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Valuing The Housing Of England And Wales

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Every year I spend a few hours of my time that I'll never get back running a valuation of housing down to county level. This usually gets some interest here so the link to the dataset is here.

Overall, value has worsened across England and Wales this year by some 4.3%. Some counties are seeing values improving but you have to head north for that. The South East and London get even more insane than they were last year. Averaging the South East and value has worsened by 9% and London by 15%. It's now so bad in London that I calculate that after tax and NI your average punter would have to work for 24 years to just secure some average bricks, mortar and tiles.

I remain and will remain out of this market.

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Incredible work many thanks, very clearly demonstrates that it really isn't worth being loyal to the SE/SW for the sake of higher earnings and slightly warmer weather!

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Lots of those figures hide multiple very different markets. Right at the top, Cumbria aggregates the desirable lake district with depressed working-class towns. Or in Yorkshire one might want to make a three-way distinction: desirable rural (incl national parks) vs functioning big cities (Leeds, Sheffield) vs industrial wasteland.

Yet sometimes you do kind-of make distinctions like that. You've separated out cheap-and-ugly Plymouth from surrounding Devon and Cornwall. A lot more could be said about that: Devon and Cornwall too contain contrasts between the idyll and the down-at-heel, with the latter showing Plymouth-like prices even within the National Park and AONB areas.

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Lots of those figures hide multiple very different markets. Right at the top, Cumbria aggregates the desirable lake district with depressed working-class towns. Or in Yorkshire one might want to make a three-way distinction: desirable rural (incl national parks) vs functioning big cities (Leeds, Sheffield) vs industrial wasteland.

Yet sometimes you do kind-of make distinctions like that. You've separated out cheap-and-ugly Plymouth from surrounding Devon and Cornwall. A lot more could be said about that: Devon and Cornwall too contain contrasts between the idyll and the down-at-heel, with the latter showing Plymouth-like prices even within the National Park and AONB areas.

I agree that there are micro-climates within every County. I'm simply trying to get more granular than the MSM views which are country or region wide at best and I hope I'm doing that.

I'd like to get deeper but unfortunately the freely available datasets that I use just don't let me get any lower than I have. For example I can get a City of Plymouth or even a City of Bristol. Unfortunately, they just don't publish the 'lake district minus all cr*ppy towns' :)

Hope it still added some value...

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Thanks for this - a really elegant metric.

I've been studying the graph and it's weird how crazy the market - even compared to itself !

Appreciate this is not a graph of FTB, however one thing I've been puzzling over is the way wage multiples appear to get increasingly out of control the more expensive the county average property is. Family inheritance ? Weird workings of credit ? Boomer 'waves' geographically related ?

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