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Estate agent Haart shows drop of 14% in south-west London in November
damik
Posts: 8 Forumite
Survey by estate agent Haart shows drop of 14% in south-west London in November, compared with 1.9% for capital as whole
Haart said prices in north London fell by 6.7% last month alone, while in south-west London, stretching from Richmond to Streatham, prices were now down 14% over the past year. “House prices in this postcode area have been particularly ‘frothy’ in the good times over the past few years, so will naturally see a more significant dip during the ‘cooling off’ period,” said Haart.
The Guardian, Monday 22 December 2014
Haart said prices in north London fell by 6.7% last month alone, while in south-west London, stretching from Richmond to Streatham, prices were now down 14% over the past year. “House prices in this postcode area have been particularly ‘frothy’ in the good times over the past few years, so will naturally see a more significant dip during the ‘cooling off’ period,” said Haart.
The Guardian, Monday 22 December 2014
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Comments
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Good news for money savers!0
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Yawn. One month's data is meaningless. More property churnalism from the Gruaniad. They run a story every other day, and flip a coin to decide whether to go with the bullish or bearish press release."Real knowledge is to know the extent of one's ignorance" - Confucius0
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Yawn. One month's data is meaningless. More property churnalism from the Gruaniad. They run a story every other day, and flip a coin to decide whether to go with the bullish or bearish press release.
It is Haart's report. These EAs are doing this for living. Plus they are not very motivated to talk market down, only up ...0 -
Crashy_Time wrote: »Strange, I thought most media had been pretty bullish up until recently?
Guardian loves flip-flopping though."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
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It is Haart's report. These EAs are doing this for living. Plus they are not very motivated to talk market down, only up ...
The EA's don't have even a basic grasp of statistics though. The three reliable indices are Nationwide, Halifax, and most importantly, the land registry. This last one is always a few months behind the others though.
One estate agent's data for one month is pointless. You cannot infer anything from it. There's too little data, and too much variation in the underlying assets. Not all three bed semis are equal for example."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
The EA's don't have even a basic grasp of statistics though. The three reliable indices are Nationwide, Halifax, and most importantly, the land registry. This last one is always a few months behind the others though.
One estate agent's data for one month is pointless. You cannot infer anything from it. There's too little data, and too much variation in the underlying assets. Not all three bed semis are equal for example.
How many people lapped up the EA`s pronouncements when the market was climbing though? Did people do their own due diligence then?0 -
Crashy_Time wrote: »Still not great news if you bought house recently though?
The last Halifax report shows a Q3 increase of 7% for Greater London."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
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