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Loughborough, Leicestershire

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I sold my 2 bed terraced house on Loughborough, Leics, in August 2004 after about 1 month on the market. It was on offer for £110k and sold for £106k. I bought it for £34k in late 1999.

Other houses on the same street and in a parallel street were on offer at between £110 and £125k at around the same time (summer 2004).

Recently, prices have dropped to the £95k mark. In fact, a house just opposite where mine used to be is on offer for £98k, so probably won't go for more than £95k. There have been larger 3 bed houses in that area going for £95k. That’s a drop of between 10 and 20% in a year.....so I'm not so certain that recent data accurately reflects how much prices are dropping.

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Know what you mean, we sold my grandfathers 4 bed house after he passed away in a nearby village at a 15% discount to the original valuations.

Took a while to get the interest as well.

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Some data on all the LE11 properties, evaluated by means of the prices listed on http://www.houseprices.co.uk/

The attached graph shows a few interesting things:

1) Fall in transactions, probably starting last summer, no real recovery since. Running average of transactions is almost 50% down from its peak and seems to fall further!!!

2) Prices haven't fallen strongly yet, but the running average crossed the average price line in November 2004, and has almost consistently stayed above since. This could indicate a trend reversal. Perhaps not a real fall in prices yet, but possibly heading that way.

Compared to MEtallic's research data on Crookes, Loughborough seems to be further ahead in the process. Explanation: further down South!

:) Plastic Elasticle11.doc


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  • 301 Brexit, House prices and Summer 2020

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