Thursday, February 12, 2009

Just a bit of Thursday comedy

The 10 towns where house prices will bounce back first

I particularly like this comedic gem: "Islington, north London, has bucked the trend for falling house prices across the rest of the country as property values climbed 13.4 per cent in the last 12 months. Between December 2008 and last month the average price rose another 2.2 per cent to £584,206." Swiftly followed by the bargain of the week, two bed down from 430K to 390K - real world - NOT. Surely this only implies that the vendors in absolute abject denial live in Islington and have just continued to raise their asking prices and then sell for an apparent reduction.

Posted by bystander @ 06:54 AM (1090 views)
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10 thoughts on “Just a bit of Thursday comedy

  • Islington has parts where you would not want to park your car overnight and it will get worse as time moves on.

    A fools paradise in a downturn.

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  • I read that headline as: “The 10 towns where Times staff still own investment properties”

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  • I had an epiphanical moment whilst reading the article when it struck me that the article must be fantasy because Weston-super-Mare was clearly not in the list of 10.
    I can only guess it dropped off the list because of the recent and temporary loss of their pier.

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  • Amazing how many are titled “bargain properties” – I’ve got my chequebook at the ready for the bargain house at £1.3 million (down from £1.6m) – lets hope the banks will do an income stretch to 20 times first salary plus the second earner.

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  • it_is_going_with_a_bang says:

    I live in B & H area and property is not going up. What a load of cobblers.
    12 Estate agents offices have closed – thats just the ones ive noticed.
    A surveyor I work for sometimes has laid off all but 1 secretary.
    The estate agents are deserted – I have yet to pass one and see anyone other than staff in them.

    The wealth in B&H is built on property. In the last recession it was hit very badly indeed.
    The affordability is just nowhere near where it needs to be for the market to survive.
    The average house price? going up? No I think you will find its just the more expensive houses being dumped.

    They give examples of “potential price rises” and hope with drastic price cuts. Where is the logic in that???
    Once again they are reporting asking prices which means nothing. Who for instance is going to pay the asking price – anywhere???

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  • I particularly like the way they’re selling to all these imaginary buyers?

    If everyone’s broke and nobody can borrow, who’s doing “all” the buying?

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  • Another onanism piece for house-owning Times readers.

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  • As a nation, we just don’t get it do we? Already talk of a recovery. The treadmill has begun to turn, and we are all expected to jump in with massive borrowing once again to afford to live in a Chicken Coup. Yes, even battery hens have laws protecting them. The writer of this article just does not get it does he, maybe he believes, as millions do, that the road to Nirvana is ever rising house prices. If prices were to fall, then instead of borrowing £500K he may only need £250K to live in the same home. I know which I would wish for. I for one will let the prices come down, as surely they will, but it’s the just the thought processes of many that I don’t undersatnd.

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  • “Islington, north London, has bucked the trend for falling house prices across the rest of the country as property values climbed 13.4 per cent in the last 12 months.”

    According to the December 2008 Land Registry report Islington went DOWN 13.8% , so what are the Times talking about ?

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  • This is well worth reading……..Kind of old fashioned property porn of days long past………
    I say worth reading, because if you continue into the comments there are some absolute gems there. Well written,realistic and informative.
    I enjoyed reading every one of them……Great comments !!!

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