My house up 8.8% in the last quarter!!

skap7309

Well my area seems to have dropped -12.2% in the last quarter. As much as i would like this to be correct i personally think it is utter tosh. 48.8% Yoy? Doubt it.

Anything other than Land Registry does not cut the mustard for me.

Really2

skap7309 wrote: »

Well my area seems to have dropped -12.2% in the last quarter. As much as i would like this to be correct i personally think it is utter tosh. 48.8% Yoy? Doubt it.

Anything other than Land Registry does not cut the mustard for me.

I think the figures are LR. (It says so on the site) but -12.2 in a quarter does not make -48% in a year. You could have -1% next quarter?

skap7309

Really2 wrote: »

I think the figures are LR. (It says so on the site) but -12.2 in a quarter does not make -48% in a year. You could have -1% next quarter?

Yes you are correct - LR it is, however the LR site shows -12.5% and BBC shows -8.7%?

Oh BTW the -48.8% YoY was a bit of a joke.......;)

mustrum_ridcully

theblindman wrote: »

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/39ud.stm

Ok come on then shoot me down in flames, I ready and waiting, the first to use the phrases ' dead cat bounce' 'one swallow doesnt make a summer' wins a prize

So you bought and sold your house in the space of a quarter? Well done! Perhaps you sold your house and the new owner sold it? Still well done!

Ah no wait a minute that isn't nethouseprices (other houseprice sites are available) it's the BBC reporting average LR figures.

If you'd of posted the houseprices for your street then you could draw a genuine conclusion from the stats.

The sales volumes are pretty low (76 sales) that a few outliers could skew the figures. Look at the flats figures up nearly 14%, so have all flats gone up 14%, or could it be one (or even all) of the 3 flats sold happened to be a luxury newbuild flats or a conversion that distorted the stats?

In the crash some house prices will go down a lot, some less, some will stay the same, some may even go up (local school gets fantastic results in the league tables).

IveSeenTheLight

mustrum_ridcully wrote: »

So you bought and sold your house in the space of a quarter? Well done! Perhaps you sold your house and the new owner sold it? Still well done!

Ah no wait a minute that isn't nethouseprices (other houseprice sites are available) it's the BBC reporting average LR figures.

If you'd of posted the houseprices for your street then you could draw a genuine conclusion from the stats.

The sales volumes are pretty low (76 sales) that a few outliers could skew the figures. Look at the flats figures up nearly 14%, so have all flats gone up 14%, or could it be one (or even all) of the 3 flats sold happened to be a luxury newbuild flats or a conversion that distorted the stats?

In the crash some house prices will go down a lot, some less, some will stay the same, some may even go up (local school gets fantastic results in the league tables).

Hmmm, seems when house prices go up, they low figures skewing figures quote comes out.
Remember, this happens when prices go down and sales are low as well

mustrum_ridcully

IveSeenTheLight wrote: »

Hmmm, seems when house prices go up, they low figures skewing figures quote comes out.
Remember, this happens when prices go down and sales are low as well

Indeed they do. In case some had some deja vu, I was redoing an argument I've seen made by people who don't think house prices are going down, low sale volume.... skewing statistics...

Unfortunately I've had to play around with statistics and the way LR figures are analysed/reported is flawed - by people on both sides of the debate. I don't know what Halifax and Nationwide do but I hope they're a little bit more careful.

IveSeenTheLight

mustrum_ridcully wrote: »

Indeed they do. In case some had some deja vu, I was redoing an argument I've seen made by people who don't think house prices are going down, low sale volume.... skewing statistics...

Unfortunately I've had to play around with statistics and the way LR figures are analysed/reported is flawed - by people on both sides of the debate. I don't know what Halifax and Nationwide do but I hope they're a little bit more careful.

That's cool, as long as people understand there will be variations with low sales figures and averages both ways

Incidently, another poster pointed out that the prices were as per Novembers release. If we have a few more months of up and downs, we may see prices on average start to stagnate over a longer period.

morg_monster

holy crapping heck... wandsworth borough down 17.7% in a quarter!!! I'm skeptical that they've dropped THIS much in a quarter - I haven't really seen this as properties dropping selling prices on PB. But maybe in wandsworth they are more realistic and putting stuff on the market at a reasonable price to start with...
if they are LR figures then I can't use the argument that the top end of teh market are staying put (which I think is true around here). But I'm sure I looked at the LR figures recently and they weren't anywhere near 17.7% down? what's going on?

theblindman

I love these forums, I know my house is only worth what someone will pay for it, it could be £1 or £500000 but its not worth anything until its sold and the money is in our account, the last house on our road sold for £450 000. We've had our house on the market for 4 months and all the people that have come to look have been from out of the area, one of the estate agents who came round said the top end round here is bouyant, he had seven offers on one property with people faxing over thier bank statements!
Most of the houses i see selling are to 'incomers' and tend to be a bit older (maybe thats why we just got a M&S simply food),but if there are any southerners that want a nice smallholding in a nice market town I'll happily take your money and go buy some more land, you can even have a couple of sheep for free!

bo_drinker

But people are still obsessed with the "investment" value and not live there as a home. It's still happening after all that has gone on recently. These are the people you avoid at gatherings especially when the property subject comes up. I would rather be stabbed in the eyes with rusty needles than spend a second talking to these boring b4stards.