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rantnrave

Land Reg October -0.2%

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Not sure if this has already been posted?

Our October HPI shows a monthly change of -0.2%. Average house price in England and Wales is now £165,515. Full #HPI out 28 Nov

It was up a big 1.5% last month, so it's hard to draw many conclusions IMO. Not sure how the seasonal adjusting has been applied here either.

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No way, the daily express and my local friendly estate agent told me prices are going up.

You HPC boys are all the same, lies lies lies

:P

While I hate HPI and media ramping, I think the recent 'rises' have attracted a much-welcome discussion across the country about bubbles, affordability etc. This conversation is long, long overdue.

I also think a dose of rapid HPI now is better in the longer-run to bring about a chance of sentiment in TPTB that will finally see sanity in prices return.

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While I hate HPI and media ramping, I think the recent 'rises' have attracted a much-welcome discussion across the country about bubbles, affordability etc. This conversation is long, long overdue.

I also think a dose of rapid HPI now is better in the longer-run to bring about a chance of sentiment in TPTB that will finally see sanity in prices return.

I agree. It certainly raised my in laws eye brows when I went mental at them for telling me I should be buying a house and as a cash buyer should be able to get a good deal.

Not sure they are speaking to me now :rolleyes:

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I agree. It certainly raised my in laws eye brows when I went mental at them for telling me I should be buying a house and as a cash buyer should be able to get a good deal.

Not sure they are speaking to me now :rolleyes:

Now I understand why you locked your money away for a year.

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Last month's average was £167,063 so a non seasonally adjusted fall of just under 1%.

£167,063 was the number LR tweeted last month – it's the seasonally adjusted figure.

Assuming that the £165,515 is also the SA number then this would imply that September's average has been revised down from £167,063 to approx £165,850.

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This is certainly worth a mention rantrave. I assumed this one would start to pick up to reflect the activity we got in the late summer, as the data lags. But the lagging excuse is starting to wear a bit thin as it continues to show the market going nowhere and therefore probably close to an inflation adjusted low since the peak.

Great propoganda for more QE, HTB and ZIRP though. I'm sure this one will be the one the Tories and Carney quotes.

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Not sure if this has already been posted?

It was up a big 1.5% last month, so it's hard to draw many conclusions IMO. Not sure how the seasonal adjusting has been applied here either.

Have you got a link? Perhaps on the BBC website? :D

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£167,063 was the number LR tweeted last month – it's the seasonally adjusted figure.

Assuming that the £165,515 is also the SA number then this would imply that September's average has been revised down from £167,063 to approx £165,850.

There has been a flurry of activity in house sales. What I have noticed is this: there has been easy sales on the lower priced properties - in fact most round me are under offer or 'sold'. But, AS SOON AS YOU REACH THE PRICE of about £350k or more, the market is very quiet and much slower. People do not have sufficient income multiples to buy above this in general.

The new homes near me are moving but slowly. Who wants to pay £419k for a 4 bed box with virtually no garden? You will take years to show any 'profit' and it may even fall as rates rise.

The other thing is that ONLY 2000 HAVE USED HELP TO BUY, since it was brought forward. I find that figure very small - many house builders say they have hardly noticed it even though it applied to new build since March.

So I think the glass ceiling may be in.

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Swansea -1.2% monthl, -5% annually yet the feckers are ramping asking prices like no tomorrow.

One EA I know of has nearly 50 properties under offer but most have been under offer since May to August time. It is now December... well, in a day or two.

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Swansea -1.2% monthl, -5% annually yet the feckers are ramping asking prices like no tomorrow.

One EA I know of has nearly 50 properties under offer but most have been under offer since May to August time. It is now December... well, in a day or two.

Swansea -1.2% monthl, -5% annually yet the feckers are were ramping asking prices like no tomorrow until the FLS rug was pulled.

corrected for accuracy,

There was no tomorrow for them yesterday. :lol:

Edited by TheCountOfNowhere

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I was surprised that the monthly change for Wales in the latest Land Registry report was +2.4%.

Yet none of the 22 areas in Wales recorded a monthly change as high as +2.4% and many of the areas were minus.

This seems like strange maths- can anyone explain this?

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I was surprised that the monthly change for Wales in the latest Land Registry report was +2.4%.

Yet none of the 22 areas in Wales recorded a monthly change as high as +2.4% and many of the areas were minus.

This seems like strange maths- can anyone explain this?

This is a common query that comes up with the LR stats.

The regional statistics (Wales, North West, South East etc.) are based on the latest month to month change, but the changes for counties, unitary authorities, metropolitan district councils and London boroughs are rolling four-month averages of the price changes over one month.

Without using rolling averages these smaller areas would show high price volatility due to the low number of monthly transactions.

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This is a common query that comes up with the LR stats.

The regional statistics (Wales, North West, South East etc.) are based on the latest month to month change, but the changes for counties, unitary authorities, metropolitan district councils and London boroughs are rolling four-month averages of the price changes over one month.

Without using rolling averages these smaller areas would show high price volatility due to the low number of monthly transactions.

Thanks for the clear explanation.

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