What does 'Land registry' mean when buying a property?
Find out what Land registry means when you are buying a property. 'What does Land registry mean?' plus over 150 other property related terms and jargon in plain English
Land registry
Land Registry is the government office for England and Wales that records every property transaction for these regions.
They are often quoted by the press because their data is accurate - they are actual sales that have completed rather than current asking prices.
However this data should be treated with caution as it is historical and lags behind the real market. Sales that completed last month usually represented offers made and accepted 2-4 months ago and property markets can change dramatically in that time period
To find out more about the different ways you can assess the current property market in your area and understand the many different sources of information pick up a copy of my ebook How to Really Buy a Property.
Warning: Undefined array key "search_words" in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 3
Warning: Undefined array key "search_words" in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 4
Search Results for 'property prices' in
How to Really Buy a Property
Warning: Undefined variable $guide in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 155
Warning: Undefined variable $guide_result_num in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 60
Warning: Undefined variable $guide_result_num in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 61
Chapter 1:
The First Questions Are For You
"... Rent? -
Even if you believe property prices are going to move down this does not always mean you would be better off to wait. That kind of thinking leads to a common error made by those renting who forget to take into account their current costs while deciding whether or not to buy.
Here is..."
"... is a simple example. A couple are renting for £1,500 per month in a property worth £250,000. They believe property prices will move down 10% over the next two years so they will wait until the value is £225,000. But in the meantime they will spend £36,000 on rent. A mortgage could have cost them about £12,000 over the same time..."
"... My Motivation to Buy? -
The press and the media are obsessed with property prices. The hankering question asked month by month revolves simply around whether or not prices will rise or fall and for many buyers this overwhelming storm clouds their own considerations.
In reality many people..."
"... assumption is that when property prices are moving down only the insane or the risk hungry investor are out buying. But in reality falling markets are often seen as a window of opportunity for those looking to upsize. Even though their current property is worth less, so is the type of property they are looking to buy, and the cash difference is actually..."
Chapter 2:
The Media and Property Prices
"... generally only when a whole economy goes into a major recession.
What sources the media use when reporting property prices and why these can be misleading;
How media reports are often out of sync with the actual market;
How property prices rise and fall all..."
"... reporting property prices and why these can be misleading;
How media reports are often out of sync with the actual market;
How property prices rise and fall all the time;
How the media manipulates figures to create headlines;
How to know which journalists report accurately;
Spotting..."
"... is a 'news' story and what is a 'new' story;
Real examples of where the press has mislead buyers and sellers.
- What the Media Use to Predict property prices -
There are many sources of data to tell journalists what is happening to the housing market. Here are just a few:
Land..."
"... of misreporting the annual cycle the media also likes to manipulate any statistics it can to make a story, and property is always a good story. Sometimes it may just be poor reporting and research that leads to headlines of "property prices leap 20%" but when reading media articles about real estate values there are several ways to know if the story is worth the paper it is written on...."
"... even in a market as large as London, using data from 2001 to 2015.
property prices move up and down all the time on a regional level and this provides plenty of fodder for journalists to get attention grabbing headlines
Taking the raw data from the graph it is possible to report the above..."
"... where the media do actually quote a source, do the obvious and find out how reliable that source has been in the past. As an example, in the Autumn of 2004 the Nationwide Building Society reported that property prices had fallen for "the first time in three years". This was certainly true according to their own records of what they were lending on. That was the key - what they were lending on...."
"... were lending on.
The definitive figures from Land Registry which included what everybody else was lending on and what had been bought for cash actually showed property prices had fallen twice in the last three years (and four times in London over the same time period!).
Sources of data..."
"... of data from a lender can be very useful but they can also be distorted, often because of marketing or policy changes by that lender. It could have been, for example, that over these three years the Nationwide had been trying to attract more affluent borrowers and so as a result the value of property they were lending on was continuing to increase month after month. If this was the case the data would be a good reason to give everyone in the marketing department of the Nationwide a bonus but it does not accurately reflect true property..."
"... prices.
Further to the above point investigate how the source has come to their figure. This is crucially important. Take the headline, "property prices expected to fall 30% in next two years". Read the text a little more and find the part, "according to the company XYZ".
Company XYZ..."
"... rise above 10% and
if the Bank of England increases interest rates to 10% and
if unemployment rises above 15% then
property prices will reduce by 30% over the next two years
There is nothing wrong with this research and it may be very well argued but there can be plenty wrong with the..."
"... equity, when the price of someone's home becomes less than the value of the loan they took out to buy it, is ever popular. As we have already seen, at a local level, property prices rise and fall all the time. This means there are always people in negative equity. Those who take out 100%+ mortgages are immediately in negative equity but there is little talk of it in the press when the overall market is..."
Chapter 3:
Making House Price Predictions
"... media is only too happy to oblige with regular stories based on the calculations of "experts". In Chapter 2: The Media and property prices misreporting by the press, and the reasons they do it, is covered. But who are these organizations that they use and how accurate has their track record..."
"... prices actually rose 2% with London being one of the strongest performing areas.
On Sky News in January 2013 he forecast a 5-10% drop over the coming year but twelve months later property prices were up 4%.
With such a bad track record Davis is a very good example of the media continuing..."
"... House Price Predictions? -
In general the answer is no one. property prices, like stocks and shares, have too many factors in them and many of these are purely based on confidence and emotion - both of which can be highly irrational in a positive or negative sense.
- The Hidden Agenda for..."
"... than ever, since the start of the Credit Crises, property prices in the United Kingdom have fragmented and so predictions at a national level hold little value to buyers. in 2012, for example, London property prices rose nearly 9% according to Land Registry while Scottish properties dropped 3%...."
Chapter 4:
Understanding the Property Market
"... on this is and how it affects the market see Chapter 6: Property Bubbles and Market Crashes property prices since 1975;
What drives property prices apart from salaries;
What will happen to property prices over the long term;
What is happening to the..."
"... market see Chapter 6: Property Bubbles and Market Crashes What drives property prices apart from salaries;
What will happen to property prices over the long term;
What is happening to the supply of new properties;
The likely..."
"... What will happen to property prices over the long term;
What is happening to the supply of new properties;
The likely effects of Brexit and Covid 19
The difference between..."
"... likely effects of Brexit and Covid 19
The difference between national and regional property markets;
How real property prices actually rise and fall every year;
When you should shop for a bargain and when you should shop for choice;
How you can end up trapped in the property..."
"... amount of land available to build on is restricted and the number of people who want to live in the UK is continuing to increase. One overriding principle to remember, in London, is that property prices have risen, almost continuously, since the end of the Second World War. In some parts of the city they have doubled every ten years over this period...."
"... the problem by showing the decrease in the number of new homes being built over the last forty years:
property prices: Land Registry. New homes built: GOV.UK - Net Supply of Housing
The credit crisis has decreased the number of new dwellings still further as construction companies..."
"... now dealing with other after shocks such as high inflation.
In any normal times such a recession may have lead to a fall in property prices but there are actually a number of factors at play here which point to increases instead.
We would expect people, in normal times, to push what they..."
"...
- Property Market Summary -
All this points to long term price rises but we must be very clear here. Long term does not mean continuous, just that property prices will be higher in ten years time than they are now but there might be falls along the way.
As a perfect example most people..."
"... a perfect example most people believe property prices in London rose non-stop between 2000 and 2008 (when the Credit Crisis began) but the truth is very different. Prices fell three times. Once in 2001 by 6%; then again in 2004 by 3% and once more in 2005 by 4%. They were not year on year falls but quarter on quarter so the graphs that most of the media use for reporting showed..."
"... - The Difference with Local Property Markets -
National property prices dominate the headlines and can often eclipse all else. But only investors search on a national level, most buyers are looking to purchase in a particular location.
So while, on average, property prices might..."
"... while, on average, property prices might increase or decrease - what happens on a regional basis can be quite the opposite of the national picture. Individual areas can experience their own booms and busts which leave some reaping extraordinary short term profits and others languishing in negative equity for years. These stories are rarely reported because, to the media, they have too small an audience to be..."
Chapter 5:
Is the Property Market Overvalued?
"... actually rose 8% in the following 12 months.
Capital Economics, a major think tank with massive statistical resources at their disposal, predicted property prices would drop 20% in 2009 but they did nothing of the sort and remained static.
And they can just as easily be wrong in the..."
"... put lenders and property sellers continue to find ways to ensure prices can continue to rise over the long term. In the 1960s this was the introduction of the mortgage. Highly unpopular at the time, when debt was frowned upon, they have now become a way of life and allowed property prices to rise faster than..."
"... New York, could the same not eventually happen in London, Manchester, Birmingham or any major town or city?
- The Connection Between Average Salaries and Average property prices -
Average salaries and average property prices are in fact only related in the weakest of terms. Ask any..."
"... and Average property prices -
Average salaries and average property prices are in fact only related in the weakest of terms. Ask any statistician to find you the correlation (connection) between the two and they will conclude it is extremely low.
Broadly this is because the..."
"... the same way that buyers can drive the price of property above local affordability (on paper) there can also be scenarios where property prices are well within the grasp of the population but they just don't want to buy. In Germany, for example, there is a culture of renting with someone else taking care of the maintenance. Statistically property prices should rise dramatically as there is a large gap between prices and the buying power of purchasers but it doesn't as actual demand does not..."
"... it comes to making models and predictions even some of the most seasoned economists have come unstuck because of the way they apply logic to the housing market. Logic in economics has strong foundations and can be seen in daily life. If tea becomes too expensive people switch to coffee - substitution. If the price of petrol rises, consumption does not drop dramatically - elasticity of demand. And of course if property prices start to decrease people should stop buying -..."
Chapter 6:
Property Bubbles and Market Crashes
"... In previous chapters we have seen that it is almost impossible to understand, let alone predict, property prices to any great degree of accuracy. The occasional person or organisation that does get it right once is then, more often than not, unable to repeat their success.
We have..."
"... cycle is moving into its' boom period.
Eventually there is an event, such as the global credit crisis of 2008, which shakes confidence out of the system, and a bust occurs. Shares slide, property prices sink and the economy moves into recession.
At this point, en masse, the population is..."
"... of those who live in a country, or even a given location.
The truth is property prices are held up by, and increase because of, confidence. But then so are the stock exchanges, the banks and the whole of the capitalist system.
It is little wonder that Russian socialists during the Cold..."
"... fact, if anything, the crisis of 2008 has shown clearly to what extent nations will go to in order to maintain the essential confidence that glues the system together. In many countries, including the UK, protecting property prices from large falls was part of that plan and a political..."
"... into account.
The same is true of property prices. The more limited your geographic search, the more wildly the data fluctuates month by month. When less people buy and sell, as was the case following 2008, areas where data used to be reliable became of little worth.
And with every..."
"... and busts are different from bubbles and bursts but they are often mixed up by the media. In Britain there has never been a true property bubble which burst on a national scale but it has happened locally. Instead property prices follow the booms and busts of the business cycle and a way to predict this accurately has yet to be..."
Chapter 7:
Why Buy in a Falling Market?
"... there are good profits to be made.
Summary -
Despite the somewhat grave and panic stricken picture painted by the media when property prices start falling, there are actually large numbers of people for whom it is good news.
There is also a substantial body of buyers who are not..."
Chapter 8:
Buying to Let / For an Investment
"... well!
Does the area have or will the area have good transport links - Leyton in East London, for example, is only a few stops on the Central Line from the capital's centre and yet property prices are much lower than areas the same distance from the city but to the North, South or West.
Does..."
"... you are buying off plan be sure to check property prices in the area and no matter how glossy the brochure and how glitzy the show flat is ask the cold hard question: Would I be better off buying something that has already been built? As a double back up make sure you can cover the mortgage for a few months should your purchase be impossible to sell or difficult to rent...."
"... is essential, when buying through a property investment company, to double check all their figures to your own satisfaction and this is something that can be done, in most cases, over the internet. First look at property prices and rentals in the immediate area. Next call local agents to see what actual values are being achieved. For example, is it the norm at the point that you are buying for property to be selling at 10% below the asking price and for tenants to be negotiating 5% off the rental values. These are the real market..."
"... even if a large company was to announce it would be creating a presence in the town there is ample stock to soak up this demand and with terraced houses available for as little as £25,000 even a 20% increase in property prices would not make sense in terms of an investment once costs are taken into..."
"... reality buying to let or buying for an investment has always been a tricky business although it is made slightly easier when property prices are continually rising. But if you want to make a purchase that will perform no matter what the market is doing you will need to leave your emotions at the door and make cold, level headed decisions that require a good deal of homework on your part...."
Chapter 9:
Getting on the Property Ladder
"... mortgages are not the evil that they are painted with but the press does like to jump on stories of people who have used them and then run into financial problems. This is simply confusing very useful products with people who cannot manage their finances. Don't let yourself get confused as well. How the press can manipulate stories is covered in more detail in the chapter The Media and Property..."
Chapter 13:
Your Own Homework
"... on the webpage https://howtoreallybuyaproperty.co.uk/property-resources.php What will happen to property prices where you want to buy;
How to check your credit record before the bank does;
How to find out if a property is in a flood zone;
How to check..."
Search Results for 'property prices' in
Property FAQ
Search Results for 'property prices' in
Property Terminology
Warning: Undefined variable $interm in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 259
Warning: Undefined variable $term_result_num in /var/www/vhosts/howtoreallybuyaproperty.co.uk/httpdocs/include-text-search.php on line 247
