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man o' the year

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This caught my eye in that article:

The firm said that 2005 was the last year when anything like these criteria were met.

That says to me, the silent majority turned to fear not in the 2007 crunch or 2008 crash, but right back in 2005 when the market tried to adjust and only bank-busting, economy-busting intervention averted the HPC.

We on HPC are not exceptional. Neither was my ex-landlady, who sold up in 2005 while the going was good. We've been the mainstream for five years! Meeja property-porn isn't leading, it's following!

(didn't plough through the comments, and just skimmed the article)

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From your article:

This morning, the LSL Acadametrics report said that average house prices grew 0.2% in August, but that sales activity was static throughout England and Wales, other than in London, where sales transactions picked up an astonishing 22%.

According to Acadametrics, the average price of a property in England and Wales is now £222,454 – astoundingly, that is around £50,000 higher than Halifax, Nationwide or the Land Registry's reports.

Perhaps an explanation..

From the LSL Acadametrics website

LSL Acad HPI is the only UK house price index based upon every residential property transaction in England and Wales and is designed to provide a “true measure of house price inflation”. LSL Acad HPI has been chosen by the Chicago Mercantile Exchange, the world's largest derivative exchange, for their proposed residential house price derivative which we expect will be launched once the current falls in house prices can be seen nearing an end.

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The interesting thing about that thread is that the EAs appeared to be mostly in denial until some obvious HPCers began pointing out some pretty fundamental things to them - then the tone of the thread changed as if a penny was slowly hitting the floor.

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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