rantnrave Posted August 31, 2022 Share Posted August 31, 2022 (edited) https://propertyindustryeye.com/house-prices-are-plummeting-new-figures-show/ Edited August 31, 2022 by rantnrave Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 31, 2022 Share Posted August 31, 2022 19 minutes ago, rantnrave said: https://propertyindustryeye.com/house-prices-are-plummeting-new-figures-show/ "So why are asking prices starting to fall across all UK regions (save Northern Ireland)? There is one main answer to this question and that is consumer confidence being low. " that and mortgages going through the roof, though, they dont mention that. 2nd hand house salesmen must be the most despicable, pointless, useless "industry" known to man, these ****s have been well rewarded by the bankers/politicians for what is effectively an unproductive, low IQ job ( i guess that's why they go along with it, thick as 2 short planks ) that offers nothing to society. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 31, 2022 Author Share Posted August 31, 2022 EAs of course being the last people on the planet to in any way suggest prices are falling... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 31, 2022 Share Posted August 31, 2022 7 minutes ago, rantnrave said: EAs of course being the last people on the planet to in any way suggest prices are falling... I thought that was the BBC Quote Link to comment Share on other sites More sharing options...
Orb Posted August 31, 2022 Share Posted August 31, 2022 11 minutes ago, rantnrave said: EAs of course being the last people on the planet to in any way suggest prices are falling... They're the property market's equivalent to the fat lady, and the music has now stopped 🙂 Quote Link to comment Share on other sites More sharing options...
Nomadd Posted August 31, 2022 Share Posted August 31, 2022 44 minutes ago, rantnrave said: https://propertyindustryeye.com/house-prices-are-plummeting-new-figures-show/ ..led by inner London where they have dropped by 10.4% in the last two months, representing a loss of £82,000 in average listing prices, new research from TwentyEA shows. 👍 Quote Link to comment Share on other sites More sharing options...
Lord D'arcy Pew Posted August 31, 2022 Share Posted August 31, 2022 Quote Link to comment Share on other sites More sharing options...
highcontrast Posted August 31, 2022 Share Posted August 31, 2022 45 minutes ago, Nomadd said: ..led by inner London where they have dropped by 10.4% in the last two months, representing a loss of £82,000 in average listing prices, new research from TwentyEA shows. 👍 Crashy Crashy. Quote Link to comment Share on other sites More sharing options...
wighty Posted August 31, 2022 Share Posted August 31, 2022 In the SE areas where I'm looking, prices have often been reduced from utterly ridiculous overpriced to just ridiculously overpriced, this reducing average asking prices. Maybe they'll reach just overpriced in the near future, but don't count on it. Anything reasonable value goes quick and often over asking. Those won't affect average asking prices. Quote Link to comment Share on other sites More sharing options...
TheResponsibleHouseBuyer Posted August 31, 2022 Share Posted August 31, 2022 41 minutes ago, highcontrast said: Crashy Crashy. Ffs... why cant it be outside London. That place is already overinflated to mars (where other places are inflated to the moon). Need crashy crashy a bit further outside London please. Quote Link to comment Share on other sites More sharing options...
TheResponsibleHouseBuyer Posted August 31, 2022 Share Posted August 31, 2022 Just now, wighty said: In the SE areas where I'm looking, prices have often been reduced from utterly ridiculous overpriced to just ridiculously overpriced, this reducing average asking prices. Maybe they'll reach just overpriced in the near future, but don't count on it. Anything reasonable value goes quick and often over asking. Those won't affect average asking prices. Yeah I'm in the same area. As soon as prices get reduced to near end of 2021 levels, people start bidding wars. Or EAs are putting it down deliberately then doing 'offers over'. In theory that means asking prices down but the actual bidding price/agreed price will be higher. They don't seem to budge on this. People are still buying here wtf! Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted August 31, 2022 Share Posted August 31, 2022 Quote “Over the last five years, London prices [despite the recent falls] have still risen 11.6% [or £80,000], so this does put the recent drop into perspective. That's actually quite a chunky real terms drop Quote Link to comment Share on other sites More sharing options...
cnick Posted August 31, 2022 Share Posted August 31, 2022 2 hours ago, TheCountOfNowhere said: "So why are asking prices starting to fall across all UK regions (save Northern Ireland)? There is one main answer to this question and that is consumer confidence being low. " that and mortgages going through the roof, though, they dont mention that. 2nd hand house salesmen must be the most despicable, pointless, useless "industry" known to man, these ****s have been well rewarded by the bankers/politicians for what is effectively an unproductive, low IQ job ( i guess that's why they go along with it, thick as 2 short planks ) that offers nothing to society. Yes but to be fair, they are but an effect of the 'actions' of the politico-bankers? Quote Link to comment Share on other sites More sharing options...
TerryBoi Posted August 31, 2022 Share Posted August 31, 2022 29 minutes ago, PropertyMania said: That's actually quite a chunky real terms drop Yep, quite impressive. And is anyone going to give some kudos to Bailey? He's managed to engineer the start of the crash without even raising rates. Powell had to pump the FFR up nearly 250 bps to get the same effect. By taking it slow Bailey now has the luxury of really being able to turn on the pain as we move into winter. Quote Link to comment Share on other sites More sharing options...
satsuma Posted August 31, 2022 Share Posted August 31, 2022 2 hours ago, TheCountOfNowhere said: "So why are asking prices starting to fall across all UK regions (save Northern Ireland)? There is one main answer to this question and that is consumer confidence being low. " that and mortgages going through the roof, though, they dont mention that. 2nd hand house salesmen must be the most despicable, pointless, useless "industry" known to man, these ****s have been well rewarded by the bankers/politicians for what is effectively an unproductive, low IQ job ( i guess that's why they go along with it, thick as 2 short planks ) that offers nothing to society. Northern Ireland has not been hit as badly by Brexit as they told the tories to sod off. So they can still trade with Europe. Also, prices were very low in many towns there plus many people are returning to avail of work from home and cheap housing + less competition for school places and hospital beds. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 31, 2022 Share Posted August 31, 2022 1 minute ago, satsuma said: Northern Ireland has not been hit as badly by Brexit as they told the tories to sod off. So they can still trade with Europe. Also, prices were very low in many towns there plus many people are returning to avail of work from home and cheap housing + less competition for school places and hospital beds. United Ireland is inevitable I think now. Quote Link to comment Share on other sites More sharing options...
Cocha Posted August 31, 2022 Share Posted August 31, 2022 1 minute ago, satsuma said: Northern Ireland has not been hit as badly by Brexit as they told the tories to sod off. So they can still trade with Europe. Also, prices were very low in many towns there plus many people are returning to avail of work from home and cheap housing + less competition for school places and hospital beds. We can still trade with Europe and indeed the EU. I do it on a weekly basis. My EU suppliers even hide their massive contempt/sympathy/hilarity (depending which remainer you talk to) towards me which is really nice of them. Quote Link to comment Share on other sites More sharing options...
satsuma Posted August 31, 2022 Share Posted August 31, 2022 Just now, TheCountOfNowhere said: United Ireland is inevitable I think now. Not so sure about that, there is no visible border and there is free trade, why bother to upset the apple cart? Only thing that would push Ireland in that direction is economic benefits, there are some if the corporation tax reduction can be brought back. Reality is the DUP are not allowing any progress and its just not worth the hassle of changing anything now. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 31, 2022 Share Posted August 31, 2022 2 minutes ago, satsuma said: Not so sure about that, there is no visible border and there is free trade, why bother to upset the apple cart? Only thing that would push Ireland in that direction is economic benefits, there are some if the corporation tax reduction can be brought back. Reality is the DUP are not allowing any progress and its just not worth the hassle of changing anything now. Im thinking it'll be more a push from the UK as the countries finances get worse and worse. Quote Link to comment Share on other sites More sharing options...
satsuma Posted August 31, 2022 Share Posted August 31, 2022 1 minute ago, TheCountOfNowhere said: Im thinking it'll be more a push from the UK as the countries finances get worse and worse. NI costs the UK and pretty penny for sure. Can't see it on our lifetime unless things get really bad. Quote Link to comment Share on other sites More sharing options...
fellow Posted August 31, 2022 Share Posted August 31, 2022 1 hour ago, TheResponsibleHouseBuyer said: Ffs... why cant it be outside London. That place is already overinflated to mars (where other places are inflated to the moon). Need crashy crashy a bit further outside London please. Have you actually read the article? "Many regions outside London are now seeing prices firmly starting to fall, with an average reduction in prices of 4.5% in the last month (c£17k or c£21k since June 2022).The data provides a clear indication that there is a slowdown in the market, after months of property price growth". TwentyEA Research: Instruction Prices – Regional Instruction Prices Region Price Change – Last 2 Months Price Change – Two Years East Midlands -1.8% 11.8% East of England -4.1% 13.7% Inner London -10.4% 11.8% North East -1.9% 8.7% North West -1.8% 12.6% Northern Ireland 3.2% 11.9% Outer London -3.6% 13% Scotland -5.6% 6.4% South East -9.8% 10.4% South West -5.7% 16.2% Quote Link to comment Share on other sites More sharing options...
TheResponsibleHouseBuyer Posted August 31, 2022 Share Posted August 31, 2022 1 minute ago, fellow said: Have you actually read the article? "Many regions outside London are now seeing prices firmly starting to fall, with an average reduction in prices of 4.5% in the last month (c£17k or c£21k since June 2022).The data provides a clear indication that there is a slowdown in the market, after months of property price growth". TwentyEA Research: Instruction Prices – Regional Instruction Prices Region Price Change – Last 2 Months Price Change – Two Years East Midlands -1.8% 11.8% East of England -4.1% 13.7% Inner London -10.4% 11.8% North East -1.9% 8.7% North West -1.8% 12.6% Northern Ireland 3.2% 11.9% Outer London -3.6% 13% Scotland -5.6% 6.4% South East -9.8% 10.4% South West -5.7% 16.2% Oh... no i admit i didnt 🤣. This is good news. We need more of these stats now from different sources. Sadly in my patch, I cant see it on the ground yet though. Quality properties are still lacking, but i guess i a do-er-upper can be more negotiable i guess. Quote Link to comment Share on other sites More sharing options...
fellow Posted August 31, 2022 Share Posted August 31, 2022 Prices seem to be falling faster than any of us could even dream of and the worst is yet to come. Where are the bulls? Quote Link to comment Share on other sites More sharing options...
TerryBoi Posted August 31, 2022 Share Posted August 31, 2022 9 minutes ago, fellow said: Prices seem to be falling faster than any of us could even dream of and the worst is yet to come. Where are the bulls? Herd mentality in a movie theater. The herd rushed in to grab their seats so they wouldn't miss the show. But suddenly they smell smoke. Now the herd will try to rush out. Emergency exits are locked. There is only one door. Quote Link to comment Share on other sites More sharing options...
winkie Posted August 31, 2022 Share Posted August 31, 2022 3 hours ago, highcontrast said: Crashy Crashy. Leasehold and flats? Quote Link to comment Share on other sites More sharing options...
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