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music man

Hpc Happening In Norfolk

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So with House prices reaching the £200K mark earlier in the year (And my figures are general qutoes from the usual suspects) and after having a spring bounce they are now.. wait for it........... coming up to the £200K mark.

Excuse me - they appear to have gone up in price to a lesser amount which means carry on in this general direction.

And I am noticing huge amounts of £100K or less properties on the market in my area. As previously stated the last flat I enquired of had come down £10K in price from £89.95K.

And now I'll give you a real reason to ponder a statistical fact. In the past, some time long, long ago I assume they actually did the stats on the selling price and today is very different.

WE MEASURE ASKING PRICES AND EXCLUDE REDUCTIONS ON MANY STATISTICAL MEANS SUCH AS RIGHTMOVE AND HALLIWIDE DO SIMILAR.

NO REDUCTIONS RECORDED RIGHT.

Now what has happened in an area near me - Thetford, Norfolk is that 8 houses (repossessions - through just one EA) have been put on at above market value.

Yes repossessions - and maybe they'll sell in time at 20% or 30% initial asking price.

THE FIGURES ARE BEING DISTORTED.

The crash is here and we know it.

Chin, chin and avoid the nasty untruth of the mass media, they're out to get you down.

The crash is here no doubt, prices are coming down and they are pushing as many lies to the debt addicts as they can.

And that will not change without a patsy in the form of Oil and War which we are seeing.

Open your eyes and ask - does the world look as if it's stable.

Actually close your eyes and ask the same question and think in silence.

Edited by music man

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We know prices are not rising all over.. and infact.. dropping in many..

but while people think they are going up..

so can IR's

If property prices were seen to be dropping IR's could not be raised.

The UK citizen is a moron..

Let him bend over.. at least it is only smoke being blown up his ****.. :) he loves it

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We know prices are not rising all over.. and infact.. dropping in many..

but while people think they are going up..

so can IR's

If property prices were seen to be dropping IR's could not be raised.

Let him bend over.. at least it is only smoke being blown up his ****.. :) he loves it

Are you seeing much droppings apom. yes I know how it reads.

I seem to be able to smell those droppings as well.

Edited by music man

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The latest LR figures (showing average UK price nearing 200K) use the actual selling price, not the asking price. Any reductions during the sale are entirely ignored, only the speed across the finishing line, as it were, is used.

A percentage of figures declared to the LR will be articficially reduced to save on stamp duty, so I suppose the real LR figures are a tiny bit higher than declared. So, pray tell, which figures are being distorted, by whom and by what means?

An interesting interpretation of pretty unambiguous statistics (unlike RPI for example) - they are rising everywhere so "The crash is here". :D:D:D Hmmm.

No wonder this site is so mocked. The serious writers are undermined by nonsense such as this. Personally I think that the UK could well see a major house price reduction, but no sign of it nationwide and sustained. For every anecdote about unsold property there is one about fast selling ones (oddly enough usually the quality property. Funny, that).

So with House prices reaching the £200K mark earlier in the year (And my figures are general qutoes from the usual suspects) and after having a spring bounce they are now.. wait for it........... coming up to the £200K mark.

Excuse me - they appear to have gone up in price to a lesser amount which means carry on in this general direction.

And I am noticing huge amounts of £100K or less properties on the market in my area. As previously stated the last flat I enquired of had come down £10K in price from £89.95K.

And now I'll give you a real reason to ponder a statistical fact. In the past, some time long, long ago I assume they actually did the stats on the selling price and today is very different.

WE MEASURE ASKING PRICES AND EXCLUDE REDUCTIONS ON MANY STATISTICAL MEANS SUCH AS RIGHTMOVE AND HALLIWIDE DO SIMILAR.

NO REDUCTIONS RECORDED RIGHT.

Now what has happened in an area near me - Thetford, Norfolk is that 8 houses (repossessions - through just one EA) have been put on at above market value.

Yes repossessions - and maybe they'll sell in time at 20% or 30% initial asking price.

THE FIGURES ARE BEING DISTORTED.

The crash is here and we know it.

Chin, chin and avoid the nasty untruth of the mass media, they're out to get you down.

The crash is here no doubt, prices are coming down and they are pushing as many lies to the debt addicts as they can.

And that will not change without a patsy in the form of Oil and War which we are seeing.

Open your eyes and ask - does the world look as if it's stable.

Actually close your eyes and ask the same question and think in silence.

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Indeed - my g/f parents have just splashed out on a £450K property while they watch their daughter live in a council home, while I save being at my parents.

And I'm just one of 4.5 million having gone back to their folks for the ability to save.

The fact that houses are dropping in price tells me something though.

I'm not quite sure what it is though............. oh yes it came back to me.

It is that houses are dropping in price and repos. distort the facts.

No wonder this site is so mocked. The serious writers are undermined by nonsense such as this. Personally I think that the UK could well see a major house price reduction, but no sign of it nationwide and sustained. For every anecdote about unsold property there is one about fast selling ones (oddly enough usually the quality property. Funny, that).

Could it be your missing an important point.

Assume we are having a slump in the market, and high priced properties are distorting the figures upward as you mention.

And low price properties are dropping with the distortion of repossessions.

Then one would see an upward trend in a downward market. Thanks for the idea.

Q. Karen1000 do you really think that higher priced properties are taking a major share of the market 'cos I've noticed this myself.

The distortions may be bigger that I expected. Who knows but distortions there are.

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If property prices were seen to be dropping IR's could not be raised.

That's a load of rubbish aint it?

IR's can and will likely go up for a whole load of reasons, even if house prices are dropping and are seen to be dropping eventually.

It's just one factor (altho pretty significant) in the MPC's decision making process.

Edited by am i bothered

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Latest LR figures

Average Price, % change in quarter, % change on year, Number of transactions

South Norfolk

£199,951 3.5% 4% 594

North Norfolk

£186,608 -3.7% 3.3% 533

Broadland

£183,966 2.2% 3.9% 651

King'S Lynn And West Norfolk

£167,440 5.1% -0.7% 757

Breckland

£166,553 2.4% 3.3% 776

Norwich

£155,895 1.9% 3.1% 744

Great Yarmouth

£130,341 2.5% 3.4% 502

In the case of Kings Lynn and West Norfolk the %5 QonQ follows a drop the previous quarter, hence the YoY still shows a slight drop. Detached houses bounced back from about -10% last quarter to +16% this quarter. The relatively large proportion of detached sales in Norfolk causes more volatility in the figures as these are less homogeneous.

My own weekly survey of rightmove, and a few actual on the ground viewings show me that the house price bubble is still there in Norfolk. Over 3 years, I'd estimate that I've seen a 30% increase in asking prices. What amazes me is that small farmhouses in the weird and flood prone fens have gone from around 200k in 2003 upto 400k now. That to me is a more surprising rise than the equivalent say in London.

Looks like things are still flat by the LR figures, but I wouldnt say there is an HPC yet. In the last crash, areas like Norfolk showed greater price volatility. I guess when the general economy tips down, it affects areas like Norfolk worse.

Edited by 2MeterBear

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Alright, alright. Calm down.

I was only indentifying a detached house less than £200k, which is the first i've seen this year. Personally, I want a small detached house. I don't mind a linked detached, as long as I can get a car in the garage.

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Ooohh, I've just searched Rightmove and there's a detached house under £200k that I like - not that I can afford it. Wicked.

What does everyone think to this type of house: http://www.rightmove.co.uk/viewdetails-460...14&tr_t=buy

If I could get anything like that here..I would jump on it :rolleyes: unfortunate you would have to pay double that here :o

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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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