Tuesday, Sep 12, 2006

Home.co.uk - more realistic than most

Home.co.uk: Asking Prices Defy Rate Increase

Home.co.uk sees falling house prices in the uk easing up slightly...

Posted by c\'mon correction @ 07:17 PM (553 views)
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6 Comments

1. Titch said...

I went to a house auction today: 146 properties being sold by Halifax. All were vacant possession, so I'm fairly sure they are repossessions. Of the 146 sales only about 15 went for more than they had been bought for ( according to Nethouseprices.com)previously. For example, an appartment in Birmingham, 560,000 in April 04 sold today at 399,000. A flat in Wandsworth, 386,000 in June 05 sold for 300,000. Another in Birmingham lost 30,000 since February 06. A property that sold for 137,000 in February 05 could be picked up today for 81,500. Perhaps you'd like to live in Rossendale, Lancs. If you'd bought in July 05 you might have paid 70,000. If you moved there today...41,000. Woodthorpe Notts, 310k in June 05...220k in September 2006. The best one seemed to be in Southampton 499,000 in October 2003. Today it sold for 289,000. But I suspect that the Halifax will still claim that house prices are on the rise.

Tuesday, September 12, 2006 09:01PM Report Comment
 

2. Bubbles. . . said...

Any one see the front page of the express...House prices up again. Beginning to feel there will be no crash as well :(

Tuesday, September 12, 2006 09:03PM Report Comment
 

3. uncle chris said...

Is that the same express that predicted house prices will double again in the next 10 years! Bubbles, if it's on the front page of the express it's either a conspiracy theory or blatant VI propaganda. Believe me that the concept of spin, started by New Liebour has pervaded the media - especially people close to No.10 like Murdoch ... or is it the other way round. True, the influx of 600,000 poles and rich russians has held the market up for longer than we thought but the economics signs of distress are there. IVAs and Bankruptcies on the increase, repossessions on the increase, as individuals we now have more debt than the rest of Europe combined. This country's so-called financial "miracle" is built on a pack of cards, and the politicians and VIs know that, which is why we see the relentless spin telling us all is well. I've been seeing price reductions for over a year now and surprisingly, all but home.co.uk and hometrack reflect that. You know for yourself that the cost of living is well in excess of the official CPI figure.

Wednesday, September 13, 2006 08:51AM Report Comment
 

4. uncle chris said...

Incidentally Titch .... where do you find out about these repossession auctions?

Wednesday, September 13, 2006 08:53AM Report Comment
 

5. george monsoon said...

This is interesting reading, because contrary to the comment that asking prices are above the valued price, the graph indicates a steady decline. Or am I missing something vital?

Wednesday, September 13, 2006 11:26AM Report Comment
 

6. talking rot said...

Titch

Like Uncle Chris, I - too - am interested where you can find out about repossession auctions. I'm not a home-owner and unless there is a crash, or I can get hold of a repossed home at a good rate, I currently stand more chance of growing a second hole in my bottom then of affording a home.

Wednesday, September 13, 2006 12:51PM Report Comment
 

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