Friday, November 26, 2010

Another carving of Land Registry bear food

Largest monthly drop in house prices since Feb '09

Monthly average house prices fell 0.8 per cent in October in England and Wales, the largest monthly fall seen since February 2009.This was the second consecutive month of falling house prices and the average price of a property was £165,505 in October, data from the latest Land Registry house price index has shown. Annual house price growth stood at 3.4 per cent, the fifth consecutive month in which the figure has fallen. Sales volumes have increased over the past year, from an average of 55,614 transactions a month in May to August 2009, to 59,512 in the same period this year.

Posted by jack c @ 03:51 PM (1752 views)
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6 thoughts on “Another carving of Land Registry bear food

  • Great, just another 30% to go & we might get to a reasonable level….

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  • “Despite the fall in average prices, the number of registered buyers rose 0.3 per cent in the quarter between July and October and this should give sellers some cause for cautious optimism.”
    – when do buyers de-register? When they buy? After some predetermined time period?

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  • notyethomeless says:

    *sigh*
    Hertfordshire (where I’m looking to settle) and Surrey both increasing by 9%, faster even than London.

    House came on Rightmove today, but already under offer (so no viewings).

    Met a broker friend for lunch; bonuses and pay raises off the charts.

    What a sh!tty year.

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  • @3 Sh!tty year for me too. This year I effectively earned nothing…. Still I can only hope for a better 2011.
    Many more people will soon realise the good times are now gone. We are entering a survival stage for some (any job will do!), whereas others are just going to spend their cash reserves until they are forced to change their way of life. Ultimately there will be a fall in many asset prices (including house prices).

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  • Regional southern HOTSPOTS @3.

    Who said the party was over?

    I’ll have the same again next year if you please.

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  • Smuggy my friend, you say you would like the same next year, but do you think that is achievable, even in the South?

    The Land Registry figures are obviously a couple of months out of date, so there are still 4 months of real data to go before the end of this year.

    Does the Southern market really have the ability to even maintain prices next year, in the face of so many negative economic and fiscal influences?

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