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Summer 2004 - The Peak ?

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If prices are still rising, why do some posters keep stating summer 2004 as the peak ?

It was the peak; prices are not rising, media spin, nothing more, VI's are clutching to the one last ray of hope, the last ones in will be the first to fall like lambs to the slaughter, very sad when they believe all the media hype. :blink:

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If prices are still rising, why do some posters keep stating summer 2004 as the peak ?

Only Scotland, NI and some northern counties keeping UK HPI positive,

Remove these and UK HPI is firmly negative, in real terms probably -5% or more

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If prices are still rising, why do some posters keep stating summer 2004 as the peak ?

More accurately, it's the join between the BULL and the BEAR markets

BULL = rising price, no confusion, easy money, everyone's a genius

BEAR = maybe some rises, some falls, confusion abound, really tough money, it takes a genius.

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something happened in summer 2004, the market changed.. But did it change permanantly and what is the new direction after this quick breather. In the same way the market changed in summer 2004, the market changed again in autumn 2006, looking at data i have in excel.

If you look at housing data in detail aswell as long term cycles there seem to be shorter 2/3 year cycles, we are at the top of another short term peak...

Edited by moosetea

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Only Scotland, NI and some northern counties keeping UK HPI positive,

Remove these and UK HPI is firmly negative, in real terms probably -5% or more

Prices round me (E Ldn) have gone up about 5-10% in the last 9 months (unusual case perhaps).

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Sorry but prices here are higher than summer 04 and prices are still increasing and houses are still selling!

Lou

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Prices round me (E Ldn) have gone up about 5-10% in the last 9 months (unusual case perhaps).

Father Fred, is this advert for real?

Stratford Flat

Surely these places aren't really selling at these prices? I lived in Stratford a few years ago - compared to most other areas of London it is utterly dreadful.

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Surely these places aren't really selling at these prices? I lived in Stratford a few years ago - compared to most other areas of London it is utterly dreadful.

This is a special case. Those aren't white walls, they are compacted hard drugs. It's the old trick of hiding something in plain sight, including the payoff for the deal.

Billy Shears

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Father Fred, is this advert for real?

Stratford Flat

Surely these places aren't really selling at these prices? I lived in Stratford a few years ago - compared to most other areas of London it is utterly dreadful.

That is staggering if the price is right. Doesn't even look that big.

I actually have met a few people who think they are clever to be buying in Stratford or other equally dreggy bits of East London. It's never been a nice area, it's not going to be magically transformed over night. If it had been underpriced when the Olympics were announced, fair enough you'd expect rises. but it was already well-overpriced. You could get a decent 3 or 4-bed in some quite nice areas for that money.

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That is staggering if the price is right. Doesn't even look that big.

I actually have met a few people who think they are clever to be buying in Stratford or other equally dreggy bits of East London. It's never been a nice area, it's not going to be magically transformed over night. If it had been underpriced when the Olympics were announced, fair enough you'd expect rises. but it was already well-overpriced. You could get a decent 3 or 4-bed in some quite nice areas for that money.

One thing is for sure - the poor of east london will be housed in style courtesy of the DHSS in a few years time. Although the flat may look more like a slum tenament with a family of 5 crammed into it (they just don't get the concept of minimalism, those awful poor people). :lol:

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One thing is for sure - the poor of east london will be housed in style courtesy of the DHSS in a few years time. Although the flat may look more like a slum tenament with a family of 5 crammed into it (they just don't get the concept of minimalism, those awful poor people). :lol:

Shame though, we've only just spent the last decade or so knocking down the old slum blocks and now they're building new versions.

I've mentioned before the twin blocks in Docklands - one completed 1989 sold at mega-prices, but the other completed a year later failed to sell so Tower Hamlets took it over as social housing. Rich block spent years complaining to the local paper about poor block but to no avail.

I don't think it even needs a crash for that to happen again - there's just too many new-builds, too overpriced, and they are going to fall no matter what happens elsewhere.

Edited by Magpie

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One thing is for sure - the poor of east london will be housed in style courtesy of the DHSS in a few years time. Although the flat may look more like a slum tenament with a family of 5 crammed into it (they just don't get the concept of minimalism, those awful poor people). :lol:

As I suspected, there is some major league fishing for muppets going on there. Houseprices.co.uk gives the more expected (but still ridiculous) truth:

Sale Date Price Type Tenure Map Address

1 10/02/2006 £275,000 Flat L/H Map 72 The Lock Building, Flat 129, High Street, Newham, London, Greater London, E15 2QG

2 06/02/2006 £285,000 Flat L/H Map 72 The Lock Building, Flat 128, High Street, Newham, London, Greater London, E15 2QG

3 02/02/2006 £250,000 Flat L/H Map 72 The Lock Building, Flat 103, High Street, Newham, London, Greater London, E15 2QG

4 31/01/2006 £275,000 Flat L/H Map 72 The Lock Building, Flat 130, High Street, Newham, London, Greater London, E15 2QG

5 31/01/2006 £250,000 Flat L/H Map 72 The Lock Building, Flat 127, High Street, Newham, London, Greater London, E15 2QG

6 31/01/2006 £250,000 Flat L/H Map 72 The Lock Building, Flat 126, High Street, Newham, London, Greater London, E15 2QG

7 31/01/2006 £215,000 Flat L/H Map 72 The Lock Building, Flat 115, High Street, Newham, London, Greater London, E15 2QG

8 31/01/2006 £200,000 Flat L/H Map 72 The Lock Building, Flat 106, High Street, Newham, London, Greater London, E15 2QG

9 31/01/2006 £167,750 Flat L/H Map 72 The Lock Building, Flat 107, High Street, Newham, London, Greater London, E15 2QG

10 30/01/2006 £295,000 Flat L/H Map The Lock Building, Flat 132, High Street, Newham, London, Greater London, E15 2QG

Asking price £155k over the highest ever achieved (and no doubt that was a penthouse or some such rather than the bog standard version here).

They must be expecting a call from Phil and Kirsty if they think they are getting that.

Another Stratford future council flat:

Stratford

These places were asking similar money 3 years ago - so much for the olympic boom! ;)

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  • 342 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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