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Proof That House Prices Are Down In Some Areas

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Here are two websites advertising the same house. I presume one is older than the other so guess which ones?

Address

CREDITON Devon EX17 2DS

http://72.14.209.104/search?q=cache:BsPW4n...t=clnk&cd=5

http://teamsmartdata.co.uk/smartsearch.asp...00000|0|||||15|

:D

You must be very happy with yourself , you have found one house were the price has dropped slightly. Mate this happens all the time and has done for years and years. You'll always find some cheeky ba@@@rd trying it on by putting his house on the market for £20-30k more than the EA valuation. This happens consistently whatever the market conditions. I know Crediton well as I went to school in Exeter and looking around local property websites his original price was very cheeky. He probably got carried away by talk of 10-15% rises in 2006 around that area.

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Here are two websites advertising the same house. I presume one is older than the other so guess which ones?

Address

CREDITON Devon EX17 2DS

http://72.14.209.104/search?q=cache:BsPW4n...t=clnk&cd=5

http://teamsmartdata.co.uk/smartsearch.asp...00000|0|||||15|

:D

Well done. You've found one example, a nice single example for people to compare with the thousands of transactions recorded in the Q2 Land Registry Figures which showed rises all over the UK.

Perhaps if you'd found 20-30 examples of this in average priced houses in a small area, your data would be worth something.

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I heard things were not as well as the EAs claim in quite a few parts of the country including Devon which has been ramped recently:

Poole

£347,386 Q: -7.4% YoY: 0.3% 319

Purbeck

£294,327 Q: -22.8% YoY: -1.1% 95

Bournemouth

£278,095 Q: -5.1% YoY: 2.8% 452

Sources:

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

Edited by Realistbear

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I heard things were not as well as the EAs claim in quite a few parts of the country including Devon which has been ramped recently:

Poole

£347,386 Q: -7.4% YoY: 0.3% 319

Purbeck

£294,327 Q: -22.8% YoY: -1.1% 95

Bournemouth

£278,095 Q: -5.1% YoY: 2.8% 452

Sources:

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

The average price for flatsi n those areas mentioned above rose by a lot more I would hazzard a guess. Why not send us the link for that page of stats and we'll take a look for ourselves. My betting is that you have selected Detached Houses because they are the smallest increases :rolleyes:

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The average price for flatsi n those areas mentioned above rose by a lot more I would hazzard a guess. Why not send us the link for that page of stats and we'll take a look for ourselves. My betting is that you have selected Detached Houses because they are the smallest increases :rolleyes:

Yup--my interest is detached as they reflect the top of the market and the biggest influence over the ultimate direction of prices. Unaffordability is working from the top down and not the bottom up because no one can buy into the bottom any more. :)

Flats are doing quite well out west except the more popular BTL areas such as Cornwall, Plymouth and Somerset:

Flats

Cornwall

£145,839 Q: -4.2% YoY: 0% 264

City Of Plymouth

£117,969 Q: -1.9% YoY: 6.2% 349

Somerset

£113,492 Q: -1.6% YoY: 2.3% 343

Mid Devon

£99,105 Q: -20.9% YoY: -4.2% 18

West Somerset

£134,972 Q: -3.0% YoY: 9.3% 33

Sedgemoor

£115,333 Q: -4.6% YoY: 15.5% 83

Mendip

£106,880 Q: -3.8% YoY: -12.8% 88

South Somerset

£104,836 Q: -5.6% YoY: 4.5% 72

Sources:

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

The BBC have all areas covereds and it is a mixed picxture with many areas rising in the last Q (with the lag--the figures are more a reflection of earlier in the year than the recent Q)

Edited by Realistbear

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Yup--my interest is detached as they reflect the top of the market and the biggest influence over the ultimate direction of prices. Unaffordability is working from the top down and not the bottom up because no one can buy into the bottom any more. :)

Flats are doing quite well out west except the more popular BTL areas such as Cornwall, Plymouth and Somerset:

Flats

Cornwall

£145,839 Q: -4.2% YoY: 0% 264

City Of Plymouth

£117,969 Q: -1.9% YoY: 6.2% 349

Somerset

£113,492 Q: -1.6% YoY: 2.3% 343

Mid Devon

£99,105 Q: -20.9% YoY: -4.2% 18

Sources:

England and Wales

Land Registry of England and Wales, Crown copyright. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

The BBC have all areas covereds and it is a mixed picxture with many areas rising in the last Q (with the lag--the figures are more a reflection of earlier in the year than the recent Q)

Again selective areas - RB's pick and mix. What was the data for Bournemouth / Poole - good BTL areas. Can we have the stats for flats in these areas please Apr-Jun 06 rather than detached houses.

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Again selective areas - RB's pick and mix. What was the data for Bournemouth / Poole - good BTL areas. Can we have the stats for flats in these areas please Apr-Jun 06 rather than detached houses.

Poole did quite well considering:

All house types

Poole

£256,011 Q: -2.2% YoY: 3.8% 874

Detached

Poole

£347,386 Q: -7.4% 0.3% 319

Semis

Poole

£195,493 Q: -1.8% YoY: -2.5% 156

Terraced

Poole

£183,202 Q: 1% YoY: 1.4% 156

Poole is holding up quite well with slight falls other than at the top end of the market as we go into the 2nd Q. Might see some sharper drops as winter sets in?

Bournemouth is doing okay also:

Bournemouth

Detached

£278,095 Q: -5.1% YoY: 2.8% 452

Semis

Bournemouth

£192,177 Q: 1% YoY: 3.2% 166

Flats

Bournemouth

£159,480 Q: 2.7% YoY: 3.4% 601

Bournemouth is still doing extremely well compared with many areas out west with annual appreciation of 2.7% which is right about the level of Gordon's miraculous inflation rate. <_< Not much of an investment though when you can get 5.25% in a bank saving account?

Edited by Realistbear

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Selective Selective Selective

Was this the stat you failed to put up:

Poole £221,652 6.3% 8.1% 243

the overall for Bournemouth shows:

Bournemouth

£206,766 Q: 2.2% YoY: 4.6% 1298

Whereas Poole is overall negative at -2.2. The overall market might be a slightly more accurate barometer as to the market conditions generally.

Flats alone in Poole did go against the trend for other property types:

Poole

£221,652 Q: 6.3% YoY: 8.1% 243

Obviously a hot spot and time to get in? <_<

Looks like fewer sales than Bournemouth which saw lower appreciation:

Bournemouth

£159,480 Q: 2.7% YoY: 3.4% 601

IMO, we are seeing the much larger drops in detached properties in the West country. BTL should be the last to go and as you can see appreciation is slowing. I would not be surprised to see Flats in Poole turn negative as the long dark nights and winter sets in again. As it stands they do stand out as the exception, or the "select" house type, with all other types losing ground or appreciating by less than 5%.

Sources:

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

Edited by Realistbear

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Let me pluck some stats out for you in the area we are talking about....

ITS GOING MENTAL EVERYTHING IS FLYING UP :P

NAME AV PRICE (£) QUARTER ANNUAL SALES

East Dorset £196,449 +13.9% + 6.9% 77 Terraced

West Dorset £333,819 +11.6% +10.9% 225 Detached

Weymouth £286,569 +12.6% +6.2% 94 Detached

Mendip £307,090 +16.7% +10.2% 162 Detached

North Somerset £162,412 +8.1% +10.7% 309 Terraced

Carrick £198,024 +13.3% +12.2% 170 Terraced

Penwith £315,466 +7.5% +21.5% 99 Detached

North Cornwall £142,548 +16.6% +11.4% 38 Flat

Sources:

England and Wales

Land Registry of England and Wales, Crown copyright. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

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Don't forget, the thread is on:

Proof That House Prices Are Down In Some Areas
Address
CREDITON Devon EX17 2DS

I hope that by presenting some areas from the LR the argument that some areas in Devon are falling is true. <_<

Edited by Realistbear

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Don't forget, the thread is on:

Proof That House Prices Are Down In Some Areas
Address
CREDITON Devon EX17 2DS

I hope that by presenting some areas from the LR the argument that some areas in Devon are falling is true. <_<

Q on Q figures are absolutely meaningless, whether they show rises or falls. Particularly for detached houses, where low volumes means that a few million pound Sandbanks properties sold, or not sold, will distort the picture.

People should really stop trying to paint pictures from Q on Q data!

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Seems like some of you are missing the point.

it may well be the case that the seller and estate agent are ramping the price, and that the current price is more realistic. However, for me it means there is a good reason to offer 425k and just see what happens.

For my part, the size of house and plot of land suggest it's true worth is about 400k. That makes it affordable while not being out of line with the expectations of someone my age (43) and profession. The orginal price, was certainly too high for someone earning close to 100k a year.

All that said I know nothing about crediton and would be interested to hear comments on what its like to live in.

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Its a fact that you can today buy flats in Poole Cheaper that 2 years ago!

At Dolphin Quays there are about 30 (out of circa 110) apartments up for re-sale. Flying of the shelves? They still have 4 that remain unsold 4 years after the development was launched. One 2 bed flat just behind the Quay was bought for £225k 10 months ago as a flip, its just been reduced to £199,000 and not selling (It's competing with other 2 bedders similar spec at £175k). There are many flats being marketed at below what the buyers paid for them in the last couple of years, and they ain't selling. With Poole Quater, Old Orchard and the 600 'Eastern Block' inspired units just over the bridge in Hamworthy comming on-stream and further I/R rise in the pipe line. It's going to get interesting.

Pablo Silver or Lead?

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Guest grumpy-old-man

Seems like some of you are missing the point.

it may well be the case that the seller and estate agent are ramping the price, and that the current price is more realistic. However, for me it means there is a good reason to offer 425k and just see what happens.

For my part, the size of house and plot of land suggest it's true worth is about 400k. That makes it affordable while not being out of line with the expectations of someone my age (43) and profession. The orginal price, was certainly too high for someone earning close to 100k a year.

All that said I know nothing about crediton and would be interested to hear comments on what its like to live in.

if a house price is, for sake of argument 425k, so you think 400k is a good deal then?? In the current circumstances I think approx 300k would be what it will be worth with an approx 25% drop in about 3-4 years time. Then ask yourself was it worth paying 400k, and that's just a 25% drop, what if it's more.

A house is only worth what people think it's worth. If your current financial situation can support a 30% drop then go for it, if not then don't :)

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Its a fact that you can today buy flats in Poole Cheaper that 2 years ago!

At Dolphin Quays there are about 30 (out of circa 110) apartments up for re-sale. Flying of the shelves? They still have 4 that remain unsold 4 years after the development was launched. One 2 bed flat just behind the Quay was bought for £225k 10 months ago as a flip, its just been reduced to £199,000 and not selling (It's competing with other 2 bedders similar spec at £175k). There are many flats being marketed at below what the buyers paid for them in the last couple of years, and they ain't selling. With Poole Quater, Old Orchard and the 600 'Eastern Block' inspired units just over the bridge in Hamworthy comming on-stream and further I/R rise in the pipe line. It's going to get interesting.

Pablo Silver or Lead?

Its a fact that you can now buy flats more expensive in Poole than you could 2 years ago.

Dolphin Quays-I think your exagerrating with 30, I walked around there a few weeks ago and there are about 7 or 8 apartments and 2 penthouses up for sale. The ones that struggle to sell as far as I could see are the one beds with no views over the Quay. The two beds they had up for sale were £500k+, obviously overpriced in the current market so not surprised they arent flying off the shelf . Some nice properties there though.

Dont know much about Poole but it seemed a little overpriced from what I could see. Definitely see a correction in the next few years. 15-20%.

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Its a fact that you can now buy flats more expensive in Poole than you could 2 years ago.

Dolphin Quays-I think your exagerrating with 30, I walked around there a few weeks ago and there are about 7 or 8 apartments and 2 penthouses up for sale. The ones that struggle to sell as far as I could see are the one beds with no views over the Quay. The two beds they had up for sale were £500k+, obviously overpriced in the current market so not surprised they arent flying off the shelf . Some nice properties there though.

Dont know much about Poole but it seemed a little overpriced from what I could see. Definitely see a correction in the next few years. 15-20%.

I checked back with my source and did some due diligence myself. Ref Dolphin Quays, there are 16 appartments for re-sale on the market with agents, there are half a dozen more which the vendors (nowing the market is flooded) have put on 'low key' with agents. There are two owned by the same entity/person just about to come on due to personel financial difficulties (they were/are rented but burning cash). There are a least 4 for sale privately. So it's about 30.

The flat currently for sale at £950K was bought off plan 3 years ago for £1.45 million!!!

Along the Quay at port St James the top price paid for a 2 bedder facing the quay with views was £400k it sold 10 months later for £310k!!! the flat next door same exact spec is on for £315k. So have prices dropped £90k in a year or gone up £5k in 6 months?

Some people may for what ever reason choose to pay more for a flat in Poole today then they have to, personally I'm not going to join them. Prices of 2 bed flats in and arround the area will drop 15 to 30% in the next 2 years, so timming is everything.

Pablo Silver or Lead?

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Q on Q figures are absolutely meaningless, whether they show rises or falls. Particularly for detached houses, where low volumes means that a few million pound Sandbanks properties sold, or not sold, will distort the picture.

People should really stop trying to paint pictures from Q on Q data!

By "people" you mean RB (Realist Bullshitter!) with his super selective Bear-vision stats?

Edited by moneymad

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By "people" you mean RB (Realist Bullshitter!) with his super selective Bear-vision stats?

We've reached our government quota of special needs bull posts today which add nothing to the debate. Please feel free to take your medication and go to bed.

Off you go. Chop chop.

:lol::lol:

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Does anyone really think Dolphin Quays is worth all that money? I watched as they built it (eventually- after the builders walked off and sealed the site for non payment of bills). It's an absolutley horrid slab of flats totally out of keeping with Poole. The much vaunted "views over Poole Harbour" is pure marketing spin- sure SOME flats have sea views but most don't. If you buy at the back of the development you get a nice view of the council flats. Being right next door to some of the busiest pubs in town means you are guaranteed no peace in summertime.

The whole thing was only built after some shady shenanigins with offshore investors buying into Poole Pottery and persuading/ back handing the council into letting them rip down the factory and slap Dolphin Quays in it's place. Poole Pottery was an internationally recognised pottery turning out collectable pieces- it's shot to $hit now with loads of local people laid off.

I'm sure flats in and around Poole will fall away- they've built so many of them there are too many to get rid of.

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......... I know Crediton well as I went to school in Exeter and looking around local property websites his original price was very cheeky. He probably got carried away by talk of 10-15% rises in 2006 around that area.

Adi

I am interested in knowing what Crediton is like to live in. Any thoughts on quality of area, amenities, schools, health care etc would be appreciated. I'm a brit living in the USA and wondering if its a realistic option for someone moving back to the UK after having lived a little of the expat life.

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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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