Bournemouth, Bristol Swindon Plunge 7% - 4%

[Realistbear]

Impressive and extremly bearish article from former HPI Cheerleader the Western Daily Press:

http://www.westpress.co.uk/displayNode.jsp...&folderPk=75885

HOUSING: YOU SHOULD FORGET ABOUT A BOOM

09:37 - 28 April 2006

House prices in the UK cooled sharply in April, research from the country's biggest building society showed yesterday. According to Swindon-based Nation-wide, the drop could be the first sign of a slowdown in rate of growth for the buoyant housing market.

However, the seaside resort of

Bournemouth saw the biggest drop with prices down by seven per cent.

Surprisingly

Bristol, widely regarded as one of the region's hotspots, saw average prices drop four per cent

.

Swindon also slowed with a five per cent fall.

But Covingham and the town centre remain popular with first-time buyers, said Mr Delaney, thanks to good access to the M4 without being affected by road noise

Seems we are seeing the same kind of pattern that ushered in the Great Crash* with patchy falls, mostly in former hot spots, that spread outwards to a more even collapse as momentum toward th4e downside builds.

It seems that the next phase of the HPC has begun--the gathering momentum to the downside.

_____________________________

*The "Great Crash" occured in A.D. 1989-96 and caused widespread plunges in property prices throughout the UK and in some overseas markets, most notably the U.S. where prices had risen to very similar levels before plummeting.

[Levy process]

Impressive and extremly bearish article from former HPI Cheerleader the Western Daily Press:

http://www.westpress.co.uk/displayNode.jsp...&folderPk=75885

HOUSING: YOU SHOULD FORGET ABOUT A BOOM

09:37 - 28 April 2006

House prices in the UK cooled sharply in April, research from the country's biggest building society showed yesterday. According to Swindon-based Nation-wide, the drop could be the first sign of a slowdown in rate of growth for the buoyant housing market.

However, the seaside resort of

Bournemouth saw the biggest drop with prices down by seven per cent.

Surprisingly

Bristol, widely regarded as one of the region's hotspots, saw average prices drop four per cent

.

Swindon also slowed with a five per cent fall.

But Covingham and the town centre remain popular with first-time buyers, said Mr Delaney, thanks to good access to the M4 without being affected by road noise

Seems we are seeing the same kind of pattern that ushered in the Great Crash* with patchy falls, mostly in former hot spots, that spread outwards to a more even collapse as momentum toward th4e downside builds.

It seems that the next phase of the HPC has begun--the gathering momentum to the downside.

_____________________________

*The "Great Crash" occured in A.D. 1989-96 and caused widespread plunges in property prices throughout the UK and in some overseas markets, most notably the U.S. where prices had risen to very similar levels before plummeting.

It's game over.

[tahoma]

Keep 'em a comin' RB.

I joined this site a little over 2 months ago. In that time I have witnessed a definite sentiment change in the media, and even some sheeple are looking worried when property is mentioned.

Tee hee! Duck and cover.

[munimula]

However, the seaside resort of Bournemouth saw the biggest drop with prices down by seven per cent.

Surprisingly Bristol, widely regarded as one of the region's hotspots, saw average prices drop four per cent.

Thanks for this - I've forwarded to my sister who is looking at buying in Bristol. Working hard to put her off, prices there are very riskly to say the least. The risk has to be all on the downside.

However the article doesn't make it clear what these drops were for - Halifax Q1 2006 or Halifax yearly?

it isn't April unfortunately - that would be good!

[Peach]

From the same article:

Its figures showed that house prices grew by just 0.1 per cent in April against a 1.1 per cent increase a month before. Annual house price inflation fell to 4.8 per cent last month from 5.3 per cent in March.

The Nationwide said the average UK house price is now £163,573, nearly £7,500 more than this time last year.

Nationwide group economist Fionnuala Earley said: "The cooling in prices in April was not unexpected given the surge in March." She said the underlying picture remains reasonably healthy as demand continues to be firm.

But she warned that higher petrol prices and utility bills, together with rising unemployment, could hit consumer confidence this year.

She said: "All in all we think this adds up to a mildly weakening rather than accelerating profile for house price growth for the rest of the year." This was a surprise for some City analysts.

http://www.westerndailypress.co.uk/display...e=sidebarsearch

[Duplex]

Bristol???? But but but .......Kirsty said Bristol was Bricks n' Mortar safe as ouses!

[OzzMosiz]

C'mon Swindon! Down you go! and not the football team!! PLEASE!!

Noticed that a lot of properties (2 bed terraces) are asking about 10K or so more than last year though!!

Difference between asking and selling price must be huge!

Edited April 28, 2006 by OzzMosiz

[Irkuiem]

Seems we are seeing the same kind of pattern that ushered in the Great Crash* with patchy falls, mostly in former hot spots, that spread outwards to a more even collapse as momentum toward th4e downside builds.

I don't think I would ever call Swindon a hotspot. I live there so I hope I have a good judgement on the place.

From my observations, prices in Swindon have stuck for the last two years, but have recently risen from the start of the year. They definitely haven't fallen from what I can see (I have started seeing Park South and Penhill 2 beds asking over £100000). There are large numbers of new builds being made and most of these are small, so perhaps these cheaper houses / flats have weighted the figures in a downwards direction.

My wifes brother lives in Bristol and he has noticed the houses that he would like (2 beds) rising over the last 2 years.

I would say that the falls mentioned have been due to bigger overpriced houses becoming more realistic with asking prices. After all, these days, its easy to add and extra £50000 to a huge houses asking price without looking insanely greedy.

However all this in my view help the FTB'er as the two bedders are rising in price.

_____________________________

*The "Great Crash" occured in A.D. 1989-96 and caused widespread plunges in property prices throughout the UK and in some overseas markets, most notably the U.S. where prices had risen to very similar levels before plummeting.

[Leodhasach]

-5%....back of the net!

What's the reason? Nervous car industry workers maybe?

Or maybe Swindonites are too sophisticated to be fooled by VI spin and are waiting for the crash

[Buccaneer]

-5%....back of the net!

What's the reason? Nervous car industry workers maybe?

Or maybe Swindonites are too sophisticated to be fooled by VI spin and are waiting for the crash

'Swindonites' and 'sophisticated' in the same sentence LOL

[Realistbear]

-5%....back of the net!

What's the reason? Nervous car industry workers maybe?

Or maybe Swindonites are too sophisticated to be fooled by VI spin and are waiting for the crash

With Peugeot pulling out to build cars where houses are cheaper and people can work for lower wages it may have given the nice folk at Honda some ideas? What on earth would keep a high flyer like HMC here anyway? In a few years they may be number 2 to Toyota and will need to build smart to stay competetive.

[Irkuiem]

C'mon Swindon! Down you go! and not the football team!! PLEASE!!

Noticed that a lot of properties (2 bed terraces) are asking about 10K or so more than last year though!!

Difference between asking and selling price must be huge!

My typing is a bit slow and this reply wasn't on my screen when I started, but I am glad that someone else has observed this.

I would like to think the difference would be huge, but I see lots of sold boards up.

Swindon is still relatively cheap. It might be a bit manky, but I think if prices are as high as they are in places like Reading I believe people will still come to Swindon having been priced out, and this will push the prices up still. This is what I did because I could not afford my home city (Salisbury).

My position now is that I am buying. I don't believe I will make any money, but my aim is too pay of as much as I can so the next step on (in about five years) will be easier. I guess I am calling 2011 near the bottom of the trough from any falls in price. Hopefully any falls in value will be similar to the rent I will have payed in this time anyway.

[mhifoe]

With Peugeot pulling out to build cars where houses are cheaper and people can work for lower wages it may have given the nice folk at Honda some ideas? What on earth would keep a high flyer like HMC here anyway? In a few years they may be number 2 to Toyota and will need to build smart to stay competetive.

I think Honda Swindon is safe for a while as they have only just finished upgrading it for the new civic.

There are a lot of empty office blocks in the town centre though. Maybe they'll turn them all into 'executive apartments'.

[Peach]

There are a lot of empty office blocks in the town centre though. Maybe they'll turn them all into 'executive apartments'.

They already are, check out http://www.rightmove.co.uk/viewdetails-743...pa_n=5&tr_t=buy or http://www.paramount-apartments.co.uk/cont...pageId=location - both are redeveloped office blocks.

[OzzMosiz]

From my observations, prices in Swindon have stuck for the last two years, but have recently risen from the start of the year. They definitely haven't fallen from what I can see (I have started seeing Park South and Penhill 2 beds asking over £100000). There are large numbers of new builds being made and most of these are small, so perhaps these cheaper houses / flats have weighted the figures in a downwards direction.

3 and 4 bedroom houses have slipped down, whilst 2 bedroom terraced/semis have edged up in asking price. Thats what I'm seeing in North and West Swindon.

[mhifoe]

They already are, check out http://www.rightmove.co.uk/viewdetails-743...pa_n=5&tr_t=buy or http://www.paramount-apartments.co.uk/cont...pageId=location - both are redeveloped office blocks.

The first one is just down the road from me.

It is an ugly office block next to a major junction with five lanes of traffic, no wonder they used an artists impression rather than an actual photo.

[Irkuiem]

'Swindonites' and 'sophisticated' in the same sentence LOL

Will never class myself as a Swindonite even though I live there. Well for a little while longer at least.

Salisburyite

[OzzMosiz]

Salisburyite

Malmesburyite here

[Peach]

Malmesburyite here

Same here..

[Irkuiem]

Same here..

Lovely place Malmesbury. I would even go as far as to call it Little Salisbury.

Sorry going a bit off topic here.

[Ritters]

It's game over.

Or are we approaching another MPC meeting

Pleeeeeeaaaaassseee don't raise the rates Mr King

[Realistbear]

Displaced Guildfordite here

[OzzMosiz]

Same here..

Do I know you? How old?

[Peach]

Do I know you? How old?

31. And you?

[OzzMosiz]

31. And you?

31 this year!