Tuesday, Feb 09, 2010
Postcode survey
This is Money: Are house prices rising in your postcode?
"The supposed boom in the property market is not all it seems. Reports may be indicating the prices are rising rapidly but the average is being skewed says property information specialist Hometrack. According to its research, prices are actually only rising in 7% of postcodes and the low volume of transactions is allowing wealthy buyers to distort the market." The article contains a list of every postcode that Hometrack thinks is rising. A little confusingly, there is no indication of what timeframe they're using. Can you find your postcode and if so, what % rise?
Posted by quiet guy @ 08:49 PM (629 views) Add Comment
7 Comments
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1. quiet guy said...
On second thoughts, it might be better just to say if you're in part one or part two of the list - to avoid any possibility of weakening any contributor's anonymity.
I'm in part one.
2. enuii said...
I'm not on the list i.e. one of the 97% of postcodes where house prices have fallen.
Therefore what boom!
3. novice pete said...
I'm in part two.
4. mr g said...
I'm in neither.
Like a lot of surveys, this list is is tosh.
I suggest that most of the post codes listed are relatively upmarket areas whereas in this part of the world, West Yorkshire, houses in upmarket areas seem to be moving slowly and in more mediocre areas they seem to be powering ahead.
I don't wish to sound patronising but my take on this is that people with enough money to buy into upmarket areas are playing a waiting game and keeping out of the market whilst those people with less financial savvy (and probably less money) are piling in and paying stupid prices for properties in mediocre areas.
5. str 2007 said...
I've said recently that things are booming here in South Hampshire, but in the last week or so at least 3 previously sold (last Octoberish) properties are back on in the £450k range.
Now these would have registered (obviously above average) sales for Haliwide back in the Autumn.
Do they get unregistered - I think not.
If they sell again they'll re-register more above average sales.
6. 51ck-6-51x said...
Quiet Guy said, "A little confusingly, there is no indication of what time frame they're using"
- quarterly (top of column in table)
Saying "only 7% of postcodes* show a rise" is a fairly meaningless statistic to be honest.
* actually it's "out codes" (the first part of the postcode)
What is the smallest % of out codes from which one can sum the number of saleable properties to reach 50% of all the UK's saleable properties? It'll probably somewhere around 7% too I would imagine, maybe even less.
7. 51ck-6-51x said...
Oh - my postcode and each of my neighbouring out codes are all on the lists (I live in North London), as is my parent's and my partner's parents (both outside London but in the S.E.)... One of my sister's isn't, but then again she lives in Powys - even so one of her neighbouring out codes has risen 0.2%, so it's probably roughly stagnant around there.
A heat map would be much nicer than the list!