Monday, July 14, 2008

Only in my home county could this be true..!!!

Ribble Valley house prices up 17.1%

I found this article after chatting with two estate agents (one a very good friend) over the weekend. Although the rest of the country is now in a downturn, for some reason the Ribble Valley has escaped the carnage. I have known my friend for over 15 years and asside from his chosen profession, he is an honest bloke. Sales in the Ribble valley have actually increased since January and asking prices/sale prices are still rising. Something to talk about me thinks..

Posted by george monsoon @ 11:52 AM (2005 views)
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21 thoughts on “Only in my home county could this be true..!!!

  • musn't grumble says:

    I would want to get away from Preston too – it’s going the same way as Bradford, Burnley, Rochdale and Blackburn.

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  • This is the sort of rubbish reporting the estate agents have relied upon to force up prices everywhere over the last few years.

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  • beartil2010 says:

    ‘Experts nationwide have for months been predicting massive falls in property prices as the credit crunch takes hold.’

    Have they really? I had the impression they were all kicking and screaming about soft landings, fundamentals and pent-up demand.

    Cute article though

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  • george monsoon says:

    This is a real kick in the nuts for myself and all the other FTB’s in the Ribble Valley, at a time when everywhere else is falling in value, all the property close to home is going up.!

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  • An area with few transactions is going to show strange results, if there are just a few sales one or two big or small sales can skew the results either way.

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  • I read an upbeat article about the Lytham/St. Annes area recently (it caught my eye as I lived in a village called Wrea Green as a child).

    I believe BAE systems at nearby Warton may have some effect locally. Perhaps they have been awarded a large contract recently and this eis effecting the area ?

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  • Dead Spider says:

    But this news is based on the quarter to March 2008 ie sales agreed Dec07 .
    The sh*t has really hit the fan since then .

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  • There will always be pockets where properties dont fall as much or (possibly) at all, just as there will be places where properties fall further than the indexes, and just a there were places that didnt participate in the rises. Thats why you have to do some research both on the general position and the specific places and properties you are interested in.

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  • It’s rubbish. The EA’s you know are bullsh*tting you.

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  • eyeoftheweasel says:

    A friend of mine bought a house in the Ribble Valley back in the early 90s; I stayed there for the odd drunken night out in Preston, although I don’t think we ever ventured into Tokyo Joe’s (home of The Hit Man and Her). If memory serves me correctly he sold it a few years later for pretty much exactly what he bought it for.

    The comments at the bottom of the article are interesting. Just shows how you can make the same set of statistics imply basically whatever you want them to. (Actually, I used to do this myself in a very short-lived job I once had.)

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  • george monsoon says:

    This is not bull-S**t at all hpwatcher, my mate is as straight as they come. An odd choice of profession really for someone so honest.
    If you take a look around Ribble valley, you will notice that there are suddenly a lot of “sold” signs going up. Is this where all the priced out, but still rich southerners are turning to buy a house. After all, even though I would have to borrow 10 x my wage for an average Semi detatched, prices round here are still way below the national average.

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  • Providing one tiny little pocket of England that is seeing an anomoly is really clutching at straws.
    The data is over a reasonable sample size too but I’d like to see about 3/4 to see where Ribble Valley goes.

    The URL from land reg for Ribble Valley is here:
    http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/30ul.stm

    Frustrating George!

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  • Actually it probably due to the size of the sample:
    I looked for my neck of the woods and various places and those of a small sample size are showing freakish anomolys.

    This is from close to me. Look at West Somerset and then compare the sample size with those showing falls.
    I quick sniff around land reg highlights plenty like this.

    http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/40uf.stm

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  • george [email protected]
    “This is a real kick in the nuts for myself and all the other FTB’s in the Ribble Valley, at a time when everywhere else is falling in value, all the property close to home is going up.!”

    Patience george – Just wait and see – I’m sure this is either estate agents BS or an anomoly because we are only just beggining the crash. Ask Japanese Uncle about his experience in his native country – No area as large as the ribble valley can be immune . I used to live in Derby and it’s amazing how many of my old friends their think it will “escape the crash” because it’s traditionally some of the cheapest property in the country – they also didn’t seem to have seen the last crash at all in some respects – terraced houses went down by about only 1-2k in the last crash (they were mostly avalable for between 5-15k at the time).

    Patience george, it will happen – Just wait until prices really drop, then all our own sub-prime (Alliance &l eicester, Northern Rock, Bradford & BIngley self certification fraudsters) kicks in, when all the people who lied for finance, finally give up the ghost and stop paying their massive mortgages. Then we’ll see the tumble become a crash!

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  • indiablue19 says:

    You know, the Ribble Valley recently received some press from the talk-it-up property shows as now the best, [most exclusive, liveliest social life, happiest school children, whatever makes people spend inordinate money on dirt and cinder blocks], locale in Britain. Probably a temporary wave in the action following that. But nothing’s going to influence lenders to promote these whims over a longer term with no mortage funding to back it. A few with big money in their hand may be impressed, but bankers going down for the third time aren’t going to follow the property porn news to keep prices cranking. You’re chance is coming George.

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  • This is not bull-S**t at all hpwatcher, my mate is as straight as they come.

    I’m not saying it’s conscious; the EA’s I know don’t actually realise when they are doing it, they can’t help it. Moreover, just look at the comments at the bottom of the page.

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  • “I would want to get away from Preston too – it’s going the same way as Bradford, Burnley, Rochdale and Blackburn”

    Can you explain that comment please musn’t grumble?

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  • Some areas will remain expensive no matter what. Kensington will always be more expensive than Hackney, Windsor more than Slough; Bath more than Bristol, Altrincham more than Warrington, Beverley more than Hull, etc etc. The cheaper places are where people traditionally start on the housing ladder before building up equity and moving to the more expensive areas later in life. Kirsty & co weren’t entirely wrong when they advised people to start on the ladder in a cheaper area first in order to build up some equity – in normal, non-boom conditions that’s exactly the right advice. Hopefully for us here on HPC we’ll have built up a nice deposit by the time prices reach rock bottom, so we can skip straight to the nicer areas.

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  • Drewster….
    What are you saying? …that Preston, Bradford, Burnley, Rochdale and Blackburn aren’t nice areas?

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  • george monsoon says:

    Drewster – the chances of me saving a “nice deposit” are pretty slim given current inflation..
    I am currently putting away about 80 quid a month and thats pushing it.

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  • George, am I right in still thinking that Longridge is the des-res area of the Ribble Valley, could the stats be skewed by big number sales in this area.

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