Ask what is being measured
A headline may describe asking prices, agreed prices, mortgage-backed transactions or completed sales. These are different measures at different stages of a transaction. Start by checking the source, reporting period and definition.
Put the geography in context
A national average brings together very different local markets and property types. Look for information relevant to the location and type of property you are considering, rather than treating one broad figure as a valuation.
Read the comparison carefully
Monthly and annual comparisons answer different questions. Publication dates also matter: a newly published report may describe transactions from an earlier period. Take time to understand the comparison behind the headline.
Bring it back to the property
General market news can help frame a conversation. For an individual property, condition, tenure, location and the terms of sale still need their own research. Ask how the broader context relates to the property in front of you.
General information for your research. The details and terms of an individual property should always be checked with the appropriate professional advisers before you commit.
