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exiges

Dclg - House Prices Crash 1.1% Mom

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http://www.communities.gov.uk/documents/statistics/pdf/1921628.pdf

Looks like London, and those with equity are the only people keeping this plate spinning.

The latest UK house price index statistics produced by the Department for Communities and Local Government were released on Tuesday 14 June 2011.

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

The key points from the release are:

In April UK house prices decreased by 0.3 per cent over the year and decreased by 1.1 per cent over the month (seasonally adjusted).

The average mix-adjusted UK house price was £204,439 (not seasonally adjusted)

Average house prices were 0.3 per cent lower over the quarter to April, compared to a quarterly decrease of 0.4 per cent over the quarter to January (seasonally adjusted)

Average prices remained unchanged during the year in England but decreased in Scotland (-1.2 per cent), Wales (-1.4 per cent) and Northern Ireland (-15.2 per cent)

Prices paid by first time buyers were 1.6 per cent lower on average than a year earlier and prices paid by former owner occupiers increased by 0.2 per cent

Prices for new properties were 4.2 per cent higher on average than a year earlier whilst prices for pre-owned dwellings decreased by 0.6 per cent.

Edited by exiges

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http://www.communities.gov.uk/documents/statistics/pdf/1921628.pdf

Looks like London, and those with equity are the only people keeping this plate spinning.

I never know what to make of the DCLG survey. It is based on some reality, being mortgage completions, but their mix adjustment seems a bit suspect given the deviation from Haliwide ( I know they are both approvals, but still a 25% shift needs some explaining).

EDIT: Cheers for posting though Exiges, it seems that everything is going in the right direction, even if the details of the methodology are not clear.

Edited by cheeznbreed

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I never know what to make of the DCLG survey. It is based on some reality, being mortgage completions, but their mix adjustment seems a bit suspect given the deviation from Haliwide ( I know they are both approvals, but still a 25% shift needs some explaining).

EDIT: Cheers for posting though Exiges, it seems that everything is going in the right direction, even if the details of the methodology are not clear.

Definitely a lot bearish data out today DCLG, CML, RICS. Agreed everything is going in the right direction we just have to have patience.

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Definitely a lot bearish data out today DCLG, CML, RICS. Agreed everything is going in the right direction we just have to have patience.

Yes indeed, the tide is at last turning.

Because sentiment is so important in the housing market, hopefully all this bearish data will help those prices crash even quicker now.

This 1.1% down in a month from a survey based on completions is a good way to start. :)

I wonder what the real figures would be, if the DCLG included auctions?

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Yes indeed, the tide is at last turning.

Because sentiment is so important in the housing market, hopefully all this bearish data will help those prices crash even quicker now.

This 1.1% down in a month from a survey based on completions is a good way to start. :)

I wonder what the real figures would be, if the DCLG included auctions?

Or even It included cash purchases. It's based on Council of Mortgage Liars data.

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How are these figures calculated?

For example, the house I'm buying last changed hands 8 years ago. How would my house figure in these calculations in terms of whether it's gone up or down? or is it done by adding all the sale prices up and dividing by number of units

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Because sentiment is so important in the housing market, hopefully all this bearish data will help those prices crash even quicker now.

Except, vendors will still think their house defies this because it's got great schools, is in a must-have area.. blah blah

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  • 312 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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