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Are Property Prices Rising In Your Postcode? Check Here.


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[with thanks to HPC Quiet Guy]

http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=499311&in_page_id=57

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.

Hometrack says: 'The average price of property in rising markets is 35% higher than that of the national average (£212,000 compared to £157,000).

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Excellent find.

Some of the areas I am looking at record an increase of 0.2 and 0.5%, my own area where detached houses are snapped up like they're built of gold bullion shows no increase at all, so I am now lost to understand the situation except to guess that if the prices I see now are not rises then the prices here were even more ludicrous in 2007 than I realised! I only moved here a year ago, but my hunch is London exodus money is fuelling silly, silly valuations.

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Nice find.

EAs are going to town around me (Surrey/London borders) and putting asking prices @ peak +10%.

Was looking at 1 that was advertised at £395k. Peak price for the street was £308. Dropped to OIEO £335 and been sitting for 4 months months now.

******ing idiots.

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wish they would list the post codes where property prices are falling and by how much to balance the findings. FWIW my postcode and any in the more desirable parts of Shropshire do not appear to be rising which tallies with the view from the ground - current asking prices though they are still vaguely insane. :o

Edited by olliegog
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wish they would list the post codes where property prices are falling and by how much to balance the findings. FWIW my postcode and any in the more desirable parts of Shropshire do not appear to be rising which tallies with the view from the ground - current asking prices though they are still vaguely insane. :o

I watch Shrops and Hereford closely and those market areas are dodo dead. No increases for sure and the odd miserly, begrudging, nondescript drop . Bill Jackson (Hereford) must have had the same properties listed , for the same prices for the last 3 years!

But what do people do to earn a crust in Shrops and where do they have to commute to do it?

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Heh. PL19 +2.0%. Lots of other rural PL postcodes on the rise too :o

We have an interesting rural-vs-urban disconnect here in the southwest. In urban parts (mainly Plymouth and suburbs), prices to buy are low, and rentals high: e.g. £600/month for a £100k place at the low end. Out in the sticks, the reverse is the case, and £600/month would be more in line with a £200k price to buy.

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Spot on to point out that there are important differences within the "postcodes" listed in this article.

To be pedantic, Hometrack are not talking about postcodes. A postcode covers on average 15 houses and is the full thing down to the last two letters. The article is about postcode districts, which are muckle huge areas covering anything from a large swathe of a major city to a couple of small towns.

Within such large areas there is every reason to expect local movements in all directions. They have a wide mix of housing types, family types, socio-demographic types...however you like to describe the variations that exist in this country. Using PL19 as an example

It is (roughly) 45% detached housing, 25% semis, 20% terraced with the rest a mix of purpose built and converted flats. Which of these are producing the rise?

It is (roughly) 40% owned, 40% mortgaged, 10% social rented and 10% private renred. Which of these are producing the rise?

There is a mix of (putting it very crudely) 45% affluent home owners, 30% comfortable and the rest poor. Which of these are producing the rise?

Its an interesting table highlighting things are not the same everywhere in the country. From the viewpoint of serious analysis it is rather superficial. A bit a of fluff designed to get Hometrack's name in the papers.

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  • 433 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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