DCLG hpi = + 6.2% YoY +2.2% MoM

IveSeenTheLight

Mr.Brown wrote: »

That sure is an ugly house.

Absolutely, it needs a lot of modernising.
Makes it even more surprising how much demand there was for the property.
It is in the west end which helps, location, location, location and all that.

A lot of properties in the area are original owners and when they move on there are a host of people looking to move in.

for me, you get much better value for money elsewhere in the nearby locations

chucky

Mr.Brown wrote: »

Instead of talk it up threads, maybe leafletting would help?

Brit and the desperate house wife from Surrey is already on to that one :eek:

Batchy

IveSeenTheLight wrote: »

I spoke to a colleague of mine who bid on a house with a closing date last Friday.
He bid 6.8% above the asking and found out he was 8th out of 10 bidders
Your absolutely correct that different areas are acting differently.

To prove it's not anecdotal, the property was 11 Airyhall Road AB15 7TQ
Here's the link showing the price was offers only.
http://www.aspc.co.uk/cgi-bin/public/SINGLE?ID=277410
this will likely be removed from the site shortly as it is in process of completion
The property is also in need of modernising, so not as if people are paying for work already completed.
Price was offers over £250k and we'll see in three months what it actually went for.

I guess if you offered 10% below, you'd have been 11th out of 11

I have no idea how the scottish market works, and wouldn't like to know, but as long as your happy... I am too. cheers for the anecdotal, but england and scotland work very differently

Batchy

IveSeenTheLight wrote: »

On reflection, how much of a difference is the "asking price" between the two location.
I agree the buying process is different however this house was marketed with an asking price that matched the valuation.

The bids were therefore in excess of the valuation and regardless of the location shows a desire and the demand for buying property in this location

The difference is in scotland you bid up a property by 6% and you still dont get it, in england you offer 10% less and its yours... its like comparing dog poo and rocking horse poo

IveSeenTheLight

Batchy wrote: »

The difference is in scotland you bid up a property by 6% and you still dont get it, in england you offer 10% less and its yours... its like comparing dog poo and rocking horse poo

Not discagreeing here, but then that was my point in you were saying if you did not offer 10% lower, your paying too much and that was not reflective throughout the UK

Batchy wrote: »

if your not knocking 10% off asking, you paying too much. If your not embarrassed by your offer, your offering too much. Times are still hard!!

nearlynew

It's still all spin and bullsh1t though.

Generali

Really2 wrote: »

Never really looked in to their methodology but they use a fair few sources interesting we are getting disparity in data again.

The DCLG is meant to take a sample of 5% of all mortgaged sales (not approvals like Haliwide), no cash sales are included although some lenders now provide a sample of 100% of mortgaged sales. The reasons for divergence between this index and others should therefore be:

- Time lag (DCLG should be about 6-8 weeks behind Haliwide)
- Haliwide lending not reflecting lending in the wider market
- Cash sales not reflecting price changes in the wider market (time lagged divergence with Land Registry)