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Guardian: Britain's worst price falls
PasturesNew
Posts: 70,698 Forumite
http://www.guardian.co.uk/money/2008/nov/22/property-crash-uk-house-prices
Just how bad is the property market right now? Are desperate sellers slicing thousands off asking prices to shift their homes? Do the national average figures disguise massive variations on a street-by-street level? Or are homeowners refusing to budge on price and hoping that the downturn will prove short-lived?
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Comments
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It appears that the people who write these articles don't know what they are talking about.
But Land Registry data gives a slightly different picture. Its latest statistics, for September, show Merthyr Tydfil in south Wales was the worst-performing district, down 4% on the month alone, while Conwy, in north Wales, was bottom of the pile over the year, down 10.6% (and, curiously, significantly less than the figures recorded by the big lenders).
Curiously, really! Oh my why would the Land registry % price drop figures be lower than the big lenders?
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Curiously, really! Oh my why would the Land registry figures be lower than the big lenders?
Most likely as it is a far bigger survey so more accurate, also a lot of the land registry developer price fraud is being clamped down now.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Most likely as it is a far bigger survey so more accurate, also a lot of the land registry developer price fraud is being clamped down now.
I think they are saying that the LR price drops are lower than the big lenders, which isn't curious as they are around four months behind. I have amended my original comment to make this clearer'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
And again, the Land Registry differs in that it
* Is lagging data by a few months as against mortgages
* Doesn't include new builds due to the RSR methodology
* Doesn't include repossessions as these are not 'open market'
* Does include cash purchases (except those consequent on divorce)Hurrah, now I have more thankings than postings, cheers everyone!0
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