House price index ‘update’ blamed for revised data,which suggests average price in February was £27000 lower than figure declared in JanuaryLondon homeowners are likely to be surprised to discover that their property has typically plummeted in value by £27000 in a month - partly, it seems, or because government statisticians overstated the strength of the housing market in January.
The Office for National Statistics has wiped thousands of pounds off the value of UK homes after carrying out a revision of its data.
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Source: theguardian.com