Land Reg -0.3%

Batchy

Thing is, as much as the indices are moving, if you live in the real world, this reflects the sales that people made and agreed 4 months ago... and since then the market has been percieved as boyant, and actually. To buy a property now, that reflects a bargain, just doesnt seem to exist.

Just for any potential buyers information Post office are doing a 2 year fix at around 3.5% with only a 15% deposit. This IMO is what defines the market. It should what banks think about movements in interest rates too!

Losing_the_way

These figures show that volumes are still very poor. We need to see an increase in volumes for the good of all employed in the sector and the sooner the better. Things are getting uncomfortable.

geneer

Graham_Devon wrote: »

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.

And about 7.7% in real terms.

geneer

Pimperne1 wrote: »

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

Really? You seemed to know exactly how much when you stated that

Pimperne1 wrote: »

Sale price averages are being skewed by the number of distressed sellers. T

Oh well.


One minute its "mortgages have never been cheaper" to "the markets skewed by distressed sellers". I do wish you guys would make your mind up.

Graham_Devon

geneer wrote: »

And about 7.7% in real terms.

You are correct.

But it doesn't really mean much, as no one is really getting real terms increases in income, infact were poorer as a nation, according to an article yesterday, so the real terms part doesn't really help us buy houses. They are probably more expensive now compared to income than they were a year ago because everything else that we need to buy has taken more money out of the income pot.

Real terms matters more to BTL etc, when the property is an investment.

geneer

Graham_Devon wrote: »

You are correct.

But it doesn't really mean much, as no one is really getting real terms increases in income, infact were poorer as a nation, according to an article yesterday, so the real terms part doesn't really help us buy houses. They are probably more expensive now compared to income than they were a year ago because everything else that we need to buy has taken more money out of the income pot.

Real terms matters more to BTL etc, when the property is an investment.

Not sure about that.
There was an article the other day that the public sectors getting rises.

Also, checking the average salary against inflation since peak, and wages are just about keeping up.
Might not remain the case, but it appears to be the case up to now.

IveSeenTheLight

Graham_Devon wrote: »

Real terms matters more to BTL etc, when the property is an investment.

Capital profit or losses are only realised AFTER the property ceases to be an investment.
Whilst it is a BTL, it's the rental returns that govern whether there are profits or losses (real or nominal).

Graham_Devon

Pimperne1 wrote: »

It only came out at 1100, I expect it will be covered in all the papers tomorrow. To be fair though -0.3%, is it worth mentioning?

Well it still doesn't seem to get a mention in the express.

No wonder it's the bull's bible! Only gives you what you want to read and doesn't even attempt to challenge you with any other viewpoint.

pbouk

so lending is at a historic low and in the months of the year when prices are meant to be rising what do we see? FALLS FALLS FALLS.

i wonder what excuses the bulls are going to come out with next! its happy days for me as i have a huge deposit,prices down around 10% YOY in my area and i am in no rush to buy either, just happy to watch it go DOWN.:beer:

Percy1983

undetterred wrote: »

Go knock one off in the back bedroom,watch yer ma or da dont catch ya.

Jealous much?, Seems you may just be upset that things are going my way, as it is my other half did join me in some celebration action last night as our dreams are getting closer.

The end of the day this is nothing but good news.

1, Young people buying cheaper so have more money to put into the econemy for the next 25 years.

2, Boomers 'losing' some of the equity they did nothing to earn.

I will say I do have feeling for those in negative equity who need to move, but in many cases negative equity just means stay longer which for many isn't a problem.