U.K. House Prices Increase to Six-Month High, Acadametrics Says

Spiv_2

Sept. 10 (Bloomberg) -- U.K. house prices rose to a six- month high in August as demand from cash buyers spurred purchases in London, Acadametrics Ltd. said.
The average price of a home in England and Wales rose 0.2 percent from July to 222,454 pounds ($344,000), the research group said in an e-mailed statement in London today. Values were up 7.7 percent from a year earlier.

Mixed Picture
Recent data give a mixed picture of the British housing market. The Halifax mortgage-lending division of Lloyds Banking Group Plc said on Sept. 8 that house prices unexpectedly rose for a second month in August, while values fell the most in six months according to a report published by Nationwide Building Society on Sept. 2.
While data released yesterday by the Bank of England showed lenders lowered the cost of the most popular mortgages last month, the number of loans being granted for house purchases are still about half the level during the market’s peak in 2007.
If “the U.K. economy avoids a dip and growth recovers, the possibility exists of quite strong house-price growth, especially if mortgage supply is restored,” Williams said.
Acadametrics uses methodology employed by the U.S. S&P/Case-Shiller price index, combining initial housing transaction data from the Land Registry and results from other price measures to produce an estimate for the most recent month. That number is then revised in following months.

http://noir.bloomberg.com/apps/news?pid=20601102&sid=aKsFE0eTJU3I

davilown

Spiv wrote: »

http://noir.bloomberg.com/apps/news?pid=20601102&sid=aKsFE0eTJU3I

I thought the average house price in the UK was around 160 -170k?

1984ReturnsForReal_2

We know not to trust them for further information then..............

Generali

davilown wrote: »

I thought the average house price in the UK was around 160 -170k?

It depends who you ask.

HBOS reckon it's £168,000
Nationwide say £166,500
Land Registry have £167,000
Assetz zay it'z £201,000
FT/Acadametrics go with £221,000

1984ReturnsForReal_2

Generali wrote: »

It depends who you ask.

HBOS reckon it's £168,000
Nationwide say £166,500
Land Registry have £167,000
Assetz zay it'z £201,000
FT/Acadametrics go with £221,000

& Knight Frank will tell you it £1.23 million............

HAMISH_MCTAVISH

I thought this was the bears favourite index......

It was certainly posted enough when it showed a few monsths of falls.

doire_2

The average price of a home in England and Wales rose 0.2 percent from July to 222,454 pounds

:rotfl:....................

System

Is this the one that compares the prices of the same house being sold?

DaddyBear

Up a bit, down a bit. The Market is certainly stagnating. One thing is for sure, the property Market gravy train had ended. Good riddance, looks like a lot of 'developers' will have to find something productive to do for a living.

FTBFun

DaddyBear wrote: »

Up a bit, down a bit. The Market is certainly stagnating. One thing is for sure, the property Market gravy train had ended. Good riddance, looks like a lot of 'developers' will have to find something productive to do for a living.

Property development isn't necessarily unproductive. How can renovating a property and receiving a profit from this renovation be fundamentally wrong?

ILW

I think the "develpers" refered to were the ones that thought that slapping up a coat of magnolia and fitting and B and Q kitcen added £50,000 to the values of a terraced house.