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Hometrack April figures released..

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Here.

Interestingly (and somewhat at odds with the most recent data from Halifax, Nationwide and the Land Registry) for the country as a whole they're stating growth at 5.1% YoY, 2.5% for the past three months and 0.6% MoM. I'd be interested to see their methodology given the differences with other sources, since the HT figures seem a bit more HPI-positive / optimistic.

Few cities have seen falls and most are hovering at about 0.5-0.7% MoM and few have seen sustained falls. However, Oxford has taken a hammering at -0.6% YoY, -4.9%(!) for the past three months and -1.2% MoM. The graphs show just how much this city has fallen off a cliff. Long may this trend continue and I hope that as with the last crash, the places that initially saw the fastest, largest growth ("desirable" SE locations such as Oxford and London) were also the first to begin their decline before the rest followed.

 

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https://www.hometrack.com/uk/insight/uk-cities-house-price-index/Print?nodeId=18735&type=methodology

According to this they use land reg data on pairs of price points for properties that have sold more than once so in theory should be fairly accurate. I can't speak for the other cities on the report but to be honest what I'm seeing in Nottingham over the last 6 - 12 months reflects what the report says ie strong price growth.

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1 hour ago, smiley1 said:

https://www.hometrack.com/uk/insight/uk-cities-house-price-index/Print?nodeId=18735&type=methodology

According to this they use land reg data on pairs of price points for properties that have sold more than once so in theory should be fairly accurate. I can't speak for the other cities on the report but to be honest what I'm seeing in Nottingham over the last 6 - 12 months reflects what the report says ie strong price growth.

Thanks - I'd guess that this differs from figures from the building societies which is just averaged across all the properties they've flogging new mortgages on that month, along with land registry sold data that also covers all types of properties sold.

Perhaps too much of an assumption to make but the most obvious difference between the two would appear to be the absence of new builds in the HT data; the difference in price / growth between sources suggesting that new properties have taken a big hit.. which I think was indeed the case according to the last LR report.

Similarly to your findings I'd say the mood around Oxford broadly reflects the HT figures too - while there's not a huge amount coming to market (in my modest price range at least) the stuff that's on is hanging around for a long time and there are a lot of reductions. A couple of agents I've spoken to recently also seem to think it's got very, very slow (in their own transparent, hopeful, upbeat way).

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