MSE News: Land Registry reveals house prices up in September

chucky

DirectDebacle wrote: »

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.

but you made the point about the single income which is what i initially picked you up on.

why would or should a single income buy and average home; surely a single income would buy a single income/person home?

that's what i'm questioning your post...

DirectDebacle wrote: »

Banks setting stringent loan criteria, around 4x income, for those that have jobs and can actually get a loan.

you suggest only 4 times income can be borrowed - i've shown you what 4 times joint income get's you (actually 3.5X).

using your exact figures and 4 times income (that you suggest) on single salary will probably get you a property worth £120k. as i said before a single salary income will get you a single salary property.

the_ash_and_the_oak

chucky wrote: »

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...

agree w all the above. owner occupancy stats don't lie. its kind of the great irony - Houses are often at their most affordable when they are at their most expensive (because the money is cheap/easy to borrow)

skap7309

ThyKingdomCome wrote: »

ooo bloody hell this is a secret board(shh)! You can't see it unless you sign in!

wt!!!!? why? Is this the matrix?

Because you wont find any MSE ((((hugz)))))) in here.

Think of it like the ally near your house that you will not walk down after dark. Danger lurk here within.

nembot

The land registry data with its flawed like for like comparisons in order to show average prices is about as accurate as throwing up 4 different pieces of paper in the air with random values and then saying prices have gone up or down, depending on which one you pick when it hits the floor.

i.e. More accurate than the businesses and people who NEED hpi, but on the whole - hardly accurate either.

No companies will release their full monthly data, because they don't want anyone to do the real work and show exactly whats going on.

Not seen a sale in months, only further reductions and more stagnation in my local area.

Cleaver

nembot wrote: »

The land registry data with its flawed like for like comparisons in order to show average prices is about as accurate as throwing up 4 different pieces of paper in the air with random values and then saying prices have gone up or down, depending on which one you pick when it hits the floor.

In what way is it like picking a random value from four values?

My understanding is that they log every single completed sale and then give figures on a national and local level. Obviously, every single system has minor flaws and people with have different opions on the best methodology of collating information, but in what way is the land registry 'flawed'?

Harry_Powell

Cleaver wrote: »

In what way is it like picking a random value from four values?

My understanding is that they log every single completed sale and then give figures on a national and local level. Obviously, every single system has minor flaws and people with have different opions on the best methodology of collating information, but in what way is the land registry 'flawed'?

It's flawed because it says that the average house is increasing in value. Come on Cleave, get with the program. :rolleyes:

treliac

the_ash_and_the_oak wrote: »

agree w all the above. owner occupancy stats don't lie. its kind of the great irony - Houses are often at their most affordable when they are at their most expensive (because the money is cheap/easy to borrow)

And borrowed by people who can't afford it, but are persuaded they can, and then we have a crash.

the_ash_and_the_oak

treliac wrote: »

And borrowed by people who can't afford it, but are persuaded they can, and then we have a crash.

well that is the danger obv