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Timm

House Prices

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I predict that the LR House Price Index, which reported a YoY of +1.5% last month will be YoY negative on Monday.

Sorry if I'm banging on about house prices.

I realise many people have moved on...

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No need to aplogise . We have not moved anywhere in last 2 months to be honest... Agents claimingcabsolute crap which they reported to. Us .... And teen sales fell throuth .... So we wait and watch ...

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Here's why:

http://www1.landregi...=23&image2.y=13

December 2009 258.8  £161,373January  2010 264.2  £164,746December 2010 262.7  £163,814

So the Jan report (out 28th Feb), has to report a rise of £932, or 0.6% to avoid a negative YoY.

Since these figures relate to completions in Jan 2011 and thus mainly deals struck in Oct - Nov 2010, I would be very surprised by a positive MoM report.

.

Edited by Timm

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Should be an exciting week. Nationwide out Tuesday and maybe even Halifax next week too.

Hope i'm wrong, but i think this week will show the market treading water again.

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Here's why:

http://www1.landregi...=23&image2.y=13

December 2009 258.8  £161,373January  2010 264.2  £164,746December 2010 262.7  £163,814

So the Jan report (out 28th Feb), has to report a rise of £932, or 0.6% to avoid a negative YoY.

Since these figures relate to completions in Jan 2011 and thus mainly deals struck in Oct - Nov 2010, I would be very surprised by a positive MoM report.

.

Let's say the figures relate to the final quarter of 2010 when the Halifax QoQ figures showed a drop of 0.9% and an average price of £162,435. I would expect the LR figures to be similar to this, giving a YoY drop of around 1.4%.

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Still feels like the market is flat to me. Nothing really selling, volumes seem 50% less what they were pre 2007. Properties being taken off the market., but relatively few being marked down. Some indication though of more motivated sellers.

Home is showing a time on the market peak in my area and a few others I typed in. Showing the same in "London" as well. Don't know why, my previous comments on this were ignored by you lot. If anyone has an alternative explanation I'd like to hear it.

Still awaiting a significant event to break the deadlock. IR rises IMO unlikely after revised GDP figures. June for an IR rise at the earliest I think. Maybe job losses in the public sector will be the tipping point, but no indication yet.

Ability to get finance more relevant than interest rates at the moment IMO.

To me feels like one of those windswept western towns with the tumbleweed blowing round. Everywhere locked up and waiting for something to happen ........... but what.

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Still feels like the market is flat to me. Nothing really selling, volumes seem 50% less what they were pre 2007. Properties being taken off the market., but relatively few being marked down. Some indication though of more motivated sellers.

Home is showing a time on the market peak in my area and a few others I typed in. Showing the same in "London" as well. Don't know why, my previous comments on this were ignored by you lot. If anyone has an alternative explanation I'd like to hear it.

Still awaiting a significant event to break the deadlock. IR rises IMO unlikely after revised GDP figures. June for an IR rise at the earliest I think. Maybe job losses in the public sector will be the tipping point, but no indication yet.

Ability to get finance more relevant than interest rates at the moment IMO.

To me feels like one of those windswept western towns with the tumbleweed blowing round. Everywhere locked up and waiting for something to happen ........... but what.

Where are you looking? In London prices are sliding and prices in the capital have supposedly held up much better than many regions. Get yourself Property Bee up and running and I think you'll be pleasantly surprised at the number of reductions you can find.

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Where are you looking? In London prices are sliding and prices in the capital have supposedly held up much better than many regions. Get yourself Property Bee up and running and I think you'll be pleasantly surprised at the number of reductions you can find.

http://www.home.co.uk/guides/house_prices_report.htm?location=london&lastyear=1

Admittedly this is only up to Nov.

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Where are you looking? In London prices are sliding and prices in the capital have supposedly held up much better than many regions. Get yourself Property Bee up and running and I think you'll be pleasantly surprised at the number of reductions you can find.

brighton flat or increasing i am afraid

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Still feels like the market is flat to me.

The trouble is, FTBers are locked out, the only people buying are those already with equity / cash and that's massively skewing the figures. It's just representing a distored market, rather than the true picture of what's going on out there.

Now, if they were to do a report on just FTBers that'd be very interesting.

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Hardly anything completes now. That much is clear. I have maybe 120 properties on my rm save list, so working backward through 6 of my 12 pages I found 2 on the land registry data. Thats 2 out of maybe 30ish removed properties tracked down to a completed sale. It's been like this for what seems like forever so I'm not putting it down to the lag. I'm doing the next 6 pages today but I expect the same story. I did lend the most weight to land reg stats, but now I'm not really sure what they are representing, as they are not representative of the houses that make it on and make it off my list, and as such are about as much use to me as a **** flavoured lollypop.

Edited by hirop

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Where are you looking? In London prices are sliding and prices in the capital have supposedly held up much better than many regions. Get yourself Property Bee up and running and I think you'll be pleasantly surprised at the number of reductions you can find.

Here in London N2 there are simply not enough properties coming to the market and all it takes is one over-priced one to sell and the rest dig in for their absurd asking prices, hence very little movement.

We just made an offer for a 3-bed ABOVE what we made for an identical place during the dip in 2008 - no joy. It's gone for near asking price.

As I keep saying, until the forced sellers return, it'll be a painfully slow grind downwards - in desirable areas at least...

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  • 284 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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