LAND REGISTRY data finally shows FALLS in House Prices

Woby_Tide

phlash wrote: »

The most accurate measure of house prices, the land registry, measures its house prices by the SOLD prices. Their data is therefore often six months delayed. These latest figures are telling us what happened 3-6 months ago! Who knows what is going on now, hold on tight! (Remember there have been two more rate rises since then, and another one at least to come)

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/fy.stm

Check your area!

Mine is down 2.9% in ONE QUARTER! Oh dear.

A correction may well have already started.

and the award for most ill thought out argument goes to.....


so it's a bit of a localised correction

(a surprising 5.9% quarter 15.1% annual rise in our patch, which is surprising as teh rpices I've noted have been fairly flat over the last 12 months or so)

hedgehogpenguin

maybe Phlash has upset his neighbours....

nollag2006

Hertsmere
Average Cost: £334,653
Detached: £694,607
Semi-detached: £304,642
Terraced: £249,477
Flat: £195,236


Change in last quarter: 1.2%

Change in last year: 19.3%

Sales: 465



Long may price rises like this continue !!!

Romani_Ite_Domum

CB1979 wrote: »

well if this correction is adding on 10% per year, bring on the correction! lol

House price
0606 130000
0706 131170
0806 132351
0906 133542
1006 134744
1106 135956
1206 137180 YOY HPI in Croyden
0107 138414
0207 139660
0307 140917
0407 142185
0507 143607
0607 143607 10% "well if this correction is adding on 10% per year, bring on the correction! lol"
0707 142171 8% Great my house is still going up by 8% a year yipee!
0807 140749 6% looking good!
0907 139342 4% Markets cooling a little
1007 137949 2% Could be in for a period of stagnation
1107 136569 0% Markets stagnated, but it will bounce back
1207 135203 -1% Ah well at least it worth a lot more than I paid for it
0108 108163 -18% !!!!!!!!

HenryWeston

North Yorkshire
Average Cost: £166,985
Detached: £289,912
Semi-detached: £142,497
Terraced: £120,183
Flat: £110,327

Change in last quarter: -22.6%
Change in last year: -16.9%
Sales: 1268

Coming soon to your town

keeperbear

HenryWeston wrote: »

North Yorkshire
Average Cost: £166,985
Detached: £289,912
Semi-detached: £142,497
Terraced: £120,183
Flat: £110,327

Change in last quarter: -22.6%
Change in last year: -16.9%
Sales: 1268

Coming soon to your town

Sorry mate, but overpriced property in Yorkshire has no bearing on London prices. Prices are still increasing strongly in my part of West London. With the boost from Polish immigrants, the London Olympics and Heathrow's Terminal 5, property will continue to increase strongly over the next five years.

It is about time that the North-South divide in property prices widened to its normal historic level.

mystic_trev

By any stretch of the imagination, no one can say that House prices aren't continuing their upward climb. However, as a Nation with huge personal debt and increasing Interest rates (swaps are now indicating they might go higher than 6% early next year) it's a question of if, not when, the bubble bursts.

CB1979_2

yep we all know that trev (well most i'm sure)

I can't believe that the flats (sorry "apartments") in my building have increased by so much.

when my fixed period is up in another 13 months, i will probably look to sell anyway and rent, so for the forseeable i hope they continue to go up up up!

phlash

Some are obviously missing the point, there are plenty of places showing negative QoQ. That was before the latest 2 interest rate rises, so wait for these figures in 6 months time. They are the best indication of what is happening, falls always start somewhere, and finish somewhere else. (but don't worry bulls, put on your ear muffs, blindfolds, and nose pegs, you'll be safe then!)
For those that think that 10% YoY house price growth is healthy, then you obviously have little common sense, it is clearly not. It will harvest a generation of resentful, bitter people, unwilling to pay your pension.

wolvoman

keeperbear wrote: »

Sorry mate, but overpriced property in Yorkshire has no bearing on London prices. Prices are still increasing strongly in my part of West London. With the boost from Polish immigrants, the London Olympics and Heathrow's Terminal 5, property will continue to increase strongly over the next five years.

But where will the money come from to sustain these rises you say will continue?

2 bed flats in even the less prestigious areas in West London are costing upwards of £350K. So if a couple of Polish immigrants want to buy one they will need to be earning at least about £40K each? Do you know many immigrants on those salaries?