vi’s to claim that the housing market is very resilient, and that -0.1% is very small given the challenges facing the UK economy……

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  • Sorry about the minus sign omission…I’ll keep away from anything mathmatical for a few days and only post funny stories.

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  • mark wadsworth says:

    SBC @ 5, their average time on market of under 10 weeks looks miles off to me, it’s more like 6 months, surely? And their % asking price acheived is guff as well — is that % of the initial ridiculous asking or % of the price after it has been dropped three times?

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  • sibley's b'stard child says:

    Hang about MW, you’re not possibly suggesting that their methodology may be, erm, subject to falsification?

    ‘The index was first published in mid 2000 and the results are based on the answers to a standard questionnaire of 11 questions…’

    Next thing you’ll be having the temerity of suggesting that EAs are not the paragons of all that is right and good. Tsk.

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  • mark wadsworth says:

    SBC 10, not so much “falsified” as “completely meaningless”. I bought and sold two houses and four flats between 1993 and 2008 and from instructing estate agent to banking the cheque always took two or three months, that’s normal. So for them to say average time to sale is under ten weeks is clearly la la land.

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  • Preparetodive says:

    MW @ 11

    I think they mean the time from being instructed to first offer being accepted. Then ignoring pull-outs, chain collapses, and the real interval between being instructed and getting the offer that actually sticks.

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  • Preparetodive says:

    Ooh, I love this from their report (I live here) “Prices in the west Midlands fell by as much as -0.5%”

    But here’s the paradox. The WM is still the country’s primary manufacturing centre, with manufacturing still being the largest employment sector in many LAs. Manufacturing is supposed to be having a renaissance, so why is there particularly weak demand for housing?

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