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The Masked Tulip

July House Prices Up 0.4% On June - Land Registry

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http://www.stockmarketwire.com/display/?id=3963442&sectionId=standardNews

StockMarketWire.com - The July data from Land Registry's flagship House Price Index shows an annual price increase of 6.7% which takes the average property value in England and Wales to £166,798.

The monthly change from June to July is an increase of 0.4%.

Nine 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 12.1%.

The region with the greatest annual price fall is the North East with a movement of -1.4%.

The South West experienced the greatest monthly rise with a movement of 2.2%.

Wales experienced the most significant monthly price fall with a movement of -1.1%.

The most up-to-date figures available show that during May 2010, the number of completed house sales in England and Wales rose by 8% to 49,412 from 45,814 in May 2009.

The number of properties sold in England and Wales for over £1m increased by 67% between May 2009 and May 2010, from 255 to 426.

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Thanks, but old news. I'll wait until later this morning for the August figures!

Is it? Oh, yes - must read stuff before I post it. :lol:

Why on earth would they post that article just a few hours ago.

Well spotted.

I am off for a biscuit and a lie down now.

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The August figures will reflect what was happening in the Spring given the lag. The data should be about neutral or ever so slightly up.

The actual drop for my area (houses in the £250-£350k range) since Spring is about 15% (East Sussex).

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I think it will be up as there was, allegedly, a Spring Bounce.

Yes, could well be, because of the time delay in their figures, and if they are, I guess we can expect them to be plastered all over the BBC.

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there are thousands of CASH buyers out there?

not so.

Approvals in February 2010...47094

Approvals in March 2010...48901

APPROVALS in April 2010....49871

completions in May 2010..45814

COMPLETIONS JUNE 2010.......49412.

so..we see ALL transactions are MORE than covered by approvals...Approvals are therefore NOT SALES.

and we see that there are 0 cash buyers..every house sale recorded at the LR is covered by a mortgage.

so...what conclusion can be drawn if A: approvals are HIGHER than completions and B: approvals are hard to get?

oh yeah...a price rise in the offing....I think not!

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there are thousands of CASH buyers out there?

not so.

Approvals in February 2010...47094

Approvals in March 2010...48901

APPROVALS in April 2010....49871

completions in May 2010..45814

COMPLETIONS JUNE 2010.......49412.

so..we see ALL transactions are MORE than covered by approvals...Approvals are therefore NOT SALES.

and we see that there are 0 cash buyers..every house sale recorded at the LR is covered by a mortgage.

so...what conclusion can be drawn if A: approvals are HIGHER than completions and B: approvals are hard to get?

oh yeah...a price rise in the offing....I think not!

The cash buyers are running out - it takes an inordinate amount of real cash and earnings to prop this pig up up and the more propping the more dropping there is going to be as the damage done to the UK is cumulative - we are still loosing jobs to offshoring, we are still wildly uncompetitive, we are still importing "skills" LOL. The Bankrupt of England have yet again held a gun to peoples' head and said buy you *******, but the supply of suckers is limited. Now, with rising inflation those left will have to keep and even tigter grasp of what remains of purchasing power in direct contradiction to Beantard's requests.

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The important question is who is going to be first to post the news when it breaks? :blink:

And..will it be a new thread or an add-on to this one? :blink::blink:

Edited by Realistbear

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The important question is who is going to be first to post the news when it breaks? :blink:

I notice BDEV is down 2% this morning so maybe someone knows something we don't know? It go up a bit yesterday day though.

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The important question is who is going to be first to post the news when it breaks? blink.gif

And..will it be a new thread or an add-on to this one? blink.gifblink.gif

I've never really looked at your signature before ... don't you wish you had never added it?

As far as I can see:

1) No HPC in Spring 2010 - it's just kicking in now (you keep posting about 10%-15% falls in East Sussex - it's not like that in East Berkshire)

I can only speak for my area - rents are currently insane and there is a lot of pressure on the rental market. I know, I'm having to move at the moment. If we don't buy I'm going to end up paying at least £400 a month more for the equivalent house. I've met two people in the last few days, in the course of looking at houses, that I've ended up having fairly in-depth chats with. One has 3 BTLs and is selling one so he can buy 2 smaller ones. The other has 6 which 'we've bought over the last 6 years' which have 'done very well'. I had quite a chat with the second one who is vaguely connected with the property world - and was told that he was well aware that prices were falling, and would fall a bit more, but the rents were so good it would not affect him. Strikes me the only thing that is going to 'break' BTL is sharply higher interest rates and lower rents. If this happens it will take years to affect the market because only the odd, over-leveraged, BTLetter will sell up. But with FTBs priced out of the market (maybe permanently), the pressure on rents is UPWARDS!

2) Your prediction for a conservative majority was out by about 60 seats

3) Gold at all time high?

I'm not having a go at you for making predictions - but doesn't it bother you that they're so far out?

Edited by Let's get it right

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I notice BDEV is down 2% this morning so maybe someone knows something we don't know? It go up a bit yesterday day though.

A mortgage broker told me yesterday that new builds are suffering because surveyors are undervaluing them - quite a bit - and deals are falling through.

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A mortgage broker told me yesterday that new builds are suffering because surveyors are undervaluing them - quite a bit - and deals are falling through.

That is how it used to be with new builds - the first buyer paid a premium but usually new builds then suffered in price for the first 10 years or so... but the bubble changed all that... it changed us all... :blink:

Bubb has turned me into a BDEV watcher. I keep expecting it to crash to 50p from a £1 again. I am fascinated by it. It is more fun than the TV... but it loiters stubbornly at 90p to a £1 now.

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The important question is who is going to be first to post the news when it breaks? :blink:

And..will it be a new thread or an add-on to this one? :blink::blink:

I'd say a new thread.

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That is how it used to be with new builds - the first buyer paid a premium but usually new builds then suffered in price for the first 10 years or so... but the bubble changed all that... it changed us all... :blink:

Bubb has turned me into a BDEV watcher. I keep expecting it to crash to 50p from a £1 again. I am fascinated by it. It is more fun than the TV... but it loiters stubbornly at 90p to a £1 now.

BDEV and the others I have noticed do not react to any house price news when it breaks. It's seems to be quite volatile and often has a surge even after a nasty release. It's picked up quite a bit from it's lows of a couple of months ago.

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BDEV and the others I have noticed do not react to any house price news when it breaks. It's seems to be quite volatile and often has a surge even after a nasty release. It's picked up quite a bit from it's lows of a couple of months ago.

Odd isn't it - it went down to about 50pish in the banking crisis and then up to about £2.50 and then back down to about 90pish.

I only know this from looking at google's charts... which are strangely hypnotic.

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  • 143 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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