Friday, May 18, 2007

Falls in the last quarter

BBC - House Prices report

Annual house prices up about 5% in the last year, but look at the figures, almost every region, county and sub-region is either falling or growing significantly slower in the last quarter, without the last two and the possible next interest rate rise being fed into the system. Did the January interest rate rise mark the beginning of the Bull market?

Posted by pr @ 05:22 PM (801 views)
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12 thoughts on “Falls in the last quarter

  • It was meant to say, the beginning of the end of the bull market!

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  • http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/counties/html/county37.stm

    The most amazing one, is that the London Borough of Richmond-Upon-Thames saw falls of 53% in the last quarter, that’s a 200% fall over the next year if sustained. Seems like this middle class suburbs have caught a terrible cold. Will the other’s follow?

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  • just took a squiz at londonn figures.detached lead the way,tereced prices are sedate and flat porices are calm. .taken with the national picture is this the patchy picture expects at the start of te crash.

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  • Donthaveone says:

    The commentry says “Did the January interest rate rise mark the beginning of the Bull market?” – Did (s)he mean to say “Bear market”?? Doesn’t make sense as is.

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  • Not sure where this comes from pr – can’t find it on the BBC website

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  • Can’t find this BBC report. Where is it?

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  • Look at where I live mid-sussex. See table below extracted from the BBC. I don’t believe the data and I have queried with Land Registry where the BBC source their data. According to this prices have already spiralled down in my area (Mid Sussex) by 27% in last Qtr and 17% in last yr on 171 transactions – and yet all the outward signs in local prpoerty papers is that everything is bouyant. Certainly nobody locally has said prices have gone down…are we in denial???

    All Detached Flat Semi Terraced
    DETACHED HOUSES – SORT BY:
    NAME AV PRICE (£) QUARTER ANNUAL SALES
    Chichester £476,817 8.4% 118.3% 189
    Horsham £460,292 9% 15.8% 198
    Arun £349,116 2.8% 133.5% 237
    Crawley £330,567 1.8% 29.9% 78
    Worthing £320,118 -0.2% 8.2% 116
    Mid Sussex £300,770 -27.8% -17.1% 171
    Adur £289,385 -2.9% -20.6% 43

    Sources:he outward signs are the local market is boyant!!!!Select figures for:

    All Detached Flat Semi Terraced
    DETACHED HOUSES – SORT BY:
    NAME AV PRICE (£) QUARTER ANNUAL SALES
    Chichester £476,817 8.4% 118.3% 189
    Horsham £460,292 9% 15.8% 198
    Arun £349,116 2.8% 133.5% 237
    Crawley £330,567 1.8% 29.9% 78
    Worthing £320,118 -0.2% 8.2% 116
    Mid Sussex £300,770 -27.8% -17.1% 171
    Adur £289,385 -2.9% -20.6% 43

    Sources: BBC

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  • The data for Richmond Upon Thames appears to be anomalous, the property prices are significantly lower for all properties except Dagenham – – Richmond is one of the most desirable areas in London, beautiful houses near the Thames and the Royal Parks. ( I live not too far away in Ealing and know this are well), Dagenham is possibly the least desirable area of London to live. way down the estuary dirty, industrial, poor and with poor links to London…The data for Richmond must be incorrect.

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  • Blacker’s, there is no report, tho I’m surprised that journalists haven’t been writing extensively about this, maybe they are spooked? You use the drop down forms to check actual price changes of each county, and region and draw your own conclusions. the first one you get to is the S.E., which is the most sedate, its the other areas that show falls, go back to S.E. and you can see the same trend, growth falling by a similar amount as other regions but from a higher original level of growth, which basically means that, if the trend continues, we’ll see net falls within about 3-6months time, I see no rebound with talk of more rate rises on the way.

    Donthaveone, yes, you are right! I corrected it in post 2, don’t know how to edit the main story once its posted. Its supposed to say the beginning of the end of the bull market!!

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  • Housedog. Inflation even in Northampton has gone down to around 40% from about 50%, very similar to the overall picture. Northampton is a different situation to most, it has a development agency and is one of the government’s defined growth areas. The point I made is, that, even places that are still growing are seeing a drop in inflation that is seen almost accross the board, those with 5% for the year are negative now, those at 10% for the year are closer 5% or 0% for the last quarter.

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  • dohousescrashinthewoods says:

    Tried one of the links and got this:

    UK House Prices
    Because of technical problems with the data provided by the Land Registry, this service is currently not available. We hope to restore it by the middle of the week. Apologies for the inconvenience.

    Did someone get slapped for letting the cat out of the bag?

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