MSE News: Land Registry reveals house prices up in September

cootambear

chucky wrote: »

the Land Registry and the house prices part of the Land Registry are two different beasts. they perform totally different purposes. i've never understood why they produce house prices figures.

To produce a realistically guide to house prices, which sometimes infuriates the bulls, but in recent months infuriates the bears. Don`t shoot the messenger.

the_ash_and_the_oak

not sure why anyone would be infuriated by the figures!

cafenervosa_2

Search 'Bolton', prices are still coming down.

August -2.9%
September - 1.5%

Average price £96,906

The last time the average price was below this was January 2005.

nollag2006

the_ash_and_the_oak wrote: »

not sure why anyone would be infuriated by the figures!

Continued evidence of rapidly rising house prices (from VIs such as the Land Registry) seem to really infuriate the increasingly despondent bears on here


:j


:j


:j

Cleaver

cafenervosa wrote: »

Search 'Bolton', prices are still coming down.

August -2.9%
September - 1.5%

Average price £96,906

The last time the average price was below this was January 2005.

An average house for under £100k, people wandering round with brilliant accents and amazing pies right on your doorstep. Who says the world is full of doom and gloom?

DirectDebacle

Don't really see this snippet as anything worth discussing. Economy in tatters, unemployment almost at an all time high and set to remain that way for a long time yet. Banks setting stringent loan criteria, around 4x income, for those that have jobs and can actually get a loan.

Crippling tax rises, either direct or indirect, on the way. Vat due to go up. High energy prices etc etc.

U.K. avge. wage around £25k.

U.K. avge house price around £158k.

Consumer confidence around zero.

Do the maths. Work it out.

The real news will be when prices have bottomed out to an affordable level.

Squabbling over shared ownership. Jeez next thing to be included in house prices will be how much the price per room was for 6 people clubbing together to buy a 4 bed house.

chucky

DirectDebacle wrote: »

U.K. avge. wage around £25k.

U.K. avge house price around £158k.

Consumer confidence around zero.

Do the maths. Work it out.

i did do the maths - you should try again you got it wrong

£25k +£25k = Joint Salary
Joint Salary x 3.5 income = can borrow up to £175k then add your deposit

that £175k is well over the average house price that you quote.

DirectDebacle

Joint Salary x 3.5 income = can borrow up to £175k then add your deposit

Joint Salary x 3.5 income = may be able to borrow up to £175k then add your deposit.

Theoretically and mathematically your post may be accurate. In which case the housing market is not overpriced, in the doldrums or the cause of much misery, regret, worry and heartache for millions of consumers.

Basing decisions on the reality of a situation rather than the theoretical possibillities is, in theory, usually the best practice.:D

chucky

DirectDebacle wrote: »

Joint Salary x 3.5 income = may be able to borrow up to £175k then add your deposit.

Theoretically and mathematically your post may be accurate. In which case the housing market is not overpriced, in the doldrums or the cause of much misery, regret, worry and heartache for millions of consumers.

Basing decisions on the reality of a situation rather than the theoretical possibillities is, in theory, usually the best practice.:D

ahhh you've changed slightly, i used your exact figures. they're not good now, right?

the comment about the housing market being overpriced is subjective but has an element of truth in it. but let's forget the theory and look at the reality as you say... 70% of property is owner occupied which means that only 30% rent from council or privately. if it was that overpriced the percentage of rentals would be much, much higher and much less than 70% would be owner occupied...

maybe it may be realised that buying property has always required a certain level of affordability - the last few years have allowed people who may never have been able to afford that opportunity. they are probably the ones that think it's expensive...

DirectDebacle

They are good because I chose a single income of £25k. Not a joint income of £50k. You chose to double it by making it a joint income of £50k, so you did not use my exact figures. You then implied that this would qualify all such earners to borrow £175k. You may be correct but that is not the calculation suggested in my post.

We can go round in circles. As I said the report is not worth debating.