rickybruce Posted March 11, 2008 Share Posted March 11, 2008 http://www.communities.gov.uk/documents/housing/pdf/717145 Quote Link to comment Share on other sites More sharing options...
Jason Posted March 11, 2008 Share Posted March 11, 2008 (edited) 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 March 11, 2008 by Jason Quote Link to comment Share on other sites More sharing options...
Timm Posted March 11, 2008 Share Posted March 11, 2008 http://www.communities.gov.uk/documents/housing/pdf/717145 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. Quote Link to comment Share on other sites More sharing options...
jpjh Posted March 11, 2008 Share Posted March 11, 2008 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.... Quote Link to comment Share on other sites More sharing options...
redwing Posted March 11, 2008 Share Posted March 11, 2008 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. Quote Link to comment Share on other sites More sharing options...
rickybruce Posted March 11, 2008 Author Share Posted March 11, 2008 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." Quote Link to comment Share on other sites More sharing options...
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