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Hi Folks,

I've run an interim current asking price index for Property Lion for October.

So, do you want the bad news, or the bad news ?

I was not expecting these results based on the drops I am seeing but....

Current Average asking prices: +2.55% MOM !!!  

Average price: £441,637 up from £430,260, this is a new all time high.

Number of listings: Down 10%

I'll do a separate post for each region.

 

 

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You are not putting EWS1 flats in the mix, the number of flat sales that have fallen through because people cannot get mortgages.

Some people have been forced to stop spending, so not buying that Costa or going on holiday, I Purchased a 16" MacBook pro  last month, Yesterday i purchased a Iphone 12 for the wife, i am flush with cash.

I saved £5K not going on holiday, and probably another £300 per month on sundries

My finances have never looked so healthy.

I am actually getting value out of Netflix, i used it so much now.

Edited by shlomo
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You are not putting EWS1 flats in the mix, the number of flat sales that have fallen through because people cannot get mortgages.

Some people have been forced to stop spending, so not buying that Costa or going on holiday, I Purchased a 16" MacBook pro  last month, Yesterday i purchased a Iphone 12 for the wife, i am flush with cash.

I saved £5K not going on holiday, and probably another £300 per month on sundries

My finances have never looked so healthy.

I am actually getting value out of Netflix, i used it so much now.

I wish I could say otherwise but the numbers dont lie.

It might be a statistical anomaly due to the madness of what is going on or maybe it's because all the low end sellers have pulled the plug or sold leaving the kite fliers.

I was not expecting this, it's carnage in some areas esp London.

Dont shoot the messenger .

Maybe 0.1% IRs and £850Bn to hand out to idiots willing to buy is more powerful than the economy collapsing.

Furlough to be extended, more magic money to hand out.  These ****s are evil

Edited by TheCountOfNowhere
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Asking prices are a lie. They are meaningless.

Incidentally my street has a ridiculous numbers of properties for sale.

You can say that but people pay them.  The government is supporting them with more magicked up cash.

Estate agent chains are owned by banks and building societies willing to lend at these prices.

We are in for one hell of a collapse in the UK.

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You can say that but people pay them. 

Average asking and selling prices are very different. People are now being refused mortgages.

I did a quick check, 15 properties for sale on my street out of about 150. In 2020 4 were sold. One neighbor told me he wanted to sell at the top of the market and get out due to perceived high demand.

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Asking prices are a lie. They are meaningless.

Incidentally my street has a ridiculous numbers of properties for sale.

Just walked around Surbiton and had a flashback to my childhood where the news used to feature streets with 'for sale' signs outside every property as far as the eye could see.

Admittedly this was the part without nice big gardens (which seem to have benefitted from the PCL exodus), but still.

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  • 439 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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