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House Prices Set To Fall In 2015: Economic Group Says Values Will Hit 'turning Point' After Three Years Of Rises

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But after three years of soaring prices the market is about to reach a ‘turning point’, it warns.

Maybe it's been rising for 3 years in London but elsewhere the increases have been mainly since last year after Help to Buy (Sell) and apparently not everywhere has been rising either.

So they seem to be presenting a bit of a false picture - again.

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In my neck of the woods the rises came thick and fast after london kicked off.

from folks down the school i can confirm its londoners leaving and some from Cambridge as thats expensive also.

Its logical to assume that a reverse ripple effect should follow london falls.

This have already slowed significantly and if the property is not perfect.

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All the sheeple read the mail, this should help reduce sediment enough to cause a spring collapse - then the fun starts.

Is that the sediment they have in their brains you mean?

Ok, ok I'm a sheeple but I hope my brains are crystal clear (most of the time) thankyou.

You may dispute that but I do balance skim reading the Mail with HPC so there is hope for me yet.

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A 0.8% drop over 12 months seems conversative to me, especially if interest rates rise.

Thats not even a 0.1% drop a month, on average.

Its PR speak for prices will fall but we do not know how much and we dare not want to admit to more.

Anything aside from houses would be considered fine to go up 30% in a year or so and then retrace half of that on the way up.

Bizzare

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So, these forecasters bug the crap out of me. I thought I'd check against what they've said earlier in the year, but I don't even have to go back that far. They haven't a clue.

AUGUST 5, 2014

"Further, large bouts of construction in the capital, including building of property, are expected to help slow the rate of house price growth to 11.4% by 2015, compared to 16.1% in 2014, as new supply becomes available. By then, the average London property will cost £518,600."

http://www.cebr.com/reports/house-price-growth-to-ease/

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Maybe it's been rising for 3 years in London but elsewhere the increases have been mainly since last year after Help to Buy (Sell) and apparently not everywhere has been rising either.

So they seem to be presenting a bit of a false picture - again.

Most people on here seem to be saying prices are above 2007 levels where they are, im looking at places 100 miles from London and they most certainly are.

Its a myth that its only a London bubble.

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Well ...

http://www.ftadviser.com/2014/10/02/mortgages/house-prices-in-the-north-climb-in-years-halifax-Kh8tbkMwJTQVvqKYyA4zbI/article.html

House prices in the north climb 5% in 10 years – Halifax

Alex Reynolds, independent financial adviser for London-based Advies Private Clients, said: “These averages are largely meaningless because it is so regionalised, even within places such as London. It will not always show what is happening to your individual house.”

Region

Average House Price (All Properties), Q2 2014

Change From Q2 2004

North

£143,496

5%

North West

£156,272

5%

Yorkshire and the Humber

£149,525

5%

West Midlands

£172,084

5%

East Midlands

£163,317

4%

East Anglia

£199,628

12%

Greater London

£388,824

30%

South East

£271,954

11%

South West

£214,083

7%

Wales

£150,068

4%

Scotland

£164,219

30%

UK £214,450 15%

Source: Halifax

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Might make a few of the pension-BTL wannabees pause for thought between now and April

Quite. I'm hoping the dip has come early enough to reduce any likely new surge in January as a result of this. It was probably the last big thing the government could have done to keep prices up.

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Most people on here seem to be saying prices are above 2007 levels where they are, im looking at places 100 miles from London and they most certainly are.

Its a myth that its only a London bubble.

At the risk of sounding bullish, prices around here 30 miles from Bristol are +/- 10% on the stupidly mental 125% LTV give anyone a mortgage 2007 prices, depending upon the exact location and if the seller actually wants/needs to sell.

Plenty of £300k+ kite flying rural crap that there is zero demand for and will deteriorate before being flogged in auction.

However, my wages are 25% to 30% up on 2007.

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Might make a few of the pension-BTL wannabees pause for thought between now and April

I'm less confident the individual will save themselves, I think most soon to be pensioners have already planned on doing it as the annuity have been run into the ground. A large number have already attended the over 60 BTL seminars and even a crash wont stop those property 'gurus' from encouraging the retires to part with their cash. The old, you take the risk and I'll take the reward strategy. Carny has to step in but he has already said that he knows about the issue but will just wait and see.

I personally expect another silly season to be around the corner and after that there wont be much to keep them up.

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Most people on here seem to be saying prices are above 2007 levels where they are, im looking at places 100 miles from London and they most certainly are.

Its a myth that its only a London bubble.

You appear to have misunderstood the point I was clearly making in my earlier post.

It wasn't about the level of house prices it was about how long they'd been rising.

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In my neck of the woods the rises came thick and fast after london kicked off.

from folks down the school i can confirm its londoners leaving and some from Cambridge as thats expensive also.

Its logical to assume that a reverse ripple effect should follow london falls.

This have already slowed significantly and if the property is not perfect.

Same problem in Reading apparently many Londoners moving out and buying up the 'bargain' 3 bed new builds at 400k... you can't even get a terraced for less than 220k at the moment and 2 bed new build houses up from 250k to 325k in 18 months.

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At the risk of sounding bullish, prices around here 30 miles from Bristol are +/- 10% on the stupidly mental 125% LTV give anyone a mortgage 2007 prices, depending upon the exact location and if the seller actually wants/needs to sell.

Plenty of £300k+ kite flying rural crap that there is zero demand for and will deteriorate before being flogged in auction.

However, my wages are 25% to 30% up on 2007.

Most of the prices property goes for at auction is insane, there was a doerupper or knockitdowner in Hampshire that didnt sell for a year at 200K and went off the market around March; it sold at auction last month for 300k.

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You appear to have misunderstood the point I was clearly making in my earlier post.

It wasn't about the level of house prices it was about how long they'd been rising.

In my search area they dipped until 09/10 and seem to have been slowly on the rise ever since, but with the last 12 months seeing sold prices go well above 2007 prices if its decent.

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In my search area they dipped until 09/10 and seem to have been slowly on the rise ever since, but with the last 12 months seeing sold prices go well above 2007 prices if its decent.

I dare say but the mail was implying in its headline and elsewhere in the article that UK prices in general had been "soaring" for 3 years which is misleading for the UK as a whole - as if the soarings :rolleyes: started everywhere in 2011. A lot of stuff only took off after Help to Buy (Sell) which was introduced about 1.5 years ago early in 2013.

1.5 years difference.

Later on in the article they got round to it mainly being in London and the South East.

All of the figures are national averages, and do not reflect the wide disparity in house price movements between London and the South East and the rest of the country.

Edited by billybong

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