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Jack2

Land Registry

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Land registry figures for Norfolk in March April, and now May make interesting reading, cos they are facts and not opinions. May was down 0.7% and the last three months this year compared to same period last year are -4% in 2009 , and -1.3% in 2008. Its falling faster here folks!

Sales volume is up, but price pressure is more strongly down. These figures are, of course, presented on completion of deals, so the next three months are going to be very interesting, will they reflect current negotiations with reduced or increased prices? My money is on downward trend continuing for the next year, with a slight bounce in June to August figures.

What do you think?

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Well, I'm not even looking this year now so that gives my prediction. There is little stock on the market I want and that which is left is at historical values, there are some truly astonishing asking prices so I won't even bother being cheeky. Just seen one house back on the market after having been 'sold' over Christmas at more than it was originally. Given that this is the worst financial crisis since the 30s and fully remembering the 80s, we ain't seen nothing yet. Just wait till those cuts start taking effect. This will take years to settle off and sort out. House prices don't have to crash but they will find their level at capital sum plus lent sum which means a flat flat market.

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Well, I'm not even looking this year now so that gives my prediction. There is little stock on the market I want and that which is left is at historical values, there are some truly astonishing asking prices so I won't even bother being cheeky. Just seen one house back on the market after having been 'sold' over Christmas at more than it was originally. Given that this is the worst financial crisis since the 30s and fully remembering the 80s, we ain't seen nothing yet. Just wait till those cuts start taking effect. This will take years to settle off and sort out. House prices don't have to crash but they will find their level at capital sum plus lent sum which means a flat flat market.

Well summed up. I really do wonder though if , for a first time buyer, you can add in a huge and sudden drop over Winter of 2009 to reflect local conditions, ie unemployment. Its hard to think like I did when I was a first time buyer, but if memory serves, it would be something along the lines of "buy now " from mates who have recently bought, (because they want confirmation they have done the right thing) against the evidence of my own eyes, and the Land Registry.

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