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stripycat

Hook, Hampshire - Boom Town

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http://www.hbosplc.com/economy/ResearchReleases.asp

"For the third year running, the 20 towns with the biggest house price rises in 2005 are all outside the South East of England (see Table 4). Of the 20 towns recording the biggest price increases in 2005 outside Scotland, four are in Northern Ireland, two in Wales and one each in West Midlands, Yorkshire & the Humber, North, North West and South West. The biggest increase recorded by a town in the South East of England was in Hook in Hampshire, which saw an annual increase of 16%, ranking it 25th in the league table."

Does anyone have insight as to whats happening in Hook?

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Those reports are dated tomorrow. So we can expect loads of spin from HBOS in tomorrow's papers!!!

Hook? I don't know. A friend lives there, so I'll ask over christmas!

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Yup, this seems most likely. I don't live a million miles away from Hook and can't think of any earthly reason why prices would have suddenly jumped there... they haven't anywhere else locally during the last year.

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look at houseprices.co.uk for hook - several at £1M plus in the last 12 months but lots further down the price table. could this be the explanation - unsmoothed statistics?

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Our local rag today reports retailers in Wokingham having a bumper time - sales up 60% - no less - on last year.

A glance at the first paragraph reveals this is a story from one shop that had not long been open this time last year.

The desperation of VIs knows no bounds and they have utter contempt for the intelligence of the public. What can't speak can't lie - and people's lack of cash and mountains of debt means that times are very tight for many retailers.

Someone else hit the nail on the head in another thread - this is to try to convince everyone that everyone else is spending money like water so everything must be okay.

The ship is sinking.

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http://www.hbosplc.com/economy/ResearchReleases.asp

The biggest increase recorded by a town in the South East of England was in Hook in Hampshire, which saw an annual increase of 16%, ranking it 25th in the league table."

Does anyone have insight as to whats happening in Hook?

Hook is a tiny little village! You just can't get reliable statistic figures for such a small sample. It would only take the sale of a few top-end props to scew the average figures.

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Hook is a village in north east Hampshire, UK. It is situated approximately six miles east of Basingstoke and west of Fleet. Hook is under the control of Hart district council, and in 1991, the village had a population of 6,000.

Statistically I would guess there are probably of the order of 200 sales per year. You just can't do meaningful and reliable averages on that sort of sample. It would only take the annomoly of 3-4 additional £1M props sales (and hook has a few) to create that 16% "rise".

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Editors' Notes

Prices shown are the arithmetic average prices of houses on which an offer of mortgage has been granted. These prices are not standardised and therefore can be affected by changes in the sample size. Figures INclude properties sold for £1 million plus.

Which can roughly be translated as:

This report is completely and utterly worthless in terms of a meaningful gauge of the market......However as it only reports on the TOP (quite likely a top performer will be a bottom the following Qtr) its only use is as a tool for presenting a story of a booming market:

1 Alexandria 98,453 133,244 35%

2 Coatbridge 87,480 118,158 35%

3 Wednesbury 97,054 127,498 31%

4 Cupar 117,713 154,239 31%

5 Lochgelly 61,992 81,131 31%

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I live in a very tiny village in the West Midlands. Perhaps one or two houses change hands a year. The village consists of a handful of largish Georgian/Victorian homes with extensive grounds and a good number of cheaper attached homes. If 3 of the cheaper homes sold last year for around 150k each and just one larger Georgina home sold this year for 300k the local EA could, in truth, say prices have risen by 100% in just one year so we had better get in quick.

Just goes to show that statistics are almost useless when it comes to property prices.

The reality is that two of those large properties in our village have been on the market for over a year and have not sold.

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Yup, this seems most likely. I don't live a million miles away from Hook and can't think of any earthly reason why prices would have suddenly jumped there... they haven't anywhere else locally during the last year.

I live just down the road, and I can give you a fair number of reason why this appears to be. Hook IS bloody minute, BUT they're building a massive new development there and I know two people buying houses for top whack.

The first person I know buying there now is someone I heard about through a friend, rather than someone I know directly, and was selling and buying in Fleet (prices generally slightly higher), but when the sale fell through and he re-sold, he clearly panicked and went for a 'Victoriain style' new build here, as it was less money.

The second guy is someone I work with. He and his girlfriend are living with mum and dad but desperately want a place together, however, they don't think they can afford even to rent (he was shocked to hear that the £600pm he saw for a place he liked doesn't include council tax for example). They have no deposit but announced the other day that they are getting a part-rent, part-buy on this new estate. I don't know the numbers, but when I asked whether he was sure they could afford it he said he didn't think so originally, but it's ok because the financial advisor they saw has told him no problem. He knows my thoughts on where house prices are going but the advisor's told them that this deal's great because if they go up, they make money and if they go down they just to buy more shares in the property. Personally, I think it's disgusting, and I'm very concerned, but you know how it is, there's only so much you can say to people and I don't know him well enough to push the point any further...I've tried as much as I can.

On top of this, Hook as right next to the M3, so in fairness it gives a very good link to the commuter belt into London, and is well positioned if you work in Basingstoke, Bracknell or Reading (i.e. silicon valley) but don't want to live in any of these major towns...I work in Basingstoke and I couldn't blame anyone for that!!

Still, it's hard to believe prices are genuinely rising there when I keep an obsessive eye on my home town 5 miles away and they're heading south here, albeit not quickly enough for my liking!

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I live 2 miles away from Hook.

My neighbour has been trying to sell his 3-bed Victorian terrace for over 6 months for which it has been empty... the last time I looked on Rightmove the asking price had dropped from £325k to £300k which incidentally is less than the £305k he paid for it in 2003. He also claimed to have spent a lot on improving the place in that time.

Doesn't sound like +16% to me.

Incidentally we rent an identical place on the same terrace for £950/m

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  • 302 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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