Friday, October 12, 2007
Up, down or sideways?
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Halifax was down, as was RICS. while Nationwide was up. So what really happened to houses prices in September? The FT/Academetrics index, available here, suggests a small 0.3% rise, on the road to stagnant prices later in the year.

Comments

HI David

I'm not the greatest fan of FT index, because

1) It's based on Land reg Data (and so is behind)

2)It missed out Scotland and NI, so it is isn't really UK

My fav is use a 3 monthly rolling average of the Haliwide indicies, which also shows 0.3%

Jan 0.8%
Feb 0.8%
Mar 1.0%
April 1.0%
May 0.7%
June 0.7%
July 0.5%
Aug 0.6%
Sep 0.3%


Posted by: kingofnowhere at October 12, 2007 01:46 PM

The Rightmove survey on Monday should be interesting.

Posted by: David Smith at October 12, 2007 04:55 PM

HI David

Yes, it should however it is always very volatile, and HIPS is distorting Rightmove, and this month three bed houses instructions will take a plunge. (and as always Rightmove isn't SA.

Look at the graph of New Instructions, to see how HIPS is distroting the market.

http://www.rics.org/NR/rdonlyres/FE208DE8-B9FF-44F5-936A-AF9A4F66AE27/0/HousingMarketSurveySeptember2007.pdf

I Have no idea if Rightmove will show a huge bounce back (Because of last months weak number due to Hips and 4 bed), or it will fall further.


Posted by: kingofnowhere at October 13, 2007 09:52 AM
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