MSE News: Land Registry: house prices down 0.2% in May 28 June 2010 at 1:05PM in Mortgages & Endowments 10 replies 1.4K views

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"Typical property values fell on a month-by-month basis, but also annually for the first time in over a year ..."

Read the full story:

Land Registry: house prices down 0.2% in May

Percy1983

It would seem a level stagnation might be setting in, good to see as I am trying to get a deposit together right now.

Still hoping for further reductions to correct the market but not going up is good enough I suppose.

hostie1985

I dont think there will be a significant rise any time soon, I'm trying to get a deposit together as well. Alongs house prices don't go ridiculously high, then i am happy

Hostie

xx

Thrugelmir

Percy1983 wrote: »

It would seem a level stagnation might be setting in, good to see as I am trying to get a deposit together right now.

Still hoping for further reductions to correct the market but not going up is good enough I suppose.

Agree that stagnation may almost be upon us. All the risk in house prices is downward. Biding ones time and saving is is the best option.

jockosjungle

Damn, think I should go back to my seller and ask them to knock £124 of my £62k accepted offer?

R

NASA_2

jockosjungle wrote: »

Damn, think I should go back to my seller and ask them to knock £124 of my £62k accepted offer?

R

I'd save £125 if I did the same.

jbsurrey

I'd withdraw your offer.

NASA_2

jbsurrey wrote: »

I'd withdraw your offer.

On a point of principle?

jockosjungle

Don't want to be in negative equity on my first house!

Seriously though, how can we take these statistics? I was under the impression that house prices are on the rise, I'm guessing this is just a different measure (land reg and not a mortgage provider) and has less to lose if house prices are not on the rise

R

Percy1983

It all means nothibng in many respects as its all an average, some areas will be up while others are down. Of course it shows an overall slow down which can only be a good thing.

Henry_P_Chester

You can see a breakdown of each county in the report on the land registry website. Most other measures are down now aswell. Nationwide and righmove indicies are the only major ones remaining positive. Nationwide for June is due out tomorrow morning.