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Feb Land Reg - Up 0.5% Mom

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Closing in on the 2007 peak:

  • Our February HPI shows a monthly change in England & Wales of 0.5%. Full HPI out 9.30am on 27 March
  • Average February house price in England & Wales is £180,252, compared with a peak of £181,083 in November 2007
  • The average price of property in England and Wales has gone up £11,003 since February 2014

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Closing in on the 2007 peak:

MIND BOGGLING.

Let me guess...last months figure adjustred down. London going down...the SE/Shires going up.

You can just see it coming....

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P.S. Is the peak of 2007 liek some kind of target ?

The near new peak is basically....London mega bubble up 50% since 2007, some places down 5% since 2007 and everywhere else down 10%-50% since 2007.

This is one sick country.

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MIND BOGGLING.

Let me guess...last months figure adjustred down. London going down...the SE/Shires going up.

You can just see it coming....

As is often noted, the housing market is like a big tanker - turns happen slowly. At the moment, there are a lot of mixed singles out there. Some reports show a clearly slowing market while others suggest full speed ahead. This is consistent IMO with a change of momentum.

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As is often noted, the housing market is like a big tanker - turns happen slowly. At the moment, there are a lot of mixed singles out there. Some reports show a clearly slowing market while others suggest full speed ahead. This is consistent IMO with a change of momentum.

IM with you on that.

I think what we are going to see now is the london market falls starting to accelerate followed by a drops in the shires followed by fast drops everywhere.....or they will prop the market up again for another 18 months with a 2nd tier of the pyramid hand out....

Edited by TheCountOfNowhere

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Lets not forget, the figure was 1.3% last month. I started seeing my areas outside London weakening mid February, so I'm confident that this 0.5% at least will be adjusted down, and for it average 0.5% across the regions, there are clearly going to be more regions than last month with "negative growth" (it was 3 of the 10 last month).

That figure of £11,003 implies the YoY rise being 6.5%, down from last months 6.7% - slightly disappointing, but still, it's strong evidence that the rest of the country is starting to follow London that's hard for the media to ignore (though clearly they'll be concentrating on the comparison to 2007 prices).

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(though clearly they'll be concentrating on the comparison to 2007 prices).

Yes,. they are comparing it to the level that collapsed the banking system, sure we have 4% interest rates but disposable income was much higher ....

Edited by TheCountOfNowhere

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As is often noted, the housing market is like a big tanker - turns happen slowly. At the moment, there are a lot of mixed singles out there. Some reports show a clearly slowing market while others suggest full speed ahead. This is consistent IMO with a change of momentum.

Is it because a single income isn't enough to buy a house now? So singles are mixing to get joint income mortgages?

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Insanity. I have been looking at several areas to buy (South-East and South-West) and asking prices are approx 30% higher than sold prices in the same streets two years ago.

Having a chat with a Good Mate earlier, he was talking to me on his mobile while meeting an estate agent, looking to buy another buy-to-let. The house had already had an offer of 5% over the asking price and it is a deceased estate dump. He was laughing with me as he was being shown around. He knows the score and is fully aware of the insane bubble and was likening the current craziness to 2007.

He very much treats life as a game, had some horrible knocks as a Kid, is well read, understands the state of the economy / government debt / Ramping / help to buy etc and has managed to make a lot of money through various internet businesses but plays at being a landlord for another income stream and the buzz. Even with a knowledge of the distorted market, he has dived into property and it is paying off for him. He doesn't really need the cash, as he is independently wealthy.

I think he is a microcosm of the whole sickness of the housing market. It is treated like a high risk game, only unlike 99% of the population, he is well positioned for any crash by having currency.

What the hell is going to save the banks and the public this time? Yet more Printy Printy? It is going to be carnage again. Osbourne should be locked up.

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I believe Steve Keen quotes a household debt figure of around 170% of income as being critical, and indeed the UK maxed out just shy of that figure in 2007.

Plainly, Osborne has designs on testing that limit in the course of the next five years.

Household_debt_to__3127662b.jpg

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Insanity. I have been looking at several areas to buy (South-East and South-West) and asking prices are approx 30% higher than sold prices in the same streets two years ago.

Having a chat with a Good Mate earlier, he was talking to me on his mobile while meeting an estate agent, looking to buy another buy-to-let. The house had already had an offer of 5% over the asking price and it is a deceased estate dump. He was laughing with me as he was being shown around. He knows the score and is fully aware of the insane bubble and was likening the current craziness to 2007.

He very much treats life as a game, had some horrible knocks as a Kid, is well read, understands the state of the economy / government debt / Ramping / help to buy etc and has managed to make a lot of money through various internet businesses but plays at being a landlord for another income stream and the buzz. Even with a knowledge of the distorted market, he has dived into property and it is paying off for him. He doesn't really need the cash, as he is independently wealthy.

I think he is a microcosm of the whole sickness of the housing market. It is treated like a high risk game, only unlike 99% of the population, he is well positioned for any crash by having currency.

What the hell is going to save the banks and the public this time? Yet more Printy Printy? It is going to be carnage again. Osbourne should be locked up.

There's an anecdotal thread for that sort of nonsense.

Meanwhile, have a look at the shires is crashing thread....

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Every house in the only affordable part of Cambridge are now no longer affordable to anyone with a normal income.

Every single house at least 30% above previous 2007 peak.

http://www.rightmove.co.uk/property-for-sale/Cherry-Hinton.html?index=20

Just look at how little you get for your money. Ridiculous.

Same everywhere in the region. Lowest price for 2 bed house in cm23 east herts looks to be 230k. Lowest for 1 bed anything 150k. Average salary about 25k; for someone looking for first place 15-20k? Basically suggests nothing is affordable for any average young family or young person.

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Count, I am only reporting what I am seeing and that is asking prices massively on the up in areas I am watching. It is well out of control now and you know that once they go up, it is tougher to get back to new lows. It shouldn't be but the paradigm shifts with every deregulation and every contrived Bank of England / Government policy.

There are Chinese "Investors" buying up large swathes of flats in Bristol. Bristol is being marketed as a suburb/dormitory of London; still the prices rocket and The Government actively encourage the pricing out of indigenous Brits. When Boris Johnson is helping to sell London housing stock to the Chinese, you know the contempt for us is real. They have sold everything else, might as well sell our Fecking housing stock as well.

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Count, I am only reporting what I am seeing and that is asking prices massively on the up in areas I am watching. It is well out of control now and you know that once they go up, it is tougher to get back to new lows. It shouldn't be but the paradigm shifts with every deregulation and every contrived Bank of England / Government policy.

There are Chinese "Investors" buying up large swathes of flats in Bristol. Bristol is being marketed as a suburb/dormitory of London; still the prices rocket and The Government actively encourage the pricing out of indigenous Brits. When Boris Johnson is helping to sell London housing stock to the Chinese, you know the contempt for us is real. They have sold everything else, might as well sell our Fecking housing stock as well.

Sorry dude, just fishing out estate agents ;lol: We seem to have been EA troll free for far too long.

I dont disagree with you about the crazy asking prices, but they are just that, asking prices....the land registry doesn;t lie....selling prices in most of the country still 5-10%+ below the 2007 bubble peak.

Sure, the chinese might be buying but they have their own fiscal issues and the government wont give two hoots when the market crashes and foreigners are left with the losses.

Have a look on the shires are crashing thread....prices look to be coming down quicker than expected....

It;s a bubble....bubbles collapse...best not get involved.

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I used to take an active interest in all the house price datasets, physically keep my finger on the pulse and run all sorts of analysis that I used to share. I didn't want to do BTL but just genuinely wanted to buy a home for my family.

Just realised my last dataset update and piece of analysis was May 2014. Says a lot about how much I now care about buying a house in the UK...

Really glad I discovered that there are other options or I might be getting a little edgy about now.

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