MSE news: House prices rise marginally, says Land Registry

System

Graham_Devon wrote: »

Is it just me who is a little surprised at the figures?

Ok, benefit of the doubt then, what figure wouldn't you have found surprising? Or what were you expecting?

IveSeenTheLight

Graham_Devon wrote: »

I am simply surprised by the difference when comparing month on month between the index's. THAT is all

surprised by a variance of less than 1% when they are totally different sets of figures

Do Halifax, Nationwide or LR figures ever match exactly? No, so you have a variance :wall:

StevieJ

So Dev expects higher HPI than the Bulls

mr.broderick

MSE_Guy wrote: »

This is the discussion thread for the following MSE News Story:

"Property prices rose nominally in England and Wales during June, according to the Land Registry index.

Typical values were up 0.1%, meaning the average property price is now £153,046. Prices are down by 14% compared to this time last year..."

Read the full story:
House prices rise marginally, says Land Registry

Bit of a blow for the bears.
Graham at least you are in slightly less negative equity today ?!!

mbga9pgf

as far as LR goes i don't think they've been fiddled - they are simply updating/amending data.

Agreed; however, their claim on the website that:

Land Registry's House Price Index is the most accurate independent house price index available. Using our data set of completed sales, it is the only index based on repeat sales. It includes figures at national, regional, county and London borough level.

Is questionable, as it doesnt include all the things that we have mentioned on threads ad infinitum and thus has its limitations. Although as previously stated, as long as you account for it, I prefer it as an index.

chucky

mbga9pgf wrote: »

Is questionable, as it doesnt include all the things that we have mentioned on threads ad infinitum and thus has its limitations. Although as previously stated, as long as you account for it, I prefer it as an index.

it's the way it works and how it's always worked. a house has to be sold before it is listed in the index. it was like this when prices were going up and it was like that when prices were going down.

ad infinitum isn't an understatement - many talk about it as if they know how it works and what it does. unfortunately they don't, here is the problem

ess0two

chucky wrote: »

as i said - up to you how you take it.

i don't think that was the case and there is no point in discussing it further - we won't get anywhere.

your big enough and ugly enough to know how to deal with it.

I griped about be called a !!!!!! for having a differing opinion,perhaps i've milked it to some extent.

Should our paths cross again, i hope its in more amicable circumstances-AD

skap7309

Joeskeppi wrote: »

I expect the LR figure to become "laggy and unreliable" from this point onwards, relegated from "the only one worth checking".

Alright mate. I had a discussion with my 'bull' father yesterday and he suggested the figures were manipulated also to enable ramping. My reply? No, they are a reliable source and i have every reason to believe it.

Bottom line is, am i quaking in my shoes? Hardly. Still believe there is a long way (we are talking years) to go.

skap7309

chucky wrote: »

who do you think there will be more of?

1. People who dont need to sell will hold out for asking price.
2. People who dont need to buy will hold out for more falls.
3. Everyone else stuck inbetween doesnt get a choice - which is those that need to buy

Eventually people holding out for a clearly unrealistic price will quite rightly want to get on with their lives so will eventually give in and sell. Your talk of number 3 can entirely work both ways - remember the three Ds? (Death, divorce and debt). I am sure the pressure is FAR greater for these sets of people.

mitchaa

It may be only showing a 0.1% rise due to the fact Scotland is not in there propping it up as it is the case with the Halifax and Nationwide indexes

Along with 3mths lag.

Still i think its clear that we are now in for a long stagnation period.