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TheCountOfNowhere

Bbc Breaking News....house Price Up.

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HOUSE PRICES09:33: Breaking news

Average house prices in England and Wales rose 8.4% in the year to August to £177,824, according to Land Registry figures. That's still quite a bit below the November 2007 peak of £181,383.

"quite a bit below the November 2007 peak of £181,383."

£181,383 - £177,824, = £3559.

So £3.5K is quite a bit but £177K is nothing to worry about.

How does that "quite a bit" compare to those bargain london prices.

The Mom must have been low since they have switched to the YOY figures. :rolleyes:

Breaking news...wasn;'t this info available weeks ago via the twitter feed ?

Edited by TheCountOfNowhere

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It's just a big game to them:

"HOUSE PRICES

09:59:

We've just been spending the past few minutes playing Land Registry Roulette here on Business Live and thought we'd open it out. So, answers please to the following question: name the three boroughs in the bonkers London property market that have seen the greatest house price growth in the past year. We'll give you the answer later. no peeking at the figures as usual. Your prize will be the respect and admiration of us all.bizlivepage@bbc.co.uk."

I have nothing buy contempt for these people

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It's just a big game to them:

"HOUSE PRICES

09:59:

We've just been spending the past few minutes playing Land Registry Roulette here on Business Live and thought we'd open it out. So, answers please to the following question: name the three boroughs in the bonkers London property market that have seen the greatest house price growth in the past year. We'll give you the answer later. no peeking at the figures as usual. Your prize will be the respect and admiration of us all.bizlivepage@bbc.co.uk."

I have nothing buy contempt for these people

I believe that bastion of English culture where women can walk safely home at night that is Tower Hamlets is near the top this year.

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So prices in London rose 2.7% months in June?

https://www.gov.uk/government/news/august-2014-market-trend-data

[edit] full report: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/357080/HPIReport20140922.pdf

  • Average house price in England and Wales now £177,824 compared with the peak of £181,383 in November 2007
  • Annual growth of 8.4 per cent in August
  • House prices up 1.0 per cent since July
  • 794 repossessions in England & Wales during June 2014
  • Over 82,600 residential properties in England and Wales lodged for registration in August ranging from £13,000 to £24.5m

The August data from Land Registry’s House Price Index shows an annual price increase of 8.4 per cent which takes the average property value in England and Wales to £177,824. House prices up 1.0 per cent since July. Repossession volumes decreased by 36 per cent in June 2014 to 794 compared with 1,238 in June 2013.

  • The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 21.6 per cent.
  • London also experienced the greatest monthly rise with a movement of 2.7 per cent.
  • North East saw the lowest annual price growth with a movement of 3.0 per cent.
  • Both South West and North West saw the most significant monthly price fall of 0.1 per cent.
  • The most up-to-date figures available show that during June 2014 the number of completed house sales in England & Wales increased by 11 per cent to 73,158 compared with 66,123 in June 2013.
  • The number of properties sold in England and Wales for over £1 million in June 2014 increased by 34 per cent to 1,135 from 848 in June 2013.
  • The region with the greatest fall in repossession sales in June 2014 was the East
Edited by Wurzel Of Highbridge

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So we're nearly back to the price point where there was a financial crisis, Northern Rock collapsed and two other banks had to be taken over by the State.

Happy days!

Theyll try and explain to us simpletons that inflation means we are well off that mark .... unfortunately its not wage inflation thats been rampant in the intervening 7 years.

The BBC really are scumm

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They are now ramping for all their worth:

http://www.bbc.co.uk/news/business-29374969

"

House prices accelerated in August, says Land Registry"

It's accelerated now...c***s. They should be held responsible for every saver and buyer who has lost money in the last 20 years.

No mention of:

1) Time lag

2) Supply went mental, demand went to 0

3) Prices too high

4) HTB should be scrapped.

5) The damage this is doing

6) How insane it is to compare prices to the level that caused a calamitous collapse

Where are the journalists at the BBc ?

Edited by TheCountOfNowhere

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So we're nearly back to the price point where there was a financial crisis, Northern Rock collapsed and two other banks had to be taken over by the State.

Happy days!

Yeah! Except thanks to QE every other damn living cost is about 50% more expensive now, so it'll only take rates going to 2% instead of 5% to put everyone in the shitter.

Good Job, osbrown.

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Yeah! Except thanks to QE every other damn living cost is about 50% more expensive now, so it'll only take rates going to 2% instead of 5% to put everyone in the shitter.

Good Job, osbrown.

House prices back at 2007. Cost of living up 20%. Wages down,

Government pre-election borrowing accelerating.

Doesn't take much of brain to work out we are going to have another crisis.

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Typical BBC hype. Telegraph is reporting that house prices have started to fall:

http://www.telegraph.co.uk/finance/economics/11121726/House-prices-have-finally-started-to-fall-after-two-years.html

The telegraph is using Hometrack figures from the last 30 days, where as the BBC are using 3 months old landregistry figures wheeled out as fresh 'August' data.

The land registry data (whihc is 3 months old) includes people desperately spending the pre-mmr approved mortgage before they expired.

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BBC think high house prices are good...the higher the better, they should remember we all help to enable them to pay the high prices, they can afford it because we are all paying for it. ;)

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As others have pointed out, hometrack out today demonstrating that the London party seems to be over. Land regsitry are lagging figures that take in rush when HTB2 with no limit on buyers' income and 600k mortgage available before MMR which allowed the 30% ish rises London zones 3 - 6 ish.

BBC should also report land registry figure without London included as a matter of course.

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The telegraph is using Hometrack figures from the last 30 days, where as the BBC are using 3 months old landregistry figures wheeled out as fresh 'August' data.

The land registry data (whihc is 3 months old) includes people desperately spending the pre-mmr approved mortgage before they expired.

It does look like a not so subtle attempt to bury the Hometrack figures.

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