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Asking Prices Same As Five Years Ago Say Rightmove

Property values at 2007 prices

Property values at 2007 prices!

The property portal Rightmove have reported that property asking prices on their website have dropped for the third month in a row.

The average asking price of a property new to the market in September is now £234,858 (GBP), down from the average value of £236,260 (GBP) in August, falling £1,402 (GBP).

  • New property instructions coming to market are on average £11,000 (GBP) cheaper than they were three months ago.
  • Despite the 0.6% monthly drop in property valuations, asking prices are still 0.7% ahead of last year.
  • Property asking prices are similar to those wanted five years ago.

In September 2007, the same month as the Northern Rock debacle started and the beginning of the UK financial crisis, UK property values averaged £235,176 (GBP).

Miles Shipside, housing market analyst at Rightmove, said: “This year’s extended summer holiday period has left new sellers’ asking prices almost the same as a year ago and, intriguingly, five years ago too.  In truth, the state of the housing market is little different now to this time last year, and prices have stagnated as neither buyers or sellers have been forced to change their behaviour in sufficient quantities to stimulate greater activity. However, back in 2007, few would have believed that house prices would still be the same in five years’ time. This would have been in the context of the previous five-year period to 2007 seeing an average rise of 55%. Equally hard to predict would be the extreme changes the housing market has undergone. While the average new seller’s asking price has remained virtually the same since September 2007, market conditions are much changed. They are patchy and localised and vary markedly for the many different buyer and seller segments.”

According to Mr Shipside the credit crunch winners included home owners in London, where prices have shot up 18.7% in the last five years to stand at £456,237, and cash-rich house buyers.

Credit crunch losers included people in the North, those trying to down-size to release equity for retirement, people with insufficient equity or in negative equity who were unable to fund their next move, and tenants forced to rent as they want to buy but are unable to realistically save for a deposit.

Rightmove asking prices are still far higher than Land Registry, Nationwide and Halifax property prices

  • Halifax is currently quoting the average property value for August as £160,256 (GBP)
  • Nationwide reckon the average property value for August is £164,729 (GBP)
  • Land Registry show the average property value at £162,900 (GBP) for July.

Sometimes they are right in front of us.
What do we mean ‘sometimes’ we should say often!
People who are not honest or even close to being honest
And that’s fine so long as they stay in their own space
Trouble is we all get up close in trains, planes, buses, shops, malls and the rest
Not to mention work where we may have to spend time with them
There are many other situations where we find ourselves with dishonest people

Anything to be done?

Yes we can change people and ourselves
For a start by calling them out when they lie.
Not being scared to say that you do not agree with them.
Being very clear that you do not like dishonesty so that the relationship is clearly defined.
Lies are spread through innuendo, make it your habit to be accurate and clear in what you say. 

Avoid gossip. 

When people talk about others who are not present, particularly when the comments are pointedly negative or bitchy note that this is often the favoured approach of dishonest people.
Dishonest people like to sow dissent, distrust and confusion.
Do not aid them in this practice.
Once dishonest people know where you stand they will either avoid you or moderate their behaviour when with you.
Either way you win because you have not compromised your own integrity.

Not having their company is better than being drawn into their webs of deceit.
For sure they will put you down.
For sure they will lie and distort anything and anyone to gain what they perceive to be an advantage.
They will also tell stories about you as they would anyone else.
This is life and a reality.

Choose what path you will the choice is yours however gaining a reputation for honesty and integrity is the only path that leads to peace of mind.
Over a lifetime dishonest people lose.

Because they become known.
You can never know when they are telling the truth nor can they know themselves when others are.
Because they lie they can never trust others as they have to assume that others are like themselves.
Imagine never being able to trust anyone.
Everything they do is calculated on the basis of what’s in it for them and this must lead to failure and exposure over time.
Only those who are also dishonest and sense an advantage will want to spend any time with them.

A life lived in lies takes its toll on the immune system.
The physical system shows the strain.

One of the great ironies of ‘successfully dishonest people’ is that a lot of their ill gotten gains has to be spent on personal security in all its myriad forms.

Much has to be spent on their health and because they are dishonest they have to go to the most expensive doctors, clinics etc as only this way can they believe that they are getting safe treatment.
Others have to be bought off, paid off and so it goes on, the web of deceit has to be maintained.
What from the outside is perceived as success is in reality a prison of mind numbing emptiness.
And at the end when they die there commences a terrible journey where they experience themselves what it felt like for those they cheated, killed and abused.

The double in point of fact.

Not much fun in the next life either as they have to come back and do it all over again.
And again until they learn their lessons.
Ever wondered why so much of the world is in pain?
Why so many have such difficult lives?
Everyone you see in pain, all of us are paying our karma.
All without exception!

This will be a world of pain for a long time to come yet
Dishonesty is not a very compelling choice once you understand the true costs

Sana Yousaf

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