Wednesday, Apr 29, 2015

Is this true? In my areas house prices are seeing BIG reductions!

BBC: UK house prices resume upward trend, says Nationwide

House prices across the UK are resuming an upward trend, according to the Nationwide building society.
Between March and April, prices rose by 1% - the largest monthly rise since June 2014.

Posted by hpwatcher @ 04:49 PM (7935 views)
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12 Comments

1. hpwatcher said...

It's a buyers market in my area - M25 and west. Last week a house I saw went from £420,000 to £390,000, another going from £395,000 to £275,000.

The market is DEFINITELY slowing - don't believe the NW bull.

Wednesday, April 29, 2015 04:51PM Report Comment
 

2. hpwatcher said...

Sorry reduced to £375,000 NOT £275,000!

Wednesday, April 29, 2015 04:52PM Report Comment
 

3. sneaker said...

Backwards-looking data, from before Labour came out against non-doms and BTL landlords became targeted.

Wednesday, April 29, 2015 05:20PM Report Comment
 

4. debtserf said...

There's never been a better time to buy.

Get in now, before it's too late.

Wednesday, April 29, 2015 05:35PM Report Comment
 

5. iguana said...

HP
Likewise, both here in north Glos and where we are looking the market has stagnated and started falling, long may it continue!

Wednesday, April 29, 2015 05:45PM Report Comment
 

6. Ll75 said...

I can believe this.

A 1 bed property that went up for £165k the end of last year (and sold)
I looked at an identical property, marketed for £175k just over a month ago, that went less than two days after I viewed it.
An Identical one across the road went up for £185k a few weeks ago and sold in under a week. Not sure of prices the above sold for, however the £185k one previously sold in July 2012 for £145k, and I must say looked in better condition back then.
The new build houses I looked into less than two months ago were starting at £202k, a new phase went up about two weeks ago starting at 210k. So at least in Essex this does seem to be true, from those two examples I have seen, identical properties are going up considerably more than I can save each month.

Wednesday, April 29, 2015 07:03PM Report Comment
 

7. hpwatcher said...

Likewise, both here in north Glos and where we are looking the market has stagnated and started falling, long may it continue!

I feel that NW are in some hyper-reality. With regards to the election, I can see a three way split: Labour/SNP/Plaid Cymru. If that is the case, I think falls in house prices will continue for a year or two. Then I see devaluation in sterling and big inflation, as QE resumes.

We all know the UK economy isn't going anywhere - and just look at the US?

Wednesday, April 29, 2015 07:27PM Report Comment
 

8. Dharmin said...

5 mins walk from my house in Uxbridge, a 2 bed bungalow with attached garage has just come in the market for £400K, the bungalow requires full renovation, lets see what price it gets sold off,

Wednesday, April 29, 2015 08:43PM Report Comment
 

9. brickormortis said...

Prices in Oxford going stupid. Very difficult to find a house not sold STC or under offer. £500,000 don't get you much any more!

Thursday, April 30, 2015 09:23PM Report Comment
 

10. a saver said...

Don't think I have ever seen so few for sale signs in this area (Dundee/Fife), it's ridiculous, especially at this time of year. So the story about shortage of supply keeping prices up might be true here. Maybe after the election...

Friday, May 1, 2015 05:03PM Report Comment
 

11. taffee said...

There was huge demand and lack of supply of shares during dotcom boom...then when
The bubble burst there was plenty of supply and no buyers

There is no huge lack of supply it's in the wrong hands I.e investors

Saturday, May 2, 2015 08:08AM Report Comment
 

12. clockslinger said...

HPwatcher @7, I don't understand. Why QE would need to be resumed by sterling being devalued? Surely that would weaken sterling further-er making things worse-er-er, wouldn't it?

Saturday, May 2, 2015 04:25PM Report Comment
 

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