Land Reg -0.3%

Pimperne1

ILW wrote: »

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

Yeah, but in "real" terms it has gone down.

Batchy

Even if the sales are not from distressed sellers, the main buyers are the mover uppers, as its now cheaper for them to buy the more expensive property... Good move... nothing negative about that.

The poeple losing out with be those selling UP, divorcees bereavement, and probate or care home movers.

At the end of the day, they all own the asset out right so they feel the hit, however, its not all bad... lol...

Id be more worried if

HOUSE PRICES ARE NOW WORTHLESS... however, therefore no one will ever sell... it will only ever be this bad if we have an appocalypse, and only Will Smith is left alive... lol

wotsthat

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 can see the logic.

Distressed sellers have to sell whatever the state of the market. People snuff it and leave estates to administer regardless.

If the number of distressed sellers is stable and total transactions is lower then the proportion of distressed sellers must be higher.

Makes not much difference - stagnation continues.

Horizon81

-9.3 YoY in my neck of the woods so happy days.

IronWolf

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.

wow the north is really taking a hammering

£100k for a house now in the NE, hard for a Londoner to even comprehend

WestonDave

Interesting to look at the county figures - not many annual base rises but some of those that are there are wierd. Bath, Slough, Windsor, and Wokingham you'd expect (although I think the Bath ones are being pulled down by the surrounding rural areas within the district judging by the ridiculous prices on our road right now!), but Warrington, Conwy and Merthyr Tydfil?

House over the road has just gone on the market - similar design to ours except theirs is slightly bigger and has one room split into 2 to make it a 4 bed rather than a 3 (we are thinking of doing the same). Priced nearly 40% higher than we paid in 2006 for ours! Obviously they won't get the asking price, but its still 25% more than the original asking price on ours (it dropped twice before we then put an offer under that!). Looks like Bath is still bucking the trends - in a way nice for me, but pretty miserable for the people that we need to be able to live here in order to have decent teachers and nurses etc.

Graham_Devon

WestonDave wrote: »

Interesting to look at the county figures - not many annual base rises but some of those that are there are wierd. Bath, Slough, Windsor, and Wokingham you'd expect (although I think the Bath ones are being pulled down by the surrounding rural areas within the district judging by the ridiculous prices on our road right now!), but Warrington, Conwy and Merthyr Tydfil?

House over the road has just gone on the market - similar design to ours except theirs is slightly bigger and has one room split into 2 to make it a 4 bed rather than a 3 (we are thinking of doing the same). Priced nearly 40% higher than we paid in 2006 for ours! Obviously they won't get the asking price, but its still 25% more than the original asking price on ours (it dropped twice before we then put an offer under that!). Looks like Bath is still bucking the trends - in a way nice for me, but pretty miserable for the people that we need to be able to live here in order to have decent teachers and nurses etc.

Tallys with the average...

From the land registery BBC report I linked to earlier:

The property website Rightmove recently reported that this month the average asking price in estate agents' windows had risen by 1.5% to just over £233,000 - a huge 44% more than the actual selling price of homes the previous month.


"The result of this difference of opinion is that the market is seizing up with low sales volumes reflecting that very few buyers and sellers can agree on a mutually uncomfortable price," he said.


"Sellers need to wake up and realise that an optimistic guide price just makes you look greedy and unrealistic."

IveSeenTheLight

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.

Graham,
Your looking at the wrong column
You've quoted the annual change and not the monthly change

The monthly figures are: -

East 0.8%
East Midlands 0.7%
London 0.5%
Yorkshire & The Humber -0.3%
North East -0.6%
South East -0.7%
West Midlands -0.9%
North West -1.1%
South West -1.1%
Wales -1.7%

http://www.landreg.gov.uk/upload/doc..._11_ta6ds1.pdf

Graham_Devon

IveSeenTheLight wrote: »

Graham,
Your looking at the wrong column
You've quoted the annual change and not the monthly change

The monthly figures are: -

East 0.8
East Midlands 0.7
London 0.5
Yorkshire & The Humber -0.3
North East -0.6
South East -0.7
West Midlands -0.9
North West -1.1
South West -1.1
Wales -1.7

Well that's embarrasing.

Give me a while while I think of a way out of my predicament!

IveSeenTheLight

Graham_Devon wrote: »

Well that's embarrasing.

Give me a while while I think of a way out of my predicament!

It's not a problem, just happy to clarify.