Saturday, Jul 21, 2007
House prices fall in Pendle
Pendletoday: House prices fall by 10%
House buyers in Pendle could snap up a bargain after it was revealed property prices fell by almost 10% in the first quarter of the year.
Prices rose by 13.3% last year but the fall between January and March - the largest in Lancashire - left an average house price of 103,138 according to figures from the Land Registry.
Posted by eyeore @ 06:12 PM (185 views) Add Comment
9 Comments
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1. sovietuk said...
Houseprices falling in a region of the UK (albeit just one) by 10% is excellent. With interest rates moving up all the time (another increase soon expected) it looks like recent highly leveraged purchasers in areas such as this will be pushed firmly into negative equity making it a bad investment. A bad time to buy a house in Lancashire. :-) :-)
2. David20040_0 said...
Oh wow, house prices drop by 10% in one particular area and you guys treat it as the second coming.
House prices in London just went above 300K for an average house.
THAT IS THE REAL STORY!
3. confused76 said...
WOW!
I can t wait to read that about property in London... may take a while but I am not in a hurry
4. Scott said...
My advise to you confused76 is not to wait for a London crash. Even if London's cheapest house prices dropped from 313K to 250K, I somehow get the feeling that you would not benefit from this.
If you are in London, or some over-snobbed over-valued area in the south, then leave.
5. Davros said...
That's stagnation at it's finest.
6. paul said...
Kirsty Allslopp will have to uncheck that one for her next series.
7. sirgoogle said...
"But Graham Ireland, of Haworth and Nuttall Solicitors, Blackburn, believes the drop in prices could simply be a temporary blip brought on by other factors such as the controversial Home Information Packs"
The VIs are pushing that any drops in 2007 are due to HIPs.
8. planning4acrash said...
Prices were already falling in parts of London in the first quarter of 2007. I look forward to quarter 2's stats from land registry, anybody know when they are out? See link below, this BBC website is now linked to the home page: http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/counties/html/county37.stm
Harrow -2.8%
Redbridge -0.7%
Sutton -0.6
Bexley -0.4
9. Scott said...
I am currently living in Harrow temporarily. A price decrease could be due to the fact that they are putting Turks into south harrow among the cypriot community without any barbed wire between them. I would like to know who's bloody good idea that was.