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Caveat Mortgagor

West Midlands Bear Food

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http://www.negotiator-magazine.co.uk/article/west-midlands-tops-price-slump-1406

West Midlands tops price slump

More surveyors in the West Midlands than anywhere else in the country have revealed the greatest price falls for July, according to the latest housing market survey from the Royal Institution of Chartered Surveyors.

The proportion of surveyors in the county to have reported a price fall of up to 2% was 25, with 19 having seen prices fall by as much as 5%.

This has resulted in a balance – the percentage of surveyors reporting a rise minus those having seen a fall – of -41, according to the survey out today.

This compares to surveyors in London where 24 revealed a price rise of up to 2%.

Overall, the price balance slipped from +8 to -8 during July, marking the first negative reading since July 2009, which RICS attributes to increasing new vendor instructions and falling new buyer enquiries.

Surveyors’ new instructions balance increased from +28 to +33, which is the highest reading since May 2007 while the new buyer enquiries balance fell for the second consecutive month from -6 to –10.

Transaction levels remained relatively stable, with the agreed sales balance edging down from +3 to +1.

Meanwhile, the average number of properties on surveyor’s books rose by 4.1% on the month to 69.1, with the average number of sales per surveyor flat at 16.6, which is a 0.1% decline on the month.

This has resulted in the sales to stock ratio – falling to 24% - the lowest level since June 2009.

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And primary industries like Rover and LDV long gone - and their supply chains.

From over investment to under-investment. No way to treat your second city.

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One of the big emigration areas, recent aritcle about Australia and Brummies in particular moving there. Probably the only area in the country that you could successfully run manfacturing on a large scale - space, resources, skills, infracstructure, costs.

Not for long if it withers away though.

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http://www.negotiator-magazine.co.uk/article/west-midlands-tops-price-slump-1406

West Midlands tops price slump

More surveyors in the West Midlands than anywhere else in the country have revealed the greatest price falls for July, according to the latest housing market survey from the Royal Institution of Chartered Surveyors.

The proportion of surveyors in the county to have reported a price fall of up to 2% was 25, with 19 having seen prices fall by as much as 5%.

This has resulted in a balance – the percentage of surveyors reporting a rise minus those having seen a fall – of -41, according to the survey out today.

This compares to surveyors in London where 24 revealed a price rise of up to 2%.

Overall, the price balance slipped from +8 to -8 during July, marking the first negative reading since July 2009, which RICS attributes to increasing new vendor instructions and falling new buyer enquiries.

Surveyors’ new instructions balance increased from +28 to +33, which is the highest reading since May 2007 while the new buyer enquiries balance fell for the second consecutive month from -6 to –10.

Transaction levels remained relatively stable, with the agreed sales balance edging down from +3 to +1.

Meanwhile, the average number of properties on surveyor’s books rose by 4.1% on the month to 69.1, with the average number of sales per surveyor flat at 16.6, which is a 0.1% decline on the month.

This has resulted in the sales to stock ratio – falling to 24% - the lowest level since June 2009.

What does surveyors "seeing a rise" mean? A general feeling in their water? As surveyors = EAs and valuers surely they set the prices (too high as EAs too low as valuers) isn't the whole exercise circular?

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One of the big emigration areas, recent aritcle about Australia and Brummies in particular moving there. Probably the only area in the country that you could successfully run manfacturing on a large scale - space, resources, skills, infracstructure, costs.

Not for long if it withers away though.

Unfortunately, China does it better:

http://www.chinacartimes.com/2010/08/10/ldv-back-from-the-dead-in-china/

http://www.cardealermagazine.co.uk/publish/mg-car-dealers-find-facts-in-china/40494

That's what 100 years of entitlement does for you in the West Midlands. If they'd just pulled their fingers out.

Don't get me wrong - I'm really sad to see all this happen as I'm from the region and my older rels worked for the car industry in one form or another.

Never mind. In our super-bland virtual economy that'll be along and in full force by 2020, I'm sure Birmingham will thrive again. Meanwhile, peak oil will show China why it was a really, really bad idea to start making cars.

Edited by AvidFan

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Added: Have a look at Birmingham city centre property on RM. 1 bedders for 70-80K and less than a mile from any of the three train stations. But I suppose 70-80K is pretty much standard for a 1 bed luxury, lifestyle waterside apartment these days.

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Unfortunately, China does it better:

http://www.chinacartimes.com/2010/08/10/ldv-back-from-the-dead-in-china/

http://www.cardealermagazine.co.uk/publish/mg-car-dealers-find-facts-in-china/40494

That's what 100 years of entitlement does for you in the West Midlands. If they'd just pulled their fingers out.

Don't get me wrong - I'm really sad to see all this happen as I'm from the region and my older rels worked for the car industry in one form or another.

Never mind. In our super-bland virtual economy that'll be along and in full force by 2020, I'm sure Birmingham will thrive again. Meanwhile, peak oil will show China why it was a really, really bad idea to start making cars.

Factories pulled down and used as brownfield sites. Chance of finding large site suitable for world export markets in heavier industries - zero with current policies.

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  • 145 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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