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House prices 'unchanged in May'
abertech
Posts: 2 Newbie
House prices in England and Wales were unchanged in May and up 1.8% over the year, the Land Registry says.
http://news.bbc.co.uk/1/hi/business/7477149.stm
http://news.bbc.co.uk/1/hi/business/7477149.stm
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Comments
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The land registry is catching up with the times....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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neverdespairgirl wrote: »The land registry is catching up with the times.
That used to be a convincing statement, but I think it's wearing a little thin now.0 -
When i look at sold prices in my area (Camberley, S.E) in May 2007 and look at 'asking prices' today there is a massive difference, easily 10%-20% higher. So the notion of Summer of '07 was the peak doesn't ring true for anyone buying today in this locale and fail to negoatiate 10% or more off the asking price. Even if they do manage 10% off, that would only bring it inline with the 'accepted peak'. Although i hope house price falls do happen soon (i'm a prospective FTB) Here we're not experiencing price falls on a wide scale...yet. My property bee is registering quite a number of asking price reductions but they were just unreliastic in the first place!0
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I'm not quite sure why you say that.
It's clear that the Nationwide / Rightmove / Halifax indexes concentrate on, in effect, future purchases. In the case of Rightmove, it's asking prices, and in the case of the other two, mortgage offers. So exchange hasn't happened in those cases yet.
The Land Reg figures concentrate on the past, on completed sales. The figures released show, as I recall, sales which were completed in March. So that's months behind the others, in terms of the cycle.
My bet is that land reg figures for April, May and June when released will show falls....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
LR will go monthly negative next month, and YOY negative the month after if not next month
want a 50p bet on it
It's a health benefit ...0 -
neverdespairgirl wrote: »I'm not quite sure why you say that.
It's clear that the Nationwide / Rightmove / Halifax indexes concentrate on, in effect, future purchases. In the case of Rightmove, it's asking prices, and in the case of the other two, mortgage offers. So exchange hasn't happened in those cases yet.
The Land Reg figures concentrate on the past, on completed sales. The figures released show, as I recall, sales which were completed in March. So that's months behind the others, in terms of the cycle.
My bet is that land reg figures for April, May and June when released will show falls.
Its strange that when the market is going strong, the only figures that should be taken seriously are the LR and Halifax/Nationwide etc should be igonred at all costs0 -
NDG, i was just looking at prices in May (perhaps i should have looked in March) at a street local to me with identical houses and comparing to today's asking prices (some have sold and we lost out on one as we offered 7.5% less than asking price). I fully agree every indicator is pointing down but it hasn't caught on here yet it seems! Frustrating!0
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DO you think, then, that house prices are not falling? Or what?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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neverdespairgirl wrote: »DO you think, then, that house prices are not falling? Or what?
Of course they are.0
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