Blog

UK House Prices Infographic, The Real Story

UK House Prices Infographic, The Real Story
Posted on October 17, 2011 by editor
Posted in Economy News, Estate & lettings Agents, UK Property Market Comment Tagged , , , , ,

This morning I saw a nifty info graphic produced by Towergate ( who wrote for us here on this blog a few months ago.) Now they say a picture tells a thousand words, BUT, an info-graphic is only as good as the data source used, same as any article or media story. Whilst I like the idea of using this type of device to show people information, this particular one has a major flaw. ( Sorry Towergate chaps!)

So I decided to get the real data and make my own so you can compare the two for the real house price picture. Now, what do we know about house prices? We know that they are made up of several indices- ( read this blog if you want to know more about that. ) The stats used for the original graphic were from: RightMove, Financial Times, BBC and MousePrice. If I was searching real house price data I would not be using those sources.

  1. RightMove: Publish their own web traffic data on how much property is on the market for, plus house sold prices, which is often conflicting data.
  2. BBC: Well they are just media and will spout what they are told by the big players.
  3. Financial Times: Tends to report whatever Halifax or Nationwide put out in the main, which fluctuates monthly due to their own sales/mortgage figures.
  4. MousePrice: Yes, can be a good rounded source of information.

However, I would prefer to use Land Registry data in this case because it’s an annual comparison of actual SOLD prices not other peoples web traffic stats or fluctuating values from agents etc. With that in mind, here is what the picture REALLY looks like. The upshot, is that average sales volumes are down from 54,650 per month last year to 49,785.

Here are the two graphics (mine may not be as pretty but it does tell the real house price story as per the properties sold and at a greater detail.) Click on the pictures to enlarge them.

Towergate Graphic My Own Data From Land Reg
house price infographic real house prices from land registry

LIKE THIS POST? THEN PLEASE SHARE IT WITH OTHERS!

Click Any Of The Buttons Below- or Click Above Right To Tweet It now!

Dont Be Shy! We Would Love Your Comments too-And We Always Respond.Thanks!
by CTA

Related Posts

  • Will Gerstmyer

    Well done Roberta, your logic is the same as the stock market professionals use – real price and not asked/expected, desired, inflated/deflated, normative. I am amazed that anyone would use asking price.
    What is not in the picture (nor factored in well by stock-market types who chart prices) is the kind of background for the “why” of the sales. For instance, in the current market one would not sell unless forced to, therefore there are large groups of market makers who would typically be in the market in a less fragile economy but they are sitting on the sidelines. So, instead of being indicative of value, the chart tends toward reminding those unlucky folks who are sellers that they won’t get as much as they’d like.
    With your smarts, you can reach more people if you remove the chippyness in your remarks about the “poorer” sources of information used by others. Cheers!

    • http://www.mypropertymentor.co.uk/ Roberta Ward

      Hi Will.I don’t agree that “??one would not sell unless forced to.” I can think of many examples- what if you were downsizing, or moving due to kids new schools,or new job. In this market people will tend to move for bigger reasons rather than aspirational. The sales prices will dip due to supply and demand, and readily available finance. All of which are in perilous positions right now.
      Re my chippyness, it’s just my writing style, you like it or dont, I guess, so long as it gets the point across, that’s what matters.
      The information was poor on the infographic and not indicative of the real sales figures which is why I felt compelled to correct it.
      Thanks for your comment :-)

  • Cre

    Interesting read.

    • http://www.mypropertymentor.co.uk/ Roberta Ward

      Thanks.
      **Please note: external advert links not allowed in comments section of this site.**

  • Plotfinder123

     The housing market in the UK has been shaky for some time, and it’s difficult to predict when it might reach the heights of 2007-8.  This may or may not put you off entering the housing market but whatever you decide, it’s worth considering an alternative to buying – why not build your own home?  After all, the government has plans to simplify the planning application process, and you’d be surprised at how affordable it is.  Your biggest hurdle will be finding suitable land for sale, but once that’s been achieved, the costs are remarkably low, and certainly within most peoples’ budgets.  Have a look around, there’s plenty of useful information to be found online, and good luck!

    • http://www.mypropertymentor.co.uk/ Roberta Ward

      Whilst it *may* be cheaper to build rather than buy, it’s certainly no easier to achieve the finance needed, nor is it easy to find a plot at a reasonable price. Building a home requires a lot more dedication, people with knowledge and skills etc.
      Building property can be a minefield of problems for the unwary and not something to be entered into lightly. If the govt do simplify the planning process it does not make the building of a house, finding a plot etc any less difficult.

Content Protected Using Blog Protector By: PcDrome.

Password Reset

Please enter your e-mail address. You will receive a new password via e-mail.