Houses prices up or was that down !

[Simon Dewsberry]

I have radio 2 on in work all day ...... and had hysterics today when the 3 O'clock new annocnced that house prices were up by 0.9% last month according to the Land Registry

THEN

on the four O'clock news DOWN by 0.5% according to the Halifax

Doh..........

Anyone out there tell me if prices are going UP or DOWN ????????????!!!!!!!!!!!!!!!

(I know mine are going UP and the ones i am looking to buy are going DOWN!!!!) and that is all that really matters ..methinks )

The Rodent

[Selkirk]

Halifax base their index on the people who take a mortgage out with them as do Nationwide, this makes it very distorted as some people buy houses without mortgages and plenty through other lenders. I suppose it's the Land Registry that reflects the true pattern but they lag behind, so Rightmove is about as up to date as you can get for the whole market, they use the properties for sale but again it's not entirely accurate because it's sold prices that count. So it's back to the old adage - it's only worth what someone is willing to pay for it.

cheers