How I intend to make £'000s

Dead_Eye_Jones

arkie wrote:

people who own their home would be crazy to wish for a crash

'friad im a homeowner who wants prices to drop, else how will I ever afford the nice detatched home I aspire too. Aslong as prices dont drop so far that im in neg equity, if that happens Ill have to wait until prices are on the up again. Obviously those who buy low and sell high are in the best financial postition, and good luck to those that spend their lives chasing this. Personally I like to control my own destiny and plan to ensure financial security through hard work and career development. And meanwhile Ill get on with my life - some ya win, some ya lose!

fivemice

Looks like the HPC is already happening in Nottingham

Nov 2005 Nov 2006 Change

Detached £252,287 £182,000 -28%

Semi £151,271 £131,475 -13%

Terraced £121,680 £109,950 -10%

Flat £120,000 £50,000 -58%

All £212,660 £128,121 -40%

cwcw

fivemice wrote:

Looks like the HPC is already happening in Nottingham

Nov 2005 Nov 2006 Change

Detached £252,287 £182,000 -28%

Semi £151,271 £131,475 -13%

Terraced £121,680 £109,950 -10%

Flat £120,000 £50,000 -58%

All £212,660 £128,121 -40%

I remember some stats for 2006 showing Nottingham as the only place in the UK with declining property prices. I think it has more to do with local factors, i.e. the gun crime epidemic and associated bad press, rather than being part of some gigantic, nationwide, uniform 40% house price crash which will suddenly allow all the "we're doomed" brigade over at HPC on the ladder.

Out of interest, what's the sampe size? The flat sales, which shwo a 58% decrease, look as though they consist of 1 or 2 sales to me, so could easily be skewed, for example, by Right to Buy prices.

fivemice

Yeah, it's clearly not accurate. Funnily enough, the gun crime hardly affects any of Nottingham. The way it's reported on the news you'd the the whole county was going down the pan.

I have noticed that things are generally slowing down and dropping slightly though, even in the really posh areas of Nottinghamshire.