Tuesday, April 1, 2008

Down down is the Status Quo for some time

April house price report

Annual change now down to 5.3 following another month of zero growth based on transaction December 07 (ish).

Posted by growler @ 11:08 AM (547 views)
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3 thoughts on “Down down is the Status Quo for some time

  • Biggest fallers are Wales and South (east and west)

    And, critically, transactions are down 40% (42% London) year on year

    Woops

    Talk your way out of that one VIs

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  • Piledhigheranddeeper says:

    The land registry data price change is measured by observing houses which have been sold more than once since April 2000. On balance, it might be expected that a house that has been sold twice since the start of the decade will quite probably have been substantially improved (eg central heating/doubleglazing etc). If this were the case then this index would not truely compare like with like, but instead have a tendency to overstate house price inflation. Perhaps this point has been made before but as a Newbie I would welcome any informed comment on this issue!

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  • It really does seem that the LR can’t do arithmetic. The average price in January was £186,045 (co-incidentally within £1 of the peak Nationwide price from October), and now it’s down 0.2% at £185,616. Or perhaps the LR revised the Jan numbers downwards, but forgot to mention it? Either way, it gives cause to doubt their figures and press releases.

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