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Rapid Descent

The Times Bricks & Mortar: 19.08.05

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The weekly property bit of The Times is out today, and includes a couple of interesting bits and pieces:

Their price focus is on the South West, recording falls of 4% on the year and 11% falls in Barnstaple, with continued weak demand but strong supply.

Monthly falls in the South West were "dramatically" 0.4% - if they think that is dramatic, they ain't seen nothing yet ;)

They also have a report on ITV makeover show The Block, which was a sort of Big Brother version of Changing Rooms - four couples bought a house each in Brighton, did a makeover (12 weeks under the spotlight) and put it up for sale, with the highest sale achieved winning.

The show flopped, with audiences well down on expected, and was moved out of prime time. The article then goes on to say, "To make matters worse, the property market in Brighton took a sharp downturn". There! Telling the truth wasn't hard after all, was it? Surprising how honest a journalist can be when it actually adds to the story they are telling.

The bottom line is, the houses were supposed to sell at above £300k, and though they were valued above this level, they didn't sell. In the end the people who came last in the programme actually bought the house they had worked on - for £250k! Slightly less than the valuation then...

Finally, an article on renting - "Our Tenants Want Extra", explaining how these days the tenants have the upper hand, often demanding makeovers and redecoration if the landlord wants to secure top rental income.

All in all, no real bullish articles and plenty for us bears to enjoy. More grist for the mill!

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  • 302 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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