House prices in all UK regions rise for first time since financial crisis

Turnbull2000

http://www.yourmortgage.co.uk/your-mortgage/news/2294874/uk-house-price-growth-way-below-average

Specialist residential investment adviser London Central Portfolio (LCP) has warned that current speculation about a property price bubble is wildly premature, and that house price recovery remains fragile.

It points out that, according to data collected by the Office for National Statistics, average UK annual house price growth since 1969 has come in at 9.4% a year, with property prices on average doubling every seven years.

Current price growth is vastly under the long-term average, with the Land Registry House Price Index recording growth of just 0.67% per year over the last seven years (July 2006 - July 2013). This equates to a fall in real prices of -3.1% p.a, allowing for inflation.

This compares with growth of 13.22% p.a. in the seven years before (1999 – 2006), reflecting the recovery of the housing market after the price doldrums of the 1990s.

Percy1983

I will say I only look at LR data.

April 2008 283.53 (peak)
August 2013 214.03

I am up for data sets showing slight variances and accept lag on LR, but I really must me missing something. They need to raise 35% soon to get to +10%.

shortchanged_2

IveSeenTheLight wrote: »

This shows the change in the last quarter is 10% for the City of Manchester.

Is the City of Manchester as big as the City of London?

London's ancient core, the City of London, largely retains its 1.12-square-mile (2.9 km2) mediaeval boundaries and in 2011 had a population of 7,375, making it the smallest city in England.

Mallotum_X

LR still has some falls - http://www.bbc.co.uk/news/business-24290055

However, data from the Land Registry, published on the same day, suggested that some areas of England and Wales were still recording house price falls.

It said that the North East and North West of England, as well as Yorkshire and the Humber, and Wales all recorded house price falls in August compared with the same month a year earlier.

It said the fall was biggest in the North East, which saw a 2.2% drop.

But as said above this may be lag, in which case presumably this will all be positive in a couple of months?

grizzly1911

IveSeenTheLight wrote: »

It's quite interesting that the LR can show the House Price Data
http://www.landregistry.gov.uk/public/information/public-data/price-paid-data

WA14 seems to be a nice postcode as the top three sales for Greater Manchester was there (1.85 million, 1.14 million and 1.12 million)

On the border with Cheshire.

Altrincham, Dunham Massey, Hale Barns, Timperley, Bollington. North of Wilmslow which was Porsche Cayenne metropolis in it's day.

Thrugelmir

grizzly1911 wrote: »

On the border with Cheshire.

Altrincham, Dunham Massey, Hale Barns, Timperley, Bollington. North of Wilmslow which was Porsche Cayenne metropolis in it's day.

Footballers country....

Percy1983

grizzly1911 wrote: »

On the border with Cheshire.

Altrincham, Dunham Massey, Hale Barns, Timperley, Bollington. North of Wilmslow which was Porsche Cayenne metropolis in it's day.

Seems to be a lot of fiat 500's these days.

grizzly1911

Percy1983 wrote: »

Seems to be a lot of fiat 500's these days.

Yep but they advertise them as season collections these days. The new Autumn/ Winter range is out now.

http://www.tvadmusic.co.uk/2013/09/fiat-500-autumnwinter-collection/

The rate they are piling on the pounds they w ill be Cayenne sized next year.

wotsthat

Loughton_Monkey wrote: »

Looks like they have another 20% or so to go up to get back on the long term trend line.

From the original Nationwide release:

“While there have been encouraging signs that house building is starting to recover, construction is still running well below what is likely to be required to keep up with demand. New housing starts in England were up 33% in Q2 compared to the same period of 2012, but this is still 36% below the levels prevailing in 2007, which were already below that required to keep pace with household formation.

“The risk is that if demand continues to run ahead of supply, affordability may become stretched. House price growth has been outstripping average earnings growth since the middle of the year, for the first time since late 2010. However, affordability is being supported by the ultra low level of interest rates. A typical mortgage payment for a first time buyer is currently equal to around 29% of take home pay, in line with the long term average.”

Personally, I don't see it as a 'risk'. More a certainty

That Loughton Monkey knew what he was talking about.

dharm999

Edinburgh seems to have gone crazy over the last 6 months or so. We've been looking at property and have been outbid on two, with both properties going for a third over the home report value, completely mad. The flat we bought last year, which is not in the best of areas, is up nearly 30%, which again is madness. The recovery, if there is one, is certainly patchy.