ollie plimsolls Posted July 28, 2009 Share Posted July 28, 2009 LR June09 Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
Deckard Posted July 28, 2009 Share Posted July 28, 2009 Is London really going up that fast ? Any anedoctals? Quote Link to comment Share on other sites More sharing options...
manbearpig Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
Jason Posted July 28, 2009 Share Posted July 28, 2009 Sig updated. Quote Link to comment Share on other sites More sharing options...
spline Posted July 28, 2009 Share Posted July 28, 2009 (edited) Quick summary LandRegistry house prices in Jun/09 UK £153,046 SA, +0.1% MoM -14.0% YoY London £301,859 SA, +2.0% MoM, -12.5% YoY Report posted by OP above (but also linked below) http://www1.landregistry.gov.uk/assets/lib...pi-june2009.pdf Updated charts Edited July 28, 2009 by spline Quote Link to comment Share on other sites More sharing options...
Moo Posted July 28, 2009 Share Posted July 28, 2009 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 They are, however, a bit of a historical document by comparison.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. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted July 28, 2009 Share Posted July 28, 2009 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... Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted July 28, 2009 Share Posted July 28, 2009 This Winter will wipe all before it- just wait. Quote Link to comment Share on other sites More sharing options...
nohpc Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 28, 2009 Share Posted July 28, 2009 (edited) 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. Edited July 28, 2009 by HostPaul TAFKA Rover2000 Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
dandandan Posted July 28, 2009 Share Posted July 28, 2009 (edited) from the LR data PDFThe 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 July 28, 2009 by dandandan Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted July 28, 2009 Share Posted July 28, 2009 This Winter will wipe all before it- just wait. yep.... Quote Link to comment Share on other sites More sharing options...
arby1 Posted July 28, 2009 Share Posted July 28, 2009 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? Quote Link to comment Share on other sites More sharing options...
allfiredup Posted July 28, 2009 Share Posted July 28, 2009 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"! Quote Link to comment Share on other sites More sharing options...
WageslaveX14 Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
Joey Buttafueco Jr Posted July 28, 2009 Share Posted July 28, 2009 I doubt these LR figures give a true picture of what is going on at the coal face in London. You reckon it is underestimating the rises? Quote Link to comment Share on other sites More sharing options...
workingnomad Posted July 28, 2009 Share Posted July 28, 2009 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. Quote Link to comment Share on other sites More sharing options...
Jack2 Posted July 28, 2009 Share Posted July 28, 2009 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? Quote Link to comment Share on other sites More sharing options...
gilf Posted July 28, 2009 Share Posted July 28, 2009 BBC is reporting this as +1% not +0.1%, might not sound significant but 0.1% is even less than noise IMO. http://news.bbc.co.uk/1/hi/business/8172097.stm Quote Link to comment Share on other sites More sharing options...
Jack2 Posted July 28, 2009 Share Posted July 28, 2009 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 Quote Link to comment Share on other sites More sharing options...
Deckard Posted July 28, 2009 Share Posted July 28, 2009 BBC is reporting this as +1% not +0.1%, might not sound significant but 0.1% is even less than noise IMO. http://news.bbc.co.uk/1/hi/business/8172097.stm what's 10X between friends Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 28, 2009 Share Posted July 28, 2009 I have emailed them telling them to correct. Suggest others do too Quote Link to comment Share on other sites More sharing options...
Turnbull2000 Posted July 28, 2009 Share Posted July 28, 2009 (edited) 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 July 28, 2009 by Turnbull2000 Quote Link to comment Share on other sites More sharing options...
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