Land Registry -2% mom -13.5% yoy

mystic_trev

http://www1.landregistry.gov.uk/assets/library/documents/29012009e.pdf

pandamonia

2% in one month? and who has been arguing with me that prices werent crashing?

ad44downey

pandamonia wrote: »

2% in one month?

Timber!!!!!

WTF?_2

mystic_trev wrote: »

http://www1.landregistry.gov.uk/assets/library/documents/29012009e.pdf

And don't forget that repos/auctions (and newbuilds too) are exempted from that index - making it understate the scale of the drops.

http://www.guardian.co.uk/business/2008/nov/30/house-price-index-market-value

The Government's official house price index, produced by the Land Registry, has been accused of misleading homebuyers and policymakers after it emerged that it excludes repossessions and auctions on the grounds that they do not reflect the 'full market value' of the sale.
..
... critics argue that Land Registry data is giving a false view of the property market in many of Britain's urban centres, where savage price falls in recently built apartment blocks have been driven almost exclusively by repossessions. The price declines are also failing to appear on popular property websites used by buyers searching 'sold prices', as the data feed comes from the Land Registry.

BenL

Terraced houses hit harder than flats 14.4% down annual against 13.7%

Southwest down 15.6% for the year, West midlands a big 3.6% down in the month, the prices here are going to be down a lot with the job losses going on that seem to be heavily focused in that region.

skap7309

Damn, prices in my area are holding their value. -13.5% national whilst here in sunny Cambridgeshire it stands at -12.5%.

I agree with the bulls on this one - some areas are holding their value. :rotfl:;) :rolleyes:

Generali

!!!!!!? wrote: »

And don't forget that repos/auctions (and newbuilds too) are exempted from that index - making it understate the scale of the drops.

http://www.guardian.co.uk/business/2008/nov/30/house-price-index-market-value

It is what it is. LR figures misrepresentificate in a known way. Haliwide in another, Rightmove (Wrongmove?) in yet another.

The sensible person takes a look at all these numbers and ends up with an overview of things.

MissMoneypenny

!!!!!!? wrote: »

And don't forget that repos/auctions (and newbuilds too) are exempted from that index - making it understate the scale of the drops.

http://www.guardian.co.uk/business/2008/nov/30/house-price-index-market-value

I wonder what the true figure is?

Really2

skap7309 wrote: »

Damn, prices in my area are holding their value. -13.5% national whilst here in sunny Cambridgeshire it stands at -12.5%.

I agree with the bulls on this one - some areas are holding their value. :rotfl:;) :rolleyes:

less than 9%YOY mine.

Looking at it there is not many areas above 11% yoy.
I presume the more expensive areas are skewing the average for the UK.

Generali

MissMoneypenny wrote: »

I wonder what the true figure is?

Which true figure?

True value of property lived in or bought/sold for example?

Really2

Generali wrote: »

Which true figure?

True value of property lived in or bought/sold for example?

I think the only true indication is looking up the sold in your area and working it out for yourself.

The national average as you put things is "noise" in the end of the day.