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gruffydd

Job Losses Hit House Prices Up North - Prices Down 12.6% - Co. Durham - Crisis

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And this from Fiona Earley at Nationwide

Ms Earley told The Northern Echo last night: "We have seen strong house price growth in the North-East until recently, so it could just be that the market is correcting itself.

Nationwide are now talking about a market correction.

Jeeeeeeeezzzzzzz.... :ph34r::ph34r:

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We've seen a few false dawns on this site over the years, but could this be the begining of attitude changing? I hope so.

Also. Does anyone else think (like I do) that our enemy (the media) will become our best friend when the excriment hits the cooling impement? They have to sell papers, and attention grabbing "HOUSE PRICES FALL" headlines will sell papers.

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This is just another example of what has been predicted and said here on HPC for a long time. The crash is already beginning, and in some segments of the market (geographical as well as property type) already in full swing. It just does not get reported, because somehow, when the monthly figures come out, it all gets smoothed out by an average figure for the UK or England.

I have said this before, in the age of spin and lies, this coming crash may be the "unreported crash". prices might fall substantially, and yet the VIs will continue to churn out figures that show single digit increases.

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And this from Fiona Earley at Nationwide

Nationwide are now talking about a market correction.

Jeeeeeeeezzzzzzz.... :ph34r::ph34r:

Doesn't mean a thing till Halifax says theres no hope. When they start to get gloomy BUY BUY BUY.

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http://www.thisisthenortheast.co.uk/the_no...news/NEWS7.html

Job losses hit house prices in the North

by Julia Breen

JOB losses and factory closures were last night blamed for a crisis of confidence in the housing market that has seen falls of up to 13.5 per cent in parts of the region.

Seious chaos. Should be enough to give the motgage lenders the willies.

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Gifted deposit schemes and two year rent guarantees to Btl on new builds ...are of of course de facto price cuts but the nature of these which are principally to stimulate the volume of sales by easing the buyer's cashflow ........means the agreed official sale price is 10% or so above the effective price paid........

and it is this higher figure that goes into the Halifax and Nationwide price data.......

Thus a 10% drop in the market for such properties would not appear as such!!!!!!!!!!!!

but I have no idea what proportion of sales are of this type...........

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things are just starting to look good in the north east!

evening gazette story tonight on about gresham area of middlesbrough

{its going to be knocked down council trying to buy props off residents}

and i quote!

ian m@@@@@@@d senior valuer partner at thirlwells e/a middlesbrough said valuation prices have dropped about 10k per property in middlesbrough in general as for gresham they are blighted within that area they have droppd about 20%

thats the trend we are seeing probably in the last six to seven months since they announced they were coming down!

up to that point we couldnt put enough street house on the market middlesbrough town centre was booming.

"there was a mini price boom within middlesbrough"

now there is lots of supply but very, very little demand.i do feel sorry for them!

local councillor says the longer people were sitting on their properties the more they may have to drop the price.

he said "the people who are saying we want to stick out and see what happens and what sumer markets bring i think are going to be disapointed

"i think the longer they sit on them the more they are going to have to drop their prices

now in my opinion this may be scare tactics local council trying to buy low from the residents of gresham

but it doesnt paint a very pretty picture does it ? :D

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  • 301 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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