Jump to content
House Price Crash Forum
Sign in to follow this  
rickybruce

Dclg House Price Index Out

Recommended Posts

This means prices are now higher than last summer according to their index; very difficult to believe with mortgage lending fall through the floor and the number of properties up for sale ballooning!

Up until the index today, the figures stood at:

DCLG (formerly ODPM): ----- Oct07 £220,195 ~ Nov07 £218,330 -0.85% ---(link) - completed sales, mix adjusted (experimental)

Edited by Jason

Share this post


Link to post
Share on other sites

Its interesting that whilst DCLG get their figures from CML, their reports differ so wildly.

DCLG report that the average FTB completed on a property worth £167,193 in Jan.

CML report, on the same day, that that same buyer borrowed £115,000, at a LTV of 88%. That gives a purchase price of £130,681.

Now I know there are all sorts of variations in the figures, in the actual transactions used, in the methodology, in the mix assessment, and in the exact type of smoke / mirrors used.

However it still seems strange that the Governments figures should report that the average FTB paid 28% more than the figure reported by the source of the data.

I assume that I have made a glaring error somewhere. Otherwise, perhaps DCLG will have to quietly revise their figures: just as they did for Nov. and Dec.

Share this post


Link to post
Share on other sites

Your forgetting "No more boom and bust"

If we just have a boom and never bust Gordon's miracle can stay with us for ever and ever and ever and ever and ever....

Share this post


Link to post
Share on other sites

Just had a look at my region (East)

Jan 08 £238,796

Jan 07 £223,783

So, £15,000 increase in a year.

But

Aug 07 £237387

A £1,400 increase in the last 5 months.

It seems that most of the current yoy price increase was focused in the first half of the last year. And almost none since the credit crunch kicked off in the summer of '07.

Share this post


Link to post
Share on other sites

they do seem to re cook the figures every month. In December 07's release the index was at 183.9 for Dec, % change over 12 months of 9.1.

For the new January 08 release decembers figures have been revised down to 182.5 and 8.4 respectively.

Ad infinitum, the market will never crash the figures will just be contiually revised down to the bottom of the market.

"we've always been at war with Eastasia."

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.