UK house prices down 23 percent in real terms.

ad9898_3

A nice graph as well, the author feels in inflation adjusted terms we are back to Oct 2003.



http://ukhousebubble.blogspot.com/2009/04/uk-house-prices-down-23-percent-in-real.html

ukcarper

Are we going to use inflation adjusted terms to justify our drops now

chucky

this one is probably more accurate

[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1>=1&a=E&W-ALL&ac=London&s=01 January 2003&e=01 March 2009&t=4[/IMG]

London is at late 2006 prices and the the rest of England and Wales is somewhere in 2004

this is why the national Averages don't work at all - whoever buys a house and takes notice of a National Average House Price Indexes is deluded.

Graham_Devon

ukcarper wrote: »

Are we going to use inflation adjusted terms to justify our drops now

Oh no

This could start an argument, one which I'm staying well out of

ad9898_3

ukcarper wrote: »

Are we going to use inflation adjusted terms to justify our drops now

Not necessarily, I just thought it would be an interesting topic on house prices rather than the endless immigration drivel that I keep seeing threads on.

ad9898_3

chucky wrote: »

this one is probably more accurate



London is at late 2006 prices and the the rest of England and Wales is somewhere in 2004

this is why the national Averages don't work at all - whoever buys a house and takes notice of a National Average House Price Indexes is deluded.

I do agree chucky to a certain degree, however the national figures are what is pedaled by the mass media, and they have quite an impact on sentiment as a whole.

mitchaa

ad9898 wrote: »

A nice graph as well, the author feels in inflation adjusted terms we are back to Oct 2003.



http://ukhousebubble.blogspot.com/2009/04/uk-house-prices-down-23-percent-in-real.html

October 2003 was showing a price of £131,947
January 2005 was showing a price of £151,757
April 2009 is showing a price of £151,861

So believe it or not we are higher now than we were back in January 2005;)

http://www.housepricecrash.co.uk/indices-nationwide-national.php

Using inflation is a little desperate from the author just to try and talk down. Keep it on a level playing field i say.

mitchaa

Oh, when are the Halifax figures due, anyone know??

the_ash_and_the_oak

While London (and Scotland and of course NI) are differnt markets - still feeling all had the effects of the boom and differences will not be particularly marked

esp compared to the US which truly was a regionalized with many states not really taking part in the boom (compare Maine or ND with arizona or california - also for when you look at the figures for the Southwestern states where the boom was concentrated its kind amazing compared to the national figures). I don't really see that kind of divergence in the UK

Dithering_Dad

Nice graph Ad, it's interesting to use inflation adjusted figures as it gives a real view of the price of houses as compared with previous years, especially those in previous crashes.

chucky

ad9898 wrote: »

I do agree chucky to a certain degree, however the national figures are what is pedaled by the mass media, and they have quite an impact on sentiment as a whole.

ahhh AD come on you're softening up - i thought it was affordability to buy a house that was stopping people buying not sentiment