Monday, Oct 09, 2006

House prices up again...DCLG

Firstrung: House prices up 1.9 percent for owner occupiers, 1.3 percent for first time buyers in August - DCLG

The UK house price inflation rate rose from 6.0 per cent in July 2006 to 7.7 per cent in August 2006. Prices rose by 1.6 per cent between July and August, compared with almost no change over the same period last year. The rise in UK prices between July and August can be attributed to rises in average prices for bungalows (5.1 per cent) detached houses (3.2 per cent), flats (1.6 per cent), and semi detached houses (1.0 per cent).

Posted by converted lurker @ 10:27 AM (481 views)
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4 Comments

1. Sold 2 Rent 1 said...

I have been reading this blog for about a year now

I have taken the decision with my wife to sell our 2 houses (one in Reading and one in Dublin) and rent a nice detacted house before our new baby comes along in January.

Just been around the EA's to get some valuations done. They are saying that properties like mine (3 bed terrace) are selling in days and sometimes above the asking price. My view is that there will be a HPC but not before a final spike in prices over the next 12 months. The graph on the homepage of this website is starting to show good strength again

Looking at Ireland, even as EUR interest rates went up in the first 6 months of this year prices were still taking off. Only after 5 EUR rate rises are buyrs now beginning to have second thoughts.

One of the best articles I have read recently is a review of Fred Harrsion's book: Boom Bust, House Prices, Banking and the Depression of 2010.
http://www.cooperativeindividualism.org/putland-gavin_review-of-boom-bust.html
With residential property holding up and commercial property on a big increase his 18 year land cycle theory seems to be holding true.

My bet is on 2008 when HPC kicks off although it will take a fair amount of unemployment to get the ball rolling.

Monday, October 9, 2006 01:51PM Report Comment
 

2. little professor said...

Even the worst-performing areas, the East and West Midlands, still posted house price inflation rates of 4.4 and 5.9% respectively.

Monday, October 9, 2006 03:06PM Report Comment
 

3. Sam said...

I'll wait to see the figures from landreg I think. it's difficult to fudge them.

Monday, October 9, 2006 03:36PM Report Comment
 

4. inbreda said...

Is it me or are the increases quoted in the article statistically impossible without falling prices last year?

At the very best this article is saying that prices aren't falling anymore, not that they are flying.

Monday, October 9, 2006 04:50PM Report Comment
 

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