rantnrave Posted January 31, 2011 Report Share Posted January 31, 2011 (edited) Down 0.2% MoM YoY =1.5% Price = 163,814 These are December's figures. A rise in the number of newbuild igloos coming to market prevented a greater fall. Edited January 31, 2011 by rantnrave Quote Link to comment Share on other sites More sharing options...
exiges Posted January 31, 2011 Report Share Posted January 31, 2011 (edited) YoY =1.5% Whoop de doo It's in the right direction.. but not the right speed. I see detached houses are 3% YOY compared to say 0% YOY for terraced houses, confirms my thoughts that it's only the equity-rich trading amongst themselves keeping this ball in the air. London YoY is 6%.. skewing the stats further. Again, look.. the FTB lower end market is on it's ar5e.. it's just the upper end skewing the stats. Edited January 31, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
fellow Posted January 31, 2011 Report Share Posted January 31, 2011 Whoop de doo It's in the right direction.. but not the right speed. Down is down. Also remember that the LR figures lag behind a few months. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 31, 2011 Report Share Posted January 31, 2011 Down is down. Also remember that the LR figures lag behind a few months. As the bishop said to the showgirl. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 31, 2011 Report Share Posted January 31, 2011 Down 0.2% MoM YoY =1.5% Price = 163,814 These are December's figures. A rise in the number of newbuild igloos coming to market prevented a greater fall. New builds aren't included. I was hoping for more but at least it's negative. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 31, 2011 Author Report Share Posted January 31, 2011 Is it seasonally adjusted? I make the actual HP figure down by a grand, so a fall of 0.6%? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 31, 2011 Author Report Share Posted January 31, 2011 New builds aren't included. TIC BTW Quote Link to comment Share on other sites More sharing options...
getknk Posted January 31, 2011 Report Share Posted January 31, 2011 does dec10 mean the real data compiled in Nov10? or is the real data for Dec10? Quote Link to comment Share on other sites More sharing options...
exiges Posted January 31, 2011 Report Share Posted January 31, 2011 (edited) Down is down. Trouble is, to misquote, after the decimal point nobody cares. Unless we see 1%, 2% etc drops people will see nought-point-something as near-zero. Edited January 31, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 31, 2011 Report Share Posted January 31, 2011 TIC BTW Pardon? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 31, 2011 Report Share Posted January 31, 2011 Any revision to the previous month? Quote Link to comment Share on other sites More sharing options...
fellow Posted January 31, 2011 Report Share Posted January 31, 2011 Again, look.. the FTB lower end market is on it's ar5e.. it's just the upper end skewing the stats. Very good point. With so few sales, the higher end houses are hiding the falls at the lower end. Quote Link to comment Share on other sites More sharing options...
Cozza Posted January 31, 2011 Report Share Posted January 31, 2011 YoY =1.5% Whoop de doo It's in the right direction.. but not the right speed. I see detached houses are 3% YOY compared to say 0% YOY for terraced houses, confirms my thoughts that it's only the equity-rich trading amongst themselves keeping this ball in the air. London YoY is 6%.. skewing the stats further. Again, look.. the FTB lower end market is on it's ar5e.. it's just the upper end skewing the stats. Yet a significant majority of London Boroughs are showing falls. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 31, 2011 Author Report Share Posted January 31, 2011 Pardon? Tongue In Cheek By The Way The snow is being blamed in just about every data set at the moment.... Quote Link to comment Share on other sites More sharing options...
Cozza Posted January 31, 2011 Report Share Posted January 31, 2011 Very good point. With so few sales, the higher end houses are hiding the falls at the lower end. It looks like between Oct 09 - Oct 10, sales of properties costing £150,000 - £300,000 have dropped off a cliff Quote Link to comment Share on other sites More sharing options...
AnotherBear Posted January 31, 2011 Report Share Posted January 31, 2011 Average price £164,773 Change Monthly -0.2% Annual 1.5% http://www.landregistry.gov.uk/www/wps/portal/PrimaryWebsite Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 31, 2011 Report Share Posted January 31, 2011 Tongue In Cheek By The Way The snow is being blamed in just about every data set at the moment.... Ah ok. Can't blame the snow for this, the majority of these sales would have been agreed around September. Quote Link to comment Share on other sites More sharing options...
Constable Posted January 31, 2011 Report Share Posted January 31, 2011 Link Quote Link to comment Share on other sites More sharing options...
Constable Posted January 31, 2011 Report Share Posted January 31, 2011 Yet a significant majority of London Boroughs are showing falls. Wandsworth is typical of aspiring middle class London boroughs. The bull trap is just ending for them. Asking prices are still a joke in these places and volume has plunged. If you were trading a security the price would most likely have crashed by now - we all know the reasons they haven't yet, but crash they will... Quote Link to comment Share on other sites More sharing options...
enrieb Posted January 31, 2011 Report Share Posted January 31, 2011 For anyone new to the forum here's a short video that explains how the land registry lags the other housing data. Introduction to house price surveys http://www.youtube.com/user/moneycontent#p/u/1/4vQln3YXWVo Quote Link to comment Share on other sites More sharing options...
jonboy2010 Posted January 31, 2011 Report Share Posted January 31, 2011 Down is down. Also remember that the LR figures lag behind a few months.Thats right these are probally october figures ie (pre snow) so the next one should make better reading. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted January 31, 2011 Report Share Posted January 31, 2011 Very good point. With so few sales, the higher end houses are hiding the falls at the lower end. Hard to believe the small handful of big houses are overpowering the effect of 10,000 fewer small houses. Seems more likely that fewer houses are selling, but not for much cheaper than they were last year. Quote Link to comment Share on other sites More sharing options...
jonboy2010 Posted January 31, 2011 Report Share Posted January 31, 2011 Hard to believe the small handful of big houses are overpowering the effect of 10,000 fewer small houses. Seems more likely that fewer houses are selling, but not for much cheaper than they were last year. Seeing a lot of 300000 plus houses selling in the kent area but nothings moving in the 150-250 mark. Quote Link to comment Share on other sites More sharing options...
fellow Posted January 31, 2011 Report Share Posted January 31, 2011 (edited) Hard to believe the small handful of big houses are overpowering the effect of 10,000 fewer small houses. Seems more likely that fewer houses are selling, but not for much cheaper than they were last year. If the price of every house remained the same, the huge decrease in lower priced house sales and significant increase in higher priced house sales would cause quite a large increase in the overall YoY figure. If you take this shift into account, prices must be falling much more rapidly than the figures show. Edited January 31, 2011 by fellow Quote Link to comment Share on other sites More sharing options...
Tricksy Posted January 31, 2011 Report Share Posted January 31, 2011 (edited) Hard to believe the small handful of big houses are overpowering the effect of 10,000 fewer small houses. You're right about this, they don't. The data in the table tells us that the overall is not significantly skewed by the upper end. Back of an envelope indexing shows that changes in the £1m+ bracket account for just 8% of the overall, whilst the <£500k group accounts for nearly 80%. The high volumes in the lower price range easily overpower the smaller number of high value transactions at the upper end. Seems more likely that fewer houses are selling, but not for much cheaper than they were last year. Yep. The table shows this quite clearly. 15% fewer transactions, with reductions concentrated at the lower end. So I'm afraid that this data doesn't tell us that big falls at the lower end are being obscured by increases (or even stability) at the high end. It does tell us that transaction volumes for <£500k properties are down significantly, perhaps because the spread between buyers and sellers has become too wide. It is reasonable to conclude that market-clearing prices are presently below sellers expectations. But then we knew that already didn't we....? Edited January 31, 2011 by Tricksy Quote Link to comment Share on other sites More sharing options...
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