Housing market’s North South divide widens

chucky

Taking out the house prices index info for me the interesting part of the article is the split between the North and South of England. houses seem to be selling in the South but not as much and as quickly in the North.

there will be areas that will have HPI whilst there will be others which will still have house price drops.

The housing market is splitting down the middle, with a scarcity of houses putting upward pressure on prices in the South of England, while difficult market conditions remain the key in feature in the north.

While house prices across the England and Wales were flat for the third straight month in total, Hometrack reports ‘the emergence of a clear split in market conditions’ between the north and south.

The business information provider cites the much quicker selling time in the south – below nine weeks in some places and as low as 5.8 in London compared with more than 10 weeks in the north and Wales – as evidence of a growing split.

Hometrack also warned that a full housing market recovery was some years away, labelling green shoots ‘an unsustainable and short term blip’.

Richard Donnell, director of research at Hometrack, said: ‘When demand does start to feed back it will do so relatively slowly starting in the equity driven markets of London and the south, and only filtering down the rungs of the housing ladder as the economic recovery starts to gain momentum.’

http://www.citywire.co.uk/adviser/-/news/property-and-mortgages/content.aspx?ID=351202&re=6297&ea=118560

geoffky

For once you are right...I keep hearing how houses are selling fast on here and even on hpc they are admitting the last few months have seen a bounce.

Where i live the market is the same as it was last year and very few sales are happening and prices are falling more slower than last year.

.So it must be the case that some places are doing well and other places are still not selling at any decent level.

I think though as we get in to winter the market here will just be the same but places that have had a rise in sales it will look like the market has fell on its !!!! again.. Out of the five houses we would go out and buy tomorrow if the price was right one sold in feb and the other four are still on the market after eighteen months at least with reductions from 290k down to 210k at the moment..if they would take 180 k today i would buy but alas i will wait for the market to do its work for me.. our average selling time for a house is now 292 days on the market..

mbga9pgf

South West is definately still struggling.

lostinrates

mbga9pgf wrote: »

South West is definately still struggling.

I'm seeing a real mix TBH, in my part of SW.

mbga9pgf

Round Swindon and just south of the M4 its Dire. Properties on for 18+ months with 20%+ reductions and no joy. Calne and Chippenham quite dire. All the quaint little villages doing fine though.,

Dan:_4

Im also seeing a real mix in the SE, but much more seems to be selling then 6 months ago.

lostinrates

mbga9pgf wrote: »

Round Swindon and just south of the M4 its Dire. Properties on for 18+ months with 20%+ reductions and no joy. Calne and Chippenham quite dire. All the quaint little villages doing fine though.,

Hmm. My looking area crosses over. Some quaint village properties ARE sticking, and some are going. TBH, it seems (bar pricing and comparitive value) to be little rhyme or reason to the movement (and indeed the pricing!) Same with farms: some seem to be taking an age (in fact even some that seem good value: there is one I think to be excellent value, but out of my price bracket, that if I were looking in that bracket I'd snap up, while other more expensive farms offering less are going ). I'm guessing thats because buying property is more than financial, and however we analyse the numbers some gut has got to come into the equation

mbga9pgf

lostinrates wrote: »

Hmm. My looking area crosses over. Some quaint village properties ARE sticking, and some are going. TBH, it seems (bar pricing and comparitive value) to be little rhyme or reason to the movement (and indeed the pricing!) Same with farms: some seem to be taking an age (in fact even some that seem good value: there is one I think to be excellent value, but out of my price bracket, that if I were looking in that bracket I'd snap up, while other more expensive farms offering less are going ). I'm guessing thats because buying property is more than financial, and however we analyse the numbers some gut has got to come into the equation

Is the farm the 4 bed detached by brinkworth on for 350K? Been to see it. Needs a LOT of work doing, rewiring etc and is right on top of the M4. Otherwise might have been tempted to throw in a "Cheeky offer".

Got a link?

Davesnave

mbga9pgf wrote: »

Round Swindon and just south of the M4 its Dire. Properties on for 18+ months with 20%+ reductions and no joy. Calne and Chippenham quite dire. All the quaint little villages doing fine though.,

Yes, but look at all the new build activity in that area. Plenty of dosh among the the village set, though.

lostinrates

mbga9pgf wrote: »

Is the farm the 4 bed detached by brinkworth on for 350K? Been to see it. Needs a LOT of work doing, rewiring etc and is right on top of the M4. Otherwise might have been tempted to throw in a "Cheeky offer".

Got a link?

No, I haven't seen that one. £350K ???? Farm, or farm house?

re my farm, no, no link to share.....I'm not going to do there advertising for them, especially as a nurse a small hope of a small price drop or a delay in sale till we could afford it, lol

mbga9pgf

lostinrates wrote: »

No, I haven't seen that one. £350K ???? Farm, or farm house?

re my farm, no, no link to share.....I'm not going to do there advertising for them, especially as a nurse a small hope of a small price drop or a delay in sale till we could afford it, lol

Farm house with 1 acre of paddock.

Its not in an ideal location though, plus the house needs gutting as I have said. Think it is way overpriced as it is as it literally overlooks the M4.