The 4 Pillars of the Overvaluing House Price Pyramid.

1. 1990’s: Deliberate Overvaluing used as a new and effective tactic by certain agents, to grab market share, exploiting seller optimism bias. 2. 2000’s: Other agents, losing market share, were left with no choice but to copy, compounding the problem. 3. 2010’s” “Help to Buy”, QE, low interest rates and other stimulus artificially inflates pricing,… Continue reading The 4 Pillars of the Overvaluing House Price Pyramid.

Autumn asking prices of ‘sold’ homes drop 3.5% in 2 weeks

September 2023 BestAgent House Price Index (beta) by Charlie Lamdin Housing market’s weak pulse shows autumn improvement The number of homes showing as “sale agreed” across England jumped by nearly 8% to 62,695 during the middle two weeks of September, reflecting the post-summer holiday seasonal activity increase we’d normally expect. However, transaction numbers remain substantially… Continue reading Autumn asking prices of ‘sold’ homes drop 3.5% in 2 weeks

5 Fact Friday – 22nd Sept 2023

5FF 22 Sep 2023 Video commentary: https://youtube.com/live/lrsgEP5SJ-Y July 2023 Land Registry HPI up 0.6%https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/july2023 ONS rental prices up 5.5% year on yearhttps://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/indexofprivatehousingrentalprices/august2023 CPI inflation down 0.1% to 6.7%https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/august2023 Boiler Ban Delayed 10 yearshttps://www.express.co.uk/life-style/property/1814921/gas-boiler-ban-delay-what-it-means-for-you Mortgage interest component of inflation up 60%https://x.com/shjfrench/status/1704487008712749382?s=20 Interest Rates: unchanged (yawn) August Retail Sales: https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/august2023

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Justified Housing Rage

When it comes to the state of the housing market, there are millions of very, very angry people. This justifiable anger leads to countless statements containing a phrase like “All [insert group] are scum.” There is no group of people of any kind anywhere in the world who are all the same. This inaccurate oversimplification… Continue reading Justified Housing Rage

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Prices up, Mortgages down? Five Fact Friday – 21 July 2023

1. Today: Times “Experts” House Price Forecasts range from 6.5% to -25% (Resolution Foundation) and -35% (some random bloke called Charlie) https://www.thetimes.co.uk/article/0d18cbee-264b-11ee-8c1b-d5d52b458fbd?shareToken=a8ae763a1e13e7400b9eaa233198e37a 2. Rightmove Reports Record Rising Rents (in Q2) but is this out of date? https://www.newsshopper.co.uk/news/national/uk-today/23670356.uk-property-average-rental-prices-reach-new-record-high/ 3. But BestAgent reports All Homes Index reports average national asking rents in England and Wales begin falling… Continue reading Prices up, Mortgages down? Five Fact Friday – 21 July 2023

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Everyone’s Downsizing

Five Fact Friday 7th July: Downsizing. Here are 5 verifiable facts from this week’s housing news, hitting housing hardest.

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5 Fact Friday 28 April 2023

1. New Homes builder Persimmon reports a 42% fall on unit sales in Q1 2023 compared with 2022. https://www.persimmonhomes.com/corporate/media/news/2023/trading-statement/ 2. Home Sale transaction volumes remain good, with Chris Watkin reporting that last week sales totals were the highest level since the mini-budget of Sept last year. Strong liquidity is important for everyone in the moving… Continue reading 5 Fact Friday 28 April 2023

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Rising asking prices mask sharp falls in home prices

Newly listed homes in February outnumber ‘sale agreed’ 4:1 as gazundering takes hold The latest weekly data from bestagent.co.uk shows average and median asking prices for Unsold homes rising, 3% in the case of median, from £304,000 to £310,000 for homes showing as For Sale in England. The same metrics for “SSTC” homes (aka Under… Continue reading Rising asking prices mask sharp falls in home prices

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