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The Masked Tulip

House Prices Falling Outside London, Says Dclg

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http://www.bbc.co.uk/news/business-15735837

Average UK house prices fell by 0.7% in September, according to figures from the Department for Communities and Local Government (DCLG).

The fall took the average UK house price to £207,326. Prices were 1.4% lower from a year ago.

London was the only region where house prices had risen, with prices up by 2.8% in the year to September.

By contrast, the largest price falls were in Northern Ireland, where prices were down by 12%.

The DCLG figures chime with the results of other monthly house price surveys from organisations such as the Halifax and the Nationwide.

These have also shown that prices have changed little in the past year, in a market subdued by the continued rationing of mortgage funds by lenders.

Experts have explained that the resilience of house prices in the capital has been due to a combination of factors, including the relatively buoyant level of employment and the continued influence of rich foreigners who continue to view houses in London as a good investment.

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Prices up 2.8% in London?

I wonder if this masks a fall in outlying areas (and some inner city ones), and a sharper rise in Foreign Investment Zones eg Notting Hill, Kensington and the like?

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Prices up 2.8% in London?

I wonder if this masks a fall in outlying areas (and some inner city ones), and a sharper rise in Foreign Investment Zones eg Notting Hill, Kensington and the like?

GrEEKs.

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GrEEKs.

No, F&**kwits.....trying to save their money but buying something for twice what it's worth....just plain stupid. They'd be be better buying some flats in newcastle at auction.

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Sure I read recently that prices had 'rocketed' by 10-20% in superprime areas due to foreign investors. If thats the case, other areas of London can't be doing too well if the average is only 2.8%.

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Westminster up 10% in the last quarter would help... Chelsea up alot too...

A fair number buroughs falling in poorer areas though in the last quarter. Check the BBC house prices page.

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Prices up 2.8% in London?

I wonder if this masks a fall in outlying areas (and some inner city ones), and a sharper rise in Foreign Investment Zones eg Notting Hill, Kensington and the like?

Well it sure does hide the falls in the rest of the UK. Areas with 10% drop etc.

Back to 2005 prices and falling according to this analysis.

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Well it sure does hide the falls in the rest of the UK.

Yes indeed, all very convenient when those monthly house price statistics are released, to try and keep the positive sentiment going within the housing market. :rolleyes:

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No, F&**kwits.....trying to save their money but buying something for twice what it's worth....just plain stupid. They'd be be better buying some flats in newcastle at auction.

If they have that much cash to park, they'd be better off buying Gold bullion and storing it in Switzerland.

Sure, it might drop in price but I'd say the potential downside on London properties is even bigger IMO.

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Westminster up 10% in the last quarter would help... Chelsea up alot too...

A fair number buroughs falling in poorer areas though in the last quarter. Check the BBC house prices page.

That's what I'm seeing. Drops of between 10 and 30 grands on 3/4 beds in tooting and nearby - admittedly still pricey at around 290 grand...

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If they have that much cash to park, they'd be better off buying Gold bullion and storing it in Switzerland.

Sure, it might drop in price but I'd say the potential downside on London properties is even bigger IMO.

I worry for Londoners. They are buying up property as if its a one way bet. Come the collapse of the Euro and subsequent tsunami for the financial services companies in London, this will end up very messy. So far unemployment in the capital has remained low relative to the rest of the UK. Euro collapse could cause sudden and significant cost cutting (layoffs).

Not good. Not good at all.

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If they have that much cash to park, they'd be better off buying Gold bullion and storing it in Switzerland.

Sure, it might drop in price but I'd say the potential downside on London properties is even bigger IMO.

I bet they are doing that too, don't keep all your eggs in one basket and all that.

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I worry for Londoners. They are buying up property as if its a one way bet. Come the collapse of the Euro and subsequent tsunami for the financial services companies in London, this will end up very messy. So far unemployment in the capital has remained low relative to the rest of the UK. Euro collapse could cause sudden and significant cost cutting (layoffs).

Not good. Not good at all.

I think the inevitable Euro collapse will be pretty bad for us all. Knowing our luck on HPC, the City will somehow benefit with City firms earnin vast sums to sort the mess out.

Who knows I suppose.

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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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