We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Land Registry House Prices Down 3.14% 1st quarter
1984ReturnsForReal_2
Posts: 15,431 Forumite
Land Registry House Prices Down 3.14% 1st quarter & 9% on last year...
Figures just released........ at 00.06 :rolleyes:
http://news.bbc.co.uk/1/hi/business/8038435.stm
"
A comprehensive review of house prices in England and Wales by the Land Registry has revealed the depth of the slump in early 2009. The average property price in the first three months of the year was 3.14% lower than the previous quarter and down 9% on the same period a year ago.
The average home cost £198,939, and the average detached house fell in price by nearly £15,000.
Land Registry data on property prices in Scotland will be published later.
Comprehensive
The Land Registry's quarterly survey is widely considered as the most authoritative of the house price surveys.
It registers all sales and compares the price of properties sold now with the price paid when they were sold before. The three-month on three-month comparison rules out any short-term blips in the data.
The figures are also broken down to local level, allowing homeowners and potential buyers to study typical house prices in their area.
The data shows that prices fell in the first three months of the year across all property types.
The rate of house price falls was faster than a year ago, but slowed compared to the final quarter of 2008.
The scale of inactivity in the market was also shown by the figure revealing the number of property sales in England and Wales.
This dropped to 84,331 in the first quarter of 2009, compared with 114,974 in the previous three months and 167,050 in the first three months of 2008. "
Figures just released........ at 00.06 :rolleyes:
http://news.bbc.co.uk/1/hi/business/8038435.stm
"
A comprehensive review of house prices in England and Wales by the Land Registry has revealed the depth of the slump in early 2009. The average property price in the first three months of the year was 3.14% lower than the previous quarter and down 9% on the same period a year ago.
The average home cost £198,939, and the average detached house fell in price by nearly £15,000.
Land Registry data on property prices in Scotland will be published later.
Comprehensive
The Land Registry's quarterly survey is widely considered as the most authoritative of the house price surveys.
It registers all sales and compares the price of properties sold now with the price paid when they were sold before. The three-month on three-month comparison rules out any short-term blips in the data.
The figures are also broken down to local level, allowing homeowners and potential buyers to study typical house prices in their area.
The data shows that prices fell in the first three months of the year across all property types.
The rate of house price falls was faster than a year ago, but slowed compared to the final quarter of 2008.
The scale of inactivity in the market was also shown by the figure revealing the number of property sales in England and Wales.
This dropped to 84,331 in the first quarter of 2009, compared with 114,974 in the previous three months and 167,050 in the first three months of 2008. "
Not Again
0
Comments
-
The crash continues in earnest, in fact it seems to be gathering pace.0
-
Wait a minute, you are telling us that house prices are down 9% on a year ago
OK. is that all, we all thought it more than that :j'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 -
-
So a 1% fall per month, that's quite a rate of knots. It won't take that much longer before house prices are at a proper and affordable level?0
-
These will be the quarterly "simple average" figures, as used by BBC's House Price calculator, I expect.
http://forums.moneysavingexpert.com/showpost.html?p=18668799&postcount=37
Hence the difference from Land Registry's own index which shows -16% YoY...
[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=2&a=E&W-ALL&s=01 April 2008&e=01 March 2009&t=1[/IMG]
I suppose one obvious difference will be the lack of Seasonal Adjustment, so we are in danger of having the Nationwide argument again...
Otherwise, which is best, a "simple average" that may be skewed by lots of cheap flats, or an index which "identifies" an "average" house then relates value to it...? Not sure myself.
Still, going down is good news for many.0 -
1984ReturnsForReal wrote: »Yep.
& when April-Junes is confirmed it will be 12% in 12 months....
OK go on, a few winners tomorrow at Chester, you appear to be able to read the future :rotfl: Confirmed !!!!!! they have already agreed :rotfl:
http://www.racingpost.com/horses/racing.sd?course_id=13&r_date=2009-05-08'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 -
If house prices keep falling like this Stevie, even you might be able to afford one some day.0
-
OK go on, a few winners tomorrow at Chester, you appear to be able to read the future :rotfl: Confirmed !!!!!! they have already agreed :rotfl:
http://www.racingpost.com/horses/racing.sd?course_id=13&r_date=2009-05-08
Its the 8th May. Its hardly the future, its the present.
Did you not read the article?
4th quarter highest. Faster than Jan-March 2008.
Its stats mate. Did they teach you that at school. Hardly a gamble to say 12% down year on year for 2nd Quarter 2009.
But if you want I will say margin of error +/-1 .(ie 11% to 13% DOWN on 2nd quarter 2008 )
Is that better for you?
No crystal ball needed. Unless of course house prices are rising!!:whistle: :silenced:
Not Again0 -
1984ReturnsForReal wrote: »Its the 8th May. Its hardly the future, its the present.
Did you not read the article?
! :silenced:
Just read it there is F.A there :rotfl: were you having me over
The rate of house price falls was faster than a year ago, but slowed compared to the final quarter of 2008 :whistle:'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 -
FoxtonsRIP wrote: »If house prices keep falling like this Stevie, even you might be able to afford one some day.
Just Maybe
To be honest I wouldn't fancy one of those rabbit hutches down your way, just my opinion of course 
'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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards