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D C L G - Huge Drop In Y O Y


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Looks massive. How large is the set of data behind this, what is it covering? How do they get their data?

TBH, I think ForexFactory have made a mistake.

EDIT: So do these people:

http://www.financemarkets.co.uk/2011/02/16/dclg-house-prices-up-0-5-in-december/

Edited by Timm
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http://www.communities.gov.uk/publications/corporate/statistics/hpi012011

Summary

The latest UK house price index statistics produced by the Department for Communities and Local Government were released on Tuesday 15 March 2011.

The latest statistics release includes data based on mortgage completions during the month of January 2011.

The key points from the release are:

* In January UK house prices increased by 0.5 per cent over the year but decreased by 1.4 per cent over the month (seasonally adjusted).

* The average mix-adjusted UK house price was £208,552 (not seasonally adjusted).

* Average house prices were 0.4 per cent lower over the quarter to January, compared to a quarterly decrease of 0.2 per cent over the quarter to October (seasonally adjusted).

* Average prices increased during the year in England (1.0 per cent), but decreased in Wales (-1.8 per cent), Scotland (-3.2 per cent) and Northern Ireland (-14.1 per cent).

* Prices paid by first time buyers were 1.5 per cent higher on average than a year earlier whilst prices paid by former owner occupiers increased by 0.1 per cent.

* Prices for new properties were 8.6 per cent higher on average than a year earlier whilst prices for pre-owned dwellings decreased by 0.1 per cent.

http://www.communities.gov.uk/documents/statistics/pdf/1864282.pdf

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TBH, I think ForexFactory have made a mistake.

EDIT: So do these people:

http://www.financema...-5-in-december/

Someone is wrong here - one side is saying down 0.5% in a month while others are saying the YoY is down to 0.5%. Economists getting things wrong? Who'd have thunk it...

Six months ago, we were saying Forex Factory had got the Halifax 3.6% plummet wrong, but they hadn't...

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Well, that's goodnight Vienna.

And rates haven't started to rise yet.

If the Japanese are selling assetts as fast as it looks, bond rates may already be rising...

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It's good news for bears!

And we have yet to see what the repurcussions of the black swan events in Japan will have on the UK, shares and its property market.

*******************************************

http://uk.reuters.com/article/2011/03/15/uk-britain-propery-dclg-idUKTRE72E2JH20110315

(Reuters) - House prices fell by 1.4 percent on a seasonally-adjusted basis in January, causing the year on year rate of growth to slow to 0.5 percent, government figures showed on Tuesday.

The Department for Communities and Local Government said the average price of a home stood at 208,552 pounds in January. Prices in the three months to January were 0.4 percent lower, compared to a 0.2 percent fall in the three months to October, DCLG added.

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Well, having viewed a few houses in the last few months as a FTB, a few of them are landlords selling. One EA admitted a landlord with a large portfolio "all over" including properties in Ireland was reducing his portfolio size to raise cash.

My Landlord also wants to sell also.

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