Tuesday, 21 June 2016

How The ONS Knocked £100,000 Off The Average UK House Price

Eagle-eyed house price watchers may have spotted something fishy about the official house price figures for April. The average UK house price was almost £100,000 lower than last month - dropping from £292,000 in March to just £209,000 in April. It turns out the Office for National Statistics (ONS) has merely changed the way it calculates the average house prices. Essentially, it's changed how it does the maths. Chief among the new measures was the decision to give "extreme valued property" - ie. ultra-expensive homes - less weighting in the measure. Read more on the City AM website.

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