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Jason

Land Registry Q2 2006, +7.71% Yoy, +3.34% Qoq

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AVERAGE HOUSE PRICE IN ENGLAND AND WALES UP BY 7.71% TO £199,184 AND SALES UP BY 23.76%

Land Registry's latest residential property price report covering the period April to June 2006 published today, Tuesday 8 August 2006, shows the average house price in England and Wales was £199,184 an annual increase of 7.71 per cent compared to an annual increase of 5.43 per cent for the same period last year.

Sales in England and Wales were up by 23.76 per cent, compared with the same period in 2005. Sales in Greater London increased by 26.69 per cent.

The report compares average prices and volume of sales with those for the same quarter in 2005. It also gives a breakdown of the average sale prices of old and new properties by property type. The figures are taken into account by the Bank of England along with other housing market and economic indicators.

The following information is contained in the report:

England and Wales

· The average price increased by 7.71 per cent from £184,924 in 2005 to £199,184 for the same period in 2006.

· All economic regions in England and Wales showed an increase in average prices.

· The volume of sales increased by 23.76 per cent from 216,890 in 2005 to 268,430 for the same period in 2006.

· 1246 properties over £1 million were sold compared to 718 for the same period in 2005.

Greater London

· The average property price increased by 8.29 per cent from £293,349 in 2005 to £317,679 for the same period in 2006.

· The volume of sales increased by 26.69 per cent from 26,249 in 2005 to 33,254 for the same period in 2006.

· 795 properties over £1 million were sold compared to 454 for the same period in 2005.

England & Wales ------- £184,924 --- £199,184 --- 7.71%

NORTH ----------------------£124,055 --- £137,861 --- 11.13%

NORTH WEST ------------£132,015 --- £146,601 --- 11.05%

YORKS & HUMBER --- £133,692 --- £147,230 --- 10.13%

GREATER LONDON -- £293,349 --- £317,679 --- 8.29%

WALES ---------------------£138,329 --- £149,063 --- 7.76%

WEST MIDLANDS ------ £155,115 --- £164,576 --- 6.10%

SOUTH EAST ------------ £223,373 --- £236,915 --- 6.06%

SOUTH WEST ----------- £195,496 --- £205,768 --- 5.25%

EAST MIDLANDS ------- £149,683 --- £156,243 --- 4.38%

EAST ANGLIA ------------ £174,929 --- £181,925 --- 4.00%

Zip file contains spreadsheets.

The Spreadsheet "Land Reg - House Prices.xls" is my spreadsheet with the data just added.

Edited by Jason

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Ok, i'll provide links later.

This info is embargoed until midnight, but I have to show HPCers first!

Not good news...

oooh, go on, gissa clue!

is it down to "that London" or is everywhere going gangbusters? <_<

more importantly will Realistbear cut and paste that long list of areas which are going down into every post for the next three months... :P

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oooh, go on, gissa clue!

is it down to "that London" or is everywhere going gangbusters? <_<

more importantly will Realistbear cut and paste that long list of areas which are going down into every post for the next three months... :P

Expains the interest rate rise then or do you think Mervyn and his merry men were embargoed 2?

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http://icwales.icnetwork.co.uk/0100news/02...-name_page.html

Average house price knocking on £200k

Aug 7 2006

THE average property price in England and Wales increased to £199,184 between April and June, new figures showed today.
Prices rose 7.71% from £184,924 during the same period in 2005, according to the Land Registrys latest residential property price report.
All regions in England and Wales recorded a rise in the average price with the north of the country enjoying the biggest increases.
Property in the North climbed 11.13% in value from £124,055 between April and June last year to stand at £137,861 for the same period in 2006.
The North West also saw prices jump by 11.05% to £146,601 with Yorkshire and Humberside recording growth of 10.13% to £147,230.
At the other end of the scale, homes in East Anglia lifted 4% in value from £174,929 to £181,925. Average property prices in Greater London increased 8.29% from £293,349 to £317,679.
Terraced homes reported the biggest jump in value, up 10.44% from £143,512 to £158,493. Detached homes rose by 5.13% from £285,697 to £300,349, with flats up 6.69% from £174,052 to £185,703.
Sales in England and Wales also rose by 23.76% from 216,890 in 2005 to 268,430 for the second quarter of 2006.
In Greater London, sales jumped by 26.7% from 26,249 to 33,254.
Some 1,246 properties worth more than £1 million were sold during the period, compared to 718 during the same time at 2005. In Greater London, 795 homes over the £1 million mark were sold, up from 454 in 2005.

It is little wonder that bankruptcy is rocketing ahead. Repossessions will be gaining pace the more p[eople borrow to get on the ladder. No mention of my area or East Midlands either. Must be some good news as all I see in the newpapers are "price reduced" and "unexpectedly back on the market." If Jag goes down....... :o

With all the negative sentiment in the press with unemployment, debt, insolvency could Gordon be spinning the data to stop a panic?

Edited by Realistbear

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Ok, see header. All info there.

Not good news for us bears :angry: But after strong mortgage lending figures, positive figures were expected.

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oooh, go on, gissa clue!

is it down to "that London" or is everywhere going gangbusters? <_<

more importantly will Realistbear cut and paste that long list of areas which are going down into every post for the next three months... :P

Well, what is weird is that a lot of areas were going down for a very long time, now they are all going up?

weird....

Mate aborted his child, last week, not understanding why he couldn't afford a home.. depressed hard working professional.

Never been a burden to anyone at anytime.

The market is broken.

we know that.

THE ECONOMY CANNOT SUPPORT CURRENT PRICES (CONFIRMED FACT) THIS DOES NOT STOP PEOPLE FROM BORROWING TO BUY.

THE PROPORTION OF THOSE UNABLE TO REPAY THEIR LOAN IS ABOUT 50% OF ALL NEW FTB'S

(i made that up)..

~:)

what do you think happens next..

Weird though that all place now show a rise.

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There's some pretty strange figures in there.

For example:

Increase in all OLD properties: 4.89%

Increase in all NEW properties: -0.56%

Increase in ALL properties: 7.71%

Also, the tables indicate that the biggest percentage increase in sales VOLUMES is for the most expensive properties. If it's mainly the very expensive houses that are selling, it will significantly bias the average upwards.

There's much more to this report than just the headline figures.

Edited by NJP

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Well, what is weird is that a lot of areas were going down for a very long time, now they are all going up?

weird....

Mate aborted his child, last week, not understanding why he couldn't afford a home.. depressed hard working professional.

Never been a burden to anyone at anytime.

The market is broken.

we know that.

THE ECONOMY CANNOT SUPPORT CURRENT PRICES (CONFIRMED FACT) THIS DOES NOT STOP PEOPLE FROM BORROWING TO BUY.

THE PROPORTION OF THOSE UNABLE TO REPAY THEIR LOAN IS ABOUT 50% OF ALL NEW FTB'S

(i made that up)..

~:)

what do you think happens next..

Weird though that all place now show a rise.

apom, you are the king of FACTS that simply AREN'T.

FACT

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apom, you are the king of FACTS that simply AREN'T.

FACT

The international monetary fund has said that the greatest danger facing the uk economy is the levels of debt that we face.

They say that the economy cannot support the debt or prices....

are the IMF wrong? and are they not the most important economic commentators, representing the worlds biggest economic powers..?

that we cannot support the prices, I am afraid is fact..

would any one argue this?

The international monetary fund has said that the greatest danger facing the uk economy is the levels of debt that we face.

They say that the economy cannot support the debt or prices....

are the IMF wrong? and are they not the most important economic commentators, representing the worlds biggest economic powers..?

that we cannot support the prices, I am afraid is fact..

would any one argue this?

Please do not come oput with the fact that people are still buying..

They are..

Sentiment may have saved our economy.. is it too late...?

If people have to find another few hundred pounds a month for their homes, that part of the economy that the few hundred pounds used to go to suffers.

This causes business to fail, people to becopme poorer, spend less..

Less is spent.. economy suffers..

horror

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THE ECONOMY CANNOT SUPPORT CURRENT PRICES (CONFIRMED FACT)

Here's just one example: you're posting this in a thread whereby it has been demonstrated that not only has the economy supported prices but has contrived to put them up: not the most fertile ground to sow your factual seeds.

What you put forward from the IMF is a PREDICTION or a FORECAST.

If you must use caps, then how about this:

THE ECONOMY CANNOT SUPPORT CURRENT PRICES (CONFIRMED FORECAST)

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Here's just one example: you're posting this in a thread whereby it has been demonstrated that not only has the economy supported prices but has contrived to put them up: not the most fertile ground to sow your factual seeds.

What you put forward from the IMF is a PREDICTION or a FORECAST.

If you must use caps, then how about this:

THE ECONOMY CANNOT SUPPORT CURRENT PRICES (CONFIRMED FORECAST)

Okay.

there are certain things that must happen as a result of something else happening.

It does not have to happen at exactly the same time.

There is a breaking point, an economic cycle and precise evidence..

I say confirmed fact.

and I am cross..

Everyting was fine, then people get dumb, get lied to, get gready.. and it is all wrecked...

we will all suffer for this.

and no, the average FTB does not earn £40,000 in devon..

he earns £18,000.. has a mortgage he cannot dream of paying the capital against.. and a mortgage they lied to get.

that is fact..

You can argue.

but why?? why would you..

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So prices in Hampshire (where I live) are 1.38% higher than the HPC claimed peak (Q3 04), hardly an urgancy to buy.

Also, I think it's very easy to predict the next quarter will show a fall from this figure for the UK (only a small fall). I expect tomorrow will be a bad bear day, but I genuinely think the nominal peak is Q2 06 for this cycle.

Richtea, I don't think the economy is supporting high house prices. It's the unsustainable rise in debt that is doing that!!!

Edited by Jason

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Possibly a bit mean... but it's nice to keep discussions on a logical and factual footing.

Nothing personal.

no offence taken..

the rise in debt is not sustainable..

we all know that..

the tragedy will be those in debt of a personal level..

Hands up who knows people who have bought on an IO mortgage and have no way of ever paying back capital?

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Guest wrongmove

Ok, see header. All info there.

Not good news for us bears :angry: But after strong mortgage lending figures, positive figures were expected.

Yep. Transactions are still strong:

Image1.png

The only good news is that RB may stop posting his list on every other thread :P

Any chance of an update RB ?

post-210-1154975549_thumb.jpg

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mean averages are easily distorted by high value sales.

the transaction numbers on the other hand - worrying..

talk about late to the party. mines a pint of 'no proof of

income' borrowing please .. drunk on debt.. hic'

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Hey, Apom after a year of you telling us how much flats are 'crashing' in Devon, the LR tells us they went UP 20% last year.

Please advise...

New builds went down 12% according to the people who built them.

they released it on their own site.

I know people who paid £20,000 over a price I was offered, and I know people who have paid £15,000 less then that again.

I have seen these people converse. with my own eyes..

I tell you what I see on the ground, here..

You ask me what I think of the land registry figures..??

I have no idea..

but Like for Like.. there are cheaper homes here now then there were..

explain the figures?

I trust the land regustry more then others..

but in 2005 we were told that prices had dropped in Devon.

in 2006 we were told that in 2005 prices had risen.. in Devon.

I can understand that prices will change.. but not already reported figures..

hmmn...

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How come you already have access to this data? I telephoned the Land Registry this morning and was told the data wasn't being released until midnight. Have you made up the figures as a joke? - they certainly don't look realistic

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mean averages are easily distorted by high value sales.

the transaction numbers on the other hand - worrying..

talk about late to the party. mines a pint of 'no proof of

income' borrowing please .. drunk on debt.. hic'

You're right. What we're interested in is what like-for-like prices are doing. How much is a 3 bedroom starter home compared to last year?

It is obvious from the transaction figures broken down by price range that the high end sales are very probably raising the average higher than like-for-like price rises would. How much, is very hard to say.

It's actually possible for the (mean) average to increase in a falling market. I'm not suggesting that's happening here, but without an adjustment for the size of property, these figures don't tell us much.

The transaction figures do tell us something, though. And it's not great news there.

Edited by NJP

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How come you already have access to this data? I telephoned the Land Registry this morning and was told the data wasn't being released until midnight. Have you made up the figures as a joke? - they certainly don't look realistic

No, they are genuine. I have contacts in high places.

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  • 302 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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