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kingofnowhere

Rics Report

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Getting past the usual fluff (more people interested etc.) they claim more expensive houses are rising. All I see around here is the opposite with detached dropping 8.2% last Q according to the Government data. If RICS reported these falls and perhaps the latest data from Scotland showing falls of up to 10% in some areas their reports might have some credibility. But then, they are EAs and they would naturally want to show house prices always go up.

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Last Q's figures from the LR:

Stratford-On-Avon £328,827 -8.2% -8.8% 162

Warwick £321,358 -7.4% -7.0% 129

North Warwickshire £264,202 -3.4% -8.9% 55

Rugby £261,763 -6.7% -8.3% 118

Nuneaton And Bedworth £211,720 6.4% 3.5% 87

RICS should at least have included areas where houses were not up 6 months in a row.

We are awash in red ink here in the West Midlands, absolutley awash in it.

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Why do you never report anything negative?

I report what out there, and as I do not make up the news/numbers then I'm hostage to the market. If the market is moving in a positive direction that is what you will get. Sorry I'm not going to start making news up, or putting unrealistic negative spin on something.

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This is what I am seeing in my neck of the woods. Houses £350k / £450k / £700k are all selling quite quickly!! I am not sure why the higher end is shifting much more quickly than over the past few years, you would have thought that with reduced FTB there would not be enough people to move up the ladder.

Maybe its people who are already on the ladder renting out their own houses to buy another, which I have witnessed and people moving and getting even bigger mortgages again which I have friends doing.!

I think the public believe house prices are going to keep going up forever.!

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Worth adding your own ink to the graphs to see whats going on.

Price change England and Wales:

grplus.jpg

House Prices:

gr_prices.jpg

House Prices (South West):

gr_price_sw.jpg

Can you see where they're going?

post-692-1147787821.jpg

post-692-1147787827.jpg

post-692-1147787833.jpg

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Interesting to see this hidden away on pg 4. New Instructions in the RICS report.

Said this before, but just a reminder: nothing that RICS says should ever be trusted......

1. RICS surveyors take backhanders to inflate new builds in league with developers.

2. RICS is "self regulating" (ie: there is NO regulation)

3. RICS has an absolute vested interest in rising market.

4. RICS is a club for corrupt surveyors (see point 1)

5. See RICS's own website, and examine their "portfiolio" of business interests for ample evidence that this organisation could not possibly be "independant".

VP

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  • 301 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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