Tom said:
Prices are falling here in the South East. Houses in our nice, quiet,
middle-class, 4-5 bedroomed detached, very desirable part of Essex are now
being priced at the level they were two years ago. The really big increases
of 2003 - 2004 have almost all been reversed.
This is a house price depression not recession.
That's what I thought (we are in SW London) but I've had to reverse my
opinion. House *prices* - those advertised - have slumped but houses
round here never sold at those ridiculous kite-flying prices.
The "For Sale" signs outnumber the "Sold" signs 10:1 but people *still*
aren't selling cheap, they are staying put. The Nationwide calculator:
http://www.nationwide.co.uk/hpi/
....is broadly correct. House prices are climbing quarter by quarter in
Greater London, only two quarters in the last year and a half have seen
falls! If you want to check *your* area you can do it on a street by
street basis here:
http://www.nethouseprices.com/
