Comments: Two in a row from Halifax

I wish they would just hand all their figures to an independant body, so many indicies predicting different trends, it makes the reports look a complete waste of time - the only one that has a credible stand point is the Land Registry in my opinion, the others just aren't worth looking at.

That said, I might take the figures from Haliwide and produce my own report, it'll be as insightful as the all rest I think!

Posted by Dan at November 8, 2007 12:45 PM

There are significant problems with the new land registry monthly index as well i'm afraid. It uses a technique which examines repeat sales i.e. where a particular house appears in the data set more than once. This would normally be ok but because the LR dataset only goes back to 2000 it means that there is a significant bias plaaced on houses that have been sold twice in a short space of team, which are often houses which have been "done up" and had money spent on them, therefore the price rises do not actually reflect what is happening in the market.

The quarterly old LR survey was a simple straight-through average of all transactions in the quarter, and that was a pretty good methodology, but I'm not sure if they still produce it anymore.

All the indices have problems to be honest.

Posted by Minh at November 8, 2007 05:33 PM
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