rantnrave

Halifax Minus 2.4%

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The main page on the Halifax House Price Index - April 2012 page says this:

UK house price growth on an underlying basis remains relatively subdued, according to the latest Halifax House Price Index.

Commenting, Martin Ellis, housing economist, said:

"Prices in the three months to April were 0.3% higher than in the previous quarter, marking the first rise in this measure for seven months. Despite the slight improvement in the underlying trend in recent months, house prices continue to lack real direction with the current UK average price little different to where it was at the end of 2011. The monthly figures continue to fluctuate quite widely with a 2.4% decline in April, wiping out March's 2.2% rise.

"The ending of the stamp duty holiday for first-time buyers in late March appears to have boosted home sales early this year as buyers strove to beat the deadline, and has probably contributed to the volatility in house prices in the last few months.

"We continue to expect little overall movement in prices as the UK economic situation remains challenging."

Key facts
  • House prices in the three months to April were 0.3% higher than in the preceding three months (November 2011-January 2012). This was the first increase in prices on this measure of the underlying trend since September 2011 (0.1%), following six successive falls.
  • On a monthly basis, house prices fell by 2.4% in April. This more than offset the previous month's 2.2% increase as prices continue to fluctuate month-to-month.
  • Prices in the three months to April were 0.5% lower than in the same period a year earlier. This measure of the annual rate improved slightly from -0.6% in March and showed the smallest fall in prices since October 2010 (+1.2%).
  • No change in the average UK house price so far this year. The UK average price in April 2012, at £159,883, was virtually the same as in December 2011 (£159,888).

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Now last month was 2.2%, surprise surprise.

Get twittering!

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The UK average price in April 2012, at £159,883, was virtually the same as in December 2011 (£159,888).

Um, hang on.... The UK average price in April 2012 was virtually the same as in JUNE 2004! So that's 7 years without any house price growth :D:D:D

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Um, hang on.... The UK average price in April 2012 was virtually the same as in JUNE 2004! So that's 7 years without any house price growth :D:D:D

Oh man don't say that, you will p!ss off homeowners mortgage prisoners.

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Um, hang on.... The UK average price in April 2012 was virtually the same as in JUNE 2004! So that's 7 years without any house price growth :D:D:D

Asking prices at all time high though !!!

Some people must be getting stung big time and some people must be getting a fairly priced house.

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An annualised rate of decline of 25%.

marvelous

houses will be as cheap as a packet of fags in 10 years.

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Yes, in your face Forex Factory.

Forex Factory (Actual -2.4%) Forecast -0.4%, Previous 2.2%

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Um, hang on.... The UK average price in April 2012 was virtually the same as in JUNE 2004! So that's 7 years without any house price growth :D:D:D

We really need to breach the April 09 low of £154,716 to confirm that the move up from that level was truly just a dead cat bounce.

With articles like this, it does look like it is only a matter of time.

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Great news, this spring bounce is really taking hold :lol: sadly it will be kept off the front pages by the local election results.

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Now last month was 2.2%, surprise surprise.

Get twittering!

Yup, they had to balance the books after last months unsuccessful attempt to kick off a spring bounce :lol:.

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Yup, they had to balance the books after last months unsuccessful attempt to kick off a spring bounce :lol:.

Or they thought on a day when the news will be full of local election stuff they could slip a negative in unnoticed, then put a positive in next month?

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I'll be happy with I see a -2.5 next month too :P

Ill be happy when Halifax are no longer issuing mortgages and their stupid index is consigned to the dustbin of history.

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Or they thought on a day when the news will be full of local election stuff they could slip a negative in unnoticed, then put a positive in next month?

Could be, reminds me of the old nine bob note.

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We really need to breach the April 09 low of £154,716 to confirm that the move up from that level was truly just a dead cat bounce.

With articles like this, it does look like it is only a matter of time.

This one tops it for bearishness...... Love the headline!

House prices slipped 2.4pc lower last month and could fall 20pc further

Edited by Caveat Mortgagor

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Are the MoM figures saying that afer a "silly" month in March with people trying to beat the stamp duty deadline there is now a return to just below February 2012 levels?

Or is +2% one month, -2% the next month just statistical noise and the QoQ figures (+0.3%) and YoY figures (-0.5%) are a better measure that actually house prices at the moment are not really changing a lot either way?

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Does anyone remember the 2% fall in early 2008 and when challenged about it Clown replied 'I realy don't think a one month statistic is important given the huige rises over 15 years'. Then the rest of 2008 happened.

I have been saying to my wife, since October, that it has felt like the beginnings of 2008 since then.

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i recommend we all email our local agents that link to cheer them up for their bank holidays B)

Sometimes when a particularly ridiculous asking price accompanies a new rightmove listing I send this picture to the local EA in question.

70808681-kite-flying.jpg

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