Land Registry Out 1100 26 Aug 11

Pimperne1

A couple of comments from main report:

"While the rate of annual change
remains negative at -2.1 per
cent, the rate of monthly price
change is 1.3 per cent, taking
the average price in England and
Wales to £163,049. This is the
largest monthly movement since
January 2010.

The number of property
transactions has decreased over
the last year. In February to May
2010, there was an average of
49,600 sales per month. In the
same months this year, the

figure was 45,489".

45k transactions per month is still half a million people buying homes every year. Whilst that's way below what used to be the norm I suspect it reflects only that that those who elected to move for relatively trivial reasons previously are no longer doing so.

Others are taking comfort from the fact that last month's 0% figure has been revised down to -0.3% (although I can't see that in the report).

Pimperne1

Percy1983 wrote: »

Interestingly for me here in Sunny Oldham they have adjusted last months to -1% and this month is -1%.

The best bit for me is:

Jan 2008 (Peak) to July 2011 = -22.4%
Jan 2011 to July 2011 = -9.1%

This really has made my day! :j:beer:

March 2005 prices for me!

You might be happy but if they keep going like that your Mum won't.

ruggedtoast

Its a grim day over on the other place.

This does pretty much bear up what I have been seeing locally. Few transactions and good places selling quite fast, at lower than peak but not crash prices.

I suppose we will see what the end of the year brings.

Pimperne1

ruggedtoast wrote: »

Its a grim day over on the other place.

I know, you'd think they would be used to it by now.

Loughton_Monkey

With another 2.8% drop in the North East, isn't it time we thought of re-drawing a few boundaries and 'donating' a bit of land to Scotland?

I'm beginning to wish I hadn't bunged that £15K into NS&I Index Linked, now. I should have used it to buy ap a whole street in Hartlepool and become a BTL landlord.

Percy1983

Pimperne1 wrote: »

You might be happy but if they keep going like that your Mum won't.

My mum thinks it great to, her children will have lessor mortgages therefore more money and happier lives.

My mum and dad will only be bothered if they drop below the £26k they paid for it... which even I will admit is never going to happen.

Pimperne1

Percy1983 wrote: »

My mum thinks it great to, her children will have lessor mortgages therefore more money and happier lives.

My mum and dad will only be bothered if they drop below the £26k they paid for it... which even I will admit is never going to happen.

Yes, I hear this story all the time.

Generali

ruggedtoast wrote: »

I'm going to be really dim here but wasnt the annual fall two point something before? If the figures go up by 1.3% for a given month why doesnt that halve the annual drop?

Because you're comparing yoy with a different month.

The monthly figures for the past year are:

June 2010 +0.1%
July +0.4%
Aug +0.3%
Sept -0.2%
Oct -0.8%
Nov -0.6%
Dec -0.2%
Jan +0.2%
Feb -0.8%
Mar -1.1%
Apr +0.8%
May -0.4%
June no change
July +1.3%

If there is a rise in October 2011 for example, that will have a big positive effect on the index as at the same time a largish fall drops off the yoy figure.

The index is made up of 6,000,000 eligible sales since 1995 (out of a total of 16,000,000 sales).

ruggedtoast

Generali wrote: »

Because you're comparing yoy with a different month.

The monthly figures for the past year are:

June 2010 +0.1%
July +0.4%
Aug +0.3%
Sept -0.2%
Oct -0.8%
Nov -0.6%
Dec -0.2%
Jan +0.2%
Feb -0.8%
Mar -1.1%
Apr +0.8%
May -0.4%
June no change
July +1.3%

If there is a rise in October 2011 for example, that will have a big positive effect on the index as at the same time a largish fall drops off the yoy figure.

The index is made up of 6,000,000 eligible sales since 1995 (out of a total of 16,000,000 sales).

Thanks, I understand it now. I was thinking that they would always take the figure from a given month and have that as the year's average house price. Then any other months would just deviate up or down from that.

Stats were never my strong point though I have to say! Even saying SPSS now still gives me the collywobbles.

Percy1983

Pimperne1 wrote: »

Yes, I hear this story all the time.

Funnily my parents don't seem to have a selfish greed which I guess is one of the reasons I don't have one.

They know they did nothing to earn said HPI so they don't lose anything if it drops.

I think they also understand its not free money and I would just have to pay it (not literally, but another young person will have to pay there HPI while I pay somebody elses).

As I say it really is good news for the whole family. :j