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I assumed it would bounce this month after last months tasty fall.

I can take comfort in the fact that Essex was down. Albeit by a measly 0.1%. Southend on sea though down 1.4% very nice.

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Look at the number of transactions...

In the months November

2010 to February 2011,

transaction volumes

averaged 46,818 transactions

per month. This is a decrease

from the same period last

year, when sales volumes

averaged 54,479.

The market is stagnating but prices in London are SOARING

I can confirm prices in London are soaring as the countess exchanged last week. Someone's paid a fortune for a small 2 bed flat.

I can also confirm prices will collapse very soon :lol::lol::lol::lol:

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Sizeable MoM falls in Coventry in this report :):) (Yes MoM - this is not a typo)

Mar to April

Detached

255,018 - 248,934 (down 2.3%)

Semi

138,262 - 134,963 (down 2.3%)

Terraced

97,087 - 94,771 (down 2.4%)

Flats

86,441 - 84,378 (down 2.4%)

Overall average price

110,444 - 107,809 (down 2.4%)

Repeat:-This is not a typo. MoM falls!

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Overall transactions down -14% from this time last year.

Yep. And supply going up in most of the country.

We can check supply per postcode here:

http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalAvailableListingsAndNew.html?searchLocation=co1

(Thanks to exiges for the chart below.)

With supply going up, and transactions low and going even lower, prices will have to fall. I think this is very clear now.

15hkjyb.jpg

Edited by Tired of Waiting

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Cardiff is going down -4.0 monthly, -5.8 YOY.

Swansea is up this month by a HUGE, LMAO, 0.3 but YOY -5.0 so Swansea is going down also.

It only takes one numpty buyer or one of the beach houses to be sold to totally raise the figures.

The big thing in this report is the -14% transactions YOY which is huge.

Things are looking good. Explains why the Express had to ramp their headline this morning I guess.

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A little depressing for the overall picture, but at least it's down where I am. Now just to sit back and wait for the first person to make me want to punch them by saying that up is good.

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I was expecting the London figure to be up, but not by 3.0%.

As I understand it, the transactions completed in March would have been registered with the LR in April. March was the last month before the stamp duty on £1million+ houses was increased, so (apparently) people were rushing to get their 'prime' purchases through in March.

I am not overly familiar with the way that the LR calculates its figures (i.e. I know that they supposedly only look at houses which have sold at least once previously), but I would expect this to have a large effect on prices, and I also expect that we will see a fall of around 2% next month.

In summary, I am not overly concerned with these LR figures. Strip out London and they look OK. I live in London, but London prices were artificially boosted by a one-off tax change, so I am happy to keep on waiting.

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Notice anything about these figures...look at page 13 ( lucky for some ):

Would anyone like to Hazzard a guess as to why the average price is up this month :lol::lol::lol::lol::lol:

Yes I noticed that and thought about posting it, but it's only the details up to Feb. We've two more months of the new stamp duty level to filter through this part of the report.

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Look at the number of transactions...

In the months November

2010 to February 2011,

transaction volumes

averaged 46,818 transactions

per month. This is a decrease

from the same period last

year, when sales volumes

averaged 54,479.

The market is stagnating but prices in London are SOARING

Question: are these figures mix-adjusted? In other words would you see a rise in the average if expensive houses made up a larger proportion of all sales vs. the previous month? Or is it that the average property in London, for a given area and property type, has gone up by 5%? If that's true it's pretty depressing.

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Cardiff is going down -4.0 monthly, -5.8 YOY.

Swansea is up this month by a HUGE, LMAO, 0.3 but YOY -5.0 so Swansea is going down also.

It only takes one numpty buyer or one of the beach houses to be sold to totally raise the figures.

The big thing in this report is the -14% transactions YOY which is huge.

Things are looking good. Explains why the Express had to ramp their headline this morning I guess.

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Cardiff is going down -4.0 monthly, -5.8 YOY.

Swansea is up this month by a HUGE, LMAO, 0.3 but YOY -5.0 so Swansea is going down also.

It only takes one numpty buyer or one of the beach houses to be sold to totally raise the figures.

The big thing in this report is the -14% transactions YOY which is huge.

Things are looking good. Explains why the Express had to ramp their headline this morning I guess.

Agreed. The details of this report are a bear fest (outside the SE), but you have to get beyond the headline figures to see it. How many of the sheeple will though?

Who is it that does an update of the couloured map of prices falls across the country?

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Last month for Essex revised down to -0.4% from -0.3% and it's finally gone negative YOY this month by -0.2%. It's a start.

The overall picture could be stamp duty skewed though. Figures for April would have had many March and Febuary sales.

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  • 312 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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