Wednesday, October 31, 2007

Long Term Trend

Slight pickup but the trend is down for house prices

House prices picked up slightly last month, however, the headline figure for annual house price inflation fell as strong figures from a year ago dropped out of the calculation. Prices were up by 8.7 per cent in the year to September, compared with a 9.4 per cent year-on-year rise the previous month.

Posted by peter @ 10:22 AM (252 views)
Please complete the required fields.



2 thoughts on “Long Term Trend

  • I’m not totally familiar with how this index is created, but I would imagine the lack of sale of properties under £300-400k and
    a sudden flurry of £300k + sales in the last 2 months has distorted the figures here. As property is not a homogenous product, I
    cannot see what indecies or land registry figures tell us, when there can be no like-for-like comparisons made. This, as is
    usually the case with jouranlists who are crap at maths, only leads to knee jerk headlines which mislead the general public, intentionally
    or not.

    Reply
    Please complete the required fields.



  • Ihopeitgoeswithabang says:

    Still want to use the words “up on last year”
    Well using a 12 month time scale there is always going to be an up for many months to come.
    However that would be no consolation to someone who pays 250k for a property now and finds in 9 months its worth 235k. Plus the costs of buying and selling.
    Because the only thing that they will see is a down.

    Well on the bright side in about 8 to 9 months time nobody will be able to include the words “up on last year” anymore. I look forward to that day.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>