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Big surge in down-valuations as ‘surveyors predict housing market crash’


sancho panza

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Price Change History
06/09/2018 Price Changed: £140,000 £130,000
20/08/2018 Price Changed: £165,000 £140,000
04/04/2018 Price Changed: £180,000 £165,000
16/11/2017 Price Changed: £200,000 £180,000
06/10/2017 Price Changed: £210,000 £200,000
26/08/2017 Price Changed: £220,000 £210,000
14/08/2017 Initial entry found.

 

Price Change History
06/09/2018 Price Changed: £280,000 £280,000
06/09/2018 Price Changed: £295,000 £280,000
01/08/2018 Price Changed: £325,000 £295,000
17/05/2018

Initial entry found.

 

Price Change History
04/09/2018 Price Changed: £3,000,000 £2,200,000
24/03/2017 Initial entry found.

 

Random South Wales, loads more that are starting at 5 to 10k steps.

 

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10 hours ago, UmBongo said:

Here's hoping for the price drops too! I just saw a typical BTL type place (2 bedroomed flat with magnolia walls) that piqued my interest. It sold for £30k in 1995, went on yesterday at 'offers in excess of £125k' O.o

What sort of level do you think house prices need to come down to? Around what they sold for in 2003 perhaps? It would be helpful to guage what is a sensible level. :)

What is sensible?....I gave up on that idea a long time ago, especially as people became detached from the real value of what they were spending;if they had to pull the notes from their pockets they may not pay such silly money!...if you want a quantitative figure I  would go back to when salaries stopped really increasing (about 10~12 yrs ago) and when property prices didn't go ballistic (about 2005~06), but I have always worked on the basis of "is this purchase worth x number of hours work that I have to do?"....property at the moment is definitely not!

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2 hours ago, Banned said:

Its Property Log on Chrome, good app.

Yep. I use it too. It doe show detail text  like eas text like bee used to but prices are there.

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1 hour ago, MrXxx said:

What is sensible?....I gave up on that idea a long time ago, especially as people became detached from the real value of what they were spending;if they had to pull the notes from their pockets they may not pay such silly money!...if you want a quantitative figure I  would go back to when salaries stopped really increasing (about 10~12 yrs ago) and when property prices didn't go ballistic (about 2005~06), but I have always worked on the basis of "is this purchase worth x number of hours work that I have to do?"....property at the moment is definitely not!

Prices had gone utterly ballistic by 2003, in the year previous they were up 28% and had doubled from 1997.

Reality is a 3 bed terrace for 3 times salary, or a 3 bed semi for 4 times salary.

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22 hours ago, sleepwello'nights said:

9_9Well they're wrong: :P

UK house prices picked up last month, rising at the fastest annual rate since November, according to the Halifax.

In the three months to August, prices climbed by 3.7% from a year earlier, up from 3.3% annual growth in July.

https://www.bbc.co.uk/news/business-45446148

I believe NW reflects the south and Halifax is skewed more to the north of England so maybe the gap between north and south is narrowing a little.

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sleepwello'nights
1 hour ago, janch said:

I believe NW reflects the south and Halifax is skewed more to the north of England so maybe the gap between north and south is narrowing a little.

the So-Called BBC say they both cover the entire UK.  I think the ripple effect is still evident in the timing of house price changes. As London prices fall the prices changes in other parts of the UK can still continue to increase. I'm inclined to believe that prices will continue to fall in all areas south of the Midlands. Whether prices in areas north of the Midlands fall or not I don't know. I don't follow them. Anyway my post was just to be provocative to certain posters 9_9

Nationwide and Halifax

Perhaps the best known snapshots of the property market are provided by two of the UK's biggest mortgage lenders - the Halifax, now part of Lloyds Banking Group, and the Nationwide.

Both surveys cover the entire UK, but are based on a sample of each lender's own loans each month.

The prices measured are those agreed at the point when the mortgage is approved, not at the later point when the sale is completed.

The Nationwide and Halifax surveys use identical statistical methods.

However, because they use different samples the figures sometimes diverge, in terms of both the monthly price changes and annual trends.

Like the DCLG survey, they are based only on property sales financed by mortgage lending, ignoring sales which are transacted on a cash basis.

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On 07/09/2018 at 00:05, white110 said:
Price Change History
06/09/2018 Price Changed: £140,000 £130,000
20/08/2018 Price Changed: £165,000 £140,000
04/04/2018 Price Changed: £180,000 £165,000
16/11/2017 Price Changed: £200,000 £180,000
06/10/2017 Price Changed: £210,000 £200,000
26/08/2017 Price Changed: £220,000 £210,000
14/08/2017 Initial entry found.

 

Price Change History
06/09/2018 Price Changed: £280,000 £280,000
06/09/2018 Price Changed: £295,000 £280,000
01/08/2018 Price Changed: £325,000 £295,000
17/05/2018

Initial entry found.

 

Price Change History
04/09/2018 Price Changed: £3,000,000 £2,200,000
24/03/2017 Initial entry found.

 

Random South Wales, loads more that are starting at 5 to 10k steps.

 

Wow - the first one is a colossal change, over 40%. 

The last one though - I had no idea the whole of Wales was for sale.

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