Land Registry House Prices Down 3.14% 1st quarter

ukcarper

if land registry is 3 months out of date surely your talking last quarter 2008

Dithering_Dad

I always prefer the Land Registy figure that show actual sales prices than the Halifax & Nationwide that only show asking prices (and then just with these two, admittedly large estate agencies).

I know the LR figures don't show the full picture because they don't include reposessions, etc. but they seem to be the least flawed of all the indexes.

It's good to see a nice gradual fall of 1% per month (if this is indeed what is happening) because it means that house prices are returning to an affordable level yet at a slower pace so that anyone who has to sell for financial reasons is not going to totally lose their shirts.

Quite happy for this sort of slow decline to continue for a while, but I do wonder if it'll slow to 0.5% per month (or less) once more positive news regarding the economy starts to filter through.

Chris2685

Funny how these house price drops are staying off of the front page of the Business news isnt it?

mbga9pgf

Dithering_Dad wrote: »

Quite happy for this sort of slow decline to continue for a while, but I do wonder if it'll slow to 0.5% per month (or less) once more positive news regarding the economy starts to filter through.

That will be post-2011 then :rotfl:

misskool

are land registry pruices seasonally adjusted too?

Dithering_Dad

mbga9pgf wrote: »

That will be post-2011 then :rotfl:

Maybe. It would suit me if we have a long and slow decline and then an even longer stagnation. We're happy in our current house but as my equity grows due to my mortgage overpayments I'm starting to look at some lovely houses that are now appearing on my financial horizon.

I think I have two moves left in me - one would be to a really nice stone farmhouse style home (we live in the countryside and there are a lot og stone farmhouses, large cottages and converted barns coming onto the market) - the other would be to downsize once the kids have left home.

I can easily envisage a scenario where we buy our 'prestige' home in the current slump and then downsize at the height of the next boom ready for a comfortable retirement. We have a lot of money in pensions and such, but a hundred grand or so of tax free released equity would always come in very handy.

However, I don't want to stretch myself financially at the present so will wait and see how far houses fall and how much I can repay on the mortgage. Exciting times we live in though

inspector_monkfish

Dithering_Dad wrote: »

I think I have two moves left in me - one would be to a really nice stone farmhouse style home (we live in the countryside and there are a lot og stone farmhouses, large cottages and converted barns coming onto the market) - the other would be to downsize once the kids have left home.

I can easily envisage a scenario where we buy our 'prestige' home in the current slump and then downsize at the height of the next boom ready for a comfortable retirement. We have a lot of money in pensions and such, but a hundred grand or so of tax free released equity would always come in very handy.

assuming your kids are earning enough money to be able to move out of your castle, and buy a house of their own at the same time as your predicted height of the next housing boom

good luck

chucky

1984ReturnsForReal wrote: »

Yep.


& when April-Junes is confirmed it will be 12% in 12 months....

that's still over 58% plus away from 70% falls... we have a long way to go :rotfl:

Dithering_Dad

inspector_monkfish wrote: »

assuming your kids are earning enough money to be able to move out of your castle, and buy a house of their own at the same time as your predicted height of the next housing boom

good luck

We set up a savings plan for both of them when they were born to pay for University or the deposit on a house - depending on what they decide to do in the future. We put away £100pm for them, so it should be a tidy sum when they turn 18 and decide what they want to do. I'd imagine if they decide not to go to Uni then they wouldn't be looking to leave home until they're in their 20s, so the savings will have even longer to accrue, assisted by any extra they pay in from their jobs. I'm hoping they to go Uni though, and if they do, that at least they will enter the workplace with zero debt.

If we do get a much larger place, we'll be spending a large part of their childhood and early adulthood blitzing the mortgage (just as we are now) so I'd imagine that we'd have a low enough mortgage to help them out with buying a house if necessary - though I'd hope that they'd be in a position to help themselves, that's one of the 'yardsticks' that I'll be using to see if we have been a succesful parents - kids who are happy, have good jobs and are responsible with money and are able to fend for themselves.

One can hope

inspector_monkfish

Dithering_Dad wrote: »

We set up a savings plan for both of them when they were born to pay for University or the deposit on a house - depending on what they decide to do in the future. We put away £100pm for them, so it should be a tidy sum when they turn 18 and decide what they want to do. I'd imagine if they decide not to go to Uni then they wouldn't be looking to leave home until they're in their 20s, so the savings will have even longer to accrue, assisted by any extra they pay in from their jobs. I'm hoping they to go Uni though, and if they do, that at least they will enter the workplace with zero debt.

If we do get a much larger place, we'll be spending a large part of their childhood and early adulthood blitzing the mortgage (just as we are now) so I'd imagine that we'd have a low enough mortgage to help them out with buying a house if necessary - though I'd hope that they'd be in a position to help themselves, that's one of the 'yardsticks' that I'll be using to see if we have been a succesful parents - kids who are happy, have good jobs and are responsible with money and are able to fend for themselves.

One can hope

thats all we can do
life is not always so straightforward though