Wednesday, 12 December 2012

First Time Buyers Lending LTV Errors in The Guardian

In another blatant error in their use of statistics The Guardian have today claimed that First Time Buyers are putting down an average deposit of 80% which is out of reach of most FTBs!! You can certainly agree that an 80% deposit would be out of reach of virtually all buyers, whether first time or not!

First Time Buyers Lending LTV Errors in The Guardian
First Time Buyers Lending LTV Errors in The Guardian
There seem to be a huge number of numeracy errors in Guardian stories these days, maybe resurrecting their reputation for typos that was generated in the 1980s and has largely been removed as a result of autocorrect and spellcheckers.

Checking the validity of statistics is somewhat harder and can only be done by a human that understands the interpretation of the data, something journalists clearly do not.

For the record the article should have stated that the average Loan to Value (LTV) was 80%, meaning that the average First Time Buyer was putting down a 20% deposit.

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