Halifax down 0.5% MoM, 15% YoY

carolt

westv wrote: »

That's why I put (??). I would have said they are more common but still a small percentage of the overall figure. I don't have percentages. Do you?

No, I don't - would be interesting to see.

I still fundamentally disagree, though.

If 1 house sells in a street - and let's face it, unlikely to be more than 1 in the current climate, than that house sets the price for the whole street, repos or not.

Even more so with new builds, where they're all basically the same.

Speaking as a potential buyer, if I knew no 3 in a street had sold as a repo or at auction for 100K, I'd be unlikely to offer more for no 5, just because it was now being sold on the 'open market'.

Auctions and repos are part of the open market, not some weird unrelated hinterland.

Harry_Powell

carolt wrote: »

No, I don't - would be interesting to see.

I still fundamentally disagree, though.

If 1 house sells in a street - and let's face it, unlikely to be more than 1 in the current climate, than that house sets the price for the whole street, repos or not.

Even more so with new builds, where they're all basically the same.

Speaking as a potential buyer, if I knew no 3 in a street had sold as a repo or at auction for 100K, I'd be unlikely to offer more for no 5, just because it was now being sold on the 'open market'.

Auctions and repos are part of the open market, not some weird unrelated hinterland.

Have you ever been to a property auction, carolt?

loueyn

HAMISH_MCTAVISH wrote: »

Why include all the fire damaged, tenant vandalised, half gutted or uncared for dregs of the market? It serves no purpose for practical comparisons of quality properties that most normal people would actually want to buy.

We include all the people on 250k a week when it comes to this so called 'average wage' everyone's always harping on about. I guess by that logic if we include all wages for the average buyers wage you should include all houses for the average priced property.

Just a thought :-)

carolt

Harry_Powell wrote: »

Have you ever been to a property auction, carolt?

Why do you ask?

Harry_Powell

carolt wrote: »

Why do you ask?

Two trains of thought... If you have been to property auctions and:

1) feel that the properties there are the same in quality, etc. to those you can purchase via a traditional estate agency, then why worry about the Land Registry valuations, simply go to auctions and buy your house there?

2) feel that the properties at auction are in some way of a lesser quality than those you can purchase via a traditional estate agency, simply buy your house via an estate agent.

With all types of auctions, such as car or antiques, you expect to pay less there than using the traditional method, such as car showroom or "Yea Olde" antique shop.

Why do you feel that you should pay auction prices for goods sold via traditional methods?

HAMISH_MCTAVISH

carolt wrote: »

No, I don't - would be interesting to see.

I still fundamentally disagree, though.

If 1 house sells in a street - and let's face it, unlikely to be more than 1 in the current climate, than that house sets the price for the whole street, repos or not.

Even more so with new builds, where they're all basically the same.

Speaking as a potential buyer, if I knew no 3 in a street had sold as a repo or at auction for 100K, I'd be unlikely to offer more for no 5, just because it was now being sold on the 'open market'.

Auctions and repos are part of the open market, not some weird unrelated hinterland.

Yes but if number 3 on the street had been gutted of all it's fixtures and fittings by a dodgy owner/tenant before it was repo'd and sold at auction, and needed 50K + spent on it to make it habitable, how would that be a valid comparison?

carolt

True, but I don't think that applies to all repos.

carolt

Harry_Powell wrote: »

Two trains of thought... If you have been to property auctions and:

1) feel that the properties there are the same in quality, etc. to those you can purchase via a traditional estate agency, then why worry about the Land Registry valuations, simply go to auctions and buy your house there?

2) feel that the properties at auction are in some way of a lesser quality than those you can purchase via a traditional estate agency, simply buy your house via an estate agent.

With all types of auctions, such as car or antiques, you expect to pay less there than using the traditional method, such as car showroom or "Yea Olde" antique shop.

Why do you feel that you should pay auction prices for goods sold via traditional methods?

I'm not looking to buy at the moment so I'm looking neither at EAs nor at auctions.

If I was looking to buy, of course I'd buy at auction if it was cheaper.

Wouldn't you?

HAMISH_MCTAVISH

carolt wrote: »

True, but I don't think that applies to all repos.

I think it applies to enough that including them in the stats would be meaningless.

bluey890

carolt wrote: »

I'm not looking to buy at the moment so I'm looking neither at EAs nor at auctions.

If I was looking to buy, of course I'd buy at auction if it was cheaper.

Wouldn't you?

Are you renting from a BTL landlord then?
I'll let you pitch a tent in my garden - it will save you money.