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Viewings Have Dried Up - So I Was Told This Morning


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And that's the one time your guard has slipped re all this "no bubble in the north", nonsense.

How many such posts? With 2007 regularly being the measure of what is not a bubble.

Some of your houses in the most deprived areas need to go back to 1964 values, to make them worth buying for some people. Not your 2004-2007 measure.

Glad to se i am not the only one thinking along those lines

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Can't you please buy in one of these no-boom Northern areas, in one of the known bleakest areas? Like Middlesbrough or north shore terrace in Blackpool, next to the LHA housing.

Rather than the main north where many of us are hoping to buy, and have to hear this nonsense all the time about no bubble-no boom.

To be fair,in many cities north of the Watford Gap,there's been no rises since 2004.

Check the sales data available on rightmove

http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=ls5&sellersPriceGuide=Start+Search

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Keep drinking your Kool aid. Other good areas in the North West are also moving over 2007 peak now. Stockton Heath in Warrington for example. Others available.

Where there's work, prices are up. Just like London.

Rightmove does pretty good sales data

WA4

It's up over ten years,but pick your points in time carefully.

Jan 2004 £188k-Jan 2014 £245k

For a decent bubble,you don't get better than the smoke

SW3 -£685k in Jan 2004 to £1,712k Jan 2014 (Feb £2,815k)

You can't haggle with that one.

Edited by Sancho Panza
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To be fair,in many cities north of the Watford Gap,there's been no rises since 2004.

Check the sales data available on rightmove

http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=ls5&sellersPriceGuide=Start+Search

Search LS5 houses for sale.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE%5E1549

Quarter million for that first home. Tells me all I need to know.

This one reminds me of a house an investor was all tearful about, when Simon Morris' (name?) Leeds orientated property-investment company had "sold him" for his future/pension - that was downvalued and no tenants, and he was about to lose it to repo. It wasn't that house (I don't think), just reminds me of it.

http://www.rightmove.co.uk/property-for-sale/property-30842370.html

2004 no inflation? Many should be pre 1999 asking prices imo.

Edited by Venger
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Search LS5 houses for sale.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE%5E1549

Quarter million for that first home. Tells me all I need to know.

This one reminds me of a house an investor was all tearful about, when Simon Morris' (name?) Leeds orientated property-investment company had "sold him" for his future/pension - that was downvalued and no tenants, and he was about to lose it to repo. It wasn't that house (I don't think), just reminds me of it.

http://www.rightmove.co.uk/property-for-sale/property-30842370.html

2004 no inflation? Many should be pre 1999 asking prices imo.

I wouldn't call those houses you listed first time buyers homes. The fiirst one is the highest price in the search.

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Rightmove does pretty good sales data

WA4

It's up over ten years,but pick your points in time carefully.

Jan 2004 £188k-Jan 2014 £245k

For a decent bubble,you don't get better than the smoke

SW3 -£685k in Jan 2004 to £1,712k Jan 2014 (Feb £2,815k)

You can't haggle with that one.

Not sure quite what your point is but I'll take it as endorsement.

Wages have gone backwards for years and prices are as high and getting higher than they have ever been where someone with a job and what historically would have been considered a realistic income might want to live.

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I wouldn't call those houses you listed first time buyers homes. The fiirst one is the highest price in the search.

Care to show me an example then?

There's only 5 pages of properties showing on a LS5 search. Kirkstall. http://www.yorkshirepost.co.uk/news/debate/yp-comment/40-somethings-paying-the-price-1-6642164

And then explain how a couple, after buying it, stands a chance of upsizing?

What level of risk you think they're at after buying this example (hoping you'll link to), of correction in that house, from these values which are steady 2004?

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N1/N4 estate agent (Hotblack Desiato) email I received on Friday:

"With the market looking like it is beginning to turn back into the buyers favour, and with plenty of new properties flooding the market, it really is becoming an excellent time to buy"... "loads of great properties - from quirky studios under £300k (WTF)"...

My first thought?

trap.jpg

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N1/N4 estate agent (Hotblack Desiato) email I received on Friday:

"With the market looking like it is beginning to turn back into the buyers favour, and with plenty of new properties flooding the market, it really is becoming an excellent time to buy"... "loads of great properties - from quirky studios under £300k (WTF)"...

My first thought?

trap.jpg

According to estate agents it's always the right time to buy.

If prices are falling it's time to "snap up a bargain", and if prices are rising you should "buy now before you miss the boat".

Either way, you should buy now or you'll keep "paying your landlord's mortgage" :rolleyes:.

Letting agents are a different kettle of fish though. They always say it's a bad time to buy, unless it's a buy-to-let and you use them to let it out.

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Not sure quite what your point is but I'll take it as endorsement.

Wages have gone backwards for years and prices are as high and getting higher than they have ever been where someone with a job and what historically would have been considered a realistic income might want to live.

I think the point he is trying to make is that WA has only gone up 30% in 10 years so that is not a bubble compared to London. Of course that completely ignores the WA rises between 1999 and 2004. It's all part of the previous bubble now being classed as "normal".

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2004 no inflation? Many should be pre 1999 asking prices imo.

I agree that if we get to 1999 levels there's a support level there in terms of income multiples.

I was merely pointing out that the original poster claiming no/few rises in the north since 2004 was there or thereabouts in terms of the sales data.

If we go to 1999,then everywhere's still well up.

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Search LS5 houses for sale.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE%5E1549

Quarter million for that first home. Tells me all I need to know.

This one reminds me of a house an investor was all tearful about, when Simon Morris' (name?) Leeds orientated property-investment company had "sold him" for his future/pension - that was downvalued and no tenants, and he was about to lose it to repo. It wasn't that house (I don't think), just reminds me of it.

http://www.rightmove.co.uk/property-for-sale/property-30842370.html

2004 no inflation? Many should be pre 1999 asking prices imo.

Having grown up in LS5 on the Lea Farms I have a couple of points to note:

1: Thats not a first time buyer house in that area, thats a definite 2nd/3rd stepper

2: NO house can be worth 1/4 million quid on the Hawksworth estate

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Trying to prove prices are fine?

Not at all,merely pointing out that if we reference sales data for postcodes we're haggling data points instead of supposition and rumour.

Personally,I thought HPI was out of control from 2000 but I've obviously been wrong for a decade plus.

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Not sure quite what your point is but I'll take it as endorsement.

Wages have gone backwards for years and prices are as high and getting higher than they have ever been where someone with a job and what historically would have been considered a realistic income might want to live.

There's a massive mismatch in terms local incomes and house prices in most postcodes.

It's a disaster waiting to happen.

I think the pertinent point post 2004 is that the only place they've managed to ramp the bubble significantly is in the SE.Markets move at the margins first and the low end HPI in the Midlands and North since then tells a story of it's own.

Edited by Sancho Panza
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I agree that if we get to 1999 levels there's a support level there in terms of income multiples.

I was merely pointing out that the original poster claiming no/few rises in the north since 2004 was there or thereabouts in terms of the sales data.

If we go to 1999,then everywhere's still well up.

That RM sales data only goes back to Feb. I'd say prices have gone up since then, so someone on the ground will have more idea about current prices in their area.

Re 1999 the first thing New Labour did was the 1998 Bank Act which made the Bank of England Independent. With reference to 2004 prices, in 2003 they cut rates to a 48 year low when annual HPI was 25%

The Bank of England has surprised City analysts by cutting interest rates by one quarter of a percentage point.
After 14 months on hold, rates have been cut to 3.75%, taking borrowing costs to their lowest level since 1955.
The move surprised City analysts, who had thought that the Bank would maintain rates at 4% to keep a lid on the housing market and general inflation.
House prices last month were 24.9% higher than in January 2002, Halifax, the UK's biggest mortgage lender, said on Wednesday
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Care to show me an example then?

There's only 5 pages of properties showing on a LS5 search. Kirkstall. http://www.yorkshirepost.co.uk/news/debate/yp-comment/40-somethings-paying-the-price-1-6642164

And then explain how a couple, after buying it, stands a chance of upsizing?

What level of risk you think they're at after buying this example (hoping you'll link to), of correction in that house, from these values which are steady 2004?

My point is taking the highest price in an area isn't a good way to prove a point. Just had a look at gl4 where I live I can afford the most expensive house around where I live either.

http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=OUTCODE^992&insId=1&radius=0.0&displayPropertyType=&minBedrooms=&maxBedrooms=&minPrice=&maxPrice=&retirement=&partBuyPartRent=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

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Stockton heath has had nutty prices for over 30 years, went to school there very over rated area, same with most of Warrington south of

the ship canal.

*Yawn*

It's always the same, Altrincham/Bramhall/Chorlton/Didsbury/Frodsham/Heaton Mersey/Knutsford/Lymm/Prestwich/Stockton Heath/Wilmslow/Worsley* have always had nutty prices. Lame.

*delete as applicable.

Get educated they said, go to university they said, get technical skills, learn a language. For what?

To live somewhere where the local amenities amount to a kebab shop, a tanning salon and a newsagent that sells class As under the counter?

Thanks, you're really spoiling me.

Edited by 7 Year Itch
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That RM sales data only goes back to Feb. I'd say prices have gone up since then, so someone on the ground will have more idea about current prices in their area.

Re 1999 the first thing New Labour did was the 1998 Bank Act which made the Bank of England Independent. With reference to 2004 prices, in 2003 they cut rates to a 48 year low when annual HPI was 25%

As I'm sure you know it can take a few months for sales to get registered,hence the lag in the data.

Until the sale gets registered,you're really just guessing at the price action.No offence.

As for the late 90's there was a bit of 'arms race' in terms of banking post the repeal of glass steagall.

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As I'm sure you know it can take a few months for sales to get registered,hence the lag in the data.

Until the sale gets registered,you're really just guessing at the price action.No offence.

As for the late 90's there was a bit of 'arms race' in terms of banking post the repeal of glass steagall.

Oh pur-lease, don't be such a cop out. Guessing indeed. If I were a betting man I'd back Demo's guesses.
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