Estate agent Haart shows drop of 14% in south-west London in November

hpifever

Estate agent Haart shows drop of 14% in south-west London in November 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

SO FUNNY!

Crashy_Time

hpifever wrote: »

Estate agent Haart shows drop of 14% in south-west London in November 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

SO FUNNY!

So prices softening at last?

hpifever

I think prices were softening ages ago but the people who are soft in the brain took ages to notice.

MARTYM8`

In Richmond £500,000 would get you a one bed flat located above a Greggs bakers. Barmy - even allowing for the designer kitchen!

http://www.rightmove.co.uk/property-for-sale/property-48427688.html

hpifever

Bargin!! Hamish would be so proud.

The HPI lovers seem to be very quiet here.

Crashy_Time

MARTYM8` wrote: »

In Richmond £500,000 would get you a one bed flat located above a Greggs bakers. Barmy - even allowing for the designer kitchen!

http://www.rightmove.co.uk/property-for-sale/property-48427688.html

Yes, it is quite a decent one bed flat though, but how long will it be 500k? Imagine buying that now, just think how much it could lose.

Bubble_and_Squeak

is that a 14% drop in a month or a year?
either way it sounds too much to be true
must be skewed by a glut of shared ownership rat cages or something

chewmylegoff

Crashy_Time wrote: »

Yes, it is quite a decent one bed flat though, but how long will it be 500k? Imagine buying that now, just think how much it could lose.

No it's not, it's a pokey little hole without a separate kitchen crammed into a conversion above Gregg's, right on the high street with noisy buses going past every 2 minutes, 24 hours a day and planes overflying as they come into heathrow for about 19 hours a day.

It is just a stupidly priced flat which will never sell at that price.

chewmylegoff

Bubble_and_Squeak wrote: »

is that a 14% drop in a month or a year?
either way it sounds too much to be true
must be skewed by a glut of shared ownership rat cages or something

It is down 14% in a year according to a "survey" carried out by Haart estate agents - the survey seems to consist of data from their offices only. It isn't clear whether they are referring to sold or asking price data, but either way they are using a statistically insignificant data sample so their conclusions are meaningless.

Rightmove has sharp falls in London asking prices for Nov and Dec but YoY they are are significantly in most boroughs and +11.1% YoY for Greater London as a whole. Showing Lambeth/Merton/Wandsworth/Richmond/Kingston all up signficantly over the last 12 months.

Land registry has Richmond and Wandsworth up 20%+ YoY to October 2014. I guess we will have to wait for the November and December data to see if around 30% is wiped off in those two months in order to corroborate Haart's data.... Wouldn't hold your breath.

System

chewmylegoff wrote: »

No it's not, it's a pokey little hole without a separate kitchen crammed into a conversion above Gregg's, right on the high street with noisy buses going past every 2 minutes, 24 hours a day and planes overflying as they come into heathrow for about 19 hours a day.

You have to compare it with a crack den in outer Edinburgh, in which case it's a palace.

I can't decide if I should contine following the Foxtons Share Price House Price Index or this new Haart House Price Index instead. Both seem incredibly accurate.

padington

Bubble_and_Squeak wrote: »

is that a 14% drop in a month or a year?
either way it sounds too much to be true
must be skewed by a glut of shared ownership rat cages or something

All it means is they had a lot of high end property's on the books. There are lots of prime properties even in places like tower hamlets and that can skew the results.