September's silly statistic

News item in the property pages today:

Letting agent Rentify has estimated that the 240-bedroom Buckingham Palace would come at a rental cost of £303,340 per month.  

Not, you may think, a round £300,000, but a splendid £3340 per month more. 

However, the estimate is not quite as crazy as it appears, just the way it has been expressed.  Rents for property are usually round sums, either per month or per week.  And this monthly rent is a nice round estimate of £70,000 per week - but someone felt that it would sound better as a monthly amount.  On the Rentify website, the figures are given per month, and you have to make the conversion yourself when some figure looks odd.

Moral - if a figure is an estimate with one set of units, don't change the units!


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