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How valid are the various house price indices?

17th August 2010 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of Assetz comment on the Government’s investigation into the usefulness of house price indices:

“The differing figures produced by the various monthly house price indices frequently offer a confused picture of the state of play in the UK property market. This is especially true at times of major price correction, when contradictory patterns of positive and negative growth emerge between the indices, as seen several times during the recent recession.

“In addition to the capacity for contradiction across the indices, I have always maintained that individual monthly indices from specific providers should not be viewed as reliable market indicators in themselves. Property is an illiquid asset and minor monthly fluctuations recorded by a specific organisation cannot be generalised to the sentiment of all homebuyers. Even seasonal adjustments recorded by some of the major indices can provide a basis for volatility between the different monthly figures, as these are set at the discretion of the organisation that produces them, leaving room for semantic and political decision making to impact on the data.”


This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5288.html. Alternatively, please see our full press release archive.

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