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  • Property Prices

    Property sales down by up to 65.6%



    Property sales down in most local authority areas and by up to 65.6%.

    This is all property so the issue is much more than S24, could be uncertainty around Brexit, expectations of interest rate increases or that property prices have become too expensive and a correction is due.

    See section 4.1 Sales by local authority

    https://www.gov.uk/government/publicatio...-june-2018

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    Odd when I see surry in minus fig and I see North TYNESIDE 4.5%

    thats more capital growth than I have seen in a long time

    the figs are remarkable when you look at London

    its far worse than I ever thought

    now the ball is rolling how fast willl it gain speed

    and more important how do the government stop it going off a cliff

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    You also beat Milton Keynes at 1.4%

    If you scroll down the fall in sales is more surprising

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    I noticed the MK fig

    but preferred to say nothing lol

    but it makes a change seeing some growth in the NE

    the figs were worse than I thought for London

    it will be interesting to see how this pans out

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    There’s always a lag in Land Registry sales figures which means a comparison against last years is not like for like. A short explanation here...

    https://twitter.com/resi_analyst/status/...25344?s=21

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    Thanks for that, perhaps they should delay issuing the figures for another month, that said interesting that the sales figures change range from plus 16.9% to minus 65.6%.  The changes in sales prices are still of interest and I wouldn’t expect any significant amendments to them.

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    Yeah I agree, it’s very frustrating that they put out incomplete data (and that it takes so long to gather anyway).

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    I put this down to Brexit uncertainty.

    Almost everyone I speak to in business and property is putting things on hold until March next year when things become clearer.

    We are seeing a complete stagnation of the property market in terms of people moving - both sales and lettings.

    We will all be in a kind of limbo until things become clearer about Brexit.  It is certainly very frustrating for business owners and no doubt will impact on the wider economy.

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    The only thing I don't get with the stats right now is that on one hand I see stats like on this thread that sales are down and then I see stats on other threads about record numbers selling up.

    Genuine question - which is it?

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