Monday, Jul 28, 2008
Biggest monthly drop yet
Land Registry: June Land Registry Report
June LR figures out show the biggest monthly drop yet -1.0%. More to follow as this indictor lags 3 months.
Posted by growler @ 11:35 AM (413 views) Add Comment
3 Comments
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1. uncle tom said...
Although this is a very lagging indicator, it is also a very accurate one, as it records actual transaction prices.
What is interesting is that the data suggests the crash has so far had less impact on house purchases that do not involve taking out a mortgage.
2. Gorseinonboy said...
Another indication that the trend in house price reductions is not slowing down.
3. str 2007 said...
Agree with you there Uncle Tom
This time around London seems to be lagging but now falling.
I think ''non mortgage'' prices have held up due to people moving out of London to the commuter belt.
I also feel there are more wealthy people around this time. (The lottery alone will have made about 1000 millionaires over the 10 years, And I'm sure alot of sports people and celebrities earn significantly more now than they did 10-20 years ago).
I'd be surprised though if many now are pouring money into property.
To that end despite what the Daily Express says I can see the rate of falls accelerating from here.