Are house price statistics reliable?
Ian Harris, chairman of the Norfolk branch of the NAEA, and an agent with Watsons in Norwich, says:
Yes and no! They are great for watching trends in house prices but they are, by nature, a record of what has happened to the price of an average property (whatever that is?) Should you use the data to work out the value of your house?………. well only if you want rough guide!
NAEA news – Housing
Market Report for May 2009 released. NAEA agents from around the country report increasing numbers of new buyers registering, matched with an increase in the numbers of properties selling, with a shortage of new instructions being reported in some locations. This news should be an encouragement to potential movers who were put-off by the market turmoil in 2008, fearing that they would be unable to sell. For more visit www.naea.co.uk or email Ian at email@example.com