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Sancho Panza

LCP Acadata April 18: -0.4% MoM, 3.4% annual.Sales down 15.4% QoQ

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PRIME CENTRAL LONDON (PCL)
TRANSACTIONS HIT ANOTHER LOW AND NEW BUILD SALES PLUMMET
  • Following a strong January, due to some exceptionally high value sales, prices in PCL fell back by 4.6% in February.
  • Average prices now stand at £2,165,829.
  • Quarterly transactions dropped by 2.3% to 974.
  • On an annual basis, transactions are down by 5.7%, now standing at just 4,176.
  • The new build sector has suffered a 13.8% fall in transactions over the year.
  • Quarterly transactions fell by 56%, now standing at just 88.
GREATER LONDON
MONTHLY PRICES DOWN AND TRANSACTIONS CONTINUE TO FALL
  • Prices fell in Greater London by 1% month on month.
  • The average price now stands at £625,052.
  • Annual price growth has fallen to 6.5%, with growth in the last quarter standing at just 2%.
  • There has also been a significant drop in quarterly sales of 10.4%, the largest fall since August 2016.
  • Quarterly new build prices have fallen by 3.5% and represent just 15.6% of all sales, compared with a peak of almost 20%.
  • The average new build price is now £641,711.
England and Wales
ENGLAND & WALES SEES FOURTH CONSECUTIVE QUARTERLY FALL IN PRICES AND TRANSACTIONS
  • Monthly prices fell by 0.4%
  • Quarterly price growth dropped 0.5%, the fourth consecutive fall.
  • As a result, annual price growth is just 3.4%.
  • Average prices now stand at £290,624.
  • Quarterly sales fell by 15.4%, also the fourth consecutive quarterly fall.
  • New build prices have seen a 2% decline in quarterly prices and a fall in annual sales of 1%.
  • The average new build price is now £338,694, 15.8% higher than existing stock.
ENDS

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2 hours ago, Sancho Panza said:

Quarterly new build prices have fallen by 3.5% and represent just 15.6% of all sales, compared with a peak of almost 20%.

Could be stamp duty or increasing awareness of HTB risks. Overall price and transaction number trends are looking good, still needs to build momentum.

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12 hours ago, TonyJ said:

All looking pretty good. Do they publish stats for individual regions? I couldn't find any links on their website.

LSL-who also use Acadata but iirc don't include new build data- publish regional data.Acadata uses land reg sale prices so both of these indices are infinitely superior to Halifax and Nwide.

LSL due out around the 12th of the month.

10 hours ago, darkmarket said:

Could be stamp duty or increasing awareness of HTB risks. Overall price and transaction number trends are looking good, still needs to build momentum.

New build trends are a marginal area of the market(like top end),hence why LCP Aca report is so interesting.

I think -as you allude-HTB has drawn in the bulk of those who would be drawn by it.Other people are more circumspect,particualrly since the first HTBers have seen mortgage costs rise.

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  • 301 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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