Debate House Prices


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Land Registry DOWN again in May.

12346

Comments

  • pizzagirl
    pizzagirl Posts: 356 Forumite
    Here's the full document:

    http://www1.landregistry.gov.uk/assets/library/documents/hpi26june2009e.pdf

    I see house prices dropped a whopping 1.5% in Greater London during May. So great news for anyone living in the capital. :T
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Graham_Devon wrote: »
    I kind of understand the game now. Honestly, I do.

    When the LR is down, we focus on our very own local areas. ...And Merthr Tydvil of course..

    When the LR is up, it's back to focusing on a National Level and average prices vs average wage and how correlated they now are.

    ....well, I suppose Merthr Tydvil is now a little presumptious of me. I apologise.

    I always recommend that people focus on their local area, regardless if the UK average us up or down.

    No game GD, just consistancy with me ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    I always recommend that people focus on their local area, regardless if the UK average us up or down.

    No game GD, just consistancy with me ;)

    Hey, if your going for consistency, hope your gonna stick with posting up Tydvil! ;)

    Lovely avatar by the way :)
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Graham_Devon wrote: »
    Hey, if your going for consistency, hope your gonna stick with posting up Tydvil! ;)

    Lovely avatar by the way :)

    True I posted the LR graph for Merthyl Tydvil and true, this month they are showing down.
    Apparently still the lowest YoY drop.

    Why did I post this area, to correct the posts of people saying ALL areas are down, when it simply was not true.

    You never know, there could be MT lurkers in here who appreciated knowing their area had not dropped like the UK average and they ight also be glad to know that there is a drop this month.

    Thanks about the avatar by the way, I'm lucky to have such a happy son.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »

    Thanks about the avatar by the way, I'm lucky to have such a happy son.

    Sure are, and he certainly looks happy there! :)
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Let's be honest.. Merthyr Tydfil was the last domino to fall.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    Cheers Gen.

    We can expect LR figures to go positive for a few months from now (like Haliwide did a few months ago).

    My guess is Haliwide will go negative again at some point later this year as interest rates rise and/or unemployment keeps rising. There simply isn't the mortgage finance available to keep house prices where they are now RMBS have been taken out of the funding picture.

    IMO at least.
  • Chris2685
    Chris2685 Posts: 1,212 Forumite
    StevieJ wrote: »
    True, in 1990 you would have needed 65% of your income to pay the mortgage now it is 31% (average of course).

    Anyone know what the average is for a FTB in the South East? I imagine even more than the overall average :S

    That's a lot to find each month really.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 27 June 2009 at 10:30AM
    Chris2685 wrote: »
    Anyone know what the average is for a FTB in the South East? I imagine even more than the overall average :S

    That's a lot to find each month really.

    Here are the figures, under affordability at the bottom.
    It is 4.77 now 5.18 average.
    and 34.5% of income, average 49.8%, 1990 was 99.8% :eek:

    http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp
    '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 Thatcher
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    March's RPI was -0.4% I believe, so if house prices fell 0.2%, does this mean we've technically had real terms HPI?
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
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