MSE News: Land Registry reveals house prices up in September

lostinrates

the sub 50k sale increase...is that shared ownership?

for some reason I thought ales below a certain limit weren't included in the figuresand above a number to...I hate my memory, can someone confirm I am wrong?

but, perhaps more houses have dipped under the £200k and £50 k brackets, driving the buyers?

Really2

lostinrates wrote: »

the sub 50k sale increase...is that shared ownership?

for some reson I thought ales below a certain limit weren't recordedon LR, and above...I hate my memory, can someone confirm I am wrong?

but, perhaps more houses have dipped under the £200k and £50 k brackets, driving the buyers?

I think as long as it is a mortgaged sale and not an auction it is on there. ( I think you are thinking on the mix adjustments so things like the 117% rise in sub £50K do not distort the figures)

I would say the sub £50K would be the north east. You can still get houses there for sub £50K, but it's still not tempting me.

Graham_Devon

lostinrates wrote: »

the sub 50k sale increase...is that shared ownership?

for some reason I thought ales below a certain limit weren't included in the figuresand above a number to...I hate my memory, can someone confirm I am wrong?

but, perhaps more houses have dipped under the £200k and £50 k brackets, driving the buyers?

Could well be, I saw an article the other day which said SO was on the rise, and this would probably back it up.

At 110k, a 40% share would be 44k.

System

But the sale price of the house through the LR would still be 110k, wouldn't it?

Graham_Devon

Joeskeppi wrote: »

But the sale price of the house through the LR would still be 110k, wouldn't it?

No, it would be 44k.

Really2

Graham_Devon wrote: »

No, it would be 44k.

No, sale price would be total sale price!

You then part buy part off the said people, it would be a contract between you and the people offering the part buy. (the people offering the part buy would be the registered owners)

If it went to LR you would be the full owner and have the deeds would you not? (seen as their existance is registering the ownership of land)

If not graham care to provide a link?

chucky

Graham_Devon wrote: »

No, it would be 44k.

i would be very, very surprised at that.

LR works on like for like sales - so the price of the property when it was sold last against selling price now.

if that property sold for valuation price 5 years later the HPI would be at least 200%.

sorry - not for me.

Really2

I have googled it.

Shared ownership is a lease agreement between you and usually HA (or whoever is offering the shared ownership)

So being a lease it will not be down on LR sale prices.
http://www.google.co.uk/search?hl=en&q=are+shared+ownership+on+the+land+registry&btnG=Search&meta=&aq=f&oq=

Graham_Devon

Really2 wrote: »

No, sale price would be total sale price!

You then part buy part off the said people, it would be a contract between you and the people offering the part buy. (the people offering the part buy would be the registered owners)

If it went to LR you would be the full owner and have the deeds would you not? (seen as their existance is registering the ownership of land)

If not graham care to provide a link?

I bought shared ownership. My street is full of results from the land registry with shared ownership prices showing as the price sold.

For obvious reasons I do not want to link up to my street.

Heres an entry however from somewhere I know has shared ownership flats at the end of a development...

3 15/12/2006 £57,200 Flat L No
9 06/02/2004 £49,000 Flat L Yes

L= Leasehold. No= New build.

You do not get a flat in Devon for 57k in 2006, full sale price.

Could probably find loads more, but difficult when you don't know the postcode of shared ownership places!!!

Heres another not far from me....

1 31/07/2009 £43,750 Ter. L No

Really2

Graham_Devon wrote: »

I bought shared ownership. My street is full of results from the land registry with shared ownership prices showing as the price sold.

For obvious reasons I do not want to link up to my street.

Heres an entry however from somewhere I know has shared ownership flats at the end of a development...

3 15/12/2006 £57,200 Flat L No
9 06/02/2004 £49,000 Flat L Yes

L= Leasehold. No= New build.

http://www.hmlr.gov.uk/kb/default.asp?ToDo=view&questId=336&catId=32
As I said they are leases, also as chucky said they only use like for like sales for the results.

The Land Registry HPI is derived from all residential property transactions registered with Land Registry since January 1995, with the following exclusions:

all commercial transactions
transfers, conveyances, assignments or leases at a premium with nominal rent which are:
subject to a lease
subject to an existing mortgage
to effect the sale of a share in a property
by way of a gift
by way of exchange
under a compulsory purchase order
under a court order
to Trustees
vesting deeds
transmissions or assents of more than one property
leases for seven years or less

So please stop.

All you can see is the purchase price of your lease. Not the purchase price of the property.