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ICTOA

Worcestershire/gloustershire Asking Prices

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Hi,

I've been monitoring the asking price of houses in post codes WR10, WR11, WR8, WR7, WR1, WR2, WR3 and GL20, a total of around 1350 houses over the last few months - here are the changes in asking prices for houses with 1-4 bedrooms over the last 11 weeks:

price_change.jpg

(note: the number of times I've captured the data varies by week.)

I have all the data in an Access DB, if anyone is interested in any other views on the data, let me know...

- ICTOA

post-3235-1138467256.jpg

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Nationwide reported an almost 5% drop in 2005 for Wychavon district which includes WR11 post code. In my area we are seeing falls of around 10-20k for larger detached houses. Property on the market over a year and just a few sold but STC. Might see that trend continue with another 5-10% down by Spring.

Edited by Realistbear

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Asking prices for property above £500K are moving downwards slowly. Only fairly priced stuff is shifting - but for nothing like asking prices. Most properties in this range have been on for 6+ months. Knight Frank have one that is just about to hit 2 years on the market.

There is just one exception - Andrew Grant have a property on at £750k that any other agent would list for £895k+. It is lovely and I'm sure it will sell.

Knght Frank took about £50k each off a dozen or so properties so far this month.

The other Worcester agents have all trimmed the prices on some of their properties - typical reduction seems to be about £30-50k. But huge variation in prices and still plenty of vendors 'trying it on'...

E.g

'farmhouse' listed with agent 'JS' for £795k. It is tiny. Sticks on the market for ages.

After no success introduces another agent and price re-listed to £750k this week.

Still massively overpriced - was speaking to another agent about it who tells me they valued it at £650k...

Yet Nethouseprices will show that the neighbouring property (a real farmhouse) went for £625k in July 2005.

I'm sure there are plenty of gullible buyers out there who will jump in now because of these reductions... but Worcester is nowhere close to being affordable for most of its residents.

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Updated graph for the last week or so, this time the virtical axis is % Price Change :

price_change.jpg

I've managed to forget to put the key on the graph, the lines from bottom up are 1,2,3,4 bed properties... hope this makes sense.

post-3235-1139950308.jpg

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gl20 is of interest to me ( as you can imagine) what ive witnessed is a increase in flat prices, and even 1 +2 bed houses going from 120K to 130K+ on some of them. Couple of flats up for sale one of which is 115K (had to laugh at that).

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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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