Digsby Posted April 18, 2016 Share Posted April 18, 2016 "Monthly house prices down 0.5% since February 2016" https://www.gov.uk/government/publications/about-the-house-price-index/about-the-house-price-index#house-price-index-release-dates Quote Link to comment Share on other sites More sharing options...
long time lurking Posted April 18, 2016 Share Posted April 18, 2016 All down to the referendum no doubt Quote Link to comment Share on other sites More sharing options...
Pablo Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
MrMonkey Posted April 18, 2016 Share Posted April 18, 2016 Gotta love that spring bounce. Quote Link to comment Share on other sites More sharing options...
suntory Posted April 18, 2016 Share Posted April 18, 2016 "Monthly house prices down 0.5% since February 2016" https://www.gov.uk/government/publications/about-the-house-price-index/about-the-house-price-index#house-price-index-release-dates Down by 0.5% you say. ****** me. That is good news. Let the games begin. Come in. This has got to be it now. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted April 18, 2016 Share Posted April 18, 2016 (edited) 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 April 18, 2016 by long time lurking Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 18, 2016 Share Posted April 18, 2016 it's 3 months behind so must have been dropping at the end of the year. Quote Link to comment Share on other sites More sharing options...
65243 Posted April 18, 2016 Share Posted April 18, 2016 LR represents the true state of the market. The other indices are essentially PR exercises for their VI owners. Basically, this is it. Quote Link to comment Share on other sites More sharing options...
Guest missness Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
Guest missness Posted April 18, 2016 Share Posted April 18, 2016 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 Quote Link to comment Share on other sites More sharing options...
suntory Posted April 18, 2016 Share Posted April 18, 2016 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!!! Quote Link to comment Share on other sites More sharing options...
MonkeyPuzzle Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
suntory Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted April 18, 2016 Share Posted April 18, 2016 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 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
latterdaysinner Posted April 18, 2016 Share Posted April 18, 2016 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). Quote Link to comment Share on other sites More sharing options...
Dorkins Posted April 18, 2016 Share Posted April 18, 2016 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. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 18, 2016 Share Posted April 18, 2016 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 Quote Link to comment Share on other sites More sharing options...
long time lurking Posted April 18, 2016 Share Posted April 18, 2016 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 Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 19, 2016 Share Posted April 19, 2016 and I thought it was Brexit that was supposed to result in drops. Quote Link to comment Share on other sites More sharing options...
nome Posted April 19, 2016 Share Posted April 19, 2016 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? Quote Link to comment Share on other sites More sharing options...
ccc Posted April 19, 2016 Share Posted April 19, 2016 sales that were not for full market value Who decides this ? Quote Link to comment Share on other sites More sharing options...
OdoKosh Posted April 19, 2016 Share Posted April 19, 2016 ^ 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). Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted April 19, 2016 Share Posted April 19, 2016 ^ 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). Does this avoid SDLT? Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted April 19, 2016 Share Posted April 19, 2016 Does this avoid SDLT? Isn't Inheritance Tax on the whole estate payable instead? Quote Link to comment Share on other sites More sharing options...
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