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Oliver Sutton

Halifax -0.6% (expected +0.2%)

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Nice change.

Quote


• Prices in the last three months to January were 2.2% higher than in the same three months a year earlier, although the annual change in January was lower than in December (2.7%)

• House prices remained unchanged in the recent quarter (November-January) from the previous quarter

 

https://static.halifax.co.uk/assets/pdf/mortgages/pdf/January-2018-House-Price-Index.pdf

Edited by Oliver Sutton

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51 minutes ago, stuckmojo said:

A minus is a minus :)

 

Also "sharp fall in mortgage approvals". I'd love to see the application/approvals ratio. Can this be found anywhere? 

 

yeah, its inverse

 

they've started approving mortgages to passing shoppers who thought they were signing up to save the local cats home

 

DEBTpushers gonna push DEBT

 

Edited by thewig

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4 minutes ago, Does Commute Abit said:

The action starts when its realised there will be no spring bounce this year.............

In the hunt for survival, estate agents will have to guide sellers to prices that lock in drops. If spring provides any volume at last, the outcome is inevitable.

I'm seeing stories of chains falling apart and even more mortgage valuation problems for now, but the pace should pick up quickly over the next few months.

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12 minutes ago, darkmarket said:

In the hunt for survival, estate agents will have to guide sellers to prices that lock in drops. If spring provides any volume at last, the outcome is inevitable.

I'm seeing stories of chains falling apart and even more mortgage valuation problems for now, but the pace should pick up quickly over the next few months.

Very true.

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9 hours ago, neon tetra said:

Very true.

Recent experience in my area. A house I viewed 4 months ago that went under offer within a week or so has just come back on the market. Same price as previously although I know the offer they accepted was below asking price.

Another house I viewed went under offer after first weekend in October and was back on the market in December as buyer couldn’t find a buyer for their house. This house has just gone back to sold this week. Will be interesting to see if it goes through this time. 

Another couple of houses I viewed that seemed overpriced compared to others were on the market since October and now seem to have quietly disappeared from Rightmove. 

This is in a very desirable area popular with ex-Londoners. 

 

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3 minutes ago, When??? said:

Recent experience in my area. A house I viewed 4 months ago that went under offer within a week or so has just come back on the market. Same price as previously although I know the offer they accepted was below asking price.

Another house I viewed went under offer after first weekend in October and was back on the market in December as buyer couldn’t find a buyer for their house. This house has just gone back to sold this week. Will be interesting to see if it goes through this time. 

Another couple of houses I viewed that seemed overpriced compared to others were on the market since October and now seem to have quietly disappeared from Rightmove. 

This is in a very desirable area popular with ex-Londoners. 

 

(London) Luton?

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8 hours ago, When??? said:

Recent experience in my area. A house I viewed 4 months ago that went under offer within a week or so has just come back on the market. Same price as previously although I know the offer they accepted was below asking price.

Another house I viewed went under offer after first weekend in October and was back on the market in December as buyer couldn’t find a buyer for their house. This house has just gone back to sold this week. Will be interesting to see if it goes through this time. 

Another couple of houses I viewed that seemed overpriced compared to others were on the market since October and now seem to have quietly disappeared from Rightmove. 

This is in a very desirable area popular with ex-Londoners. 

 

Wish I could say the same for the areas I'm familiar with, mainly Derbyshire, Stockport and North Wales and Anglesey... anything even vaguely sensibly priced (i.e 2007 prices) is getting snapped up in days, even overpriced ones are selling reasonably quickly. It's only the really stupidly overpriced ones that are hanging around for any length of time.

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2 hours ago, nome said:

Wish I could say the same for the areas I'm familiar with, mainly Derbyshire, Stockport and North Wales and Anglesey... anything even vaguely sensibly priced (i.e 2007 prices) is getting snapped up in days, even overpriced ones are selling reasonably quickly. It's only the really stupidly overpriced ones that are hanging around for any length of time.

However, in this area prices have sky rocketed since 2007 (doubled in many cases) so a long way to fall to even look anything like value. I think houses prices are something like 18x local incomes, it’s all London money and those already “on the ladder” driving the increases.

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20 hours ago, When??? said:

However, in this area prices have sky rocketed since 2007 (doubled in many cases) so a long way to fall to even look anything like value. I think houses prices are something like 18x local incomes, it’s all London money and those already “on the ladder” driving the increases.

I actually think it's London money that has driven the recent ''hotting up'' of the market in the areas I've mentioned... unless it's just coincidence that houses have started flying off the shelves in these areas at just the same time that the London market is stalling/falling.

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2 minutes ago, TonyJ said:

Surely the London money mostly dried up a while ago. Why are prices still not falling outside London?

They are truly dropping here in sunny east Berkshire Mr J. Over half the properties I look at have now reduced their prices over the last several months and some by pretty meaty amounts. Driving through Maidenhead the other day there are loads and loads of for sale signs, reminiscent of 2007.

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2 hours ago, TonyJ said:

So really it just the MSM that is hopelessly out of date, still reporting boom times in the news, when the bubble has already burst. Problem is that most people believe the MSM and are therefore feeling secure in the knowledge that their house would easily sell tomorrow for a fortune - so any stories they hear about prices falling do not apply to them if or when they come to sell.

This dawning realisation is only just hitting the London 'burbs. In Harrow, everyone seems to have reduced 3-4 bed semis by the same ~5%, still not selling and everyone is hanging around in  a Mexican stand-off. Once the first capitulations start to happen - POW!

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Interestingly my quick glance and the expensive Avenue in wroxham has gone negative on Zoopla. (I watch this area as its near me and plunged last crash).

https://www.zoopla.co.uk/house-prices/wroxham/the-avenue/?q=the avenue wroxham&search_source=house-prices

-.087% 12 months

-.2.87% 6 months (bam)

-0.52% 3 months

It holds true to the feeling that not much is shifting aside to the false hope of the odd looney from London coming in a buying.

if the 6 monthly figure was true they are falling over 1000£ a month if they started at 500K

Asking prices are naturally zoopla + 100k so i can only imagine if the reality is nearer the zoopla figure.

If you house was actually worth 500k in jan and you paid for 600k in 12 months means that at current speed you could have paid 600k costs for a house worth (a still hefty) £475,000.

Thats a 20% loss before you even start so be carful Home counties Mugs :-)

Thats literally just back to last sold price so the house price boom around here is mostly an asking price boom.

 

Edited by Fromage Frais

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  • 407 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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