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Acadametrics down 0.1%
Graham_Devon
Posts: 58,560 Forumite
House prices fell by 0.1% during March, partly reversing February's 0.3% increase, according to the latest LSL Property Services/Acadametrics index. But house prices remained static during the last year with 0% growth, leaving the average UK house price at £222,146.
The number of seasonally-adjusted transactions rose by 6% as buyers rushed to beat the increase of the higher band of stamp duty on properties sold for £1m or more, which rose from 4% to 5% on 6 April.
The latest figures also point to wide regional disparities, with eight of the 10 regions in England and Wales currently experiencing falling house prices. LSL said house price growth in greater London and the south-east was propping up the national average.
David Newnes, estate agency managing director of LSL Property Services, which owns Your Move, said: "Although prices are static, this doesn't mean real property values are staying still. With RPI currently running at 5.5%, property owners are seeing value being chipped away at an alarming rate.
"This is great news for buyers who are able to secure finance. High inflation won't last forever, and the low rates fuelling inflation also mean it is possible to secure good value fixed-rate mortgages.
Buyers should bear in mind that currently, even though wages aren't keeping pace with inflation, property values represent a smaller and smaller proportion of income."
http://www.guardian.co.uk/money/2011/apr/08/house-prices-static-over-past-12-months
Make of it what you will. We'll all see it in our own way anyway
As a guardian commentor points out, it seems their 0% over the last year figures are out, as their March 2010 average prices was £227,000....meaning its 2.5% down over the year?
http://www.acadametrics.co.uk/AcadHPI%20News%20Release%20March%2010.pdf
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Comments
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Yep, you're getting your crash in inflation adjusted terms rather than in the actual price you pay.
Just like in the 90's.
Weird. I kind of thought all you bears would be far more excited.....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Hamish. In the last 8 months house prices are down about 5% across england and wales (see land registry). Add this to about 3% inflation over that peroid and thats an 8% crash in 8 months. Pretty large in my book.I am not a financial expert, and the post above is merely my opinion.:j0
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HAMISH_MCTAVISH wrote: »Yep, you're getting your crash in inflation adjusted terms rather than in the actual price you pay.
Just like in the 90's.
Weird. I kind of thought all you bears would be far more excited.....
Not the first time you've thought wrong Hamish.
I love rewired.0 -
Hamish. In the last 8 months house prices are down about 5% across england and wales (see land registry).
Over winter then....
Shocker.Add this to about 3% inflation over that peroid and thats an 8% crash in 8 months. Pretty large in my book.
Perhaps you'd care to explain the mechanism through which you think inflation adjusted falls are advantageous to the renter versus owner?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Over winter then....
Shocker.
Hamish.
Point out another winter, that wasn't in the period of 2008 - 2010 that house prices fell.
Please.
Because you keep talking about this whole winter thing, and prices reducing in winter, yet I gave you evidence that prices have not reduced in winter all the way back since 2001 up until 2008...and I only stopped there as thats all the data I had.
It's not in any way "usual" that house prices fall over winter. Yet you make out it's just a natural phenomenom.0 -
Hamish. In the last 8 months house prices are down about 5% across england and wales (see land registry). Add this to about 3% inflation over that peroid and thats an 8% crash in 8 months. Pretty large in my book.
It's absolutely mahoosive in Hamish's book, if his description of "gold crashing at a phenominal rate" is anything to go by.0 -
HAMISH_MCTAVISH wrote: »Over winter then....
Shocker.
Perhaps you'd care to explain the mechanism through which you think inflation adjusted falls are advantageous to the renter versus owner?
How can 8 months be winter Hamish. Didnt you learn about seasons in school?I am not a financial expert, and the post above is merely my opinion.:j0 -
Graham_Devon wrote: »Hamish.
Point out another winter, that wasn't in the period of 2008 - 2010 that house prices fell.
Please.
Because you keep talking about this whole winter thing, and prices reducing in winter, yet I gave you evidence that prices have not reduced in winter all the way back since 2001 up until 2008...and I only stopped there as thats all the data I had.
It's not in any way "usual" that house prices fall over winter. Yet you make out it's just a natural phenomenom.
Most of the early 90s0 -
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Graham_Devon wrote: »Hamish......Because you keep talking about this whole winter thing, and prices reducing in winter, yet I gave you evidence that prices have not reduced in winter all the way back since 2001 up until 2008...and I only stopped there as thats all the data I had...
I have complete faith in Hamish.
To spring to his defense, I think he would say 'yes', but all those winters were the wrong sort of winters, with the wrong sort of cold and snow.
I strongly suspect that if we can dig out the figures for 1947, then we would find that they did go down temporarily over the winter - and then perked up 15% or so after that....0
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