Land Reg -0.3%

Graham_Devon

Other thread has turned into a therapy session.

So down -0.3%, which is obviously the correct direction.

Average house price now at £162,347 having fallen 2.6% over the last year.

http://www.bbc.co.uk/news/business-15089875

Might get more later on the regional differences, as I'd imagine London is again pulling the average upwards.

Really2

Virtually stagnant (still) in 2011.

http://www.landreg.gov.uk/upload/documents/HPI_Report_Aug_11_ta6ds1.pdf

Wales, the North & Southwest are pulling things down more than London pulling things up.

Still looks like things are fairly stagnant as areas are bouncing up and down from month to month, there are no consistent falls or rises (other than perhaps wales and London)

doire_2

An index down? Ohh God thats means another express front page load of !!!!!!!! on the way in the next few days

Graham_Devon

Thanks Really for posting up the link.

London seems to be the only place that increased. Everywhere else has declined this month by over 1%.

So I believe London is definately pulling things up, as if you take London out of the equation, the falls would show an average of approximately 2-3% over the month.

East -1.1%
East Midlands -3.7%
Yorkshire -4.6%
North East -7.8%
South East -2.3%
West Midlands -4.1%
North West -5.4%
South West -2.6%
Wales -5.5%

London +2.1%

Falls are being masked by London. The average has always been the average, and I'm not going to argue that the average is wroong, or doesn't count. Just going to argue that London is pulling the figures up...which is pretty obvious when you look at the size of the falls everywhere else. Some are pretty hefty falls.

In my area, thats 5k wiped off the value of the average house in a single month.

Batchy

Good news, house prices down 2.6%... My house's mortgage is now 2.7% lower than it was a year ago.

Net result... break even, or a little equity made too, happy days!

its a non event!

Pimperne1

Graham_Devon wrote: »

Thanks Really for posting up the link.

London seems to be the only place that increased. Everywhere else has declined this month by over 1%.

So I believe London is definately pulling things up, as if you take London out of the equation, the falls would show an average of approximately 2-3% over the month.

East -1.1%
East Midlands -3.7%
Yorkshire -4.6%
North East -7.8%
South East -2.3%
West Midlands -4.1%
North West -5.4%
South West -2.6%
Wales -5.5%

London +2.1%

Falls are being masked by London. The average has always been the average, and I'm not going to argue that the average is wroong, or doesn't count. Just going to argue that London is pulling the figures up...which is pretty obvious when you look at the size of the falls everywhere else. Some are pretty hefty falls.

In my area, thats 5k wiped off the value of the average house in a single month.

Here's another angle for you then. Sale price averages are being skewed by the number of distressed sellers. The guys who don't need to sell aren't, the guys who do are (which one do you think would rather listen to a reduced offer).

Graham_Devon

Pimperne1 wrote: »

Here's another angle for you then. Sale price averages are being skewed by the number of distressed sellers. The guys who don't need to sell aren't, the guys who do are (which one do you think would rather listen to a reduced offer).

That's pretty poor.

Pimperne1

Graham_Devon wrote: »

That's pretty poor.

Makes perfect sense. Only those desperate to sell are selling so they are prepared to accept a pittance for the biggest investment they ever made.

Graham_Devon

Pimperne1 wrote: »

Makes perfect sense. Only those desperate to sell are selling so they are prepared to accept a pittance for the biggest investment they ever made.

Are you really sat there, genuinely suggesting that all sales at the moment are from distressed sellers?

Seriously?

I knew you had your head in the sand, but didn't realise you were making your own burrow.

ILW

Pimperne1 wrote: »

Makes perfect sense. Only those desperate to sell are selling so they are prepared to accept a pittance for the biggest investment they ever made.

Is only 3 times what you paid for something 10 years ago, really a pittance?

Pimperne1

Graham_Devon wrote: »

Are you really sat there, genuinely suggesting that all sales at the moment are from distressed sellers?

Seriously?

I knew you had your head in the sand, but didn't realise you were making your own burrow.

I think we both agree that there are distressed sellers in there, what we don't know is how many.