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hurlerontheditch

Land Registry April 2019 -0.8% MOM

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UK house prices grew by 0.6% for the year to February 2019, compared to the year to January 2019, when prices fell 1.7%.

Average house prices in the UK fell by 0.8% between January and February 2019, compared with an increase of 0.3% in average prices during the same period in the previous year.

In London, prices fell by 3.8% over the year to February 2019, from a fall of 2.2% in January 2019.

The average price of a property in the UK for the month of February was £226,234.

 

http://landregistry.data.gov.uk/app/ukhpi

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Wouldn't want to be trying to offload a flat or maisonette right now...

Average price change by property type

Property type February 2019 February 2018 Difference
Detached £370,000 £366,752 0.9%
Semi-detached £228,795 £224,239 2.0%
Terraced £196,326 £194,649 0.9%
Flat or maisonette £219,910 £227,060 -3.1%
All £242,964 £241,989 0.4%
 

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Interesting to explore the data here:

http://landregistry.data.gov.uk/app/ukhpi/browse?from=2018-03-01&location=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Funited-kingdom&to=2019-03-01

There have been big falls in my neck of the woods:

Tower Hamlets is down 10% (from a peak in autumn 2017)

Hackney is down 12% (from a peak in autumn 2017)

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1 hour ago, rantnrave said:

Wouldn't want to be trying to offload a flat or maisonette right now...

Average price change by property type

Property type February 2019 February 2018 Difference
Detached £370,000 £366,752 0.9%
Semi-detached £228,795 £224,239 2.0%
Terraced £196,326 £194,649 0.9%
Flat or maisonette £219,910 £227,060 -3.1%
All £242,964 £241,989 0.4%
 

Which presumably would be a lot of people who later would be buying a detached.

Property Ladder etc etc

So logically those folks wont have to much money to make that leap further down the line.

Edited by Fromage Frais

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25 minutes ago, hurlerontheditch said:

comments are amusing..

 

https://www.bbc.co.uk/news/business-47960657

 

Hahahhahahahahaaha 

Think of the poor nurses who wont get paid if we cant sell houses

Hahahaha

Oh and i bet your accountant doesnt try and make you as  tax efficient as possible.

Quote

239. Posted byRuss

onJust now

We build a couple of houses a year - If we can't make a profit doing this then we won't build - simple. If you wan't more housing stock other than social housing then there has to be profit and don't forget from this profit we pay tax that goes to the nurses and police etc.[\quote]

Edited by Monkey

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https://www.theguardian.com/business/live/2019/apr/17/china-gdp-growth-economy-uk-inflation-house-prices-business-live

3h ago10:58

Brexit isn’t the only factor behind Britain’s house price slowdown.

Sharp cuts in tax breaks for buy-to-let landlords are another factor, experts say, as they’ve wiped out many of the profits from buying a house and renting it out.

Anne Bowden, housing partner at law firm Pinsent Masons, predicts that house prices will keep falling:

“The death of buy to let, increased stamp duty and the prospect of interest rate hikes combined with Brexit instability makes the downward trajectory of house prices predictable. This decline looks set to continue for the foreseeable future.

“One way to curtail non-resident buyers, who have stoked the residential property market in the south east, is to increase stamp duty further. While Government is consulting on this now, many would argue its impact will be minimal given the housing market is already in decline in London, particularly in the premium market. A one per cent surcharge is unlikely to reverse this trend in the short term.”

Lolz!!! 😁

 

Also, noticed the site keeps crashing...more traffic from BTL slumlords pooping their pants?

More Lolz!!! 🤣

 

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Quote

483. Posted byWinston Fahrenheit

on17 minutes ago

"Every penny I ever paid in mortgage (besides interest) is still there for me if and when i need it.

Every penny paid in rent is gone. "


We're heading for a house price collapse of 30% so I hope you brought 10-15 years ago because that's were prices are headed when you take account of REAL inflation.

Quote

488. Posted byTomTom

onJust now

Oh yes its great for young people but what of those who have just got mortgaged to the eyeballs with a help to buy loan on top for good measure - its these we should worry about as they have more to lose. lets hope this trend turns around soon!

will somebody please think of the children!!!

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I think April will be very interesting. The market is really moving, and I suspect lots of discounts will be feeding into that higher activity....this may be exacerbated by th news that prices are falling in the South East, and people cr@pping themselves so offloading at even greater discounts.

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22 minutes ago, Clarky Cat said:

The annual change graph is interesting as it seems to be showing a rapidly increasing trend downwards.

annual.png

are these annual change charts ever useful vs just seeing the actual price? You don;t really see the FTSE etc done like this

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6 minutes ago, PropertyMania said:

are these annual change charts ever useful vs just seeing the actual price? You don;t really see the FTSE etc done like this

I like both :)

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6 minutes ago, PropertyMania said:

are these annual change charts ever useful vs just seeing the actual price? You don;t really see the FTSE etc done like this

I think they're useful to look at. Its nice to see the line showing a steeping trajectory as it approaches zero.

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7 hours ago, Trump Invective said:

So its pretty much stagnation. Except if you're in London.

it's the rises in the north masking the falling prices i London and the South East...that's the truth of it...and they are only the ripple effects of the London and the SE Boom...when the tide goes out on that....where are London and the SE going to be then ?

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Just now, Spindler said:

it's the rises in the north masking the falling prices i London and the South East...that's the truth of it...and they are only the ripple effects of the London and the SE Boom...when the tide goes out on that....where are London and the SE going to be then ?

swimming naked

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Land registry data is 6 months out of date: 

They register this month, but the offer was made months ago. October 2018. 

The chart you need is the one showing numbers of os1's being ordered. That will show volumes collapsing in real time. 

What you have here is a snapshot of prices in about October 2018. 

It's collapsed since then. 

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2 hours ago, 24gray24 said:

Land registry data is 6 months out of date: 

They register this month, but the offer was made months ago. October 2018. 

The chart you need is the one showing numbers of os1's being ordered. That will show volumes collapsing in real time. 

What you have here is a snapshot of prices in about October 2018. 

It's collapsed since then. 

Indeed, the volume numbers seem to be hanging on, but those in particular are the last to show anything. The Land Registry's strength is that it is based on facts, actual prices paid. It's weakness is that it is more useful for historians than forecasters. Surely registration could be a faster, online process that doesn't take 3+ months.

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1 minute ago, Tulip_mania said:

The Land Registry's strength is that it is based on facts, actual prices paid. 

Apart from the ones they strip out because they are ‘below market value’.

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1 minute ago, Ghostly said:

Apart from the ones they strip out because they are ‘below market value’.

I though they actually started including repossessions (though given there are so few not a huge factor) though if Builders are selling at discount in bulk to Housing Associations it would be interesting to see if these are included or not.

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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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