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HM House Price stats Jun 2019


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Commenting on the latest inflation figures, Tomer Aboody, director of property lender MT Finance, says that house sales volumes are unlikely to change until a decision is made about what kind of Brexit the UK will have. Once there is a decision, the "pent-up" demand will be released.

"Whether it is hard, soft, or no Brexit, the important thing is that a decision is made so people can get on with things," he said.

He said that although on average, prices have fallen only slightly in London, if you look at the bigger picture, house prices at the top end of the market have come off by between 10-15%.

"If we have a hard Brexit and the pound is badly affected, foreign buyers will come back into the market as they will be buying 20 or 30% off market value with a much stronger euro, dollar or yen against the pound. This is likely to push volumes and values up."

 

Release the Kraken!

Edited by hurlerontheditch
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Local authorities 01/06/2019 01/06/2018 Difference
Reading £293,291 £303,127 -3.20%
Slough £280,473 £306,234 -8.40%
Windsor and Maidenhead £462,748 £495,274 -6.60%
       

 

But crossrail was going to save the world?

And now Slough is cheaper (at least in headline terms) than Reading - despite being "20 mins" from centre of London.

Edited by Aidan Ap Word
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1 hour ago, Aidan Ap Word said:
Local authorities 01/06/2019 01/06/2018 Difference
Reading £293,291 £303,127 -3.20%
Slough £280,473 £306,234 -8.40%
Windsor and Maidenhead £462,748 £495,274 -6.60%
       

 

But crossrail was going to save the world?

And now Slough is cheaper (at least in headline terms) than Reading - despite being "20 mins" from centre of London.

the ripples spread! wider SE now infected by the london crash

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I found this table interesting:

Property type June 2019 June 2018 Difference
Detached £376,187 £369,449 1.8%
Semi-detached £232,844 £228,872 1.7%
Terraced £199,951 £197,758 1.1%
Flat or maisonette £221,164 £227,383 -2.7%
All £246,728 £244,962 0.7%

So house prices are rising slightly but flat prices falling more sharply - an indication of people selling off (or not buying) BTL flats perhaps...?

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19 minutes ago, scottbeard said:

I found this table interesting:

Property type June 2019 June 2018 Difference
Detached £376,187 £369,449 1.8%
Semi-detached £232,844 £228,872 1.7%
Terraced £199,951 £197,758 1.1%
Flat or maisonette £221,164 £227,383 -2.7%
All £246,728 £244,962 0.7%

So house prices are rising slightly but flat prices falling more sharply - an indication of people selling off (or not buying) BTL flats perhaps...?

That makes a lot of sense. Esp if foreign investors are realising gains and pulling out of the UK.

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3 hours ago, Aidan Ap Word said:

But crossrail was going to save the world?

And now Slough is cheaper (at least in headline terms) than Reading - despite being "20 mins" from centre of London.

Slough ranked best place to live in the UK, people seem to be voting with their feet

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29 minutes ago, Freki said:

This one is good too:

image.png.0323754f996639d3726c48631429f3b4.png

New build is dropping nicely in London

So not even Help To Buy has helped support prices? Investors must be getting nervous. Lots of developments are still to be finished around my way (West London). 

Right. Must now go and wash my hands having typed HTB...

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I see Norwich is falling and Norfolk eeking out a small gain.

Plays out with what i am seeing

NR2 and NR4 went nuts a year or so ago with some crazy prices paid by incoming Londoners.

I then moved my search to NR13/Nr12 and given my perfect timing the surge followed me and became silly also.

I now see that prices are heading down in NR2/NR4 and in some aspects (rental/nearer city) is better value where I am looking in NR 12/13 which is now stagnant but with asking prices still in denial and chronic lack of homes for sale.

I would rather buy a 4 bed house near my work but I would have to reconsider when its a 4 bed on Branksome rd/Eaton rd/Colney Lane vs a 500k 4 bed in Neasithead

 

Edited by Fromage Frais
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6 hours ago, Aidan Ap Word said:
Local authorities 01/06/2019 01/06/2018 Difference
Reading £293,291 £303,127 -3.20%
Slough £280,473 £306,234 -8.40%
Windsor and Maidenhead £462,748 £495,274 -6.60%
       

 

But crossrail was going to save the world?

And now Slough is cheaper (at least in headline terms) than Reading - despite being "20 mins" from centre of London.

 

4 hours ago, Sausage said:

the ripples spread! wider SE now infected by the london crash

The sure do. I wonder when the fall in Slough prices will reverse (perhaps only after the crash is complete) and then there is a possibility that the falls will have stopped washing through ... ?

On the road this is one thing ... but odd that in terms of time-on-train-into-London they are pretty much in equal steps (the Windsor->Slough Train is a twice hourly affair taking approx. 15 mins (includingchange times) ... at least it used to be when I used it.

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This surprised me - Manchester is in the middle of the mother of all bubbles, but it still seems to be ever-growing. Mind you, there have been a lot of new build flats.

 

Manchester £176,312 £177,297

-0.6%

 

And volume significantly down too - hopefully, there'll be a bloodbath and normality will return.

 

Apr 2019   vs Apr 2018

 

Manchester 466 540
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13 hours ago, dpg50000 said:

This surprised me - Manchester is in the middle of the mother of all bubbles, but it still seems to be ever-growing. Mind you, there have been a lot of new build flats.

 

Manchester £176,312 £177,297

-0.6%

 

And volume significantly down too - hopefully, there'll be a bloodbath and normality will return.

 

Apr 2019   vs Apr 2018

 

Manchester 466 540

Manchester is off the scale. I used to work in Didsbury recently and could not believe prices there. Not a single reason to justify that other than mania. 

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23 hours ago, Aidan Ap Word said:
Local authorities 01/06/2019 01/06/2018 Difference
Reading £293,291 £303,127 -3.20%
Slough £280,473 £306,234 -8.40%
Windsor and Maidenhead £462,748 £495,274 -6.60%
       

 

But crossrail was going to save the world?

And now Slough is cheaper (at least in headline terms) than Reading - despite being "20 mins" from centre of London.

Have you ever been to Slough?

It most certainly should be cheaper than Reading!

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35 minutes ago, bubbleturbo said:

Have you ever been to Slough?

It most certainly should be cheaper than Reading!

Yes. Worked there for several years. And then several years later I lived in Maidenhead. I know "the poem" well. Also: the best thing about Slough is the back of the "Welcome to Slough" sign.

Also: I think the Slough prices may include the prices for Farnham Common - which is a very un-Slough experience.- and some of the Farnham Royal prices too (and ti turns out Royal is not as POSH as Common, either - how weird is that?).

That and it's proximity to London I think will have driven prices. And, possibly, Slough was a haven (though not heaven) for BTLers.

And Slough being the centre-point of the London pinnacle of the M4/M40 corridor.

But walking the streets of Slough you would be reminded that Reading is way nicer.

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Volumes are interesting (and tiny!)

In my local LA (Kingston upon Thames) there were 128 sales in April, which isn't very many, especially in view of how many estate agents there are in the borough!

Annual transactions are only 56% of the level of 2001-5 apparently.

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15 hours ago, worried1 said:

Annual transactions are only 56% of the level of 2001-5 apparently.

Which is the "normal" rate though?  

2001-5 when prices were rocketing and people flipping houses, stocking up on BTLs etc

Or now, when people only move house if they really really need to?

Perhaps somewhere in the middle.

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1 hour ago, scottbeard said:

Which is the "normal" rate though?  

2001-5 when prices were rocketing and people flipping houses, stocking up on BTLs etc

Or now, when people only move house if they really really need to?

Perhaps somewhere in the middle.

I'm not sure there is anything normal about the market anymore. We used to have boom/bust, now we seem to have boom/stagnation. 

Prices are on their way down in some areas, but a lot of areas seem stable so far, even in the 'inner-SE'. Kingston has recorded one of the biggest falls in 2018/19, but we can't tell if that will continue or just stagnate.

The EAs seem to have opened offices based on the 2001-5 levels of demand. There certainly wasn't three branches of Foxtons in the borough back then, and Dexters didn't occupy three shopfronts on the same street as they do now. Interesting times ahead for them, how long can they survive on these volumes after the prolonged phase of getting money thrown at them for doing virtually nothing.

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1 hour ago, worried1 said:

I'm not sure there is anything normal about the market anymore. We used to have boom/bust, now we seem to have boom/stagnation. 

Prices are on their way down in some areas, but a lot of areas seem stable so far, even in the 'inner-SE'. Kingston has recorded one of the biggest falls in 2018/19, but we can't tell if that will continue or just stagnate.

The EAs seem to have opened offices based on the 2001-5 levels of demand. There certainly wasn't three branches of Foxtons in the borough back then, and Dexters didn't occupy three shopfronts on the same street as they do now. Interesting times ahead for them, how long can they survive on these volumes after the prolonged phase of getting money thrown at them for doing virtually nothing.

Welcome to a manipulated market.

Just like the economy in a banana republic where the cronies of the president get bailed out when they balls up.

Nobody else can afford to play as the prices are too high so you have the same people who cannot sell but can afford to sit there waiting for the next free cash handout.

Handout given..... prices rise tout suite to the new level and then stagnate again.....rinse and repeat.

The result falling ownership discontent and a revolution of some kind down the road. 

A smart politician should push credit and increase cost of carry on asset owners to manage a decline.

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