Wednesday, Jul 28, 2010
Still hovering on the precipice
HM Land Registry: Land Registry data for June
Average price £166,072; Change Monthly 0.1%; Annual change 8.4%.
Posted by greenmind @ 11:37 AM (1657 views) Add Comment
6 Comments
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1. greenmind said...
Sorry, messed up the link:
http://www1.landregistry.gov.uk/assets/library/documents/HPIreportmlrmd0710.pdf
2. str 2007 said...
As we know 0.1% doesn't really mean anything either way.
Would have been nice to see this 0.1% negative though.
Let's bear in mind this figure is for houses sold around March April, the absolute prime selling time.
I think they'll struggle to keep this figure positive for more than another month or so.
But you can't really start counting until we get all indecise showing negative, so could be another couple of months yet before the headlines in papers show the tale.
3. ontheotherhand said...
Page 13, the volume of sales in the section 150 - 200K in which the average house price of 166K lies went up 25%. The volume of sales in the section below that, presumably where the first time buyers lurk, was only up 7%. However, all the more expensive categories increased their volumes of sales a lot more. What can this mean? Perhaps only those on the ladder with equity are managing to move house and first time buyers at the bottom of the pyramid are still rare?
4. str 2007 said...
Surprising average prices don't show as a higher figure given the huge increase in volume above £200k and the reduction in volume below 150k.
5. greenmind said...
The sales volume figures are not for June but for March (or April?). They lag behind the average price figures. I suspect the June volume figures would make interesting reading, but unfortunately we will have to wait for them.
6. Arthur Kinnell said...
Someone asked on the blog a couple of days ago why the discrepancy between actual sold prices and Land Registry figures, I tried to post a reply but it wouldn't let me cos I'm not a member or something (I keep applying, dunno what the prob is). Anyway, only light I can shed on the issue was a BBC radio 4 broadcast in 2007 from Manchester where vendors of flats were apparently exaggerating sold prices to massage the figures, by giving 'rebates' or something similar. Anyone else hear of this?