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Hometrack Data December 2005

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The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

I'm in Cambridge

Average terrace according to Hometrack in Cambridge is £154,000 (page 8 3rd line down)

I sold 2 bed terrace in July 05 for £238,000

The very cheapest on Rightmove is £159,000

The cheapest Victorian 2 bed terrace is £189,500 and has a assured short term tenancy.

The cheapest close to the station is £209,500

How can the average be $154,000 :wacko:

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The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

I'm in Cambridge

Average terrace according to Hometrack in Cambridge is £154,000 (page 8 3rd line down)

I sold 2 bed terrace in July 05 for £238,000

The very cheapest on Rightmove is £159,000

The cheapest Victorian 2 bed terrace is £189,500 and has a assured short term tenancy.

The cheapest close to the station is £209,500

How can the average be $154,000 :wacko:

I've noticed that there are houses near me that haven't sold for over 9 mths where they are asking 15% more than has ever been achieved (checking land registry data). The peek prices seem to have been around 12mths ago and any sales being recorded now can only be for houses that have been sold at or below this peek value. In summary nothing is moving near me for anywhere near asking price. I don't know about Cambridge but I would take the estate agent valuations with a piece of salt.

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The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

I'm in Cambridge

Average terrace according to Hometrack in Cambridge is £154,000 (page 8 3rd line down)

I sold 2 bed terrace in July 05 for £238,000

The very cheapest on Rightmove is £159,000

The cheapest Victorian 2 bed terrace is £189,500 and has a assured short term tenancy.

The cheapest close to the station is £209,500

How can the average be $154,000 :wacko:

I don't trust any of these press releases (Hometrack, RICS, Rightmove, Halifax, Nationwide) when their report is based on statistics compiled from something other than land registry data (asking prices, VI sentiment, estate agent web site data, mortgage arrangements).

0.1% is a pointless figure to report - the noise (error) in their calculations could be 5%, 10% or higher.

Even the ODPM figures (that lag the market by several months) can be flawed because every report contains a different group of house sales. At the moment the type of properties selling are not typical of the housing market as a whole. Eg where are all the proper FTB sales these days? They've gone.

I trust my own eyes and some of the figures reported on http://www.houseprices.co.uk

I see a lot of houses selling at £20,000 or more below their asking prices.

To reply to your post redwing, they've probably rolled suburbs of Carlisle into the Cambridge figures. Don't trust 'em!!

Xil.

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The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

I'm in Cambridge

Average terrace according to Hometrack in Cambridge is £154,000 (page 8 3rd line down)

I sold 2 bed terrace in July 05 for £238,000

The very cheapest on Rightmove is £159,000

The cheapest Victorian 2 bed terrace is £189,500 and has a assured short term tenancy.

The cheapest close to the station is £209,500

How can the average be $154,000 :wacko:

that's Cambridgeshire. Cambridge is later at £174,200 which is a bit closer

I'm happy renting at a 3% yield here instead

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that's Cambridgeshire. Cambridge is later at £174,200 which is a bit closer

I'm happy renting at a 3% yield here instead

Nearly. £174,200 is all Cambridge properties under the heading "City".

My personal interest and experience is in terraced houses in the bijou bits of CB near the station. Hence my interest in column 4.

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I agree with you Xil, - where I am I am seeing houses hanging around for ages, usually not even 'SSTC', which would have sold quickly 2 years ago, and anecdotally, vendors getting no viewings at all. I don't trust the VI 'data' at all.

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There are three detached houses in my parents road being sold for between £250,000 and £270,000

only they have been on the market for at least 6 months..

and the last of these that was sold was sold in late 2003 for £180,000

So does that mean that the houses are worth over £250,000, or because they are not selling that they are not worth this.

They are worth only what you get for them

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Guest wrongmove

The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

This is one of life's great mysteries! :P

I think they lick thier finger and stick it out the window ! Apart from the fact that Hometrack is the most bearish index, it is easily the most random and useless. Now it is going positive, we can safely slag it off along with all the others !

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Well I found it interesting :) .

It is of course ugly how Wriggleabout has altered the shape of the notices in recent months.

He is a charlatan.

His analysis is rigorous but his adjoining comments and press releases are pathetic.

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The property figures are unbelievable. Can someone explain how Hometrack get these average prices?

I'm in Cambridge

Average terrace according to Hometrack in Cambridge is £154,000 (page 8 3rd line down)

I sold 2 bed terrace in July 05 for £238,000

The very cheapest on Rightmove is £159,000

The cheapest Victorian 2 bed terrace is £189,500 and has a assured short term tenancy.

The cheapest close to the station is £209,500

How can the average be $154,000 :wacko:

I expect they are including prices from places like Arbury which will bring the average down!

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Have to agree with most of you, something does not stack up here.

As for Hometrack, Devon prices are not flat or have gone up by a long way.

I am (sorry wife pushing) trying to purchase in Mid Devon, houses are sticking round for ages, being reduced and then still not moving.

Of all the houses I’ve been tracking, the best reduction is from 360K to 299K and still not sold.

Trying to hold out until late spring when I think the fun will start for real.

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I think it is unrealistic to say that all these reports are inaccurate – individually they may have differences but together they do show a general trend shows that prices have not really done much at all – there are no £60000 reductions – just people over valuing their properties and then having to reduce them – I blame the estate agents for every thing

Edited by look to the past

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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% +
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