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Good article in this weeks Evesham Journal and Cotswold Journal re falls in Worcestershire and West Midlands house prices.

Spot the vi's contradicting each other : the ea says interest rates are high while Wriggler says they are low lol.gif

House prices take a tumble

Thursday. 28th July 2005

HOUSE prices in Worcestershire fell by more than four times the national average last month, according to a new survey.

The report by independent property research company, Hometrack, revealed that the fall was 0.9 per cent, with the West Midlands area also suffering badly, with prices dropping 0.8 per cent.

But dropping house values is not a local trait, with prices in England as a whole also dropping 0.2 per cent, the same amount as in May. House prices have been falling for over a year now and unfortunately, show little sign of recovery. The average price of houses in England is now £161,300, which is down from a peak of £167,700 in June 2004.

John Wriglesworth, Hometrack's housing economist, said: "The market is showing no signs of recovery, whilst housing transactions have grown slightly, all the other indicators such as prices, time to sell and number of buyers are worsening.

"However, the key factors that determine the health of the market remain positive. We still have high employment, rising household incomes and low interest rates, all that seems to be missing is buyer confidence.

"We expect prices to fall by 5 per cent this year, before levelling off in 2006."

David Hadrill a partner at estate agents Timothy Lea and Griffiths of Merstow Green, Evesham, explained: "There are a lot of differing factors that make up the housing market and they all have to fall into place to make sure the process of buying and selling runs smoothly.

"There is a kind of stand-offish approach to the market at present, with a lot of first time buyers still finding it hard to get onto the ladder. Interest rates are also high at the moment and there is not a lot of new interest coming into the bottom end of the market."

House prices take a tumble

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Good article in this weeks Evesham Journal and Cotswold Journal re falls in Worcestershire and West Midlands house prices.

Spot the vi's contradicting each other : the ea says interest rates are high while Wriggler says they are low lol.gif

House prices take a tumble

Thursday. 28th July 2005

HOUSE prices in Worcestershire fell by more than four times the national average last month, according to a new survey.

The report by independent property research company, Hometrack, revealed that the fall was 0.9 per cent, with the West Midlands area also suffering badly, with prices dropping 0.8 per cent.

But dropping house values is not a local trait, with prices in England as a whole also dropping 0.2 per cent, the same amount as in May. House prices have been falling for over a year now and unfortunately, show little sign of recovery. The average price of houses in England is now £161,300, which is down from a peak of £167,700 in June 2004.

John Wriglesworth, Hometrack's housing economist, said: "The market is showing no signs of recovery, whilst housing transactions have grown slightly, all the other indicators such as prices, time to sell and number of buyers are worsening.

"However, the key factors that determine the health of the market remain positive. We still have high employment, rising household incomes and low interest rates, all that seems to be missing is buyer confidence.

"We expect prices to fall by 5 per cent this year, before levelling off in 2006."

David Hadrill a partner at estate agents Timothy Lea and Griffiths of Merstow Green, Evesham, explained: "There are a lot of differing factors that make up the housing market and they all have to fall into place to make sure the process of buying and selling runs smoothly.

"There is a kind of stand-offish approach to the market at present, with a lot of first time buyers still finding it hard to get onto the ladder. Interest rates are also high at the moment and there is not a lot of new interest coming into the bottom end of the market."

House prices take a tumble

My niece bought a flat in a brand new build in December 2003 in Wolverhamtpon. Usual shoebox/huge service charge rubbish. I drive past the place today and there were 8 for sale signs. And they've been there a long time.

She tried to sell her flat but in 8 months had 1 viewing - now taken off the market.

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  • 341 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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