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Realistbear

West Midlands Headed Down

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In the village of Norton just outside Evesham there are 5 new builds for sale. Small detached (18 inches separate each property--might as well be a terrace) for 287k. Been on the market for months and months and none have sold. Still no signs of a pick up and quite a few houses that were withdrawn before Christmas are back with new EAs.

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http://icbirmingham.icnetwork.co.uk/birmin...-name_page.html

West Mids housing market trailing Feb 8 2006

In Warwickshire, though, prices for detached homes
fell
by two per cent against the trend to an average of £305,639. Flats were cheaper
down
1.6 per cent at £132,759.

More like 10% down. These are official LR figures and are trailing about 3-6 months.

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A little further north (west) is some teritory I know well - the Kidderminster / Stourbridge area.

Just spotted this 3 bed terrace. Within a radius of a mile from a postcode I monitor regularly, properties on this road always appear in the listing. Not the nicest of areas, but literally half a mile or so from some much better areas... I have found this 3 bed terrace now for 104,995. Previously, I've only seen them for 115k (in fact there are others in the same street listed for this or more), so I make that a drop of just short of 10%.

Given that the final agreed price will be less than this, I think I've found my first sub-100K terrace in this area that is less than 35 years old...

Everything now has to match this price or better it...

blane.jpg

post-2575-1139765398.jpg

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Just found another house on my rightmove watching list for central stratford upon avon has been reduced from £265k (silly figure anyway) to £250k, new build house so I wonder if they are making a loss yet ? I'll keep you posted.

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I'd like to post a bullish anecdotal for the West Midlands. I'm assuming Leamington Spa counts?

My friend has successfully exchanged contracts on a property, where they accepted an offer at asking price, which was above what the EA recommended they sell at! All gone through withiin less than 2 months of deciding to sell!

Cash buyer, recent build, no chain. It's not all doom and gloom for you bulls! Chin up!

btp

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I'd like to post a bullish anecdotal for the West Midlands. I'm assuming Leamington Spa counts?

My friend has successfully exchanged contracts on a property, where they accepted an offer at asking price, which was above what the EA recommended they sell at! All gone through withiin less than 2 months of deciding to sell!

Cash buyer, recent build, no chain. It's not all doom and gloom for you bulls! Chin up!

btp

Must have reduced the price from recent trends for a quick sale?

According to the government figures the area is tanking with sister town Warwick down over 7% last Q for detached properties. This compares with a massive 8.2% plunge is neighboring Stratford. These kinds of corections are starting to take on a crash quality.

http://news.bbc.co.uk/1/shared/spl/hi/in_d...html/44uf.stm?d

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I've noticed in the area of coventry I'm looking there are a lot of 3 bed terraces with vacant possesion/no chain, could that be btl's bailing out?

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I've noticed in the area of coventry I'm looking there are a lot of 3 bed terraces with vacant possesion/no chain, could that be btl's bailing out?

It looks as if the olf manufacturing heartland is showing the signs of strain.

Here are some Home.co.uk figures for Coventry, arguably the epicentre of the latest wave of manufacturing decline and uncertainty. This is probably the extreme opposite end to the London situation but the picture for apartments looks desperate. The centre and its periphery are stacked with new and recent new builds that are just not selling.

Edit: sorry, I see these links do not work. If you are interested just use the house price trends facility on home.co.k

http://www.home.co.uk/guides/house_prices_...ntry&lastyear=1

Wolverhampton looks a bit poorly too:

http://www.home.co.uk/guides/house_prices_...pton&lastyear=1

Birmingham by contrast just looks to be flat-lining but that's as good as it gets in the old industrial heartland:

http://www.home.co.uk/guides/house_prices_...gham&lastyear=1

Even leafy Solihull is hardly booming, especially on apartments:

http://www.home.co.uk/guides/house_prices_...hull&lastyear=1

And neither is Leamington Spa:

http://www.home.co.uk/guides/house_prices_..._spa&lastyear=1

Edited by New Bear

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The new Q figures from the ODPM are out and the West Midlands is looking very healthy:

Overall:

NAME AV PRICE (£) QUARTER ANNUAL SALES

Herefordshire £208,672 2.2%

Worcestershire £184,936 -3.3%

Warwickshire £184,860 -3.4%

Shropshire £184,664 -3.1%

Staffordshire £161,232 -0.1%

West Midlands £146,903 0.3%

Wrekin £140,819 1.2%

Stoke-On-Trent £89,910 -5.6%

Detached:

Herefordshire £289,910 -0.9%

Warwickshire £287,775 -5.8%

Worcestershire £280,997 -1.1% 76

West Midlands £269,526 1.8%

Shropshire £255,674 -4.9%

Staffordshire £244,820 -1.9%

Wrekin £213,857 2.7%

Stoke-On-Trent £165,187 -0.1%

Semis:

Herefordshire £174,985 4%

Warwickshire £167,030 -3.8%

Worcestershire £164,374 -2.9%

Shropshire £158,522 1.5%

West Midlands £146,043 0.4%

Staffordshire £139,492 0.3% 063

Wrekin £127,044 1.2%

Stoke-On-Trent £102,149 -0.4%

Flats:

Warwickshire £131,773 -0.7%

Shropshire £125,289 -0.2%

Worcestershire £124,037 1%

West Midlands £121,757 0.7%

Herefordshire £119,682 -11.4%

Staffordshire £119,332 3.6%

Wrekin £82,346 -4.4%

Stoke-On-Trent £80,983 -16.5%

Terraced:

Herefordshire £144,776 -0.9%

Warwickshire £142,027 -3.6%

Worcestershire £140,918 -0.4%

Shropshire £140,477 -3.2%

Staffordshire £117,014 2.7%

West Midlands £116,559 -1.4%

Wrekin £101,889 -1.7%

Stoke-On-Trent £68,272 -3.2%

Stratford area detached:

Last Updated: Monday, 8 May, 2006, 16.30 GMT 17.30 UK

Warwickshire Local Authorities

Stratford-On-Avon £240,614 -6.8%

Warwick £212,130 -1.7%

Rugby £166,372 -1.0%

North Warwickshire £162,600 -6.5%

Nuneaton And Bedworth £131,300 1.5%

As you can see, almost every area in every category is DOWN. :)

More than 5% in red.

Edited by Realistbear

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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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