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Realistbear

F T : Houses Prices, Wait For It, Up 0.2%

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http://www.bloomberg.com/news/2010-10-07/london-leads-house-prices-to-two-year-high-acadametrics-says.html

London Leads U.K. Home Prices to Two-Year High as Market Peaks, Groups Say
By Scott Hamilton - Oct 8, 2010 12:01 AM GMT
U.K. house prices rose to a two-year high in September as demand picked up in London and the property market showed signs of peaking, research company Acadametrics Ltd. and LSL Property Services Plc said.
The average price of a home in England and Wales rose 0.2 percent from August to 223,965 pounds ($357,000), the highest since July 2008, the companies said in an e-mailed statement in London today. Values were up 7 percent from a year earlier.

Headline on BBC yet????

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This goes on land registry figures and the latest months figure is an estimate. Which gets revised. So it's lagging just like LR although I do wonder why this has an average of £220kish and LR is £160ish?

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This goes on land registry figures and the latest months figure is an estimate. Which gets revised. So it's lagging just like LR although I do wonder why this has an average of £220kish and LR is £160ish?

The FT readership tend to be well heeled.

Agree on the lag--some say 6 months and LR data fails to take into account all important auction data and cost of recent improvements. Low transactions also skew date upward. Useless sad to say.

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Apparently this index uses ALL data submitted to the LR so includes the stuff that LR considers not representative of true Market value. So it should in theory be more accurate than the LR.

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http://www.bloomberg.com/news/2010-10-07/london-leads-house-prices-to-two-year-high-acadametrics-says.html

London Leads U.K. Home Prices to Two-Year High as Market Peaks, Groups Say
By Scott Hamilton - Oct 8, 2010 12:01 AM GMT
U.K. house prices rose to a two-year high in September as demand picked up in London and the property market showed signs of peaking, research company Acadametrics Ltd. and LSL Property Services Plc said.
The average price of a home in England and Wales rose 0.2 percent from August to 223,965 pounds ($357,000), the highest since July 2008, the companies said in an e-mailed statement in London today. Values were up 7 percent from a year earlier.
They also quote the price of an average British house in USD !! -
:D

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I increasingly wonder about Land Registry data.

I keep looking for prices of stuff that was sold 4-10 months ago, and half of it isn't even on there yet.

Presumably land registry figures are accurate when they get all the data, but it seems that it's the revised figure you get about 2 years late that's accurate, not the one based on the previous month which only includes the small percentage of stuff that gets registered within a month or two.

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Apparently this index uses ALL data submitted to the LR so includes the stuff that LR considers not representative of true Market value. So it should in theory be more accurate than the LR.

The index is designed for accuracy and therefore the smoothing applied makes this index more lagging than the others. A bit like Halifax using the runing three month average for their YOY figures.

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I increasingly wonder about Land Registry data.

I keep looking for prices of stuff that was sold 4-10 months ago, and half of it isn't even on there yet.

Presumably land registry figures are accurate when they get all the data, but it seems that it's the revised figure you get about 2 years late that's accurate, not the one based on the previous month which only includes the small percentage of stuff that gets registered within a month or two.

A house i'm watching is going to auction, was some confusion over the tenure, it turns out the land reg has it listed as freehold, but infact it's leasehold.

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  • 149 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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