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nicko75

Confused...

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I am generally of the belief that prices are going south and heading further that way - based on general common sense, a reasonable grip on economics and the political outlook plus the indicators that have been coming out in recent months (Halifax, RICS etc)....

I was just looking on the BBC website to corroborate my own viewpoint and am shocked to see that apparently house prices in my area (Kingston on Thames) have gone up nearly 20% in the last 12 months and 5% in the last quarter???...... Richmond on Thames, next door, up over 20% and double digit rises almost accross the board...

Where do these numbers come from?? They dont "feel" right?...... and if they are, they are quite depressing....!

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/ax.stm#table

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States that the source is LR figures. Interestingly they show that semis in Coventry have increased by 8.1% over the last 12 months despite a 9.4% drop in the last quarter!!!

Sounds like a classic bull trap unwinding if true....

Also shows all properties as up 4.2% annually despite a 6.2% drop in the last quarter!!!

Edit: however the figures on LR website are a million miles away from these figures

Edited by Caveat Mortgagor

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I am generally of the belief that prices are going south and heading further that way - based on general common sense, a reasonable grip on economics and the political outlook plus the indicators that have been coming out in recent months (Halifax, RICS etc)....

I was just looking on the BBC website to corroborate my own viewpoint and am shocked to see that apparently house prices in my area (Kingston on Thames) have gone up nearly 20% in the last 12 months and 5% in the last quarter???...... Richmond on Thames, next door, up over 20% and double digit rises almost accross the board...

Where do these numbers come from?? They dont "feel" right?...... and if they are, they are quite depressing....!

http://news.bbc.co.u...ml/ax.stm#table

Have a look at the figures in the tables attached. These are 2005 Vs 2010 (peak to date) figures for my post code.

post-12574-012454200 1286898436_thumb.jpg

I think they highlight a two trends that has been see across the country.

The market is dead and the bottom end of the market has fallen both in market share and price where the top end has risen in market share, but price? That is more difficult to determine.

Unfortunately the Land Registry only breaks the market down into Flats, Terraces, Semis and Detached. Now the price difference can be between: -

Flats This and This only £78,500

Terraces This and This only £98,000 (I would have included This but they're clearly on drugs)

Semis This and This around £200,000

whereas...

Detached This and This around £3,000,000. In all honesty it's very rare to see anything over £1million on the LR for my post code.

So with the big swing to purchasing quality, and maybe further up the quality end of quality, the indices have been right royally rogered and are not work the paper they are printed on.

Whether that be 20% up or 3.6% down

Edit to highlight links as they've still not been sorted :angry:

post-12574-012454200 1286898436_thumb.jpg

Edited by GBdamo

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I am generally of the belief that prices are going south and heading further that way - based on general common sense, a reasonable grip on economics and the political outlook plus the indicators that have been coming out in recent months (Halifax, RICS etc)....

I was just looking on the BBC website to corroborate my own viewpoint and am shocked to see that apparently house prices in my area (Kingston on Thames) have gone up nearly 20% in the last 12 months and 5% in the last quarter???...... Richmond on Thames, next door, up over 20% and double digit rises almost accross the board...

Where do these numbers come from?? They dont "feel" right?...... and if they are, they are quite depressing....!

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/ax.stm#table

The trouble with Kingston (in particular) is that it's probably always going to command something of a premium because of very good schools, inc. two grammars that regularly come very high in the league tables.

But if prices are coming down generally, they'll eventually come down in Kingston, too.

Hang in there!

One Kingston factor that doesn't seem to put people off half as much as it should is the sky-high council tax.

We live in Kingston and ours is about double what we'd pay in next-door Wandsworth for the same band. :(

And they still can't keep the streets clean.

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  • 261 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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