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neon tetra

RM July -0.1% MoM

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Ok, so it's only back to 2015 levels, but at least stock is increasing:

 

This seems to be a trend set to continue into the summer as last month there was an 8.6 per cent jump the number of properties put up for sale, but no corresponding increase in the number of buyers - leaving estate agents with the highest proportion of homes for sale since 2015.

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Honestly, I cannot see what joy any of you are getting from this c*** data. I keep reading stuff on here about "plummeting here" and "bloodbath there" when all I am seeing is things at best getting no worse but still insanely high and the indicies backing that up.

Dinner at a plush joint is on me for anyone who can make me feel positive with figures that still show property is at least -40% over valued 🙂 

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9 minutes ago, inbruges said:

Honestly, I cannot see what joy any of you are getting from this c*** data. I keep reading stuff on here about "plummeting here" and "bloodbath there" when all I am seeing is things at best getting no worse but still insanely high and the indicies backing that up.

Dinner at a plush joint is on me for anyone who can make me feel positive with figures that still show property is at least -40% over valued 🙂 

I am not sure we will see the bloodbath you predict/want

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From The Guardian article posted above.

"In the capital, asking prices are down by 1.7% over the year and fell another 0.5% in July alone."

I know it's "asking" not actual but this fits with the areas I take an interest in (West London and thereabouts).

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8 minutes ago, hurlerontheditch said:

I am not sure we will see the bloodbath you predict/want

We definitely will see it, it’s the nature of cycles, they cannot be stopped. It is just a question of when.

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31 minutes ago, inbruges said:

Honestly, I cannot see what joy any of you are getting from this c*** data.

Yes the index is intrinsically meaningless, and yes the shift is small. However it's a shift in the right direction and is both an indicator and driver of public sentiment; which we all know is a key factor in determining prices.

As a fellow cynic I can certainly appreciate your irritation, but you have to admit that by pretty much every metric the market is finally running out of steam and they all point to us being on the cusp of a significant correction.  

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34 minutes ago, hurlerontheditch said:

I am not sure we will see the bloodbath you predict/want

I do myself at times as well

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10 minutes ago, ftb_fml said:

Yes the index is intrinsically meaningless, and yes the shift is small. However it's a shift in the right direction and is both an indicator and driver of public sentiment; which we all know is a key factor in determining prices.

As a fellow cynic I can certainly appreciate your irritation, but you have to admit that by pretty much every metric the market is finally running out of steam and they all point to us being on the cusp of a significant correction.  

That's not going to get you a plush dinner, do better 🙂 

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45 minutes ago, inbruges said:

Honestly, I cannot see what joy any of you are getting from this c*** data. I keep reading stuff on here about "plummeting here" and "bloodbath there" when all I am seeing is things at best getting no worse but still insanely high and the indicies backing that up.

Dinner at a plush joint is on me for anyone who can make me feel positive with figures that still show property is at least -40% over valued 🙂 

Being in the process of selling up and having cut our asking 12% from a little overpriced, to less than REALISED prices in our road for comparable houses, and hearing c. 5% reductions from reasonable asking from associates also selling, I am mystified by -0.1%.

Either they are lying (e.g. excluding inconvenient data) or a high proportion of those 'selling' are flying a kite at peak plus.
There should be an alternative index of SSTC prices which would give a more realistic leading indicator of where sold prices are heading.  Its almost as if some people involved in real estate want to brush substantial and sustained falls in house prices under the carpet...

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20 minutes ago, inbruges said:

That's not going to get you a plush dinner, do better 🙂 

Best I can do I'm afraid - I'll settle for a decent bag of fish and chips and a can of Tennent's Super...?

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5 minutes ago, ftb_fml said:

Best I can do I'm afraid - I'll settle for a decent bag of fish and chips and a can of Tennent's Super...?

The day we get -30 plus falls I will take this whole thread of posters out for a fish and chip slap up 🙂 

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19 minutes ago, hotblack42 said:

Either they are lying (e.g. excluding inconvenient data) or a high proportion of those 'selling' are flying a kite at peak plus.

As 0.1% refers to Original ASKING price reported by a balls-deep VI, it is at best, and being charitable, a direction of travel, should you believe in the data.

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May I join the queue?

I suspect -30% would mean you could buy a lot of fish & chips for the debt you wouldn't otherwise have to take on.

I don't even know what the current average in UK is ... upwards of 200k IIRC. (not knowing this is probably herecy for being a poster in this forum). 30% of that is obviously 60k. Or 6000 units of 10 GBP 'slap up' fish &chips. And then there is the interest on that money too.

Heck, you could probably pay to have it delivered to the posters individually and still come out better than breaking even ...

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10 minutes ago, inbruges said:

The day we get -30 plus falls I will take this whole thread of posters out for a fish and chip slap up 🙂 

Just registering my interest in free fish and chips lol

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2 hours ago, inbruges said:

Honestly, I cannot see what joy any of you are getting from this c*** data. I keep reading stuff on here about "plummeting here" and "bloodbath there" when all I am seeing is things at best getting no worse but still insanely high and the indicies backing that up.

Dinner at a plush joint is on me for anyone who can make me feel positive with figures that still show property is at least -40% over valued 🙂 

Everything I see selling is going for over 10% off asking. The disconnect in sellers brains is still there - that will disappear with reality. 

Also East of England down 1.1 MoM - that's an interesting ripple effect.

Edited by Maynardgravy

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20 minutes ago, Maynardgravy said:

Everything I see selling is going for over 10% off asking. The disconnect in sellers brains is still there - that will disappear with reality. 

Also East of England down 1.1 MoM - that's an interesting ripple effect.

Still not even close for a good slap up dinner 🙂  But good news about London, something is happening there, but lets face it, even a -20% fall there over night would still leave prices insane. East of England is of interest to me, Suffolk, South Cambs

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3 hours ago, inbruges said:

East of England is of interest to me, Suffolk, South Cambs

Then all is not lost. This area has suffered as much as any at the hands of the London ripple. The tide is going out.

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  • 225 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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