Land Registry Aug 09 Mom -0.1 Yoy -9.4

[scottbeard]

They've revised last month's figure up slightly

LR HPI

July £156,170 (revised up from £155,885) +1.8% MoM -11.5% YoY

Aug £155,962 -0.1% MoM -9.4% YoY

I hope this does something to help people realise these figures aren't all rigged by VIs. Quietly upping last months whilst plastering a negative across the BBC is surely not VI tactics.

Earlier in the year the times reported some 40% of sales were cash sales. That is ONE HELL of a percentage for Haliwide to be missing out.

Only matters if those 40% are materially different in some way from the other 60%. Same as sampling 60% of the population for anything.

The reason for defending the figures is that people seem delighted when they support their own viewpoint and distrustful of them when they don't - in reality they are useful indicators even if not perfect. It's actually quite interesting that a "neutral" figure like -0.1% hasn't provoked much of a reaction at all...

[richcrashman]

It would be interesting if there was a cash buyers index.

Maybe LR is has cut free from its ususal lag of the other indicies because cash buyers are turning the screw!

If this was the case which other indices would be affected? I think HMRC only report on volumes of sales without attaching a value.

Edit: Cannit speel!

I was thinking the same thing.

[Executive Sadman]

Only matters if those 40% are materially different in some way from the other 60%. Same as sampling 60% of the population for anything.

The reason for defending the figures is that people seem delighted when they support their own viewpoint and distrustful of them when they don't - in reality they are useful indicators even if not perfect. It's actually quite interesting that a "neutral" figure like -0.1% hasn't provoked much of a reaction at all...

Well i would guess the cash buyers would be in a better negotiating position, thats the implication anyway.

[awaytogo]

How can this be a negative figure when they are supposed to lag the recent Halifax and Nationwide increases by months?

Aren't the Halifax and Nationwide figures to be trusted?

[Democorruptcy]

I've had a look at the Land Registry statistical release and one set of figures astonished me.

When you look at the number of properties sold per price, in total only 9,431 houses sold were over £250k

All that stimulus, VI stuff in the media, etc and less than a five figure return.

I presume the removal of the stamp duty holiday above £125k might stimulate a few sales before year end but after that it's going to be a dire winter for anyone who hasn't managed to sell isn't it?