DCLG hpi = + 6.2% YoY +2.2% MoM

Really2

Batchy wrote: »

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.

Best wait until next month than as this was Jan.:o

But that is how YOY works, you can't not do it because the figure last year showed a big fall and this one was positive.

Really2

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=3339314

MOM was 2.2%

LONDON (SHARECAST) - House prices jumped 2.2% in January, according to the Department for Communities and Local Government, with low interest rates and affordable prices driving growth.

The annual increase leapt to 6.2%, up from 2.9% in December and just 0.5% the month before, the first positive read since the middle of 2008.


“The lagging nature of the DCLG data means that it does not fundamentally alter our belief that house prices will be erratic and prone to corrections in 2010, and will probably be no better than flat over the year,” said Howard Archer, chief UK economist at IHS Global Insight.

neas

doire wrote: »

One probably based on very low transactions

Or.... one random report that coincides with OPs viewpoint... seriously what has this place got down to but finding reports that are obscure and nobody heard of lol.

Before it was land registry, nationwiwde and halifax.... now its well i cant remember what this is.. but you get the ponit...

:T

Really2

neas wrote: »

but you get the ponit...

No is it catching.

TBH I think think all have used these reports, but then I suppose when it is positive it is my fault.

Is that your point?

chucky

Really2 wrote: »

No is it catching.

TBH I think think all have used these reports, but then I suppose when it is positive it is my fault.

Is that your point?

what he doesn't understand is that they all follow the same trend - but let's ignore that and pretend it's all fixed and the numbers are manipulated just because it suits his point of view...

Batchy

Really2 wrote: »

Best wait until next month than as this was Jan.:o

But that is how YOY works, you can't not do it because the figure last year showed a big fall and this one was positive.

True, but same principle, as Jan was just as bad!

IveSeenTheLight

Batchy wrote: »

Prices in different areas are behaving very differently, .........................................

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!!

I spoke to a colleague of mine who bid on a house with a closing date last Friday.
He bid 6.8% above the asking and found out he was 8th out of 10 bidders
Your absolutely correct that different areas are acting differently.

To prove it's not anecdotal, the property was 11 Airyhall Road AB15 7TQ
Here's the link showing the price was offers only.
http://www.aspc.co.uk/cgi-bin/public/SINGLE?ID=277410
this will likely be removed from the site shortly as it is in process of completion
The property is also in need of modernising, so not as if people are paying for work already completed.
Price was offers over £250k and we'll see in three months what it actually went for.

I guess if you offered 10% below, you'd have been 11th out of 11

Emy1501

Don't these figures lag a few months like the LR? Therefore only really show what people were offering 3-5months ago.

Jonbvn

IveSeenTheLight wrote: »

I spoke to a colleague of mine who bid on a house with a closing date last Friday.
He bid 6.8% above the asking and found out he was 8th out of 10 bidders
Your absolutely correct that different areas are acting differently.

I guess if you offered 10% below, you'd have been 11th out of 11

To be fair, Scotland has a very different system from E&W. As such, "asking price" means something different in the two locations.

nearlynew

Like all government reports and statistics, this one is spin and bullsh1t.

Not worth taking any notice of.