Monday, Aug 20, 2007
Even with supposed 'cooling' house prices are still going up by over £1k a month.
Sky: House Prices Edge Ahead By Just 0.6%
August's increase added around £1,473 to the value of a home, pushing average house prices up to £241,474.
Posted by david20040_0 @ 06:36 PM (1027 views) Add Comment
16 Comments
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1. david20040_0 said...
""August's increase added around £1,473 to the value of a home, pushing average house prices up to £241,474.
But, despite the relatively subdued monthly rate of growth, annual house price inflation rose to 12.8% in the 12 months to August 11, up from 10.3% the previous month."""
So prices are still going up by more than £1k a month and the average annual change has gone up again.
It doesn't matter that the percentage increase is smaller because house prices have risen so much even a small percentage change is a lot of money.
2. deepak said...
I really wish some how, some one explains me how these people calculate these figures.
3. Deadman said...
especially as firstrung say they only rose by an average of £72!!!
http://firstrung.co.uk/articles.asp?pageid=NEWS&articlekey=7155&cat=44-0-0
4. Bubbles. . . said...
good im glad dont care im saving 2K a month eventually I will overtake ( have done already) what they go up by...And im still not going to buy!!!! Cos these crazy prices are what drives other 1st time buyers like me away from the market at its peril....We are here and CAN buy if we want some people do good luck to them IM not until there is a correction.. Many more people like me that dont want to buy...Thats my opinion as a so called free citizen, with some of my comments not being on here I feel the editor of this is not even gunna post this SUPRISE me and let me put my opinion on here its only fair..BOO HOO!!
5. Bubbles. . . said...
Im not buying still think its a bubble thats inflating bigger and BIGGER! wheres the PIN?
6. Bubbles. . . said...
Great Job bet the owner of sky has his own VI agenda..keep it blown up until....I...Just wanna sell ...ahh to LATE POP!!!!
7. Ilejustwait said...
they go by the average price which covers all propertys sold / Re mortgage around the UK , we all now that london prices are very high, but they are not so high in other parts of the country, so if you use as an eg
100 homes sold in london at 250k
100 homes sold in norfolk at 150k
the average price would be 200k
to get this calculation you just use maths
100 x 250k = 25000k
100 x 150k = 15000k
-------------------
sub total = 40000k
devided by 200 homes,average price = 200k
8. uncle chris said...
This is Rightmove remember ... I have tried and failed to get answers on how they calculate their statistics. However, for interest I've just checked the county of Kent and they list 377 houses for sale for over £1 million!! If this is repeated across the home counties, then it's easy to see how the average asking price [with a little statistical manipulation ;-) ] can be as high as they claim. Personally I would prefer the MEDIAN prices to be listed, rather than the AVERAGE, which can easily skew perceptions.
i.e. 80 houses at £100,000 and one manor estate at £8,000,000 = average £197,531 = no relation to what is seen on the ground.
9. planning4acrash said...
These are asking prices from Rightmove, which has a massive vested interest m'dear.
10. enuii said...
They're only worth what they sell for, this requires the checking of the rightmove board price against the land registry sold price which is a piece of information that you will not get from Messrs Rightmove and Company.
11. Sold Out said...
These figures are bogus they are based on "asking" prices and not actual sold prices which as we all know from the land registry are already flat or falling.you keep on trying don't you david,all the articles you post are the same old EA propaganda.
12. Cheekie Charlie said...
The thing is David, for the past 2 years on this site we've said HPC was going to happen but we couldn't tell you when or what would be the trigger. We don't have to worry about that anymore only a fool wouldn't believe that property is heading for an immediate crash and if you really think that bricks and mortar are really worth the ludicrous price tag of today then you don't have an ounce of commonsense. What you have witnessed over the past 5 years is the biggest financial misselling scam ever to hit these shores.
13. voiceofreason said...
enuii, good point.
Maybe that is something www.propertysnake.co.uk could add to their website...
14. Ihopeitgoeswithabang said...
Average what? what's that supposed to mean to anyone!
So everyone who has a home on the market should just ring through to their estate agent and ask for a price increase?
No they wont.
There are comments in there like
"market starting to adjust to the increased costs of homeownership"
"market had now genuinely reached the limit of buyers' ability to afford higher prices in the current conditions"
"London mini boom helped push them up by a further 23% across the country during the following three years"
Reading between the lines
No one is willing to stomach any more price increases and finding a buyer that will, will be like finding rocking horse sh*te
And when London does start to drop - and i believe even today that was reported somewhere ???? that this will be the opposite to the mini boom and start a mini bust?
15. captain sensible said...
Doesn't really matter how large or small the % rise is as this will only make any sense post-crash when we know the % fall. For example, I recently read a piece commenting on a property bought for over 800k in 1988 or 89 which was repossessed and sold in 1993 or 94 for about 300k.
16. Orwell said...
Well done for this David. You provoke debate and that is good. It might not be a good site if it was like David Smith's site where all views not in accordance with his are banned.