House prices fall by £40,000 in four years

sleepyj

fears grow that slump will continue until 2015

Around £40,000 has been wiped off the average value of a home in Britain over the last four years, research has revealed.

The fall has plunged many homeowners into negative equity, the term used when the size of a mortgage is higher than the value of a property.

Read more: http://www.dailymail.co.uk/news/article-1385020/House-prices-fall-2-year-low-fears-grow-slump-continue-2015.html#ixzz1Lx65x7Hg

The_White_Horse

probably all the dumps up north. the value of houses in my street in London have gone up and are selling for more than they acheived in 2007.

i always wondered why properties in and around places like Leeds were selling for London (or near London) prices. It was ridiculous.

sleepyj

The_White_Horse wrote: »

i always wondered why properties in and around places like Leeds were selling for London (or near London) prices. It was ridiculous.

Personally I've always wondered why places like London sell for London prices

FTBFun

sleepyj wrote: »

Personally I've always wondered why places like London sell for London prices

Lots of well paid jobs.

That's pretty much it.

chucky

sleepyj wrote: »

Personally I've always wondered why places like London sell for London prices

because people want/have to live there

nembot

Fair comment, but London prices have no relevance to me or anyone else who isn't looking to buy there - fact is prices are way down.

Good news as far as I'm concerned.

Jimmy_31

The_White_Horse wrote: »

probably all the dumps up north. the value of houses in my street in London have gone up and are selling for more than they acheived in 2007.

i always wondered why properties in and around places like Leeds were selling for London (or near London) prices. It was ridiculous.

It may also include the dumps down south.

Thrugelmir

Jimmy_31 wrote: »

It may also include the dumps down south.

Down south here prices are down an average 4% YOY.

ukcarper

As has already been pointed out on another thread why did Halifax reach £200k in 2007 while Nationwide and Land Reg only reached low £180ks.

Thrugelmir

ukcarper wrote: »

As has already been pointed out on another thread why did Halifax reach £200k in 2007 while Nationwide and Land Reg only reached low £180ks.

Halifax and NW are based on applied for mortgage advances. In addition they have different regional bias.

Land Reg includes cash transactions.

The only certainty is that there's uncertainty.

pawlala

I'd rather pay the same price for a "dump up north" than the equivalent "dump down south", at least I have a good chance of a garden!