Land Registry May 2011 -0.4% MOM -2.2% YOY

Percy1983

It would seem house prices are still going in the right direction.

On a personal level locally we are down 9.9% YOY and I figure it as 19.52% less than peak (so now July/August 2005 level).

So Join the celebration, houses now in reach for yet more hard working young people. :beer:

FTBFun

Percy1983 wrote: »

So Join the celebration, houses now in reach for yet more hard working young people. :beer:

If they can get a mortgage, of course.

Percy1983

FTBFun wrote: »

If they can get a mortgage, of course.

Very true, but with each drop things get a little easier.

In my case it will save 2 months of saving for a deposit and rather a large amount in monthly mortgage payments.

As I say still not ideal, but heading in the right direction.

HAMISH_MCTAVISH

Lagging figures, reflecting what was going on in February, not today.

Besides with a 2.2% annual drop but rents soaring, it still makes no sense to rent versus buying the same property for most people in most areas.

Percy1983

I don't disagree with the lag factor involved but as it is it looks like a clear trend is starting for me locally.

By all means does this mean you believe next months or the following month will be positive?

And yes you are correct renting makes no sense, so I won't play that game and stay put a little longer.

Pimperne1

Even if it is a bit laggy this is my preferred index. So, 13% down from peak, quite a big correction but then the peak was a bit frothy (as was the middle of last year so the bears will be able to rejoice for another couple of months on the YoY data).

HAMISH_MCTAVISH

Percy1983 wrote: »

By all means does this mean you believe next months or the following month will be positive?.

It's probably positive this month.

As a seasonally adjusted index, at this time of year that small a "fall" would usually mean prices rose by less than expected, rather than actually decreasing.

But yes, I expect we'll continue to see some positive months, and some negative months this year.

It's still basically stagnation, last month up 0.8%, this month down 0.4%, next month could be up or down.

Percy1983

Stagnation does depend very much on the time scale used, locally I can only call it stagnation if I use July 05 to June 11. :rotfl:

I will admit I do focus much more locally than the average, as locally has an effect on me, an average doesn't.

HAMISH_MCTAVISH

Percy1983 wrote: »

Stagnation does depend very much on the time scale used, locally I can only call it stagnation if I use July 05 to June 11. :rotfl:

Oh I absolutely agree, I can't describe my area as stagnating either, as prices are now around £20,000 higher than the same month in 2007, and up 4% year on year.

:beer:

I will admit I do focus much more locally than the average, as locally has an effect on me, an average doesn't.

True enough, but when discussing on a national debate board like this one, it makes most sense to discuss averages.

As having tens of thousands of threads for each local village, town, suburb, city and county would get a bit cumbersome.;)

ruggedtoast

:j:j:j:j:j:j:j:j:j:j
Timberrrrrr!!!
:money::money::money::money::money::money::money:
:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

:eek:

Pimperne1

ruggedtoast wrote: »

:j:j:j:j:j:j:j:j:j:j
Timberrrrrr!!!
:money::money::money::money::money::money::money:
:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

:eek:

Is this the longest falling tree in history?