Land Registry 0.2%

[SwampDonkey]

April house prices up 0.2 per cent since March: average house price in England and Wales now £165,596

The April data from Land Registry's flagship House Price Index shows an annual price increase of 8.5 per cent. This is the sixth month in a row in which the figure has been positive and takes the average property value in England and Wales to £165,596. The monthly change from March to April is a rise of 0.2 per cent.

All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 14.8 per cent. The region with the smallest annual price rise is Yorkshire and The Humber with a movement of 0.7 per cent.

The North East experienced the greatest monthly rise with a movement of 3.1 per cent. Yorkshire and The Humber is the region with the most significant monthly price fall with a movement of -2.2 per cent.

The most up-to-date figures available show that during February 2010, the number of completed house sales in England and Wales rose by 49 per cent to 40,502 from 27,190 in February 2009.

Full Report

[Pent Up]

pretty much flat then. That would make the 3m/3m at -0.3%

that's a big jump in sales. Wonder what the yoy figure is?

Edited June 1, 2010 by Pent Up FTBer

[Pent Up]

thinking about it. Last months fall in the LR probably coincided with the feb falls in haliwide (roughly) assuming this is correct we would have another month or two of slightly positive LR figures to come yet.

[the flying pig]

Really big jump for London. Now only 4% below peak. Incredibly upsetting .

Edited June 1, 2010 by the flying pig

[plummet expert]

April house prices up 0.2 per cent since March: average house price in England and Wales now £165,596

The April data from Land Registry's flagship House Price Index shows an annual price increase of 8.5 per cent. This is the sixth month in a row in which the figure has been positive and takes the average property value in England and Wales to £165,596. The monthly change from March to April is a rise of 0.2 per cent.

All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 14.8 per cent. The region with the smallest annual price rise is Yorkshire and The Humber with a movement of 0.7 per cent.

The North East experienced the greatest monthly rise with a movement of 3.1 per cent. Yorkshire and The Humber is the region with the most significant monthly price fall with a movement of -2.2 per cent.

The most up-to-date figures available show that during February 2010, the number of completed house sales in England and Wales rose by 49 per cent to 40,502 from 27,190 in February 2009.

Full Report

If you take London out of it, where the worlds Billionaires are filling their boots with prime property with a £ on its knees, then the rest are falling. In the last month I have seen it definitely turn downwards and this has yet to work through into these blunt averages. Property has nowhere to go but down.

[Realistbear]

Really big jump for London. Now only 4% below peak. Incredibly upsetting .

Euro flight plus heavy buying by Russians with billions to NOT invest in their own country.

We are the last bastion of the bubble and will not last much longer. Transactions are still low, supply is building, personal bankruptcies still gathering momentum, unemployment at a more than a decade high, stock markets crashing--not really much positive news to trigger another property bubble.

[evictee]

Really big jump for London. Now only 4% below peak. Incredibly upsetting .

Yeah, only 6% off peak in Cardiff now too. I give up.

[the flying pig]

...London... where the worlds Billionaires are filling their boots with prime property with a £ on its knees...

I know there are a few buyers who fit that description but I can only think they're a tiny minority.

Far more are like my next door neighbours in SW London, a young middle class couple born on the cusp of the 70s/80s with quite good jobs [combined earnings circa £80k?] and quite well-off/generous parents [who i believe gave them a c. £50k deposit] who borrowed 3.75 times joint salary to buy a horrifyingly ordinary place & who are now down to one earner & who seriously struggle to make their repayments even with low interest rates & having taken in a lodger...

Edited June 1, 2010 by the flying pig

[the flying pig]

Yeah, only 6% off peak in Cardiff now too. I give up.

Well, that one I can understand/explain - Cardiff's different.

Edited June 1, 2010 by the flying pig

[Pent Up]

Yeah, only 6% off peak in Cardiff now too. I give up.

don't forget these prices are a snapshot of the Market 3 months ago. A hell of slot has changed on those 3 months, in Essex at least. 25% more stock and reductions everywhere.

[Charlie Don't Surf]

Transactions are still low, supply is building, personal bankruptcies still gathering momentum, unemployment at a more than a decade high, stock markets crashing--not really much positive news to trigger another property bubble.

I think you are forgetting the Brit's fighting spirit and power to soldier on in the face of adversity (,common sense, logic and fundamentals)

[Realistbear]

pretty much flat then. That would make the 3m/3m at -0.3%

that's a big jump in sales. Wonder what the yoy figure is?

Not just "flat" if the BBC are to be credited with truth:

http://news.bbc.co.uk/1/hi/business/10202437.stm

House price inflation hits 8.5% in England and Wales

Tuesday, 1 June 2010 11:50 UK

House prices are still picking up, despite sluggish sales

House prices in England and Wales are continuing to

rise strongly

, according to the latest figures issued by the Land Registry.

How many months does the LR lag? Do they include forced sales? Do they factor in the cost of improvements?

Sluggish sales are the market reality because of job losses, stock market collapse, tight credit and plain old inability to borrow enough to buy a house in the first place.

[Mikhailo]

In the report it says that nationally prices have risen for 6 months in a row but last month's report showed a fall of -0.6%. How do you check last months figures to see how much they have been revised by - I know how to do it by individual cites/metropolitan areas but not for the whole country?

[Pent Up]

In the report it says that nationally prices have risen for 6 months in a row but last month's report showed a fall of -0.6%. How do you check last months figures to see how much they have been revised by - I know how to do it by individual cites/metropolitan areas but not for the whole country?

It's the YoY figures which have been rising for 6 months.

[Pent Up]

Not just "flat" if the BBC are to be credited with truth:

http://news.bbc.co.uk/1/hi/business/10202437.stm

House price inflation hits 8.5% in England and Wales

Tuesday, 1 June 2010 11:50 UK

House prices are still picking up, despite sluggish sales

House prices in England and Wales are continuing to

rise strongly

, according to the latest figures issued by the Land Registry.

How many months does the LR lag? Do they include forced sales? Do they factor in the cost of improvements?

Sluggish sales are the market reality because of job losses, stock market collapse, tight credit and plain old inability to borrow enough to buy a house in the first place.

no HPI includes forced sales not a true indication of Market value apparently. I would say the lag is about 3 months as this is how long an average sale takes.

[Mikhailo]

It's the YoY figures which have been rising for 6 months.

Ok thanks. Can you tell me how I can check the revised figures for last month anyway? For Sheffield March's prices were recorded as having risen 0.3% but now if you check those figures they show as having risen 0.7%. I want to see how big the difference is nationally if it's possible.

Edited June 1, 2010 by Mikhailo

[Pent Up]

Ok thanks. Can you tell me how I can check the revised figures for last month anyway? For Sheffield March's prices were recorded as having risen 0.3% but now if you check those figures they show as having risen 0.7%. I want to see how big the difference is nationally if it's possible.

I'm sure normally there is a data set for the last several months in the report. Not today though.

Sky news are reporting Marchs figure as -0.1% this would a 0.5% revision if correct! With such low volumes it's possible that the last bit of data towards the end of the month could make a big difference on the actual figure but half a percent is quite big. That would make the first figure completley useless as April could be +0.7% or - 0.3% when revised!

Edited June 1, 2010 by Pent Up FTBer

[pajd]

House prices in England and Wales are continuing to rise strongly, according to the latest figures issued by the Land Registry.

Prices in April rose by another 0.2%, pushing up the annual rate of increase to 8.5%.

Continuing to rise strongly....0.2%!!!

Good old BBC and their spin

[winkie]

Continuing to rise strongly....0.2%!!!

Good old BBC and their spin

0.2 x 12 = 2.4% you can get more from a good savings account monthly interest tax paid.

[Mikhailo]

I'm sure normally there is a data set for the last several months in the report. Not today though.

Sky news are reporting Marchs figure as -0.1% this would a 0.5% revision if correct! With such low volumes it's possible that the last bit of data towards the end of the month could make a big difference on the actual figure but half a percent is quite big. That would make the first figure completley useless as April could be +0.7% or - 0.3% when revised!

As the LR figures are a month behind (this index was for sales completed at the latest on 30 April) you would expect all the data to be available at the time of release. A 0.5% revision does seem quite big.

[headrow]

. Yorkshire and The Humber is the region with the most significant monthly price fall with a movement of -2.2 per cent.

I can see this figure happening every month for the next year.

Nothing is moving. Local papers in their property section are showing quite large falls in asking prices and the job situation is dire.

Across the range from back to back terraces to 4 bedroom detached, the downward pressure on prices is starting to gain a bit of momentum. The rental market has gotten very cut throat too , houses that were going for £450pcm 6 months ago are advertised well under £400 now.

[Pent Up]

I can see this figure happening every month for the next year.

Nothing is moving. Local papers in their property section are showing quite large falls in asking prices and the job situation is dire.

Across the range from back to back terraces to 4 bedroom detached, the downward pressure on prices is starting to gain a bit of momentum. The rental market has gotten very cut throat too , houses that were going for £450pcm 6 months ago are advertised well under £400 now.

I'd say a similar thing for Essex yet the LR figures are +0.6%. Maybe after another month or two when they have caught up.

[Pent Up]

Ok thanks. Can you tell me how I can check the revised figures for last month anyway? For Sheffield March's prices were recorded as having risen 0.3% but now if you check those figures they show as having risen 0.7%. I want to see how big the difference is nationally if it's possible.

Click on search the index. Choose your location and then select HPI report with the months you want to look at.