Rents to "Rise Sharply"

IveSeenTheLight

the_ash_and_the_oak wrote: »

w most its probably a bit of both..people taking their own areas to be representative of the UK as a whole - and kind of understandable,,

It's totally not understandable.
I wouldn't compare one property with another from the opposite side of the same town. As an example, is a 2 bed flat in Richmond similar to a 2 bed flat in Kensington, Thamesmead and Camberwell?
You really need to localise much closer than that

the_ash_and_the_oak wrote: »

price direction across the UK throughout the bubble has been broadly similar

Sorry, your wrong here, some areas have suffered much worse than the UK average and others much better.

I once provided a link to the last crash detailing areas that fully recovered in price within one year of their falls, while the UK average took 8 1/2 years to recover.

Graham_Devon

IveSeenTheLight wrote: »

Sorry, your wrong here, some areas have suffered much worse than the UK average and others much better.

Really?

Mindboggling!

the_ash_and_the_oak

IveSeenTheLight wrote: »

It's totally not understandable.
I wouldn't compare one property with another from the opposite side of the same town. As an example, is a 2 bed flat in Richmond similar to a 2 bed flat in Kensington, Thamesmead and Camberwell?
You really need to localise much closer than that

definitely feeling this. but haven't really suggested otherwise imo. trying to suggest that when people are talking about the UK they do it through a lens of their own town

Sorry, your wrong here, some areas have suffered much worse than the UK average and others much better.

Well thats averages for you imo.

But overall think the price direction experience of any 2 regions of the UK over the last 15 years will be closer together than the experiences of California and..say.. North Dakota

IveSeenTheLight

Graham_Devon wrote: »

Really?

Mindboggling!

Only for you Graham

IveSeenTheLight

the_ash_and_the_oak wrote: »

definitely feeling this. but haven't really suggested otherwise imo. trying to suggest that when people are talking about the UK they do it through a lens of their own town

I can understand in a general sense of what you are saying.
I've many a times reminded people when talking about prices (or rents) that they should look locally as their area will probably not be following the UK average

the_ash_and_the_oak wrote: »

But overall think the price direction experience of any 2 regions of the UK over the last 15 years will be closer together than the experiences of California and..say.. North Dakota

I'm totally not interested in what the house prices in America are doing.
Your also hedging your bets better by stating a longer timeframe i.e. 15 years.

The important thing however is that we all realise that the local market is likely to be different from the UK average

the_ash_and_the_oak

IveSeenTheLight wrote: »

I'm totally not interested in what the house prices in America are doing.
Your also hedging your bets better by stating a longer timeframe i.e. 15 years.

Ah fair enough, apologies about the US thing. Really just wanted to use an example of a market where regional differences are much more marked than UK as a comparison point

Not really hedging any bets tbf - just wanting to use a time period that shows that while America is famed for its real estate bubble in some states it didn't actually have one. No problem in dropping the US comparisons tho imo

IveSeenTheLight

the_ash_and_the_oak wrote: »

Ah fair enough, apologies about the US thing. Really just wanted to use an example of a market where regional differences are much more marked than UK as a comparison point

Not really hedging any bets tbf - just wanting to use a time period that shows that while America is famed for its real estate bubble in some states it didn't actually have one. No problem in dropping the US comparisons tho imo

We'll keeping it to the UK and a closer timeframe, you can see from the latest LR report that there are still substantial differences across the country

http://www1.landregistry.gov.uk/assets/library/documents/HPIReport091021wyd.pdf

Compare the City of Westminster with a 0.4% Annual HPI against Rochdale with a -18.7% HPI.
Or for Regions Ceregigion at -4.0% against Luton with -17.6%

Remember this is only for England and Wales and does not consider Scotland or Northern Ireland which is also part of the UK

[edit]
Just found that NI is apparently -32.1% YoY
http://news.bbc.co.uk/2/shared/spl/hi/in_depth/uk_house_prices/regions/html/region11.stm

Shows an even bigger spread of difference accross the country.
[/edit]

the_ash_and_the_oak

IveSeenTheLight wrote: »

We'll keeping it to the UK and a closer timeframe, you can see from the latest LR report that there are still substantial differences across the country

http://www1.landregistry.gov.uk/assets/library/documents/HPIReport091021wyd.pdf

Compare the City of Westminster with a 0.4% Annual HPI against Rochdale with a -18.7% HPI.
Or for Regions Ceregigion at -4.0% against Luton with -17.6%

Remember this is only for England and Wales and does not consider Scotland or Northern Ireland which is also part of the UK

[edit]
Just found that NI is apparently -32.1% YoY
http://news.bbc.co.uk/2/shared/spl/hi/in_depth/uk_house_prices/regions/html/region11.stm

Shows an even bigger spread of difference accross the country.
[/edit]

Northern Ireland is a good example of a region which had significantly different factors in its boom/bust trajectory than other regions imo

IveSeenTheLight

the_ash_and_the_oak wrote: »

Northern Ireland is a good example of a region which had significantly different factors in its boom/bust trajectory than other regions imo

Exactly which is why it is strange for you to think that all regions were broadly similar

the_ash_and_the_oak

think all UK regions have been broadly similar in their trajectories throughout the boom period and subsequently imo (w Northern Ireland having rather different factors that exacerbated both) - whereas the US strikes me as a truly regional market (w things like some states not experiencing a boom, different policies such as non-recourse only existing in some states etc)