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£2Tr Wiped Of The Prices Of Uk Houses Since The Peak 3 Years Ago

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Can't link to it thanks to the paywall but in todays paper there's an article on P19 highlighting that house prices have fallen by £2tr since the peak 3 years ago.

Avg home losing £100 a day in value.

Residential properties across the country are worth 14.4% less.

7/10 with the highest growth in the south

8/10 with the largest declines in the north

Jarrow has a fall of 31.4%

Washington North a fall of 30.8%

In money terms the biggest loser is Maidenhead, Berks which have fallen from £389,998 to £284,365 a fall of £105,633.

Best performing area is Westbury, Wilts with a 9% increase.

Then Shetland which has had a 5% increase.

Halifax head of housing economics Martin Ellis states that he expects limited movement in prices and it will probably move downwards.... and comes out with as long as you keep paying your mortgage the fall is not realised.... I wonder if he means the banks losses aren't realised?

Plus for those who have bought in the last couple of years it's not all bad news as you've got lower mortgage costs... :rolleyes:

Viva recovery.

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hate to say this but where I'm looking (south London) they've hardly fallen at all.

Don't pay attention to asking prices.

‘Reality gap’ in property prices drives buyers from the market

In 2003 the gap between average asking prices in London and average sale prices stood at £6,574, or about three per cent. But by this year it had exploded to more than £79,000 or 24 per cent.

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Easy come, easy go... Sadly the drop so far is only a small fraction of what is required to rebalance prices to wages properly.

True, but give it time. Salary cuts and pay freezes are causing a dribble of 'motivated vendor' sales to become an eventual deluge.

Edited by Cicero

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Best performing area is Westbury, Wilts with a 9% increase.

Westbury is a dump (for those that are not already aware)

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Westbury is a dump (for those that are not already aware)

I dont like Westbury either but Trowbridge and Warminster are no better.

My first impression would be that the new builds now dominate and so have changed the market.

Home.co.uk . seems to suggest it is the flats which have shifted up in price.

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  • 285 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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