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  • Property Prices

    North occupies top 10 places for price drops



    There are a number of local housing markets where homes cost far less than they did ten years ago.

    In one part of Liverpool, for instance, average house prices at the end of 2008 were £116,821, but by the end of last year were £65,178.

    Liverpool is one of ten places, all in the north, where house prices in certain local markets have dropped at least 33%.

    The local markets are in government-termed Middle Layer Super Output Areas, which break down places by localised elements and allocate each one a name and code identity which can be looked up here. 

    Full/source story

    It is interesting to note that the top ten places for house price decreases are all in the north of England while the top 10 places for price increases are all in London and the South East.

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    Thank you for sharing Vanessa, very interesting and insightful post as always.

    This can be looked at in two different ways. One being that the prices have fallen for properties across the North which could be a negative for some but also now is a great time to invest while the prices are down and where potential high returns can be made.

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    Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.

    I think this is mostly a result of money from overseas coming into London investment property.

    The bigger picture can be seen by examining house prices in gold, rather than fiat. That gives you a true historic trend picture.

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    Quite interesting post although a bit to generalist I think, the liverpool area at the top is a mix of really run down area at one end where house prices where never 115k and university at other end where I believe they built student housing which was all the rage back in the day and over priced white elephants.

    What it does highlight though is that you need to know the area almost down to the street as within those areas there are other micro areas.

    Interesting article though, on the wirral I bought in 2009 for 75k in 2009 a 2 bed terrace, and i bought a 3 bed one a couple of roads away 72k last week. The 3 bed needs a bit more work and the rent will be 550pcm v the 475pcm I got back in 2009. So prices certainly havent moved much but profit up by 50-75pcm in the same period. So I'm still buying
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    Slowly working towards financial freedom