Land Registry May +0.5% MoM +0.4% YoY

joe_blotts

HAMISH_MCTAVISH wrote: »

Land Registry year on year positive.

So much for "house prices are falling" then.

Hasn't London skewed the figures though, with all those Greek shippping and russian Oil magnates buying prime London property. Over half of all + 1 mill London properties in 2011 went to foreign buyers. Without which the figure would probably be negative. Not much to crow about for the Bulls, House Prices havn't even kept up with inflation desite low Interest rates.

DpchMd

I think we can expect this number to be revised as it looks like there are a few errors with the data.

The most obvious one being a house sold for £28m when it clearly should be £2.8m. There are several like this.

Stagnation continues.

ukcarper

joe_blotts wrote: »

Hasn't London skewed the figures though, with all those Greek shippping and russian Oil magnates buying prime London property. Over half of all + 1 mill London properties in 2011 went to foreign buyers. Without which the figure would probably be negative. Not much to crow about for the Bulls, House Prices havn't even kept up with inflation desite low Interest rates.

Almost all London boroughs are positive year on year including that well known millionaires haunt of Tower Hamlets.

homelessskilledworker

ruggedtoast wrote: »

They are in despair about this over on hpc.co.uk. They are crying.

Is there a Bull on this MSE board that does not spend more time on HPC than here, I picked up another poster who did the same the other day before he quicky removed the post(chucknorris or chegmy legoff)

Graham_Devon

joe_blotts wrote: »

Hasn't London skewed the figures though, with all those Greek shippping and russian Oil magnates buying prime London property. Over half of all + 1 mill London properties in 2011 went to foreign buyers. Without which the figure would probably be negative. Not much to crow about for the Bulls, House Prices havn't even kept up with inflation desite low Interest rates.

It's not skewed the figures, the figures are what they are, and you have to look at your own area, or area you are interested in.

If London starts falling, say due to a Euro crisis, then the index will fall pretty sharply overall.

London is holding the figure up, not skewing it. Does look mighty bizzare this month though, just look at the graph!

joe_blotts

maybe there's a relationship between the EU crisis and London housing as money flows in from europe looking for a 'safe haven' or a bolt hole should any of them PIGGS blow up, economically. Maybe if the EU solves it's problems that tide may reverse.

ruggedtoast

homelessskilledworker wrote: »

Is there a Bull on this MSE board that does not spend more time on HPC than here, I picked up another poster who did the same the other day before he quicky removed the post(chucknorris or chegmy legoff)

I am not a bull. I have more in common with them than many here. But they cut me off because I said that Bruce Banner is a nob.

Thrugelmir

joe_blotts wrote: »

maybe there's a relationship between the EU crisis and London housing as money flows in from europe looking for a 'safe haven' or a bolt hole should any of them PIGGS blow up, economically.

Good shout. London property is a relatively safe haven for Euro money.

chucknorris

homelessskilledworker wrote: »

Is there a Bull on this MSE board that does not spend more time on HPC than here, I picked up another poster who did the same the other day before he quicky removed the post(chucknorris or chegmy legoff)

I've already told you that I don't post on hpc (or any other economy forum), the only time that I have ever been on there (which is probably about 3 or 4 times for a few mins) is when I have clicked a link on a post on this website.

Let's look at this 'bull' label that I seem to have. I think property prices will fall in real terms but probably not in nominal terms over the next 2-3 years (i.e. stagnate nominally). I then think that there will be a slow pick up for 2-3 years (i.e. probably just keeping up with inflation), that gets us to about 2017 when I think price increases will start to pick up pace.

I really don't consider that a much of a bullish position, but maybe others do?

chucknorris

ruggedtoast wrote: »

I am not a bull. I have more in common with them than many here. But they cut me off because I said that Bruce Banner is a nob.

Be careful, I have heard that he has an awful temper, especially when he turns green with envy at homeowners.