Friday, August 26, 2011

Prices still up 1.3% in England and Wales in July though *smiley BBC face*

North East leads house price fall says Land Registry

House prices in the North East of England fell by 8.8% in the year to July, as figures show that every region of England and Wales, except London, experienced an annual drop. Prices in the London have increased by 1.3% since July 2010, according to the figures from the Land Registry. Overall, the value of flats and maisonettes dropped most sharply. The average home in England and Wales cost £163,049 in July, up by 1.3% in the month but 2.1% down on a year ago. "This is the largest monthly movement since January 2010," the Land Registry said.

Posted by general congreve @ 12:13 PM (3923 views)
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19 thoughts on “Prices still up 1.3% in England and Wales in July though *smiley BBC face*

  • I posted this article on Saturday gone http://www.housepricecrash.co.uk/newsblog/2011/08/blog-in-contrast-to-the-express-front-page-this-is-the-local-journal-front-page-34446.php and it attracted few comments

    2. jack c said…Saturday, August 20, 2011 06:53PM – “this article talks about the North – South divide and my market knowledge is largely based upon what goes on roughly in a 60 mile radius of Newcastle upon Tyne. Prices up here, both asking and actual selling prices are definitely falling and indeed official figures released for 2010 showed just over an 11% price drop. The trend in this area is most definitely down”

    Local knowledge also suggests the North-East is the last region in England to follow the rising prices trend ie what starts in the South takes time to filter North however any hint of a recession and this region is immediately hit hard and fast – my theory is the downward trend on houseprices starts up North and then heads South.

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  • Cue tomorrow’s EXPRESS headline!

    I’m betting on ‘HOUSE PRICES BOUNCE BACK’.

    followed by……’biggest monthly increase since…..blah blah ramp ramp ramp…….blah…..ramp….shortage of homes…..blah…blah..interest rates to stay low FOREVER……blah…ramp….’

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  • general congreve says:

    @1 – Must have been a different URL Jack C, as HPC doesn’t normally allow duplicates. Didn’t intentionally double post!

    @2 – You might be right, seems they haven’t used that exact headline yet 😉

    Image and video hosting by TinyPic

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  • Well after reading all of those Express headlines I’m now convinced house prices only ever go up (LOL)

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  • lol…how can anyone take this paper seriously…more like sunday sport

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  • And I actually thought that the rioting would have an adverse affect on house prices. Silly me.

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  • watchman – it’s had an adverse affect on insuring them which in turn will affect the price

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  • I was thinking from a foreign investment point of view and it felt like something that might start a retreat from London property investment. Or do you think maybe the olympics possibly an overriding factor there?

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  • Watchmen – The Land Reg is a lagging index. These are July’s transaction, so agreed around May.

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  • Thanks RnR, so there’s still hope then 🙂

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  • Mr Wadsworth regularly suggests that the Land reg index most closely follows the Nationwide index – this in turn would suggest that the next LR release will continue positive using the most recent chart provided by PHD – see

    http://www.housepricecrash.co.uk/newsblog/2011/08/blog-bear-nibbles-34429.php

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  • 3. general congreve.

    CHEER UP BRITIAN, it may never appen!

    Wonder fool.

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  • Why are Buyer’s (purportedly) paying so much, when they don’t need to?

    Money really grows on trees in Britain, doesn’t it?

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  • mark wadsworth says:

    The YOY looks very reliable.

    Jack C, yes. PhD’s charts seem to illustrate this quite clearly.

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  • No mention of Diana in all those front pages. Someone must have finally told them she must be dead.

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  • mark wadsworth says:

    GC, fantastic collage, I nicked it for my ‘blog.

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  • @16

    +1

    One of GC’s finer efforts. Congrats.

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  • general congreve says:

    @16 and @17 – Thanks. I think the montage really rams home what a worthless boomer comic book the Express is. In fact, it’d be fair to say there’s more realism in most actual comics than in the pages of ‘The Daily Unending Diana Memorial and House Price to Infinity Express’.

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