House prices still rising....

[Cyberman]

.. according to mouseprice

'The UK property market has experienced a 40 per cent drop in the number of sales! The Land Registry House Price Index released today shows that the number of transactions in England and Wales has reduced dramatically from the same time last year. In the months December 2007 to March 2008, the sales volumes in England and Wales averaged 61,950 transactions a month, in comparison to the same period last year, when sales volumes averaged 100,693 a month. This 40 per cent drop in transactions indicates that in an uncertain market a significant number of people are choosing to stay put rather than move.

Surprisingly, however, there was no monthly house price change in May. Additionally, contrary to many stories in the media, the annual growth rate remains positive at 1.8 per cent. This is, however, a reduction from last month's figure of 2.7 per cent. The latest Land Registry data once again points towards a weakening (but not crashing) housing market. This month's fall represents the ninth decrease in a row of the annual rate of growth. The average house price in England and Wales is currently &pound183,266, down from &pound183,626 last month.'

[BrilloPad]

.. according to mouseprice

'The UK property market has experienced a 40 per cent drop in the number of sales! The Land Registry House Price Index released today shows that the number of transactions in England and Wales has reduced dramatically from the same time last year. In the months December 2007 to March 2008, the sales volumes in England and Wales averaged 61,950 transactions a month, in comparison to the same period last year, when sales volumes averaged 100,693 a month. This 40 per cent drop in transactions indicates that in an uncertain market a significant number of people are choosing to stay put rather than move.

Surprisingly, however, there was no monthly house price change in May. Additionally, contrary to many stories in the media, the annual growth rate remains positive at 1.8 per cent. This is, however, a reduction from last month's figure of 2.7 per cent. The latest Land Registry data once again points towards a weakening (but not crashing) housing market. This month's fall represents the ninth decrease in a row of the annual rate of growth. The average house price in England and Wales is currently &pound183,266, down from &pound183,626 last month.'

Is there a link?

[Wilmslow]

A house I nearly bought for £240K a couple of months ago is now on sale for £205K.

This is in the supposed bubble of SK9.....

[Cyberman]

Is there a link?

Unfortunately not, as it's in their monthly newsletter which contains personal info.

[polus]

A house I nearly bought for £240K a couple of months ago is now on sale for £205K.

This is in the supposed bubble of SK9.....

Same here (south east though, good commuting town to London). Nearly bought a house at 245, now 220K. I also hear that the acceptable offer figures are much lower.

Still, if a news letter states that they're not falling, it must be right

[Cyberman]

Is there a link?

I just spotted this on the BBC that confirms mouseprices.com's assertions

http://news.bbc.co.uk/1/hi/business/7477149.stm

[ferret]

Aye fill yer boots. 10% per year guaranteed. Only a mug would not buy a house at the minute

Stats and figures can be twisted to fit any point of view.

[NickFitz]

Stats and figures can be twisted to fit any point of view.

Do you have any stats or figures to support that point of view?

Oh, hang on...

[ferret]

Do you have any stats or figures to support that point of view?

Oh, hang on...

Just in case there was a hint of seriousness there... According to the paranoid freaks on housepricecrash.co.uk, the Land Registry figures lag the market by 3 months and also don't include the sale price of repo's so are skewed a little. So they suggest that citing this data in reports that "house crash has stalled" or "rate of falls are slowing" is bad reporting, lazy journalism and also that people with large BTL portfolios run the BBC and therefore they want to talk down any falls in the market. Paranoid? Never

[Diver]

"BTL. Rents still rising"