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The North Hits The Brakes

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http://business.timesonline.co.uk/article/...1869214,00.html

The north hits the brakes

Estate agents think London property is due a recovery, but prices elsewhere may be about to fall. By Clare Francis

THE property market is on the turn, according to leading estate agents. Savills said last week that we are at the beginning of a new cycle, Knight Frank expects the recent pick-up in activity to continue next year and Propertyfinder, a website, predicts a stronger housing market next year.

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Wishful thinking again, Boom n Bust ??!!

As Libitina says, it ain't happening.

Why oh why can't people on here just be honest about this whole thing, rather than clutching straws for every piece of bad news. Prices might drop, but its a long time off yet and by the time we get to the 'drop' its going to be so insignificant you might just miss it !

There's so much public money pouring into the North and filtering into the local economy, it'll keep prices high for a while yet. I could count on a single hand the number of price reductions I've seen in the last 2 months.

Seems to me the speculation about the housing market can be put on ice until Feb when the 'spring bounce' merry-go-round starts again. The market will be dead from now until Xmas and then into January - just as it always is.

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Wishful thinking again, Boom n Bust ??!!

As Libitina says, it ain't happening.

Why oh why can't people on here just be honest about this whole thing, rather than clutching straws for every piece of bad news. Prices might drop, but its a long time off yet and by the time we get to the 'drop' its going to be so insignificant you might just miss it !

There's so much public money pouring into the North and filtering into the local economy, it'll keep prices high for a while yet. I could count on a single hand the number of price reductions I've seen in the last 2 months.

Seems to me the speculation about the housing market can be put on ice until Feb when the 'spring bounce' merry-go-round starts again. The market will be dead from now until Xmas and then into January - just as it always is.

Absolute cack. I persuaded my sister in September to hold off buying in south Manchester (pace apollo1996!) - which was "North" last time I looked - and wait until new year at least. She has since seen two of the four houses she viewed drop by £20k and £16k respectively (about 12% and 10%!). Yes the prices are still high and will register as continued price increases in the North West compared to previous figures but even she (a typical VI fodder "property always goes up" type) has noticed a change in a short timescale. She will still buy I think but I have saved her a fortune.

The one thing you do have right is that this will not happen across the board quickly - noone has said it will. But trends are turning. Even up North. There are micro economies and other effects which distort the data until a general trend materialises. If you look at some of the more historicalyl affluent areas up North you will see that prices have been moderating for a while, anecdotally and in some of the published data. They have hit the liquidity buffer first.

Edited by Tempest

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Prices in the area of Lancs that I watch have doubled for a typical '2 up, 2 down' terraced house and risen by approx a third for other houses. Since January this year. I think it must be one of the very last area's in the UK to boom (why, oh why, did we not buy there 2 years ago?! :rolleyes: )

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Where does the north actually begin, does the font size grow ever larger the closer you are to the epicenter of thenorth, wherever that may be.

The north begins at Watford gap doesn't it? ;)

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LONDON estate agents think LONDON prices will go up.

Funny that

North east median wages are only 10% less than average, yet average prices are about a third of london prices.

I cant believe the times published such unsubstantiated utter rubbish with no fundamentals to back it up.

Was it the north pole they were taking about?

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  • 302 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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