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Digsby

Land Registry Hpi: March Headline Figure

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I must admit I am a little surprised, I thought the pre April BTL buying spree would have resulted in some 'strong figures' and then it would fall over the coming months.

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I must admit I am a little surprised, I thought the pre April BTL buying spree would have resulted in some 'strong figures' and then it would fall over the coming months.

Three month lag with the LR stat`s these numbers will be more representative of sales agreed/completed at a guess December/January`ish?

Edited by long time lurking

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LR represents the true state of the market. The other indices are essentially PR exercises for their VI owners. Basically, this is it.

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Guest missness

The market down south has certainly topped. I sold my house in January for 226500, it was a renovation job, one up the road in a worse location and not so pretty went up for 265 in March, now fixed price at 250, still for sale, they won't get it. On the other hand a house I have just gone sale agreed on was up for 185, (next door has an extension and sold for 292, one across the road up for 325, another sale agreed 280) and there were 7 bids, mine was 196,500 cash buyers, one higher offer of 198 but need a mortgage. If it is priced to sell it will sell quickly but the days of silly prices down here are over.

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Guest missness

i have to say though i was tempted to put it back on at a higher price, thinking oh i could get an extra 10 for it in spring (it was up for 239), this was pre the second home deadline, but i stuck to the agreed price and am glad I did now as it is falling in line with the reductions now

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This upcoming LR report better ******ing deliver. I want some serious cracks to finally show up. I'm running out if patience. I have been doing this "it's going show up in the next LR report" thing for at least a year now and it is getting a bit of a joke. A ******ing joke it is.

So LR report, I'm herewith giving you an ultimatum: either you show a decline in London prices, or in the very least you show a decline in sales volume. If you can't deliver on at least one of those fronts, I will be really pissed off and I don't think I could forgive you for all the ******ing pain.

10 days and counting. Deliver!!!

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If this is a national downward figure, then I'd say the ONS 'figure readjustment' as reported in the Guardian a few days ago and posted on the home page (London average prices down a few grand in January, again in February, and again in March) was not simply a 'figure readjustment' or a 're-weighting' of their data, but a genuine set of figures that expose real drops in value.

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If this is a national downward figure, then I'd say the ONS 'figure readjustment' as reported in the Guardian a few days ago and posted on the home page (London average prices down a few grand in January, again in February, and again in March) was not simply a 'figure readjustment' or a 're-weighting' of their data, but a genuine set of figures that expose real drops in value.

That's what I'm hoping as well.

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This upcoming LR report better ******ing deliver. I want some serious cracks to finally show up. I'm running out if patience. I have been doing this "it's going show up in the next LR report" thing for at least a year now and it is getting a bit of a joke. A ******ing joke it is.

So LR report, I'm herewith giving you an ultimatum: either you show a decline in London prices, or in the very least you show a decline in sales volume. If you can't deliver on at least one of those fronts, I will be really pissed off and I don't think I could forgive you for all the ******ing pain.

10 days and counting. Deliver!!!

June /July`s report will reveal if the rush to BTL hysteria had any substance to it

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This upcoming LR report better ******ing deliver. I want some serious cracks to finally show up. I'm running out if patience. I have been doing this "it's going show up in the next LR report" thing for at least a year now and it is getting a bit of a joke. A ******ing joke it is.

So LR report, I'm herewith giving you an ultimatum: either you show a decline in London prices, or in the very least you show a decline in sales volume. If you can't deliver on at least one of those fronts, I will be really pissed off and I don't think I could forgive you for all the ******ing pain.

10 days and counting. Deliver!!!

What I ponder on a daily basis is when the collapse comes...and it will come...what this means for us all.

I think it's a little naive to think everyone will be rushing out getting 90% mortgages at decent rates to buy decent houses for ourselves.

The UK does not favour us little people.

I fear the UK housing market collapse is not the end but the beginning of a lot of problems.

I welcome the crash for my children's sake...not my own.

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What I ponder on a daily basis is when the collapse comes...and it will come...what this means for us all.

I think it's a little naive to think everyone will be rushing out getting 90% mortgages at decent rates to buy decent houses for ourselves.

The UK does not favour us little people.

I fear the UK housing market collapse is not the end but the beginning of a lot of problems.

I welcome the crash for my children's sake...not my own.

I would hope that the average poster on this site has more than a 10% deposit stashed away after accounting for price falls to a reasonable level. I'm more worried about how long it will take and dying of boredom in the meanwhile. All decent crashes that I know of (HK, Tokyo, London in the early 90s, etc.) have taken about 4-5 years to play out).

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I would hope that the average poster on this site has more than a 10% deposit stashed away after accounting for price falls to a reasonable level. I'm more worried about how long it will take and dying of boredom in the meanwhile. All decent crashes that I know of (HK, Tokyo, London in the early 90s, etc.) have taken about 4-5 years to play out).

The UK needs at least a 50% HPC to return to housing cost sanity, more like 70-80% HPC in much of London/SE. If that happens over 4-5 years I think dying of boredom will be the least of your worries.

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1.11.1 Data excluded from the House Price Index and Price Paid Data

  • all commercial transactions. (BTL under company?)
  • sales that were not for full market value
transfers, conveyances, assignments or leases at a premium with nominal rent which are:‘Right to buy’ sales at a discount.subject to a leasesubject to an existing mortgagebuy to let (where they can be identified by a mortgage deed)to effect the sale of a share in a propertyby way of a giftunder a Compulsory Purchase orderunder a court orderto Trustees appointed under Deed of appointmentVesting Deeds Transmissions or Assentsof more than one propertyleases for seven years or less

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1.11.1 Data excluded from the House Price Index and Price Paid Data

  • all commercial transactions. (BTL under company?)
  • sales that were not for full market value
  • transfers, conveyances, assignments or leases at a premium with nominal rent which are:
  • ‘Right to buy’ sales at a discount.
  • subject to a lease
  • subject to an existing mortgage
  • buy to let (where they can be identified by a mortgage deed)
  • to effect the sale of a share in a property
  • by way of a gift
  • under a Compulsory Purchase order
  • under a court order
  • to Trustees appointed under Deed of appointment
  • Vesting Deeds Transmissions or Assents
  • of more than one property
  • leases for seven years or less

Highlighted in cream/yellow on here https://houseprices.io/

The data they have released only goes back to 2013 IIRC

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and I thought it was Brexit that was supposed to result in drops.

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LR represents the true state of the market. The other indices are essentially PR exercises for their VI owners. Basically, this is it.

I'd question just how accurate a representative the LR figures really are... according to LR headline figures Anglesey prices have fallen in the last year (only by <1% but still a fall)

Yet when I put Anglesey into the LR Price calculator and set the time scale for the last 12 months it shows prices have risen 14.4%!

Am I doing something wrong or misinterpreting the figures?

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  • sales that were not for full market value

Who decides this ?

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^ its usually declared on the relevant transfer deed or assent (a document used where ownership of a property is simply passed to the beneficiaries of an estate).

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