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Assetz® Property News Service
Assetz comments on the government's investigation into house price indices
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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.”
-ENDS-
Notes to Editors
About Assetz plc
Assetz plc heads up a group of well-known and successful property investment and development companies, delivering carefully selected UK and overseas property as well as property funds, financial planning, education, finance and after-sales service. Assetz offers expertise and peace of mind whether a buyer is seeking an investment or a residential property.
Assetz: 0845 400 9000 or visit www.assetz.co.uk
For further information please contact:
Suman Hughes or Laura Scarrott, The Wriglesworth Consultancy:
020 7427 1400 s.hughes@wriglesworth.com or l.scarrott@wriglesworth.com
Chief Executive’s Blog: http://investors.assetz.co.uk/blog/archives.php
This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5303.html. Alternatively, please see our full press release archive.
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