Tuesday, January 6, 2009

New Beemers all round – I see green shoots!

"House values start to rise again"

"House prices in parts of Lancashire are on the rise at the start of 2009 - with Preston leading the way. New figures released by the Land Registry, the official government register of all (sic) property sales, has revealed the average cost of a home in Lancashire is £154,922, an increase of 1.3% in three months up to December. In Preston, prices were up 6.1% in the same period......Estate Agents across the county said the prices are signs of the green shoots of recovery for the area's property market...." Blah, blah, blah. At least they used quotation marks for the headline.

Posted by crashpad4me @ 05:30 AM (1558 views)
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12 thoughts on “New Beemers all round – I see green shoots!

  • I doubt the data is statistically significant. What are the sample sizes ?

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  • last_days_of_disco says:

    I am wondering whether there will be a bull trap. I really think there may be. The house prices with the devalued pound may now bounce. This would be the ideal time to sell if you are stuck with a property you don’t want. But then again, that hasn’t happened in the US. hmmmm

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  • little professor says:

    Lies lies lies. The land registry report showed prices in Lancashire fell 1.3% last month alone – to suggest that prices are rising is an outright lie. Someone report them to the PCS.

    http://www1.landregistry.gov.uk/assets/library/documents/221282.pdf

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  • Have peoples earnings increased significantly over Christmas? I don’t think so.

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  • Why would anyone want to live in the wrong side of the Pennines, where it ALWAYS rains and there’s a plastic on every corner.

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  • it_is_going_with_a_bang says:

    Someone seems to have mixed up their + and -.

    Nice to see some people still see HIPS as being the problem.
    Which I can’t quite see, as there are plenty of homes for sale – it’s just nobody wants to buy them. Which is hardly HIPS related.

    More to the point HIPS is probably the only thing keeping Surveyors in business at the moment, can you imagine the consequences of only getting work when a sale is in progress?

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  • 1. last_days_of_disco said…

    “I am wondering whether there will be a bull trap. I really think there may be. The house prices with the devalued pound may now bounce. This would be the ideal time to sell if you are stuck with a property you don’t want. But then again, that hasn’t happened in the US. hmmmm”

    Prices can’t bounce unless the devalued pound/inflation leads to increased wage inflation. I can’t see that happening for months yet.

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  • I hate to say it on here but you only need another countries population being jeered up by a property programme and the fact that prices (to them) have dropped by 50% in the last year ………..

    Place in the Rain doesn’t quite have the same ring to it though I admit !

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  • Little professor… looks like total fiction in the articel. Have posted on the web site

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  • i live there and yes they are increasing. Going to get in there quick before another boom!

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  • Mystery solved. His figures are from here:

    http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/counties/html/county48.stm

    Which shows data from the quarter July – September 2008, NOT October – December 2008. The page itself was only updated on 17th November.

    All of which means David Coates is either a liar, stupid or both.

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  • That article, and the ones linked from it at the bottom of the page, all feature quotes from Georgina Cox of Moving Works estate agents. Sounds to me like she’s making press releases and LEP is falling for each and every one of them.

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