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@UKPropertyLion Current Asking Price Index: October 2020


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I don't think I would believe what I am about to post if it wasn't for the fact I'm the person who generates the numbers!!!

I was convinced we be seeing a big drop in some regions this month.

 

However, current average asking price for all properties listed on rightmove:   £430620

 

Up 6.8% year on year !!!!

Up 4.1% quarter on quarter !!!!

Up 1.4% month on month !!!!

Up 8.2% since Rishi Sunak brought in the stamp duty holiday !!!! :lol: 

 

The big news though is that the number of listings for London has surged 8% in a month, up 25% year on year, up 28% for the quarter and up 50% since stamp duty was abolished !!!

South East listings also up around 2%

London and the S.E. account for approx 30% of all properties listed for sale, the surge in listings and high average prices skews the numbers considerably  

Not sure how this can be averaged out but a few postcodes in the UK moves the index up massively.

Not one for conspiracy theories but current asking prices were in a down trend before CV19 :lol: 

The regional figures are more indicative on what is going on, I'll post them below....

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Posted (edited)

London

Down -0.26% MoM

Down -4.76 QoQ

Down -1.91 % YoY

Down -6.14 since Rishi Sunak brought in the state duty holiday.

Number of Listings

Up 8.26% MoM,

Up 28.55% QoQ

Up 24.47% YoY

Up 49.68% since Rishi Sunak brought in the state duty holiday.

Edited by TheCountOfNowhere
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There you have it folks. London/South East/South West/East Mids/West Mids/East England/Northern Ireland all look to be turning down while the impoverished parts of the country are seeing price rises.

 

Couldn't make that up !!!!

 

Im a bit shocked that prices are holding up.

 

Dont shoot the messenger.  

These figures are more positive than you think, esp with London going down the s**ter.

Everywhere south of Brum has turned and the cheaper housing stock up north is being snapped up by savvy investors....

I had hoped this quarter would have shown some big falls but the British people really do not want more affordable housing.

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Places seem to be actually selling for  crazy amounts round my way. 

People are shaking their heads and saying everyone's getting out of London.  Don't know how true that is, but would make sense. 

Is there some fear that's driving people to leave London?  Plague?

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Places seem to be actually selling for  crazy amounts round my way. 

People are shaking their heads and saying everyone's getting out of London.  Don't know how true that is, but would make sense. 

Is there some fear that's driving people to leave London?  Plague?

You've missed the point here.... People cant sell in london...listings going up... Prices going down. 

There will be a few lucky movers who get out and massively over pay for a house in the shires.

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9 hours ago, TheCountOfNowhere said:

London

Down -0.26% MoM

Down -4.76 QoQ

Down -1.91 % YoY

Down -6.14 since Rishi Sunak brought in the state duty holiday.

Number of Listings

Up 8.26% MoM,

Up 28.55% QoQ

Up 24.47% YoY

Up 49.68% since Rishi Sunak brought in the state duty holiday.

@TheCountOfNowhere😁Looks good to me. 💯Thanks for the data, Count! 😁

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So are we now in agreement there won’t be a crash!? I mean... we could experience a stagnant market when sales are down and we will see some properties sell notably lower than in recent years, but at the same time we see people ‘with money’ continuing to spend big on other properties.

I do see a lot of properties near me in Scotland stuck on the market, but then every other day something above historic ceiling prices appears and sells instantly!!

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Count, thank you for the excellent work, much appreciated.

I live in central Cornwall, house at the end of my street has been SSTC for 6 months.

Friend trying to sell in East Devon, has been SSTC since Christmas.

Think the Wily E Coyote moment is coming soon.

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You've missed the point here.... People cant sell in london...listings going up... Prices going down. 

There will be a few lucky movers who get out and massively over pay for a house in the shires.

Yes, the ones that have managed to sell in London appear to be pushing UP prices in the shires ( disappointingly).

Can't imagine that's going to work for long. Like one end of a boat going up (for a while) as the other end sinks. 

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So are we now in agreement there won’t be a crash!? I mean... we could experience a stagnant market when sales are down and we will see some properties sell notably lower than in recent years, but at the same time we see people ‘with money’ continuing to spend big on other properties.

I do see a lot of properties near me in Scotland stuck on the market, but then every other day something above historic ceiling prices appears and sells instantly!!

Nah... Lots of stuff going under offer in and around Dundee atm, but the true cost of Covid hasn't begun to hurt yet. Wait until the reduction in furlough payments start to bite, closures REALLY start to pick up speed (all those 2nd incomes disappearing) and rents stop getting paid. THEN the pain will start. I truly pity any FTB, or anyone trading up, who buys this year. I know, I know, they only have themselves to blame...

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Yes, the ones that have managed to sell in London appear to be pushing UP prices in the shires ( disappointingly).

Can't imagine that's going to work for long. Like one end of a boat going up (for a while) as the other end sinks. 

It's like a tsunami of money that came out from London, when the money retreats it'll leave carnage in it's wake

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  • 433 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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