Land Reg - Prices Down 0.8% in January

adr0ck

Latest statistical data on following link

http://www1.landregistry.gov.uk/assets/library/documents/hpi2722009.pdf

adr0ck

The data for January shows an
annual house price change of
-15.1 per cent. This notably
marks the seventeenth month in
a row where the annual rate of
change has fallen. This contrasts
with the 21 months of
uninterrupted increases in the
annual rate of change between
December 2005 and August
2007.
The average property is currently
worth £156,753 and the rate of
monthly price change stands at
-0.8 per cent.
Sales volumes have continued to
decrease, with the number of
sales averaging 41,014 per
month in the months August to
November 2008. In the same
period in 2007, the average was
106,495.

adr0ck

fatpig wrote: »

I prefer the Nationwide House figures as they tend to be more accurate. The Halifax are all over the shop, who really believes house prices went UP in january. And the Land registry figures are 3 months behind and made up by the government.

land reg are the most accurate however they lag behind the Nationwides and Halifax's figures

problem with Nationwide & Halifax reports - what % of the mortgage market do they now cover compared to say 12 months ago

adr0ck

fatpig wrote: »

The government makes the land registry figures up as they go long like they do with inflation. So I'd hardly call that accurate

blurb on how land reg do figures

The HPI is produced using the Repeat Sales Regression (RSR)
method. Under the RSR method, house price growth is measured
by observing houses which have been sold more than once. By
using repeat transactions, differences in the quality of homes
comprised in any monthly sample are greatly reduced – thereby
ensuring an ‘apples to apples’ comparison. The HPI uses Land
Registry's own price paid dataset. This is a record of all
residential property transactions made in England and Wales
since January 1995. At present it contains details on fifteen
million sales. Of these, approximately five million are identifiable
matched pairs, providing the basis for the repeat-sales regression
analysis used to compile the index.

IveSeenTheLight

fatpig wrote: »

The government makes the land registry figures up as they go long like they do with inflation. So I'd hardly call that accurate

Dont let fact get in the way of opinion :rolleyes:

Are you really so Bear Droned to believe that?

LR figures are the most accurate (although lag by 1 month :eek: ) but it should be made aware that they are only from England and Wales.
If you included Scotland figures, the average house price would be lower

ad9898_3

And just think, no new build, no repo's. Where is it really I wonder ?? They are only accurate with what they include, which at a guess and I admit it is a guess is only 60% of sales.

Really2

ad9898 wrote: »

And just think, no new build, no repo's. Where is it really I wonder ?? They are only accurate with what they include, which at a guess and I admit it is a guess is only 60% of sales.

Do Repos sold by EA's get added?

geoffky

Dont forget they also exclude auctions in the lr figures..

IveSeenTheLight

geoffky wrote: »

Dont forget they also exclude auctions in the lr figures..

Are there any figures that generate 100% of all property transactions?

Therefore, out of the three generally accepted (LR, Halifax and Nationwide) LR gives the most accurate figures

ad9898_3

geoffky wrote: »

Dont forget they also exclude auctions in the lr figures..

Thanks for that Geoff, I knew there were 3 things, I just couldn't think of the other.

stevetodd

IveSeenTheLight wrote: »

Are there any figures that generate 100% of all property transactions?

Therefore, out of the three generally accepted (LR, Halifax and Nationwide) LR gives the most accurate figures

Also if you are buying at auction then you use auction results as a price guide, if not then auction prices are not relevant to guide you putting an offer in