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R K

Manchester Leads The Uk House Price Charge

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http://www.theguardi...ices-nationwide

Manchester has beaten London to be named the UK city with the strongest house price growth in 2013, with property values up 21% over the year, according to Nationwide building society.

While much of the coverage of the housing market in 2013 focused on London's turbo-charged housing market, Nationwide says Manchester – and, specifically, the area covered by the city council – as the star performer last year, with London in second place and Brighton in third. According to the society, prices in the capital ended the year up by either 14.9% or 13%, depending on which measure is used, while Brighton saw growth of 12%.

The price of an average UK home increased by 7.1% in 2013 and ended the year at £174,444, though there were wide variations by region, with the north of England and Scotland only managing a 1.9% and 3.7% annual increase respectively, Nationwide said. Edinburgh and Glasgow were named two of the "worst-performing" cities in 2013, with annual increases of just 1% and 2% respectively.

So that's what Cameron means by the glow ball race. Always wondered...........

'Star performer' What more could the hard working people of Mamucium want eh?

Edited by R K

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Looks odd. The YOY rise last qtr was 10%.

You'd probably want to double check the data down to indiv. transactions before having confidence in that.

mauxdh.jpg

Agreed.

It doesn't 'feel' right at all.

Actual % aside though the language from the Nationwide is quite appalling.

On 2nd reading it might be the (Manchester) Guardian's language. In which case shame on them.

Edited by R K

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Manchester is not a bad option for people priced out or bailing out of London. In many ways it's England's second city.

There's a lot to do there. You can get a lot more house for your money, there are some decent jobs there, and south Manchester has some posh bits with good schools.

I look at it from time to time and I know a few other young families in London who have the move on their radar.

I think this would support prices up there to a degree.

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November Land Reg has Manchester district as YOY of 4.8% and an average price of £95k. Volume of around 400 a month.

Nationwide's data is probably based on a few dozen detached sales. Worthless.

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bankers rejoice...pay nothing to savers and are selling more mortgages than the last five years, at higher rates....rejoice the bankers recovereh

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November Land Reg has Manchester district as YOY of 4.8% and an average price of £95k. Volume of around 400 a month.

Nationwide's data is probably based on a few dozen detached sales. Worthless.

Sounds like a plausible explanation. There's certainly something very iffy about the headline number.

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Manchester is not a bad option for people priced out or bailing out of London. In many ways it's England's second city.

There's a lot to do there. You can get a lot more house for your money, there are some decent jobs there, and south Manchester has some posh bits with good schools.

I look at it from time to time and I know a few other young families in London who have the move on their radar.

I think this would support prices up there to a degree.

Yet it doesn't ever get named on BBC national TV news map when they come to do the weather report. Been that way for years.

Apologies.. only BBC screengrab I could find, from a guy who doesn't like BBC weather reports. And I notice one of his complaints is Leeds doesn't get named either.

Picture200441.jpg

South Manchester might look less expensive if you were coming up from SE or London. You'd have to bring equity with you, or be able to land a job paying high wages, as prices in South Manchester are painfully expensive, in my opinion. The £95K houses probably are not that appealing at all, in reality.

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I suspect that 20% figure wouldn't stand up to much scrutiny, but its good link bait. The 5% rise for Greater Manchester I can believe though.

There are only a couple of pockets that could have an average value of £200K. Most of it would be significantly lower.

Some ideas of what could be pushing prices up:

  • New Metrolink lines
  • BBC
  • People relocating with their London equity gains
  • New Islington development

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id guess, tv license fee backed house movers from London bagging a bargain outside London, all helped with generous relocation packages.

the bbc staff are probably believing their own propaganda.

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Some ideas of what could be pushing prices up:
  • New Metrolink lines
  • BBC
  • People relocating with their London equity gains
  • New Islington development

House prices pushed up by crazy buyers during bubble 1.0. Base rates floored, mortgage rates cut and cut for the most part, QE hundreds of billions, SMI, HTB1+2, hardly any real supply, estate agents posting flyers hoping people will instruct them.

Owners still believing going to rise even more, equity rich older owners still trying to snap up houses to rent out, for future capital appreciation and yield.

Those newer buyers who bought at v-high prices not prepared to sell at a loss, when mortgage repayments lower than renting. Occasional 30year+ old independent couple buying, getting help from parents, including one who moves in with them as a condition of that help.

(So many houses in South Manchester I've had a partial interest in, if they weren't so expensive, I've seen come back to rental market after sale.)

Edited by Venger

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House prices rise in a rentier feudal state where state and private housing construction has virtually collapsed and vast majority of the populace think every inch of space has been built on. No news here.

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I suspect that 20% figure wouldn't stand up to much scrutiny, but its good link bait. The 5% rise for Greater Manchester I can believe though.

There are only a couple of pockets that could have an average value of £200K. Most of it would be significantly lower.

Some ideas of what could be pushing prices up:

  • New Metrolink lines

  • BBC

  • People relocating with their London equity gains

  • New Islington development

I was wondering about the BBC too, currently renting in Hale, loads of local houses seem to be suddenly going SSTC , we are talking £360k for a three bed terraced, about as expensive as manchester gets...

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I was wondering about the BBC too, currently renting in Hale, loads of local houses seem to be suddenly going SSTC , we are talking £360k for a three bed terraced, about as expensive as manchester gets...

SSTC after a few days of listing is another EA trick, to get some fool to try and gazump a buyer that doesn't exist. If that doesn't happen the listing will change to available again, second chance golden opportunity etc, see this all the time.

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Manchester leads the UK house prices charge.

So it's a price charge not a price bubble. That makes it ok then.

http://

putlocker.bz/watch-the-charge-of-the-light-brigade-online-free-putlocker.html

126.20 minutes (it's near the end).

Go again sir.

Edited by billybong

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Haven't looked into the data, but have come to the conclusion that since it's limited to Manchester Central, it's either something to do with the data set the Nationwide are using or something to do with the valuation method for city centre apartments. Perhaps both.

It's not credible when compared to Greater Manchester or any sub-subsets thereof.

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