Current house price - historical level - where are we ?

housesitter

Where abouts do people think prices have regressed back to at the moment ?

What are people offering at (using sites like houseprices.co.uk) ?

Robert_Sterling_3

Q1. 3 July 2006
Q2 £183,500

Darth_Marty

In Pembrokeshire they are still steady at early-mid 2006 prices. Obviously there are exceptions but generally thats where we are.

Davesnave

Darth_Marty wrote: »

In Pembrokeshire they are still steady at early-mid 2006 prices. Obviously there are exceptions but generally thats where we are.

...And not much is moving in Pembs.

From my observations of the £300k - £500k price band, most have their fingers in their ears and are going 'La,la,la!'

How the hell are agents like JJ Morris surviving? Will they survive?

Squish_21

Depends on your area.

PasturesNew

The only way to tell is to pick a house you like at random, then knock a few quid off the asking price, then chuck the postcode for that road into houseprices.co.uk and scan down to see when one last sold for at that price... and it will be different for every road, village, town, city, county, house type.

Only YOU know where houses you are looking at are currently positioned.

For me, where I am right now, prices are back to December 2003, January 2004, based on what was sold last year.

QTPie

Our house is under offer for Q4 2006 price.

But as people have said, it will vary by area and probably house type within that too (i.e. one bedroom flats may depreciate quicker than larger 5 bedroom family homes...)

QT

Darth_Marty

Davesnave wrote: »

...And not much is moving in Pembs.

From my observations of the £300k - £500k price band, most have their fingers in their ears and are going 'La,la,la!'

How the hell are agents like JJ Morris surviving? Will they survive?

Well id have to disagree with you on that, property sales in pembs have increased in jan/feb a hell of a lot, expensive properties are still extremely slow to move but then in pembs its always been that way. Over the summer period a few will go as the influx of wealthy people increases but the mainstay of the pembs hpusing market is definitely the lower end of the market. Personally I think thats a good thing as hopefully it will mean the whole system gets a boot up the !!!! and at least starts moving slowly through the gears this year.

J.J Morris are a well established business with a loyal customer base and they excel at the agricultural side of things, added to their auctions id say that was why the do ok.
Id be more inclined to ask how agents like rk lucas stay in business!

GDB2222

The Halifax national average index is back to Jan 05 levels. However, the January index looks anomalous (as it actually went up!), so mid 2004 may be a better estimate.

The ratio of house prices to national average earnings is over 4.5, which is expensive by historical standards. A ratio of say 3.25 is probably the average. To reach that, prices would have to fall relative to earnings by nearly another 30%.

fimonkey

04, 05, 06,.. all those years still massively overpriced when looking at earnings to loan ratio..... so my personal fingers crossed.. more falls to come please! .. Bournemouth/Christchurch? .. I'd say ballpark 04.

Cissi

In our part of West London the peak came about 6 months later, not until spring -08, and I think the falls are delayed as well. Not sure what houses are actually selling for at the moment (nothing much happening!) but offers at mid-2004 levels are still seen as "insulting" by most vendors.