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John The Pessimist

Dt Houseprices Fall Almost Everywhere

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Qute bearish

There was no rush to borrow to let after all the hype ,lower volumes than last year yet we have falling average prices ,is this BTL selling up ?more lower end prices in the in the bag of numbers used to calculate the average price

The next couple of momths data will be interesting if the trend stays the same this could well be the beginning

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According to Mr Pryor, such price falls impact the 'bank of mum and dad' and how much they then lend to their offspring buying in areas like Brixton and Clapham, for example.

"The infection from luxury to mainstream is much more transferable than anyone imagines, and these are the reasons why I am troubled by the Land Registry figures," he said.

I thought that was interesting enough to reproduce (not me, I mean the text, obviously). Nice article.

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Qute bearish

There was no rush to borrow to let after all the hype ,lower volumes than last year yet we have falling average prices ,is this BTL selling up ?more lower end prices in the in the bag of numbers used to calculate the average price

The next couple of momths data will be interesting if the trend stays the same this could well be the beginning

Indeed. The aggregate sales volumes in the March Land Registry report were down nationally by 5% and down 14% in London, (January 2016 vs January 2015 in both cases). If the same story is in the February transactions in the April report then the SDLT rush looks decidedly underwhelming.

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Ah feck. Everywhere except where I live.

Could be worse. It's everywhere except where I live and the other place I'm hoping to move to.

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Brexit

The looming threat of a Brexit could also be causing both builders and buyers to sit on their hands.

Amazing how everything is blamed on Brexit!! :rolleyes: How convenient.

I heard Obsourne say today that part of reason for output going down was brexit, But interviewer challenged him saying that the figures being discussed, were covering a period before the vote had even been announced. :rolleyes:

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Where dat?

Google it. If you have Property Bee, it is a fascinating insight. My property rich colleagues have started talking about the prices (positively) of their houses for the first time:

  • The Government won't let prices drop and interest rates cannot rise.
  • No Government will allow a house price crash under their watch.

They are probably right :lol:

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Amazing how everything is blamed on Brexit!! :rolleyes: How convenient.

I heard Obsourne say today that part of reason for output going down was brexit, But interviewer challenged him saying that the figures being discussed, were covering a period before the vote had even been announced. :rolleyes:

It is amazing how this situation is blamed on everything apart from prices just being far, far, far too high!

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Getting a bit tired of blaming Brexit for everything, I take it the US will be blaming the Trump effect for the "worse than UK" GDP figures then?

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Amazing how everything is blamed on Brexit!! :rolleyes: How convenient.

I heard Obsourne say today that part of reason for output going down was brexit, But interviewer challenged him saying that the figures being discussed, were covering a period before the vote had even been announced. :rolleyes:

It really is comical - the government / BoE blame anything these days on the evil Brexit. Funnily enough, Osborne, would have lined up another excuse for crappy economic news if there was no EU vote, as would Carney. Same old same old - only the excuses change.

Edited by canbuywontbuy

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I would be a lot more excited about this article if it wasn't centred around the latest Land Reg data. Putting in place the usual three month Land Reg data lag, this is telling us what was happening in the market around Christmas and the New Year. It's not capturing the end of the BTL surge before the tax changes - I don't think it even reflects the start of that, unfortunately. Next month's Land Reg will contain some serious evidence of soaring prices IMO. Wait until at least June to get the post BTL-surge data from the Land Reg.

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According to the article there was no BTL surge, and the prices of executive, high-end, central flats all over the globe have been coming down for months as QE has tapered. I don't know about 70% but knocking a few hundred grand off of rabbit hutches in London would be amusing.

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It really is comical - the government / BoE blame anything these days on the evil Brexit. Funnily enough, Osborne, would have lined up another excuse for crappy economic news if there was no EU vote, as would Carney. Same old same old - only the excuses change.

Their excuse culture is the equivalent of a 20%/30% annual tax on UK people as they always look for the easy excuse and never sort out the real problems with the economy.

If they were half competent the average UK GDP per Capita would be nearer the likes of Ireland, Iceland, San Marino or the Netherlands - so effectively their excuse culture costs everyone on average something like £10,000 a year (at least).

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita

Edited by billybong

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I want to live in Trafford area where I used to live but due to amazing price hike it seems crazy to buy at this moment. I want to buy somewhere but I resent having to get a large mortgage for the next x years just to have my own place. I read the comments on the site and am reassured that something may correct the madness. I wonder if this is an indication that things may be stopping the madness of house prices? Also should I just be patient and hold on a few months for the market to become a buyers market again. Also for the more savvy of you do you think it is ready to crash. I feel in my bones that the vested interests in the media and in government have created a panic in people buying. I feel so sorry for young people who have 240000 mortgages or more. It is so much debt for them to carry. Just want some reassurance really that the tide is turning.

First time I have wrote anything on this site although I love reading your comments. Piece of sanity on the web.

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The smell in the wind is "fear of debt". :wacko:

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