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echo3

Seasonally Adjusted, My A*#e

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so nationwide reckon prices went up 1.4% in January?

Yet the houses I've been watching are all asking less now than before Xmas. Some are big reductions too (like £155K down to £142. Is there massive regional variations, or have they fudged the figures?

And transaction volumes are down 14%?

Baffling.

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so nationwide reckon prices went up 1.4% in January?

Yet the houses I've been watching are all asking less now than before Xmas. Some are big reductions too (like £155K down to £142. Is there massive regional variations, or have they fudged the figures?

And transaction volumes are down 14%?

Baffling.

Whatever, look's like predictions for no spring bounce were wrong. But dont worry, the housing report thing is out this spring.

I am sure that Mr Blair will use that to institute a sweeping reform of the planning process and discourage second homes and buy to let.

Stop laughing, breathe, dry eye's,

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House prices in Swindon are sinking slowly. In the paper I am seeing the same houses sticking. The smarter people are reducing by 5-10% - how is this a 1.4% rise?

These figures are fudged by using the North (Scotland etc) - its easy to see.

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so nationwide reckon prices went up 1.4% in January?

Yet the houses I've been watching are all asking less now than before Xmas. Some are big reductions too (like £155K down to £142. Is there massive regional variations, or have they fudged the figures?

And transaction volumes are down 14%?

Baffling.

The front page of my local property guide had an article yesterday stating that property prices will rise by 100% over the next 10 years...

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my local property guide

.....is funded by advertising from Estate Agents. They wouldn't get many EAs re-advertising if they lead with an article of an impending house price crash.

e3

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I just can't believe it. Got pummelled by my staff at work today who know my bearish views.

Perhaps housing transactions will just take place amongst a relatively small group of people who have managed to get on the housing ladder and the only FTBs will be those who inherit from parants dying.

I'm totally fed up and just feel like throwing in the towel.

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Well, if you were the Nationwide, what would you report for the first set of figures showing how 2006 got started?

This is making the lives of EAs round here a misery. It must be, prices holding firm for the 3rd year on the market or being reduced time and time again, while I have actually seen a couple of "sensibly priced" local properties (literally) sell in the last few months - and that's a huge increase in the number of sales - other vendors are just giving up or changing EAs (or going multi agent) - after all, if prices are going up, it must be the EA's fault that they can't get any viewings. What else could it be?

What a waste of the EA's time, and probably why we've been asked to redesign an Estate Agent's website due to the "state of the market" (his words, not mine) - I won't say where specifically, but it's in London.

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Home Information Packs are not enforced till 2007 - although I do believe they CAN start using them this summer?

Anyone confirm this?

TB

HIPs live in 2007 (June I believe)

There are supposed to be trials in some regions THIS summer, but even the Council of Mortgage Lenders is chasing the Government for a detailed timetable. (See news story from CML blogged on Tuesday)

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I am sure that Mr Blair will use that to institute a sweeping reform of the planning process and discourage second homes and buy to let.

Not sure if that's a joke or not, but anyway Labour are committed to promoting property investment and buy to let. No chance of changing their policy and discouraging it.

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so nationwide reckon prices went up 1.4% in January?

Yet the houses I've been watching are all asking less now than before Xmas. Some are big reductions too (like £155K down to £142. Is there massive regional variations, or have they fudged the figures?

And transaction volumes are down 14%?

Baffling.

Yup, the ones reducing prices are doing so because they are not selling..

Also if you peer back through the archives you will see that most press organisations are reporting different figures weekly as fact..

Who knows...?

Reuters story that house prices didn't rise as fast as inflation is very bearish as it shows that prices are heading down..

But next week they may have a different report that prices are rising at 10%..

None seem to want to make headlines of any index showing price drops..

So who knows what is going on?

People who read the media?

Or people who watch carefully what is going on around them..?

I would lean toward number two..

Lazy reporting is taking differnt figures that contradict each other and never asking why?.. only reporting each as an individual factual story of the current state of the market..

But the market crash has been reported... and how many markets have not crashed after that?

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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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