Wednesday, August 12, 2020
Prices in July 2020 are back at September 2019 levels
Average England and Wales house price has been falling since March. In Reading where I live prices are now down over 8% year on year. However, you wouldn't think so on a skim read of the report. The VIs behind the house price stats are laid bare by the headlines they choose. LSL Acadata series is based on LR data, like the ONS one. Ignore also the results from July, which are based on a pathetic 1,300 reported sales, things only become clear at 2-3 months distance, since that's when most of the data are in. Probably it will have ticked up when the dust has cleared due to stamp duty holiday, but that's a one-off.