Hi Sector Just wanted to focus on your 'Property has been rising since May 2012' comment, since it has been used a lot lately and is based on the RP Data monthly statements.
The '...since May 2012' reference is no coincidence. June 2012 was a month that recorded a strong increase. These are the monthly numbers (8-capital aggregate) btw: June +1.0% July +0.6% Aug Unchanged Sep +1.4% Oct -1.0% Nov Unchanged Dec -0.3% Jan +1.2% Sounds great and is a 2.9% increase 'since June 2012'.
Problem is that if you include the two previous months of May (-1.4%) and April (-0.8) it's not quite so rosey. Indeed one could easily suggest 'Property has been stagnating since March 2012', or even 'Property has been falling since Sept 2012', and of course 'Property lost value in 2012'. All of those statements are true, I guess it just depends where you put your line in the sand.
