DCLG hpi = + 6.2% YoY +2.2% MoM

Really2

Forecast was 3.6% previous month was 2.9%.

Could be any reason for being nearly double the forecast, waiting for a link to the report.

Really2

http://www.communities.gov.uk/publications/corporate/statistics/hpi012010

The key points from the release are:

UK house prices were 6.2 per cent higher than in January 2009 and 2.2 per cent higher than in December 2009 (seasonally adjusted).

The mix-adjusted average house price in the UK stood at £207,159 in January 2010 (not seasonally adjusted).

UK house prices rose by 4.8 per cent in the quarter ending January 2010. This compares with a smaller rise of 2.3 per cent for the quarter ending October 2009 (seasonally adjusted).

Annual average house prices rose in England (6.6 per cent), Scotland (7.1 per cent) and Wales (1.3 per cent), but fell in Northern Ireland (-13.7 per cent).

Annual average house prices paid by first time buyers in January 2010 were 8.9 per cent higher than a year ago. Average house prices paid by former owner occupiers were 5.2 per cent higher.

Annual average house prices paid for new properties in January 2010 were 2.1 per cent lower than a year ago. Average house prices paid on pre-owned dwellings were 6.8 per cent higher.

lemonjelly

What report is this?

Really2

lemonjelly wrote: »

What report is this?

Communities and local Government for Jan

lemonjelly

Really2 wrote: »

Communities and local Government for Jan

Thank you Really2.
Not quite enough to get the builders back into work yet methinks, but a 6.2% rise is probably what most owners would have taken a year ago, all things considered.

Really2

lemonjelly wrote: »

Thank you Really2.
Not quite enough to get the builders back into work yet methinks, but a 6.2% rise is probably what most owners would have taken a year ago, all things considered.

I would have taken stagnant.

Never really looked in to their methodology but they use a fair few sources interesting we are getting disparity in data again.

lemonjelly

Really2 wrote: »

I would have taken stagnant.

Never really looked in to their methodology but they use a fair few sources interesting we are getting disparity in data again.

This disparity we are experiencing is very interesting to me.

I have felt through this downturn that we have seen a lot of contradictory information. One week, a report says consumer spending is up. Next week, another report says retail income is down. Savings up, savings down, & on & on & on.

To me it appears there has been a week of green shoots reports, followed by a week of doom reports.

I think this has lead to a lot of ncertainty about where we are going at the mo, & also how to get ourselves out of this mess. I also feel it has lead to some believing that we are already out of it, & it is only a matter of time before so called normality ensues (fwiw that is possible, but unlikely imo).

But I don't know whether I should be or
from 1 day to the next!

doire_2

lemonjelly wrote: »

What report is this?

One probably based on very low transactions

Really2

lemonjelly wrote: »

But I don't know whether I should be or
from 1 day to the next!

Yes timber one day followed by planting a few trees the next.

Makes some great rants though.:D

Batchy

Feb 2009 WAS AN APPALLING MONTH, low/bad in all regards... so comparing to a completely ridiculous period to one other ridiculous period is going to show some volotile figures indeed, this being one of them.

Prices in different areas are behaving very differently, im betting anyone thinking redcar wilton or other area's with large redundancies are banking on prices going up.

Prices around me are still falling, there are still some dreamers on rightmove who haven't sold for over 12 months, and there are some who come on the market and are sold in 2 weeks. Its all about being realistic... people are no longer stupid with there money, if your not knocking 10% off asking, you paying too much. If your not embarrassed by your offer, your offering too much. Times are still hard!!

Batchy

with all the reductions in house prices, no one is commenting on what fuel costs are doing to most people, increases of 30% in last 6 months are hard to swallow in some cases.

could be an extra 100 per month... that 100 less they can spend on a house now, as they are not necessarily being bailed out by wages inflationary increases. I could go on... but won't lol