Jump to content
House Price Crash Forum
Sign in to follow this  
ollie plimsolls

Land Registry June 09 Mom +0.1% Yoy -14%

Recommended Posts

I see that half the country still had negative MoM figures with London's big increase the only thing that stopped a countrywide fall in prices for the month.

The LR figures IMHO are the ones that are likely to show the most stable picture in the current environment. Bearing in mind that there were only 30,000 transactions in total, the percentage included in the Haliwide data must be tiny.

Share this post


Link to post
Share on other sites

I'm sure overseas buyers have a large part to play in house prices increasing in London. With the devaluation of the pound, they must be getting them for 2/3rds of peak prices.

Share this post


Link to post
Share on other sites
I see that half the country still had negative MoM figures with London's big increase the only thing that stopped a countrywide fall in prices for the month.

The LR figures IMHO are the ones that are likely to show the most stable picture in the current environment. Bearing in mind that there were only 30,000 transactions in total, the percentage included in the Haliwide data must be tiny.

I agree on their accuracy relative to some of the other indices. They are, however, a bit of a historical document by comparison. My guess is we'll see the LR figures rise for a few months now as they start to reflect with Nationwide and Halifax were showing a few months back.

Share this post


Link to post
Share on other sites

Good to see that despite the overall rise, Barking & Dagenham is still -1.1%

Best get on the blower to the missus as she's starting to lose faith in my conviction. In fairness, that only extends as far as "trust me, I know what i'm doing". There's probably an epitaph in there, which might be appropriate if i'm wrong...

Share this post


Link to post
Share on other sites
Is London really going up that fast ?

Any anedoctals?

I doubt these LR figures give a true picture of what is going on at the coal face in London.

Share this post


Link to post
Share on other sites
Is London really going up that fast ?

Any anedoctals?

Its not going up fast at all. Only Hackney with a 2.7% rise.

Note. Recorded Sales volumes in London are at horrendously low levels. Around 4000 a month (reading off the graph) down from nearly 16,000 back in 2007/8. :o

Edited by HostPaul TAFKA Rover2000

Share this post


Link to post
Share on other sites
I'm sure overseas buyers have a large part to play in house prices increasing in London. With the devaluation of the pound, they must be getting them for 2/3rds of peak prices.

Closer to 55% of peak prices than 65% of peak prices in dollar terms where I am looking.

Even though prices in sterling are going to resume their downtrend shortly, dollar (and probably Euro) buyers are already able to buy at close to 50% off prices so it is not a bad time to pull the trigger.

This is a very tiny segment of the entire market so it is not a shock that the market in London is being supported by these buyers at a time when the number of houses available for sale at fair market value is very small.

Share this post


Link to post
Share on other sites
from the LR data PDF

The June data from Land Registry shows a reduced annual house price movement of -14 percent, which is the result of improved monthly change. This is the first time in well over a year that monthly change has been positive. However as the monthly increase is only 0.1 percent, the movement does not signal a return to solid growth, but rather flattening prices. The average house price in England and Wales is now £153,046.

The number of sales averaged 30,997 per month from January to April 2009. In the same period last year, the average was 59,948.

so the volume in what is supposed to be the busiest time of the year is in fact, still about as low as its ever been, got recovereh written all over it does it?

Edited by dandandan

Share this post


Link to post
Share on other sites

if you look at the london boroughs something doesn't add up, it seems to be a complete balance of rises and falls, with only one borough experiencing a 2% rise or greater, yet the 'average' is +2%????

Anyone with more time than me care to work out what's going on with london?

Share this post


Link to post
Share on other sites
I'm sure overseas buyers have a large part to play in house prices increasing in London. With the devaluation of the pound, they must be getting them for 2/3rds of peak prices.

Lets hope all our houses aren't bought up by foriengers while they are "cheap"!

Share this post


Link to post
Share on other sites

I think the 'foreign buyers in London' story is largely made up by Estate Agents, although I do think that the Govt should legislate to prevent non-EU nationals buying existing residential property as investments (they will never do this, but they should).

The real reason for the volatility is most likely the low volumes (the previous two months' HPI figures varied wildly in London). The June LR figures probably represent transactions agreed in the Spring, when people were in the middle of The (alleged) Bounce, and we might see these further reflected in July's figures.

Share this post


Link to post
Share on other sites
Lets hope all our houses aren't bought up by foriengers while they are "cheap"!

Too late. House prices are only going to go up from now on, too many investors from here and abroad.

Share this post


Link to post
Share on other sites

My county (Norfolk ) has accelerating falls, 16.4% year on year fall in June, with a monthly fall of 0.7%. Up from 0.4% the previous month.

These are facts, not opinions. So have alook and see how your county is doing.here is the link

Put your findings on here. Are the agents right or just plain wrong?

Share this post


Link to post
Share on other sites
Too late. House prices are only going to go up from now on, too many investors from here and abroad.

Oh stop, please stop, too funny :lol::lol::lol:

Share this post


Link to post
Share on other sites

Anne Ashworth may have been right in calling the bottom at Christmas ’08 and labelling those who timed it the “new smugsâ€. Has Labour, the media and vested interests achieved what many here dismissed – putting a floor under the market?

We all claimed that sentiment was one of the biggest drivers in the bubble. Well, after 12 months or so of “pessimism†in 2008, it seems to me sentiment has swung strongly in the other direction thanks to a loud and coordinated VI campaign. A young colleague at work and his many mates have been a great indicator of sentiment. They all believe the bottom has passed on now is the best time to take the plunge before it’s too late.

Edited by Turnbull2000

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.