I am intrigued, not to say baffled, by the maths supporting your front page headline article “New figures show big house price increase”.
The article declares “House prices in Harborough have shot up by nearly 10 per cent in the last quarter, apparently supported by Land Registry figures showing a 9.8 per cent increase in prices paid in the district between July and September compared to the previous quarter.
The supporting narrative goes on to inform that the largest increase was detached homes which saw a 7.2 per cent rise, so perhaps we are already struggling.
Thereafter we are informed that terraced homes have increased 3.3 per cent and flats by 0.4 per cent, while semi-detached homes have fallen in price by 3.3 per cent.
Quite how does this average out at 9.8 per cent overall, or am I missing something?
Or has the Harborough Mail succumbed to the kind of creative maths that has brought the financial world low at everone else’s continuing cost?
Editor’s Note: The 10 per cent increase is a bona fide figure published by the Land Registry based on absolute prices paid, taking all home sales into account.
The overall average is based on the average price paid in the district taking all sales into account and is influenced by the high prices paid for some detached homes when compared with flats or terraced properties.
It remains a fact that the overall average price paid is up by nearly 10 per cent