house price trends - land registry v. eg halifax

[Rob_T]

am i correct in saying that the only true and real statistics on house prices are those released by the land registry? they are, as i understand it, actual figures logged for prices sold irrelevant of asking price and therefore comparable for any period. i'm not sure what eg halifax and nationwide base their figures on. but using the land registry figures, the difference between peak house prices according to them and now is only -2.83%... halifax and nationwide show drops of between approx 8% and 11%.

looking at his objectively, surely the only real statistics to go by are the land registry ones... or am is missing the point?

[NoelWatson]

Rob_T said:

am i correct in saying that the only true and real statistics on house prices are those released by the land registry? they are, as i understand it, actual figures logged for prices sold irrelevant of asking price and therefore comparable for any period. i'm not sure what eg halifax and nationwide base their figures on. but using the land registry figures, the difference between peak house prices according to them and now is only -2.83%... halifax and nationwide show drops of between approx 8% and 11%.

looking at his objectively, surely the only real statistics to go by are the land registry ones... or am is missing the point?

The land registry lags Halifax and Nationwide by around six months

http://www.fool.co.uk/Property/guides/Understandin...

Edited by NoelWatson on Thursday 28th August 12:42

[FPC]

Plus the latest land reg figures are being witheld.

[NoelWatson]

The quarterly (April-June) figures were updated on the BBC site yesterday

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_...

[esselte]

NoelWatson said:

The quarterly (April-June) figures were updated on the BBC site yesterday

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_...

Using that page prices in my area have risen by 3.2% in the past year

[The T Boy]

esselte said:

NoelWatson said:

The quarterly (April-June) figures were updated on the BBC site yesterday

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_...

Using that page prices in my area have risen by 3.2% in the past year

And mine's up 25.4% for the quarter and 6.7% for the year.

Apparently.

[Ozzie Osmond]

Rob_T said:

am i correct in saying that the only true and real statistics on house prices are those released by the land registry?

Although "official" they are not necessarily the best figures.

Halifax - will be reporting the prices actually paid or received by its customers.

Land registry - reports the amount on which stamp Duty was paid. this is not necessarily the same as the contractual price. And yes, it brings us back to all those blocks of new build flats where developers were most vigorous with their selling tactics. Works like this,

Flat advertised for £250,000
After negotiation, sale agreed at £230,000
BUT developer insists headline price remains £250,000 with a "discount" of £20,000.
Price on the Land Registry transfer is £250,000
Stamp Duty is paid on £250,000
The price officially recorded is £250,000 even though the buyer only paid £230,000.

Why do the developers do this? Because it tricks people into paying more for a flat/house than it is worth! Buyers who try to "search" the registers for prices previously paid only find the inflated headline price and not the price actually paid.

No wonder the market's collapsing!

[shirt]

The T Boy said:

esselte said:

NoelWatson said:

The quarterly (April-June) figures were updated on the BBC site yesterday

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_...

Using that page prices in my area have risen by 3.2% in the past year

And mine's up 25.4% for the quarter and 6.7% for the year.

Apparently.

hmm, mines up 15.1% for the quarter and 8.8% for the year. shirley this is slightly outdated?

[NoelWatson]

shirt said:

The T Boy said:

esselte said:

NoelWatson said:

The quarterly (April-June) figures were updated on the BBC site yesterday

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_...

Using that page prices in my area have risen by 3.2% in the past year

And mine's up 25.4% for the quarter and 6.7% for the year.

Apparently.

hmm, mines up 15.1% for the quarter and 8.8% for the year. shirley this is slightly outdated?

It is indeed

[briSk]

it's right in that it's the largest 'population'.

but as said it lags and for cardboard flats it could mislead. for a proper family house it'll be 'right' but old.

what is the 'legal' situation on them being 'witheld'...???