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BandWagon

London Prices Falling 19% Pa

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Today's London Metro, page 41

According to Chloe Scott, house prices have been falling for 14 months in a row, Hometrack announced 0.1% down, Nationwide 0.2% down.

Quote from Ed Stansfield saying we have little to worry about.

Apparently a repeat of the 1990's crash is unlikely.

(personally I think he's one of the people who made the mistake of calling the crash too early).

Apparently BTL investor's are getting back into the market.

However they did carry annual changes. In London, prices up 0.7%, in the South-East 0.9%, Wales up 8.1%.

It all looks rosy.

Until you start to look at the monthly figures. London down 1.9%, that's a 19% annualised fall.

And SE prices down 2.2%, that's 26% down annualised.

Bear in mind these are the figures that point to what is happening now, while the annual figures just show what has already been.

19% going down in London. 26% in the South-East. That's frightening.

Anyone doubt it's happening?

Welcome to House Price Crash 2005/2006.

Edited by BandWagon

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In her Sunday Times article Merryn Somerset-Webb said that prices in her block in Paddington had fallen 20% in the last year.

http://property.timesonline.co.uk/article/...1763282,00.html

How much longer before these falls get reported in the media?

Why the tremendous lag?

The amateur BTL brigade are about now waking up to the reality that something is very very wrong.

When they decide to sell in 6 months time it will be 18 months too late...

Edited by BandWagon

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Don't you think you are making a meal out of a few scraps here Bandwagon?

What are you going to say if the monthly fall rate falters?

That the crash is over?

Manipulating data in this manner does your credibility no good IMO.

As for the 20% falls in Paddington. Well, all I can say is I can remember some properties that couldn't sell during the BOOM. Some got discounted over 10% before they sold many months later.

Maybe the initial asking price was too high? This can happen in a boom or a bust.

(BTW Don't get me wrong, I would like to see prices fall)

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Guest Bart of Darkness
Quote from Ed Stansfield saying we have little to worry about.

I'm not worried! :D

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I'm not worried!  :D

Vastly overpriced areas get hit largest..

Devon always leaps ahead..

Cornwall, its average salary is below the minimum wage.. so much of its work is seasonal..

yet central london prices..

you should see some of the multiples the lie to buy morons have borrowed here..

already seeing drops..

and I was just offered a fixed rate mortgage at 5.9 %..

Quality..

Thats going to hurt someone with £180,000 and a two bed armpit of a flat..

£885 a month interest only for a starter home anyone...??????

anyone want to buy this..?????

why won't anyone buy my home (sob sob sob)?

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  • 301 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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