MSE News: Land Registry: house prices down 0.2% in May

This is the discussion thread for the following MSE News Story:

"Typical property values fell on a month-by-month basis, but also annually for the first time in over a year ..."

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  • Percy1983Percy1983 Forumite
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    It would seem a level stagnation might be setting in, good to see as I am trying to get a deposit together right now.

    Still hoping for further reductions to correct the market but not going up is good enough I suppose.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • hostie1985hostie1985 Forumite
    220 Posts
    I dont think there will be a significant rise any time soon, I'm trying to get a deposit together as well. Alongs house prices don't go ridiculously high, then i am happy :)

    Hostie

    xx
    Saving for a deposit for a place of my own.....
    :jSavings so far £29,450/£40,000:j 73.6% SAVED!!!
    1poll £23.90/£40.00 (claimed 1x£40)
    No Monthly Car Payments left! Paid off on the 5/11/10!
  • ThrugelmirThrugelmir Forumite
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    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Percy1983 wrote: »
    It would seem a level stagnation might be setting in, good to see as I am trying to get a deposit together right now.

    Still hoping for further reductions to correct the market but not going up is good enough I suppose.

    Agree that stagnation may almost be upon us. All the risk in house prices is downward. Biding ones time and saving is is the best option.
  • Damn, think I should go back to my seller and ask them to knock £124 of my £62k accepted offer?

    R
  • NASA_2NASA_2 Forumite
    5.6K Posts
    Damn, think I should go back to my seller and ask them to knock £124 of my £62k accepted offer?

    R
    I'd save £125 if I did the same.
  • jbsurreyjbsurrey Forumite
    17 Posts
    I'd withdraw your offer.
  • NASA_2NASA_2 Forumite
    5.6K Posts
    jbsurrey wrote: »
    I'd withdraw your offer.
    On a point of principle?
  • Don't want to be in negative equity on my first house!

    Seriously though, how can we take these statistics? I was under the impression that house prices are on the rise, I'm guessing this is just a different measure (land reg and not a mortgage provider) and has less to lose if house prices are not on the rise

    R
  • Percy1983Percy1983 Forumite
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    Part of the Furniture 1,000 Posts Combo Breaker
    It all means nothibng in many respects as its all an average, some areas will be up while others are down. Of course it shows an overall slow down which can only be a good thing.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • You can see a breakdown of each county in the report on the land registry website. Most other measures are down now aswell. Nationwide and righmove indicies are the only major ones remaining positive. Nationwide for June is due out tomorrow morning.
    Debt Is Slavery.
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