redwing Posted January 19, 2008 Author Share Posted January 19, 2008 Here's an extract from the Halifax Regional Report: Region: East AngliaFourth Quarter 2007 East Anglia Index (seasonally adjusted) 634.8 Quarterly Change (Q4 2007 on Q3 2007) -1.3% Annual Change (Q4 2007 on Q4 2006) 3.9% Standardised Average House Price in East Anglia (seasonally adjusted) £190,984. House prices fell by -1.3% in East Anglia in Q4 2007 compared to the UK average decrease of 0.8%. Annually, house price growth in the region is 3.9%, below the UK average of 5.2%. The fall in house prices last quarter needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade. Great Yarmouth recorded the biggest rise in price in the region over the past year with a 23% increase, followed by St Neots (18%) and Huntingdon (14%). At £190,984, the average house price in East Anglia is 3% below the UK average of £197,071. Cambridge remains the most expensive town in the region with an average price of £296,727. Lowestoft is the most affordable town with an average house price of £155,293. Greater London prices are now 1.6 times higher than those in East Anglia compared with 1.7 times in 2002 Q4. David Whitehead, Regional Manager, Halifax Estate Agency, comments: "The housing market in East Anglia has been more subdued in the second half of 2007. Annual house price growth in East Anglia, at 3.9%, is below the UK average of 5.2%. In the past quarter house prices fell by 1.3%. However, this needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade. The average house price in East Anglia now stands at £190,984, 3% below the UK average of £197,071. "The biggest rise in average house price over the past year was in Great Yarmouth, which saw an increase of 23% to £167,847. This was followed by St Neots with a rise of 18% to £243,218. "After Cambridge (£296,727), Sudbury (£260,651) is the most expensive town in the region. Lowestoft is the most affordable town (£155,293), followed by Wisbech (£157,892)." AVERAGE HOUSE PRICES IN THE EAST ANGLIA (ALL PROPERTIES) Prices shown in the tables below are arithmetic average prices of houses on which an offer of mortgage has been granted. These prices are not standardised and therefore can be affected by changes in the sample from quarter to quarter. Figures include properties sold for £1 million plus. POST TOWN AVERAGE HOUSE PRICE - £ 2006 AVERAGE HOUSE PRICE - £ 2007* % Brandon 173,919 173,793 0% Bury St Edmunds 223,430 241,358 8% Cambridge 261,510 296,727 13% Dereham 164,776 181,003 10% Diss 194,806 218,139 12% Ely 195,228 217,423 11% Great Yarmouth 136,775 167,847 23% Huntingdon 210,536 239,399 14% Ipswich 181,362 202,781 12% Lowestoft 142,901 155,293 9% Norwich 180,986 200,752 11% Peterborough 166,365 183,627 10% St Neots 206,436 243,218 18% Sudbury 244,488 260,651 7% Thetford 158,968 174,202 10% Wisbech 156,578 157,892 1% * 12 months to November. Over the last ten years Flats and Maisonettes in East Anglia have both seen the strongest price growth of 267% from £38,141 in Q4 1997 to £140,114 in Q4 2007. East Anglia 1997-Q4(£) 2007-Q4(£) 1997 Q4–2007 Q4 Average Annual % Change Bungalows 63,875 204,089 220% Detached 96,712 303,682 214% Flat & Mais. 38,141 140,114 267% Semi-Detached 58,262 190,044 226% Terraced 48,917 163,391 234% Annual Average Earnings £ April East Anglia UK 2005 34,506 31,485 2006 36,163 32,774 2007 35,985 33,736 Source: ONS Annual Survey of Hours and Earnings: Full-time males on adult rates, who have been in the same job for more than a year. Mean annual average earnings. [i did try to tab the figures to make it readable - but they get stripped out in this software] Quote Link to comment Share on other sites More sharing options...
HPCbeliever Posted January 19, 2008 Share Posted January 19, 2008 Also looked at Msgin's No. 5. Nice house. Saw an interesting house in Somersham - reduced by 50 grand! Quote Link to comment Share on other sites More sharing options...
redwing Posted January 19, 2008 Author Share Posted January 19, 2008 I'm lacking some bear food, tasting of Cambridge reduced prices though I must admit. Any juicy examples? Here you go Tone. Two Bed Terrace for £200k Get in quick before the auction. It's empty, and doesn't look that badly done up. And you can put a couple of immigrants (or students) in the self-contained annex. Quote Link to comment Share on other sites More sharing options...
drrayjo Posted January 20, 2008 Share Posted January 20, 2008 Interesting point is that now HIPS are available online you can get through the land registry copy to see that your No 5 here has a Paragon mortgage... Good skills ROC, and welcome. Quote Link to comment Share on other sites More sharing options...
Tonester Posted January 21, 2008 Share Posted January 21, 2008 Here you go Tone.Two Bed Terrace for £200k Get in quick before the auction. It's empty, and doesn't look that badly done up. And you can put a couple of immigrants (or students) in the self-contained annex. Looking at the dimensions - is it an annex... or a shed? Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted January 21, 2008 Share Posted January 21, 2008 today's evening news The odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data. Quote Link to comment Share on other sites More sharing options...
Bug16 Posted January 21, 2008 Share Posted January 21, 2008 (edited) I loved the below: "Long-term predictions suggest prices will continue to rise. Estimates from the National Housing Federation suggest that average house prices in East Anglia may rise to as much as £340,200 by 2012 - a rise of 52 per cent on current levels." Oh and: "However, this is not a matter of great concern - it is a natural process of finding a comfortable level." You mean reducing the price then? They're really pushing the VI spin at the moment in Cambridge! Edited January 21, 2008 by Bug16 Quote Link to comment Share on other sites More sharing options...
redwing Posted January 21, 2008 Author Share Posted January 21, 2008 Have you seen the latest Rightmove stats? - there's a link from the news blog. East Anglia Avg. Price Jan 08 £216,229 Avg. Price Dec 07 £221,931 Monthly Change -2.6% Avg. Price Jan 07 £217,354 Annual Change -0.5% Annual Change in East Anglia is now YoY negative. That's the most forward of the indices - asking prices rather than agreements or completions. Quote Link to comment Share on other sites More sharing options...
King Of Fools Posted January 21, 2008 Share Posted January 21, 2008 Anybody know what the Cambridge %YoY is? Quote Link to comment Share on other sites More sharing options...
msgin Posted January 21, 2008 Share Posted January 21, 2008 (edited) today's evening newsThe odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data. If you look on Nethouseprices - Gilmour Road, Cambridge http://www.nethouseprices.com/index.php?co...mp;pcsaCode=CB2 (hope the link works) Edit :- no it doesn't the highest selling price for that road within Brooklands ave is £775,000 in 2006. Makes me furious to see them trying to sell them at £910,000. I am assuming it is for the same house type. Would really love to go into their and see how low they would go on those properties. They started selling them in 2005. Edited January 21, 2008 by msgin Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted January 22, 2008 Share Posted January 22, 2008 the highest selling price for that road within Brooklands ave is £775,000 in 2006. Makes me furious to see them trying to sell them at £910,000. I am assuming it is for the same house type. I think there's a number of other roads in the same development aren't there? It's a real pain that the online house price stuff won't just give you all houses within, say, 400 yards of a given postcode. I recall stuff being advertised for around 1M there a year or so back so I'm guessing some went for a bit more than 775 although I could well be wrong. Would really love to go into their and see how low they would go on those properties. Don't forget to take a voice recorder of some sort so we can all hear it! Quote Link to comment Share on other sites More sharing options...
King Of Fools Posted January 22, 2008 Share Posted January 22, 2008 It's a real pain that the online house price stuff won't just give you all houses within, say, 400 yards of a given postcode. Using http://www.ourproperty.co.uk/ you can search for houses within 150m, 300m or 500m of a postcode. Quote Link to comment Share on other sites More sharing options...
ROC Posted January 22, 2008 Share Posted January 22, 2008 today's evening newsThe odd thing is that I'd expected it to rise given the number of newly listed very expensive properties on Brooklands avenue. Given that it didn't, I'd say that the actual fall for normal houses is probably greater than 5%. That's starting to look like crash territory, not just noise in the data. Once it's off the front page the link needs to change I think... http://www.cambridge-news.co.uk/cn_news_ca...e.asp?id=250269 Quote Link to comment Share on other sites More sharing options...
Zippy Posted January 23, 2008 Share Posted January 23, 2008 Finally I feel motivated to contribute: 58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000 house are particuarly welcome! Quote Link to comment Share on other sites More sharing options...
redwing Posted January 23, 2008 Author Share Posted January 23, 2008 Finally I feel motivated to contribute:58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000 house are particuarly welcome! Hi Zippy and welcome to HPC and the Cambridge discussion. I look forward to hearing more from you. Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted January 23, 2008 Share Posted January 23, 2008 (edited) Using http://www.ourproperty.co.uk/ you can search for houses within 150m, 300m or 500m of a postcode. Aha, thanks! Using that, here's the more expensive stuff on the same site sold previously. Driving past there, the newer stuff doesn't look much different though so maybe they've cut prices back already? edited:typo in link Edited January 23, 2008 by tbatst2000 Quote Link to comment Share on other sites More sharing options...
redwing Posted January 23, 2008 Author Share Posted January 23, 2008 Finally I feel motivated to contribute:58 new builds added to Rightmove in the last 24 hours by Bidwells.... Any guesses on how long it will take to sell them? Estimates on the £910,000 house are particuarly welcome! Yep, I've just checked myself. They are going wild with the new build promotion. Cambridge for sale is now up to 723 or which about 200 are new build. Who say's there's a shortage of houses? And I've found a bug in RM software. When searching for New Homes Only it yields an infinite number (I gave up at 2,400 houses). Quote Link to comment Share on other sites More sharing options...
Tonester Posted January 23, 2008 Share Posted January 23, 2008 We have a winner!!! http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy Tis the turd of the year! Quote Link to comment Share on other sites More sharing options...
Tonester Posted January 23, 2008 Share Posted January 23, 2008 Seriously though - Rightmove is going to shoot up 10% next month on this basis? Quote Link to comment Share on other sites More sharing options...
Zippy Posted January 23, 2008 Share Posted January 23, 2008 Yep, I've just checked myself. They are going wild with the new build promotion. Cambridge for sale is now up to 723 or which about 200 are new build. Who say's there's a shortage of houses? And I've found a bug in RM software. When searching for New Homes Only it yields an infinite number (I gave up at 2,400 houses). Nope - i think that's Arbury Park.... Quote Link to comment Share on other sites More sharing options...
Tonester Posted January 23, 2008 Share Posted January 23, 2008 Had to bite my tongue when I was speaking to someone who'd bought a new 4 bed terrace townhouse in the new Arbury council estate complex for almost £300k. Quote Link to comment Share on other sites More sharing options...
redwing Posted January 23, 2008 Author Share Posted January 23, 2008 We have a winner!!!http://www.rightmove.co.uk/viewdetails-999...=2&tr_t=buy Tis the turd of the year! It's leaning. I think it's sinking on one side into the flood plain. Reminds me of Pisa. Quote Link to comment Share on other sites More sharing options...
Bug16 Posted January 23, 2008 Share Posted January 23, 2008 Had to bite my tongue when I was speaking to someone who'd bought a new 4 bed terrace townhouse in the new Arbury council estate complex for almost £300k. 300k to live in Arbury?! Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted January 23, 2008 Share Posted January 23, 2008 300k to live in Arbury?! It's utterly bizarre isn't it? The strangest thing is that you can still buy something around the same size in a nice bit of Cambridge for that amount of money. Quote Link to comment Share on other sites More sharing options...
Tonester Posted January 23, 2008 Share Posted January 23, 2008 Probably like this one (now £280k) http://www.rightmove.co.uk/viewdetails-189...=2&tr_t=buy Quote Link to comment Share on other sites More sharing options...
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