Land Registry up 0.4%

Generali

IveSeenTheLight wrote: »

Doubt he will.
Interesting the Land Registry (covers a larger percentage of the market than Nationwide or Halifax) showed an increase.

LR has a pretty big lag (3-4 months) over the Haliwide indices. Also while I think it is the most accurate measure of house prices it has limitations, for example new build, repossessions and probate sales aren't included.

ess0two

Whats an average house / price???????????????

A 2 bed terrace local to me can be had for £70k,similarly a 3 bed semi £125k.

So plenty affordable,unfortunately all areas are different.

westv

westv wrote: »

Remember that these figures are perhaps 2 or 3 months old depending on how long the transaction takes to complete. Whether that makes any difference I have no idea.

IveSeenTheLight wrote: »

This is the release for July so only 1 month out

For completions - as I said.

Chris2685

ess0two wrote: »

Whats an average house / price???????????????

A 2 bed terrace local to me can be had for £70k,similarly a 3 bed semi £125k.

So plenty affordable,unfortunately all areas are different.

What is the average household income in your area?

I certainly agree that outside of the south east, house prices tend to be more supportable by incomes. IF I could land a job up north if I moved up there, we could certainly be able to afford much more bang for our buck than we can down here. However, it is very difficult to get a job at the moment to take that kind of risk.

So, how much is the average household income and unemployment in your area?

ess0two

Chris2685 wrote: »

What is the average household income in your area?

I certainly agree that outside of the south east, house prices tend to be more supportable by incomes. IF I could land a job up north if I moved up there, we could certainly be able to afford much more bang for our buck than we can down here. However, it is very difficult to get a job at the moment to take that kind of risk.

So, how much is the average household income and unemployment in your area?

TBH i aint got a clue,but i suspect wages in the region 20 - 30k???,as examples of friends pay etc,i'm in the North west.

Dirk_Rambo

Really2 wrote: »

http://www1.landregistry.gov.uk/assets/library/documents/HPIJul10snuye.pdf

oh no. the governments making stuff up again. its just as well no one beleives them any more

chucky

Chris2685 wrote: »

I just can't work out how prices can go up when there are so many fewer people buying now... I guess low interest rates plays the biggest part?

there's 80,000 to 90,000 people buying a month...

but.... shushhhhhhh, don't tell people on this forum. they think nobody can afford to buy a house

chucknorris

Chris2685 wrote: »

I just can't work out how prices can go up when there are so many fewer people buying now... I guess low interest rates plays the biggest part?

It's chucky he keeps buying all the property to stop Carol getting a house of her own

Chris2685

lol, but seriously it is something I am interested in. The numbers really don't add up to me. I don't know the right or wrong answer for any of it, just trying to get more info over time. All I can tell is that it is totally unpredictable what will happen in the real world, compared to what should happen with numbers.

Really2

Chris2685 wrote: »

lol, but seriously it is something I am interested in. The numbers really don't add up to me. I don't know the right or wrong answer for any of it, just trying to get more info over time. All I can tell is that it is totally unpredictable what will happen in the real world, compared to what should happen with numbers.

Some have posted them on here if you look at the wage multiples and the average deposits of the people that buy instead of the average UK wage etc the figures are a fair bit more understandable.

There are only so many available houses in the UK, not enough to come down to 3,5X the average wage unfortunately.
The money of the people that can afford that sustains house prices, not the average of all wages.