Friday, August 3, 2012

Ramper watch – guess who said this

Average price of a UK home is now £205,309

All of the figures in the latest House Price Watch point to positive annual growth this year with no ‘double dip’ in the forecast. The market is in fact outshining price performance in the first half of 2011 which went on to see price growth of 0.5% for the year as a whole, further dispelling this myth. However, the latest economic figures could still dampen activity in the third quarter. “Growth of 4.7% for the year to date is reassuring and it looks like the long period of price stability seen since early 2010 could be making way for a strong rise in prices this year. (H/T to Imminent_plunge on the forums)

Posted by quiet guy @ 08:51 AM (2070 views)
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12 thoughts on “Ramper watch – guess who said this

  • Friday is the day for the Stuartz Comedy Club performance. His figures are based on five sources. How does he combine them into a single figure? Take one of the sources, Nationwide – their figures show prices 2.6% lower than a year ago, and the price of a ‘Typical home’ as £164k vs Stuartz’ ‘Average price’ of £205k.

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  • So houses in the Uk will continue to be unaffordable for around 40% of the population. At some point the boomers will die off, leaving the later generations to decide how much homes are really worth. Until that moment, the number of transactions will remain 50% off their 2007 highs. I don’t see this as good news for the banks or estate agents.

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  • mark wadsworth says:

    Acadametrics explain this in more detail somewhere on their website – the simple mathematical average is £205,000 and the median is more like £160,000. So comparing or averaging the two is completely meaningless. You might as well say “I pay 40% income tax and my wife pays 20% income tax, so between us we pay 60%”.

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  • He expected to see annual price growth of 3% in 2012 “comfortably achieved”.

    Ho, ho.

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  • This is as severe and harmful a case of fraud that I ever saw or heard of. This, and the other Daily Express type misrepresentation should lead directly to legal proceedings. This is as harmful as wartime sabotage or even terrorism.

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  • near me, “new to market” property for less than it was on market 2 years ago, funny it is the same sellers , they must have sold it to themselves, shame on you Cheshire estate agents which remain nameless Karl

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  • No Tatle tailing Mark! Property Bee round my way still says >£250k asking prices falling by ~10% per annum, less for those under that mark, probably because they are more affordable or something crazy like that. I have noticed that the in “need of modernisation” segment continues to increase month by month as greedy relatives continue to sit on grannys semi believing they can achieve agents asking price that is £20k higher than the last 10 sold prices on the same street. I’d say these houses make up 60%+ of the market now.

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  • So ‘typical’ @1 = median. Hence the difference from ‘average’. The main point though is the house price fall of Nationwide (one of the components of Assetz’s figure) vs Assetz’s house price rise.

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  • …or is it average prices rising because the number of London/SE sales is up while elsewhere the number is down?

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  • House prices rise in the first 6 months of the year. Adjust for seasonality and….

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  • mark wadsworth says:

    Icarus 7 and 8, that’s the general idea. So if central London prices double and everything else remains unchanged, the median is unchanged and average prices go up.

    Interestingly, if you look at BBC average prices, for the whole of the UK, the average price of a flat is MORE than the average price of a semi. This is because semi’s are out in the suburbs where land is cheaper and flats are in city centres where land is more expensive. In particular, most of housing in central London is flats, so while London is only a tenth of the whole population, a lot more than a tenth of flats are in London., so the average price of flats in UK is pushed upwards by central London effect etc.

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  • MW @8 – the ‘average up / median down or unchanged’ phenomenon can happen also if ALL prices are unchanged and central London sales volumes go up while other sales volumes go down – which is probably what’s happened here.

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