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music man

Terraced Houses Down 42% Norfolk

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Using the statistical methods that we see in everyday news - the BBC site http://news.bbc.co.uk/1/shared/spl/hi/in_d...html/33ub.stm?t shows that terraced house are down 42% (or 10.5%) for the quarter for North Norfolk.

As I'm baffled by the fact that with house prices coming down for 16 months consecutively the vested Interests claim through the general media that prices are on the up. Creative accounting I say. And I feel we can all enjoy the moment when we can use our own methods to produce 'facts'.

Please feel free to add any 'facts' that may be apparent for your area.

Here's the process.

Go to this bbc site http://news.bbc.co.uk/1/hi/business/your_money/default.stm and put in your postcode.

If not direct go to bbc.co.uk then your money - then your there.

Voila - you'll see what's going on in your area, and for the purpose of adding to this blog - place in type of residence, the reduction in price (figure for the quarter x 4) and your area in the title please. Search through the type of market sector and you'll be amazed.

Come on everybody it's x-mas time and we can have lots of fun here.

These details will also be invaluable to assist the tumble, that's why there is so much creative accounting. If we can get 100's of these figures we're onto a winner. Then maybe we can use the press ourselves.

Wishful thinking but who knows - can a newspaper really not print something as severe as a list of 100's of areas and the price falls.

And of course we are serving the first time buyer by not letting them get into negative equity without some up to date unbiased info.

Please be generous with your findings and make this happen.

Your counrty needs you, well I do anyway.

Merry times to you all.

Edited by music man

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I was going to script this up but I haven't had chance. However, if you want to get some idea of the price changes of a particular area by type over time you can follow this method. This URL gets you to the page you need:

http://www.landreg.gov.uk/propertyprice/in...e/ppr_ualbs.asp

I've done this for the postcodes around my local area (BL1 7...), and cut and pasted the results over the last few quarters. You can see the price changes over the period. Gosh, what a surprise! There's a fall in prices right across the property types.

Sorry it doesn't line up, but you can cut and paste into a spreadsheet to get a graph. This shows average prices and number of properties for the average. Interesting reading.

          Detached      Semi-Detached   Terraced     Flat/Maisonette Overall           £            £               £            £               £Jul-Sep04   218160    15 153291    18     99624    16       0    0    155624    49Oct-Dec04   233312    19 137241    12     99376    13       0    0    167538    44Jan-Mar05   256666     3 154500     6    141175    10   76237    4    148421    23Apr-Jun05   271487     8 164152    19    122243     8       0    0    179106    35Jul-Sep05   226565    15 145126    13    112966    15  106733    3    158691    46

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I was going to script this up but I haven't had chance. However, if you want to get some idea of the price changes of a particular area by type over time you can follow this method. This URL gets you to the page you need:

http://www.landreg.gov.uk/propertyprice/in...e/ppr_ualbs.asp

I've done this for the postcodes around my local area (BL1 7...), and cut and pasted the results over the last few quarters. You can see the price changes over the period. Gosh, what a surprise! There's a fall in prices right across the property types.

Sorry it doesn't line up, but you can cut and paste into a spreadsheet to get a graph. This shows average prices and number of properties for the average. Interesting reading.

          Detached      Semi-Detached   Terraced     Flat/Maisonette Overall           £            £               £            £               £Jul-Sep04   218160    15 153291    18     99624    16       0    0    155624    49Oct-Dec04   233312    19 137241    12     99376    13       0    0    167538    44Jan-Mar05   256666     3 154500     6    141175    10   76237    4    148421    23Apr-Jun05   271487     8 164152    19    122243     8       0    0    179106    35Jul-Sep05   226565    15 145126    13    112966    15  106733    3    158691    46

There seem to be differences here between individual house prices and the quarterly stats . I found the same with the RG45 area .

If you look at Jul-Sep05 individually there are 16 terraces sold on average for £110,278 not the £112966 .

bl1.zip

bl1.zip

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The thing I find really interesting about doing this is how varying the results are because the areas covered are too small to be a statistical sample. One of my local areas, Haringey, is up about 9% on the last quarter, something which estate agents have been trumpeting to try to ramp prices.

However once you view the Land registry figures you realise this is a statistical oddity. Detached houses are up 114% in the last quarter, based on 14, yes, 14 sales. All this means is that some big houses have come on the market in that period. As a result houses are up 31% YOY. But flats are up only 2% for the quarter, 0.2% for the year. This is based on 444 sales, more than half of the total sales. So a tiny amount of activity at the top of the market has produced a very heavy statistical distortion on the range.

It's a pretty useful thing to know, particularly when viewing smallish flats whose owners have been suckered by eas into asking for prices 10% up on the last year.

The same applies in the opposite direction of course. Some places have spectacular falls based on similarly small quantities. Expensive houses being put on the market or not makes a huge statistical difference in either direction to small samples. It's only really on bigger samples that you get accurate readings of what's happening.

Edited by Magpie

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  • 301 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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