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Debate House Prices
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UK House Prices
Comments
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Yeah - the five boroughs with the largest falls (Ealing, Lambeth, Richmond, Waltham Forest, and Wandsworth) account for a very disproportionately high number of sales.I don't really get the LR's London figures. The YoY growth for Greater London is -10.2%. However, when you break it down by borough, only five boroughs have growth below this rate, while 27 are above (figures for City of London are unavailable). If you just do a straight average of the boroughs, it comes out as -7.3%.
The only way the -10.2% figure would work is if the five boroughs with the largest falls (Ealing, Lambeth, Richmond, Waltham Forest, and Wandsworth) account for a very disproportionately high number of sales, which seems unlikely.
Any explanation for this?
Next.
Sorry mate, just joshing.0 -
I don't really get the LR's London figures. The YoY growth for Greater London is -10.2%. However, when you break it down by borough, only five boroughs have growth below this rate, while 27 are above (figures for City of London are unavailable). If you just do a straight average of the boroughs, it comes out as -7.3%.
The only way the -10.2% figure would work is if the five boroughs with the largest falls (Ealing, Lambeth, Richmond, Waltham Forest, and Wandsworth) account for a very disproportionately high number of sales, which seems unlikely.
Any explanation for this?
I think that's your answer right there.
They're probably the areas with the highest number of distressed sellers and reposessions too.
I would imagine City of London is not available due to the low volumes.0 -
Sorry Chucky, I beat you to it. Again. Suggest you edit your post to mean something else entirely and then your embarrassment at being beaten by Mewbie can be hidden. I'll then edit this, a story about cruel BTL'ers / whatever, and then honour will be restored.
Maybe.0 -
interesting bit for me shows that on average over 48,500 homes are still being sold every month
thats nearly 50,000 properties sold every month
the way the media go on and a lot of people on this board it sounds like no properties are being sold at all
when in fact close to 50,000 are being sold every month0 -
It's half a million a year. There are about 14,500,000 owner occupied properties in the UK. On top of that there are 2-3,000,000 BTLs (I think - can't find the exact figure) so fewer than 1 in 30 properties being sold now each year.
I'm not disagreeing the figures are currently low, but still significant in my opinion.
You say 1 in 30 properties are being sold, but not all property is marketed for sale.
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
interesting bit for me shows that on average over 48,500 homes are still being sold every month
thats nearly 50,000 properties sold every month
the way the media go on and a lot of people on this board it sounds like no properties are being sold at all
when in fact close to 50,000 are being sold every month
To be fair the 48,500 is a three month average while MoM they are dropping:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Sorry Chucky, I beat you to it. Again. Suggest you edit your post to mean something else entirely and then your embarrassment at being beaten by Mewbie can be hidden. I'll then edit this, a story about cruel BTL'ers / whatever, and then honour will be restored.
Maybe.
Yes you're right - you're too quick for me!!
The Land Registry numbers are rubbish and inaccurate!!!
They now don't include stamp duty which is the reason for the drop in price.
Also, Decent property won't go down in price!! (I really believe this by the way!!).
As for two properties being sold for under £50k they were garages so they don't count!!!
Am I being biased enough? 0 -
interesting bit for me shows that on average over 48,500 homes are still being sold every month
thats nearly 50,000 properties sold every month
the way the media go on and a lot of people on this board it sounds like no properties are being sold at all
when in fact close to 50,000 are being sold every month
I guess its because people still want to move and as long as they already have a house it's only the difference in price that matters (as long as they arent in negative equity etc etc) so you are always going to get some people moving. I must agree with you though that I am suprised its as high as 50,000. Not sure how many of these 50,000 would be first time buyers.0 -
chucky/mewbie - That can't be right. The average of those five boroughs is -11.76%. The average of the remaining 27 boroughs is -6.47%. That means that (for an overall average of 10.2%) those five boroughs would need to account for 70% of house sales in Greater London over the past year, which is simply not credible.0
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IveSeenTheLight wrote: »To be fair the 48,500 is a three month average while MoM they are dropping
yes but 48,500 is still a lot more than zero (in fact its 48,500 more than zero)
which is the impression you get from reading the newspapers, watching the news and reading the majority of posts on this board0
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