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Mr Banks

Land registry UP 1.1% July 2017

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The land registry figures were announced this morning they were UP by 1.1% in the UK sales volumes were up year on year too.

https://www.gov.uk/government/news/uk-house-price-index-hpi-for-july-2017

So as expected for me there is no let up in the rising of prices. To be honest a few people were getting carried away ordering popcorn and ringside seats for a crash that shows little sign of materializing. For what it's worth the south east seems to be topping out but the midlands in particular are still red hot which confirms what I am seeing I suspect that south east is showing a maximum can be achieved in terms of earnings multiples and those other areas are playing catchup..

 

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6 hours ago, Mr Banks said:

The land registry figures were announced this morning they were UP by 1.1% in the UK sales volumes were up year on year too.

https://www.gov.uk/government/news/uk-house-price-index-hpi-for-july-2017

So as expected for me there is no let up in the rising of prices. To be honest a few people were getting carried away ordering popcorn and ringside seats for a crash that shows little sign of materializing. For what it's worth the south east seems to be topping out but the midlands in particular are still red hot which confirms what I am seeing I suspect that south east is showing a maximum can be achieved in terms of earnings multiples and those other areas are playing catchup..

 

(Emphasis added)

You've misread the report.

From the full summary:

Quote

In May 2017 the number of property transactions completed in the UK decreased by 0.5% when compared to May 2016. A lower level of transactions in May 2016 was associated with the introduction of the higher tax rate on additional properties introduced from 1 April 2016.

Source

Did you misunderstand the table of sales volumes?

59b820963ab54_LandRegsalesvolsMay2017.png.c5995b8e54029575ed2e18a3aacce0bf.png

Source

I realise that despite a distinct lack of humility you are just learning the ropes here so I'll help you out with some useful property market insider knowledge

  • May follows April
  • Down is not up

The property game is full of obscure technical details like these so just ask if you're not sure how to interpret a report and somebody will do their best to help you out.

 

 

Edited by Bland Unsight

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Omgggggg!

I'd better get all that money in my account that I've saved up over twenty years and spluuurge it all on a house before EVERYONE gets in on it! Massive gainz and boom times ahead woohoo! 

Just popping onto one of those mortgage comparison sites, then I'll get some viewings sorted before everyone jumps on the bandwagon! Wouldn't want to miss out!

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Just now, TheCountOfNowhere said:

Planning Jan next year...depends on purchase and couple of factors.

Good luck with it all Count.  I genuinely hope it all works out well for you.

Didn't you give France a go a few years ago?  I don't think I dreamt it.  What's different this time around?  Genuinely interested as we're planning on emigrating next year as well and want as much good/bad/ugly as I can get to ensure I'm well prepared.

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2 hours ago, Bland Unsight said:

59b820963ab54_LandRegsalesvolsMay2017.png.c5995b8e54029575ed2e18a3aacce0bf.png

Source

I realise that despite a distinct lack of humility you are just learning the ropes here so I'll help you out with some useful property market insider knowledge

  • May follows April
  • Down is not up

The property game is full of obscure technical details like these so just ask if you're not sure how to interpret a report and somebody will do their best to help you out.

 

 

:D

Everyone makes mistakes. However, it is written out in long sentences on the original web page:

Quote

Sales during May 2017, the most up-to-date HM Land Registry figures available, show that:

  • the number of completed house sales in England fell by 3.3% to 58,209 compared with 60,179 in May 2016
  • the number of completed house sales in Wales rose by 9% to 3,406 compared with 3,125 in May 2016
  • the number of completed house sales in London fell by 6.8% to 6,169 compared with 6,617 in May 2016

A big increase in Welsh transactions, then.

 

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10 hours ago, mrtickle said:

A big increase in Welsh transactions, property speculators desperately seeking yield

fixed that for you.

Chasing the (Welsh) Dragon.

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So transactions were down just under 7% for London in May compared with the previous year. Wasn't May 2016 already a low point in the market due to BTLers pushing forward purchases ahead of the stamp duty increase at the start of April?

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  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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