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Hometrack - Down 4.4%

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Not sure if current as I can't find the data on the website.

http://www.aboutproperty.co.uk/news/house-...036;1233421.htm

Hometrack: House prices down 4.4%

Monday, 28 Jul 2008 00:05

Hometrack: House prices down 4.4% House price falls have continued to accelerate in July, according to latest data from Hometrack.

The property intelligence organisation recorded an annual fall of 4.4 per cent in property prices in July.

This is the lowest annual rate of growth since the survey began in 2001, and illustrates an increase in the speed of decline from the 3.2 and 1.9 per cent falls recorded in June and May.

Prices fell 1.2 per cent between July and June alone, with falls located largely in the south-east of England.

"Indicators of market activity across the housing market remain weak with the survey highlighting a 20 per cent drop in demand over the last three months," commented Richard Donnell, Hometrack's director of research.

The number of buyers registering with estate agents fell by 6.4 per cent in July, following similar declines in the two prior months.

These figures support those of the National Association of Estate Agents (NAEA), which show property transactions have now fallen to historically low levels.

"Transaction volumes have been the greatest casualty of the decline in demand over the last 12 months - the vast majority of homeowners simply do not need to move," said Mr Donnell.

"This is also reflected in the fact there has been no major expansion in the supply of homes for sale over the last quarter."

Homes now sit on the market for an average of 11 weeks, showing a slight increase over the last two months, according to Hometrack.

Furthermore, homes now achieve just 90.9 per cent of their asking prices, down from 92.8 per cent in May.

"With no immediate end in sight to the current uncertainty, activity levels are likely to remain suppressed with prices remaining under pressure into the autumn," concluded Mr Donnell.

Chris O'Toole

Edited by Buffer Bear

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http://www.citywire.co.uk/adviser/-/news/p....aspx?ID=309501

Hometrack: House prices fall 1.2% in July

By Iain Martin | 00:01:00 | 28 July 2008

The housing market has settled into a slump as house prices fell for the tenth month in a row, dropping 1.2% in July, according to property market watcher Hometrack.

Hometrack figures show July’s price drop has wiped £2,000 from the value of the average house which now stands at £168,500. Over the last year about 4% has been knocked off house prices equal to about £7,800 from this time last year when the average house price was £176,300.

Hometrack said every test of activity in the market showed the slowdown was gathering pace.

‘Indicators of market activity across the housing market remain weak with the survey highlighting a 20% drop in demand over the last three months,’ said Richard Donnell, director of research at Hometrack. ‘Transaction volumes have been the greatest casualty of the decline in demand over the last 12 months, the vast majority of homeowners simply do not need to move.’

The time it takes to sell a property jumped by almost a week to an average of 11 weeks, rising from 10.3 weeks in June. Homeowners pushing for a quick sale have had to accept just 90.9% of their asking price falling from 91.6% last month.

Donnell said recent price falls have been concentrated in southern England. Despite this the survey revealed prices fell across 64.9% of the country compared with 58.9% in June.

‘The majority of recent price falls have been concentrated in southern England where prices have declined off a relatively high base after the strong growth through 2006 and the first half of 2007,’ said Donnell.

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http://property.timesonline.co.uk/tol/life...icle4413066.ece

From The TimesJuly 28, 2008

More pain for homeowners in the South

Judith Heywood, Deputy Property Editor

House prices continued to fall last month, with the steepest decline being experienced in London and southern England.

The average property price in England and Wales fell for the tenth month in July, dropping a further 1.2 per cent to £168,500, an average last recorded in October 2006. According to the latest housing market survey from Hometrack, prices are now down 4.4 per cent on a year ago.

The housing data company suggests that prices have fallen by 1.3 per cent in the South West, South East and London in the past month. Prices in the South West are now 5.2 per cent lower than a year ago, while those in Greater London and the South East have dropped by 5.1 per cent and 4.6 per cent respectively.

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

By Brian Swint

July 28 (Bloomberg) -- U.K. house values fell by the most in at least seven years in July and the property slump will continue for months, Hometrack Ltd. said.

The average cost of a residential property in England and Wales slipped 4.4 percent from a year earlier to 168,500 pounds ($336,000), the London-based research company said today in a statement. That's the biggest annual drop since the index started seven years ago. Prices fell 1.2 percent from June.

``With no immediate end in sight to the current uncertainty, activity levels are likely to remain suppressed with prices remaining under pressure into the autumn,'' said Richard Donnell, director of research at Hometrack, in an e-mailed statement. Prices ``are now back to levels last seen in October 2006.''

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http://www.independent.co.uk/incoming/hous...ees-878692.html

House prices plunge again – as estate agents raise their fees

By David Prosser, Cahal Milmo, Amol Rajan and Kate Hughes

Monday, 28 July 2008

Sellers face a double whammy of falling prices and a bigger cut for the estate agent. Many of Britain's biggest estate agents are raising their prices in a desperate bid to increase their earnings from the ever-dwindling number of homes they are now able to sell.

Leading agents have suffered a disastrous fall in income as the housing market has gone into reverse, with Hometrack, a property market analyst, warning today that prices fell for the 10th month running in July. The average home has lost 1.2 per cent of its value during July and is now worth 4.4 per cent less than a year ago.

As a result, anyone who does not need to sell their property has opted not to do so, with the number of transactions around the country falling by 3 per cent in July alone, Hometrack reports. In some areas, the slowdown is even more dramatic, with the East Midlands, for instance, seeing almost 8 per cent fewer transactions in July compared to June. Hometrack does not cover Scotland and Northern Ireland.

A spokeswoman for Kinleigh Folkard & Hayward, a London-based estate agency, said the depressed state of the market had left it with no choice but to raise its average fee to 2 per cent of the sale price. "Our fees have gone up because of the nature of the property market as it is – we are having to do more to find buyers for our customers," she said. "In that situation, it is inevitable that fees will have to go up – we have 50 branches across London and have had to raise our fee across the board."

Parviz Khan, a branch manager at Birmingham-based estate agent Abbey Estates, said: "Our sales have just completely dried up and did so pretty rapidly once the crunch set in toward the end of last year. We've been forced to raise client fees in some areas to remain competitive."

Colin Nagle, a sales manager, at Roberts Newby, a Buckinghamshire agent, said: "What is happening is that the flexibility in fees that was there when the market was strong has now disappeared. We are all spending more on marketing when income is much less than it would have been this time last year."

The increased cost of estate agents' fees leaves sellers facing a double whammy of bad news. In addition to being forced to accept substantially lower offers for their homes, many sellers now have no choice but to hand over a larger slice of what they do get to their agent. An increase from 1.5 per cent to 2 per cent in the estate agent's fee on the sale of the £228,000 average price of a detached home would leave the seller paying costs of £4,560, some £1,140 more than in the past.

Hometrack said the number of new buyers on estate agents' books had fallen by more than6 per cent this month. Sellers now get just 90 per cent of the asking price, the lowest level since the survey began in 2001, and on average a property will spend almost twice as long on the market today as it did last summer.

Richard Donnell, Hometrack's director of research, said: "Transaction volumes have been the greatest casualty of the decline over the past year – the majority of homeowners do not need to move. We are only going to see around 750,000 transactions this year compared with 1.2 million last year. Only 4.5 per cent of the market will change hands. Agents need turnover to drive their income, and one option is to put up fees."

However, consumer groups said property sellers should not have to suffer twice at the hands of the collapsing market.

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And to top it off...

http://www.independent.co.uk/life-style/ho...ars-878696.html

Housing market will bounce back in five years

By Terri Judd

Monday, 28 July 2008

There is a glimmer of hope for homeowners today – but only for those who can hold their nerve for at least two years.

The National Housing Federation insists that house prices will, in fact, dramatically rise over the next five years but only after a difficult 18 months.

Research by independent economists published today indicates that the average house price in England will jump 25 per cent over the next five years to £274,700. But the reversal in the current slump is not expected for at least two years.

And

http://www.guardian.co.uk/money/2008/jul/2...prices.property

Property market: House prices forecast to rise by 25% over next five years

Alex Berry The Guardian, Monday July 28 2008

Property prices are forecast to rise by 25% in the next five years, according to a report that predicts the market will bounce back from its current slump by 2011.

Next year will see a modest 2.1% fall and by 2010 the market will gradually start to recover. The year after, prices will start to soar and by 2013 the average cost of a home in England will have risen by a quarter to £274,700, according to research carried out for the National Housing Federation.

The report's authors make clear prices still have some way to fall before they have bottomed out, and will have dropped 7-8% from their peak before they recover.

Other figures out today, from the property intelligence group Hometrack, show house prices falling for the 10th month in a row during July, losing a further 1.2% of their value, meaning the average cost of a home has slumped by 4.4% during the past year.

Hometrack reported price falls in 65 postcode districts in England and Wales during the month, with demand from potential buyers continuing to drop and the number of properties on the market and time taken to sell them rising.

:lol::lol::lol::lol:

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The year after, prices will start to soar and by 2013 the average cost of a home in England will have risen by a quarter to £274,700

and banks will be lending 10x incomes........what are these people on?

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"Next year will see a modest 2.1% fall and by 2010 the market will gradually start to recover." :lol:

This statement in itself shows to me how out of touch the authors are. Looks like were currently heading for at least 15-20% falls this year alone, so with that in mind, we can probably deduce the same for next year which means they're way out on the 'modest fall' so will likely be way out on the recovery date of 2010.

Ironically, the report is called 'Home Truths'.

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Prices fell 1.2 per cent between July and June alone, with falls located largely in the south-east of England.

Sig. Ni. Fi. Cant!

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HomeTrack 4.4% down

Halifax 6.2% down

Next indicies please.

Nationwide. End of the week.

Getting bored of onesy twosey percents. I want a 3 percent drop on one of these now otherwise it's just not going to get my rocks off anymore.

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  • 396 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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