neilrich Posted October 29, 2006 Author Share Posted October 29, 2006 The Regional Economy yet again! Does the average Geordie know what the actual base rate is? In my experience NO! Faith in jobs market 'drops' Oct 28 2006By The Journal Consumer faith in the Northern job market has fallen to a record low following the Bank of England's decision to raise interest rates, according to the latest Lloyds TSB Corporate Markets Consumer Barometer. The barometer, which surveys more than 2,000 people across 11 regions of the UK, found the balance of consumers in the North who believe general employment prospects to be better rather than worse fell from -18 in August to -39 in September - a record low since the survey began in November 2004. This fall was mirrored in the national average balance which dropped to its lowest ever point of -30%. In turn, the balance of respondents feeling more rather than less secure in their jobs, compared to the same time last year, fell from -14% in August to -21% in September. This is compared to a national average balance of -1% in September. Consumer gloom about general employment prospects appears to be the result of ongoing concern over inflation and interest rates. The number of consumers in the North expecting further interest rate rises over the next 12 months remained high but saw a marginal drop to +75% against +80% in August. By comparison, the national average balance of those anticipating interest rate rises was +71% - the same as the month before. Dave Walton, regional financial markets sales director for Lloyds TSB Corporate Markets, said: "Whilst the North of England this month seems to be bucking the UK trend, according to the latest job security and prospect figures, there is evidently a sense that things are not going to improve in the short term as consumers anticipate a further rate rise to 5%." "Consumers' faith in the job market has clearly been shaken by the recent rate rise and there is evidently a sense that things are not going to improve with inflation remaining above target." Quote Link to comment Share on other sites More sharing options...
Smarter than the average bear Posted October 30, 2006 Share Posted October 30, 2006 Cheer up, Neil, you'll live longer! Quote Link to comment Share on other sites More sharing options...
Quokka Posted October 31, 2006 Share Posted October 31, 2006 Cheer up, Neil, you'll live longer! but he's always smiling Quote Link to comment Share on other sites More sharing options...
neilrich Posted October 31, 2006 Author Share Posted October 31, 2006 but he's always smiling You're quite correct, I hear it time and time again from all manner of people. Perhaps the reason being is that I choose to live in the real world and NOT Cloud Cuckoo Land where our friend NO SMARTER THAN THE AVERAGE BULL chooses to live. Quote Link to comment Share on other sites More sharing options...
Smarter than the average bear Posted October 31, 2006 Share Posted October 31, 2006 (edited) Smile and the world smiles with you; cry and you cry alone. Edited October 31, 2006 by Smarter than the average bear Quote Link to comment Share on other sites More sharing options...
Chriso Posted October 31, 2006 Share Posted October 31, 2006 Just walked through the door from the Newcastle Keith Pattinson auction and thought I'd post my findings. In total, I saw 105 properties go through auction (missed the first 4) and in total, there were 28 confirmed sales making a total sales % of 26.6%, roughly only 1 in 4 properties selling. The highlights for the bulls were a very badly run down commercial property in a poor part of town sellign for £77,000 (guide price of £20,000 to 45,000), and the odd terrace in cheaper areas seemed to fare best of the rest along with a couple of lower end 2 ad 3 bed semi's. The rest of the news is all on the positive for the bears. As suspected by many on here, the worst faring out of all properties were the new build 'executive apartments'. There were 6 in total, none of which got even close to their guide (including 55 Degrees north and 'Walkergate' in Durham), the latter of these had a guide of £270,000 to £300,000 but couldn't even muster a bid at £200,000. I'd like to have seen the old boy keep dropping lower to see how low it would need to get for someone to stick their arm up. Also, lot 114 was listed with snow on the lawn, which is strange saying how we havent had snow for 7 months. Possibly most telling was that at the start of the auction I struggled to get a seat, and ended up having to sit right at the front. With about 10 properties to go I glanced round to find an almost empty room. Wouldn't surprise me to find out most in the room were the sellers. London, the South East and Northern Ireland may well be posting gains, but the North East has been dead for ages, and thisd auctin proves it. Lets see how the November hike affects the next sale! 20% sales anyone? Quote Link to comment Share on other sites More sharing options...
neilrich Posted October 31, 2006 Author Share Posted October 31, 2006 Just walked through the door from the Newcastle Keith Pattinson auction and thought I'd post my findings. In total, I saw 105 properties go through auction (missed the first 4) and in total, there were 28 confirmed sales making a total sales % of 26.6%, roughly only 1 in 4 properties selling. The highlights for the bulls were a very badly run down commercial property in a poor part of town sellign for £77,000 (guide price of £20,000 to 45,000), and the odd terrace in cheaper areas seemed to fare best of the rest along with a couple of lower end 2 ad 3 bed semi's. The rest of the news is all on the positive for the bears. As suspected by many on here, the worst faring out of all properties were the new build 'executive apartments'. There were 6 in total, none of which got even close to their guide (including 55 Degrees north and 'Walkergate' in Durham), the latter of these had a guide of £270,000 to £300,000 but couldn't even muster a bid at £200,000. I'd like to have seen the old boy keep dropping lower to see how low it would need to get for someone to stick their arm up. Also, lot 114 was listed with snow on the lawn, which is strange saying how we havent had snow for 7 months. Possibly most telling was that at the start of the auction I struggled to get a seat, and ended up having to sit right at the front. With about 10 properties to go I glanced round to find an almost empty room. Wouldn't surprise me to find out most in the room were the sellers. London, the South East and Northern Ireland may well be posting gains, but the North East has been dead for ages, and thisd auctin proves it. Lets see how the November hike affects the next sale! 20% sales anyone? Thanks for that, a great post, can you just walk in off the street or do you have to register your interest before the event? Quote Link to comment Share on other sites More sharing options...
Chriso Posted October 31, 2006 Share Posted October 31, 2006 Thanks for that, a great post, can you just walk in off the street or do you have to register your interest before the event? You just walk in, you only have to register if you want to bid. It's worth a visit, if only just to see the look on the auctioneers face when he has another new build executive apartment to try and flog. Quote Link to comment Share on other sites More sharing options...
Quokka Posted November 1, 2006 Share Posted November 1, 2006 London, the South East and Northern Ireland may well be posting gains, but the North East has been dead for ages, and thisd auctin proves it. Lets see how the November hike affects the next sale! 20% sales anyone? I have a feeling the prices up north will drop more than the south this time. We keep hearing about the huge bonuses in the City, but not much of this in the Toon. Quote Link to comment Share on other sites More sharing options...
abaxas Posted November 1, 2006 Share Posted November 1, 2006 I have a feeling the prices up north will drop more than the south this time. We keep hearing about the huge bonuses in the City, but not much of this in the Toon. With that wonderful 1.9% HPI we had last year! Things are back to normal... screwed again :< Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted November 1, 2006 Share Posted November 1, 2006 I have a feeling the prices up north will drop more than the south this time. We keep hearing about the huge bonuses in the City, but not much of this in the Toon. I think you are being far too pessimistic; My friend got a £50 M&S voucher as a Christmas bonus last year. He was hoping to invest it in BTL executive flats in Newcastle! Quote Link to comment Share on other sites More sharing options...
Smarter than the average bear Posted November 1, 2006 Share Posted November 1, 2006 I have a feeling the prices up north will drop more than the south this time. We keep hearing about the huge bonuses in the City, but not much of this in the Toon. Wanna hear about mine? Roughly equivalent to eight months mortgage payments. Nice. Quote Link to comment Share on other sites More sharing options...
SpoonUnit Posted November 1, 2006 Share Posted November 1, 2006 Wanna hear about mine? Roughly equivalent to eight months mortgage payments. Nice. That's odd. I thought estate agents got their bonuses at Christmas. Quote Link to comment Share on other sites More sharing options...
Chriso Posted November 1, 2006 Share Posted November 1, 2006 For those interested, the Middlesborough Auction results are through aswell. 5 out of the 19 sold, none of which broke through the top estimate. I make that 26% for Middlesborough. Its saying somethign when an area has a 4 bedroom terrace with front and rear gardens isn't sold with a guide of 50-70k (Surtees Walk, Newton Aycliffe) The North East is sinking, quick. The IR rise(s) should get some YOY losses on the board before the spring. Quote Link to comment Share on other sites More sharing options...
Smarter than the average bear Posted November 2, 2006 Share Posted November 2, 2006 That's odd. I thought estate agents got their bonuses at Christmas. There you go then, you can bin another daft "vested interest" theory. Quote Link to comment Share on other sites More sharing options...
Quokka Posted November 2, 2006 Share Posted November 2, 2006 Wanna hear about mine? No Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted November 3, 2006 Share Posted November 3, 2006 Smile and the world smiles with you; cry and you cry alone. Brilliant retort. Quote Link to comment Share on other sites More sharing options...
Inky Posted November 3, 2006 Share Posted November 3, 2006 Just to change the subject, I saw a rather strange house on the front page of the Journal's Homemaker on September 30th, priced at £460K I'm guessing there hasn't been much interest, as it's now in Pattinson's next auction , check out the price: http://www.pattinson.co.uk/Public/content/...-Sale/62500.htm Original article (no pictures) is here: http://icnewcastle.icnetwork.co.uk/homemak...-name_page.html Any thoughts? Inky Quote Link to comment Share on other sites More sharing options...
Smarter than the average bear Posted November 3, 2006 Share Posted November 3, 2006 (edited) Too chintzy for my taste. And it's in the à rse-end of nowhere. Edited November 3, 2006 by Smarter than the average bear Quote Link to comment Share on other sites More sharing options...
Quokka Posted November 3, 2006 Share Posted November 3, 2006 Just to change the subject, I saw a rather strange house on the front page of the Journal's Homemaker on September 30th, priced at £460K I'm guessing there hasn't been much interest, as it's now in Pattinson's next auction , check out the price: http://www.pattinson.co.uk/Public/content/...-Sale/62500.htm Original article (no pictures) is here: http://icnewcastle.icnetwork.co.uk/homemak...-name_page.html Any thoughts? Inky Location-Location-Location? Shit-Shit-Shit! (hope you don't live there) Quote Link to comment Share on other sites More sharing options...
Inky Posted November 3, 2006 Share Posted November 3, 2006 Luckily I don't live anywhere near there (and if I had that money to spend, I wouldn't be spending it here - I would be leaving the country!) The Homemaker is getting increasingly hilarious, especially the private sale ads they've had to put in the back of the main paper because there's not enough room in the supplement... eg "investment" opportunities, holiday homes abroad (maybe a bit of belt-tightening going on there?)... And the strange housebuilders' offers too, like buy 75% of this flat and then pay us the 25% back in 5 years' time... how do you save the 25% you couldn't afford in the first place? Does anyone know how many properties sold in the last Pattinson sale , percentage-wise? I like to taunt bulls with this at work... if all these city centre flats are so great, why aren't they selling... or even tenanted?! Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted November 3, 2006 Share Posted November 3, 2006 Does anyone know how many properties sold in the last Pattinson sale , percentage-wise? I like to taunt bulls with this at work... if all these city centre flats are so great, why aren't they selling... or even tenanted?! Hint: Try looking at post #882 in this thread: http://www.housepricecrash.co.uk/forum/ind...742&st=870# Quote Link to comment Share on other sites More sharing options...
Inky Posted November 3, 2006 Share Posted November 3, 2006 Hint: Try looking at post #882 in this thread: http://www.housepricecrash.co.uk/forum/ind...742&st=870# Totally missed that, thanks! Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted November 3, 2006 Share Posted November 3, 2006 Totally missed that, thanks! You mean you didn't carefully read the previous 60 pages of this thread before posting? Only kidding, nither did I! Glad to have been of assistance. Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted November 3, 2006 Share Posted November 3, 2006 (edited) Sorry, duplicate post! Edited November 3, 2006 by redalert Quote Link to comment Share on other sites More sharing options...
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