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TheCountOfNowhere

Land Reg Dec: Up 1.2% Mom 6.4% Yoy. The Madness Continues

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Full report

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/495364/December_HPI_2015.pdf

It's not good reading really if you're pro HPC.

What pushed London's falling prices back up so quickly in Q3 2015 (see chart p4)?

Flight capital from China and emerging markets?

Osborne spending like a madman again after the G.E.?

Pensions liberation?

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No suprise to me in Luton

The asking prices have gone insane

£145k 2 bed flats a year ago now £175

£160k 3 bed houses now £230k

Friend brought 3 bed house for 189 2 years ago just valued at 250 ...more LTV to him cheaper mortgage.For me as FTB utter destruction

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Full report

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/495364/December_HPI_2015.pdf

It's not good reading really if you're pro HPC.

What pushed London's falling prices back up so quickly in Q3 2015 (see chart p4)?

It's great reading

CZ4cEIpWkAAqKmk.jpg

As predicted, sales volumes are collapsing.

The prices are just insane.

Asking prices i've looked at round west mids and Northants are 2007+50%

Who the f**k is buying.....fewer and fewer people.

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Who the f**k is buying.....fewer and fewer people.

Viewed a house yesterday, the day it appeared on RM. Demand to see it was so great, it was a group viewing from 4pm. So, during working hours, mid week, I was one of ten people on the list that came to see. EA running it was very candid about BTL madness at the moment and advised me in front of the others that since I was actually looking to buy a place to live in (which he described as a "novel idea") I should wait until after April.

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Viewed a house yesterday, the day it appeared on RM. Demand to see it was so great, it was a group viewing from 4pm. So, during working hours, mid week, I was one of ten people on the list that came to see. EA running it was very candid about BTL madness at the moment and advised me in front of the others that since I was actually looking to buy a place to live in (which he described as a "novel idea") I should wait until after April.

I do love a Block viewing pretend EA generated demand.

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Viewed a house yesterday, the day it appeared on RM. Demand to see it was so great, it was a group viewing from 4pm. So, during working hours, mid week, I was one of ten people on the list that came to see. EA running it was very candid about BTL madness at the moment and advised me in front of the others that since I was actually looking to buy a place to live in (which he described as a "novel idea") I should wait until after April.

Pay 20% extra to save 3% stamp duty.

These BTL savvy investors know their stuff

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Pay 20% extra to save 3% stamp duty.

These BTL savvy investors know their stuff

20% higher prices = 20% more commission for 2nd hand house salesmen = more banker support.

People really are stupid

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Viewed a house yesterday, the day it appeared on RM. Demand to see it was so great, it was a group viewing from 4pm. So, during working hours, mid week, I was one of ten people on the list that came to see. EA running it was very candid about BTL madness at the moment and advised me in front of the others that since I was actually looking to buy a place to live in (which he described as a "novel idea") I should wait until after April.

I hope you set fire to his trousers?

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It's great reading

CZ4cEIpWkAAqKmk.jpg

As predicted, sales volumes are collapsing.

The prices are just insane.

Asking prices i've looked at round west mids and Northants are 2007+50%

Who the f**k is buying.....fewer and fewer people.

Similar to what I've been seeing in my neck of the woods in France.

Sales volumes of detached/semi detached houses that I'm looking at have collapsed. Very little tempts a buyer. Inventory is at years. Not months.

Some prime sales at very top of chain skew the figures. Everwere else , negotiations are downwards.

But there are still a lot of boomers and families of boomers who can hold out due to near zero IRs. They are propped up by govt/banks.

I'm still out of the market.

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No suprise to me in Luton

The asking prices have gone insane

£145k 2 bed flats a year ago now £175

£160k 3 bed houses now £230k

Friend brought 3 bed house for 189 2 years ago just valued at 250 ...more LTV to him cheaper mortgage.For me as FTB utter destruction

Same position as myself.

Crazy rises in a town with the reputation of luton....

Main train line out of London fuels a lot of it

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Bit slow on the uptake this month but I've just finished importing the latest data into https://houseprices.io/ if anyone wants a look.

Thanks, very interesting. Still a mixed picture where I am (South East), with a few falls at the top end but prices still holding up lower down, unfortunately.

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Well, heaven in Devon is -0.1% on the month and +2.9% year-on-year. :)

Just presenting this shire county as an example, the detachment of London (and SE) prices is truly epic. At the dawn of the crash (2008), Devon prices were up 225% on 1995 prices whereas London prices were up 281% (Land Registry, nominal £).

From the start of the 2008 crash until now, Devon is DOWN 2% and London is UP 47%. :blink:

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Volumes aren't collapsing generally... as evidenced by the charts in the report. The examples you highlight are for top end only.

edited for spelling.

Edited by bricor mortis

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Bit slow on the uptake this month but I've just finished importing the latest data into https://houseprices.io/ if anyone wants a look.

Thanks for the website. Very helpful. Volume seems to be about 25% of October and November completions in my area. Which is quite significant as last year it was 100% and just looked like another month.

One explanation might be that in the stock market in September put a lot of buyers off at least for a month or two.

I distinctly remember choice getting narrower in the run-up to the last peak, with quality of homes going downhill at the same time as prices holding steady. The same thing appears to be happening.

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I distinctly remember choice getting narrower in the run-up to the last peak, with quality of homes going downhill at the same time as prices holding steady. The same thing appears to be happening.

This is exactly what I'm seeing, volumes well down, quality WELL down and prices steady.

I'm amazed a bigger deal isn't being made about the decline in volumes, especially as there hasn't been a corresponding rise in prices as the ''it's all down to supply and demand'' brigade would have us believe.

In my area of the North West (SK14) there has been a 35% drop in total volumes on the market and a 50% drop in new instructions from Oct 14 - Dec15...

and yet prices have, at best, remained unchanged (well sold prices at least, asking prices are insane).

I'm struggling to understand the drop in volumes, for my area at least, prices are no more unaffordable now than they have been for the last 8 years so why has the sentiment suddenly changed so drastically that everyone has decided they can't afford to ''move up the ladder''?

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