ONS, May, House prices -0.6% MOM, -0.4% YOY

Graham_Devon

UK house prices fell by 0.6% in March, figures from the Office for National Statistics (ONS) have shown, but first-time buyers founds themselves paying 2.8% more than in March 2011.

The ONS, which has taken over the DCLG's house price index, said the average price of a UK property is now £225,283 – 0.4% lower than in March 2011. Over the year, house prices in England and Scotland decreased by 0.3%, while in Northern Ireland they dropped by 10.7%. In Wales, prices were up by 0.4% year-on-year.

Prices in England over the year were pushed down by a 0.2% drop in London – a market which had been outperforming the rest of the country and has not shown an annual fall since October 2009 – and a 1.4% drop in the rest of the south-east.

The ONS figures also showed that while first-time buyers paid more than in March 2011, as the arrival of the end of the stamp duty deadline increased demand, those who were selling and moving paid 1.6% less for their new property.

During March 2012 the average price paid for a house by a first-time buyer was £170,109, while former owner-occupiers paid an average £257,650.

And Howard Archer states:

"Housing market activity is very low compared to long-term norms. And the economic fundamentals currently look worrying overall for the housing market with unemployment high, earnings growth muted, and the outlook highly uncertain and more than a little worrying.

http://www.guardian.co.uk/money/2012/may/22/house-prices-fell-past-year-ons?newsfeed=true

chucky

Graham_Devon wrote: »

ONS, May, House prices -0.6% MOM, -0.4% YOY

Oh gosh, house prices are down 0.4% down in 1 year.

That's a lot.

homelessskilledworker

chucky wrote: »

Oh gosh, house prices are down 0.4% down in 1 year.

That's a lot.

Are you totally damaged?

Nobody yet has even suggested it is a big rise, it is just you just ranting as per usual

chucky

homelessskilledworker wrote: »

Are you totally damaged?

Trying to get personal. Interesting.

Pobby will get very upset with you or maybe not.

homelessskilledworker wrote: »

Nobody yet has even suggested it is a big rise

It's actually a fall not a rise. Do you want to try again?

homelessskilledworker wrote: »

it is just you just ranting as per usual

Ranting?! No, it's a simple post saying that house prices have fallen 0.4% in a year. Don't you understand that?

brit1234

I'm just happy that Land Registry, Halifax and Nationwide are all down month on month and year on year. Anything else is a bonus.

I expect one or two figures to show rises in the coming 10 days but it is the peak selling season after all. 2012 however should be down I hope more than 2011 falls.

Come on all 3 big indexes under £160k shortly. :beer:

crash123

nollag2006 wrote: »

Stop the press - house prices move by a fraction of a percent nationally and move up in London.

The report says:-

Prices in England over the year were pushed down by a 0.2% drop in London – a market which had been outperforming the rest of the country and has not shown an annual fall since October 2009 – and a 1.4% drop in the rest of the south-east.

nollag2006

brit1234 wrote: »

I'm just happy that Land Registry, Halifax and Nationwide are all down month on month and year on year. Anything else is a bonus.

I expect one or two figures to show rises in the coming 10 days but it is the peak selling season after all. 2012 however should be down I hope more than 2011 falls.

Come on all 3 big indexes under £160k shortly. :beer:

Are you still holding out for 50% down by June 9th, as you have been endorsing recently?

If so, it's not looking good...

:beer:

chucky

brit1234 wrote: »

I'm just happy that Land Registry, Halifax and Nationwide are all down month on month and year on year. Anything else is a bonus.

I expect one or two figures to show rises in the coming 10 days but it is the peak selling season after all. 2012 however should be down I hope more than 2011 falls.

Come on all 3 big indexes under £160k shortly. :beer:

Where do you think all of the indexes will be by the end of the year?

homelessskilledworker

chucky wrote: »

Where do you think all of the indexes will be by the end of the year?

Testing the sub £150k barrier