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music man

London Leads The Way

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I'm amazed, I've been hearing how London is doing so well and leading the country. And with Scotland and Ireland up U.K. and Wales down.

Well - London doesn't appear to be doing so well on the BBC stats.

http://news.bbc.co.uk/1/shared/spl/hi/in_d...tml/regions.stm

In England 7 areas are down for the quarter and 3 are up. The annual stats do show a different story however being a spinner this means a more severe fall than expected in recent months.

Scotland and N.I. not included, in my words here.

Edited by music man

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Seems like high end property is leading the way down. People are still buying the cheaper flats and houses. Maybe a lot of downsizing is happening at the moment. I would imagine there are more people wanting to sell their expensive properties at the top of the market than those at the bottom?

Edit: There will be quite a few boomers disappointed as the value of their properties fall. Especially as they are hoping to benefit from cashing in towards their pension. There are a lot of smug boomers out there who think there will always be someone there to buy their property when they decide to sell. However as time goes on it will become harder. Best time to sell was Spring 2005 for the UK and 2003/2004 in London!!

Edited by Shamus

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Guest Cletus VanDamme

http://news.bbc.co.uk/1/shared/spl/hi/in_d...tml/regions.stm shows greater london an annual 4.4% down and http://newsvote.bbc.co.uk/1/shared/spl/hi/...html/houses.stm shows 4.6% up.

Any reasins for this?

Don't forget that the Greater London and central London property markets are completely different beasts. In Greater London, i.e. the suburbs, prices are set to fall. Desirable central London locations are rising, and will continue to - dogbox's 8-10% increase will probably be about right.

That's my prediction anyway, based on living in and watching the central London and Greater London property markets for the past 10 years now. No matter what level of income I have been on during that time, central London prices have always been one step ahead of me.

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It is Land Reg. data- quite delayed

who cares when house prices are dropping in my city by 16.8%, or more than my salary, each year ! (ok, so I annualised the quarterly figure, but I've seen worse manipulation)

Cambridge

Average Cost: £244,585

Detached: £385,362

Semi-detached: £227,575

Terraced: £241,219

Flat: £177,287

Change in last quarter: -4.2%

Change in last year: 5.1%

Sales: 453

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Don't forget that the Greater London and central London property markets are completely different beasts. In Greater London, i.e. the suburbs, prices are set to fall. Desirable central London locations are rising, and will continue to - dogbox's 8-10% increase will probably be about right.

That's my prediction anyway, based on living in and watching the central London and Greater London property markets for the past 10 years now. No matter what level of income I have been on during that time, central London prices have always been one step ahead of me.

What is your definition of central london? inside the congestion charging zone?

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This is going to spread faster than bird flu... the newspapers wont be able to stop themselves when next quarters land-reg data posts further falls (and it will)... those poised to invest will be more inclinded to take a wait and see approach once double digit reductions become known to all...

I smell a....

C

R

A

S

H

!

- Pye

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who cares when house prices are dropping in my city by 16.8%, or more than my salary, each year ! (ok, so I annualised the quarterly figure, but I've seen worse manipulation)

Cambridge

Average Cost: £244,585

Detached: £385,362

Semi-detached: £227,575

Terraced: £241,219

Flat: £177,287

Change in last quarter: -4.2%

Change in last year: 5.1%

Sales: 453

Fantastic use of figures camem - my favorite one for last quarter on BBC site was North Norfolk, Terraces quarterly figure annualised as a 42% reduction, and breckland Terraces as -28.8%.

I have no problem with your stats at all, keep it up, great fun!!

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There will be quite a few boomers disappointed as the value of their properties fall.

You're not wrong, just looked through the figures and found the average detatched house sale in Guildford has dropped by £50k. That's in one quarter!

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  • 302 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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