Regional House Drops

chucky

Graham_Devon wrote: »

Not on a nationwide level, it hasn't.

Again, you are using a different set of figures. What's the point?

one's mortgage approvals and the other is Sales transactions...

actual sales transactions with sales prices are going to be much more accurate...

phil_b_2

Bit of a bugg3r if you live in London and want to buy.

chucky

phil_b wrote: »

Bit of a bugg3r if you live in London and want to buy.

i wouldn't want top be a FTB full stop... not a pretty time if you want to buy a house and can't get a morgage...

btw... can someone tell about these 'Real' house price drops and how they affect FTBs?

HAMISH_MCTAVISH

Graham_Devon wrote: »

Not on a nationwide level, it hasn't.

Again, you are using a different set of figures. What's the point?

Yes. It has.

The national Scottish average reached a new peak in July 2010, and another new peak in August 2010.

Also in August 2010, the individual markets of Edinburgh, Aberdeen, and Aberdeenshire, amongst many others, reached new peaks.

In addition, a quick glance at the house price websites will show the majority of individual houses that sold in 2006/2007 that also sold again in 2010, selling for a higher price in 2010 than in 2007.

For the love of god Graham, just admit you are wrong.

https://www.ros.gov.uk

Graham_Devon

HAMISH_MCTAVISH wrote: »

Yes. It has.

The national Scottish average reached a new peak in July 2010, and another new peak in August 2010.

Also in August 2010, the individual markets of Edinburgh, Aberdeen, and Aberdeenshire, amongst many others, reached new peaks.

In addition, a quick glance at the house price websites will show the majority of individual houses that sold in 2006/2007 that also sold again in 2010, selling for a higher price in 2010 than in 2007.

For the love of god Graham, just admit you are wrong.

www.ros.gov.uk

These are figures from NATIONWIDE Hamish. That's what is being talked about.

I'm not wrong. You are using a completely different set of figures. Your issue is with the Nationwide. Ring them. Go to the papers and tell them the nationwide is wrong. Tell the financial times they are wrong instead of trying to tell me I'm wrong as you have your own set of figures.

You can cling on to the ROS figures as much as you like. But we all know the data is volitile at best which you use. There was a 34% drop in ONE single month in part of Scotland, the next time you posted them, the same place was positive and has risen 17%. Something like 14 houses has sold, which skews the averages so far it's unreal. It's based on such small numbers, which is why UK wide, Nationwide, Halifax and Land Registry are what are used by the media.

Graham_Devon

Infact...let's look at some data.

Clackmanshire, wherever the hell that is.

Up 19.8%. Jesus. The boom must be positively in absolute full swing up there.

Oh no, hold on, it's based on an entirity of 49 sales. Great. 3 high end sales, compared to no high end sales last month and wow, suddenly property in that area is worth 20% more in a single month.

Or what aout Eilean Sarr. No idea either. But up 27%. The boom is even greater there. How many sales? Oh, 22. Wasn't it this place that was down 30% or so a couple of months ago?!

Shame East Renfrewshire dropped a whole 12.5% in a month.

Wish you would stop clinging on to these figures, especially when stating the Nationwide is wrong.

HAMISH_MCTAVISH

Graham_Devon wrote: »

Infact...let's look at some data.

Clackmanshire, wherever the hell that is.

Up 19.8%. Jesus. The boom must be positively in absolute full swing up there.

Oh no, hold on, it's based on an entirity of 49 sales. Great. 3 high end sales, compared to no high end sales last month and wow, suddenly property in that area is worth 20% more in a single month.

Or what aout Eilean Sarr. No idea either. But up 27%. The boom is even greater there. How many sales? Oh, 22.

Shame East Renfrewshire dropped a whole 12.5% in a month.

Wish you would stop clinging on to these figures, especially when stating the Nationwide is wrong.

Oh dear god, why on earth do I bother?

Graham, stop looking at the notoriously spiky weekly flash data and look at the benchmark monthly reports.

http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html
.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Oh dear god, why on earth do I bother?

Graham, stop looking at the notoriously spiky weekly flash data and look at the benchmark monthly reports.

http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html
.

Look at the nationwide data. That's what this thread is about. That will be all.

chucky

Graham_Devon wrote: »

Look at the nationwide data. That's what this thread is about. That will be all.

chucky wrote: »

one's mortgage approvals and the other is Sales transactions...

actual sales transactions with sales prices are going to be much more accurate...

obviously doesn't fit Devon's desperate agenda...

let's use mortgage approvals instead of the actual sales data...

chucky wrote: »

but can someone explain to me what real house price drops meen to FTBs?

how come you keep on avoiding this question - don't you like the answer or can't you answer it...

geneer

Graham_Devon wrote: »

Look at the nationwide data. That's what this thread is about. That will be all.

I'm sure SPAMISH MCSHOUTY prefers the old news of trailing indicators. He particularly likes blunt averages with a lovely big skews caused by stuttering
unhealthy markets.

To be fair though he was no doubt all giddy over nationwide three months ago too.

More recent data, like say the Nationwide nose dive,
or the ESPC plummet (with much more predicted to come), well they are of no apparent interest and unworthy of discussion.

We can only wonder why. :rotfl::rotfl::rotfl::rotfl: