Georgia O'Keeffe Posted March 29, 2012 Share Posted March 29, 2012 (edited) 1% is more than my rent+ council tax. That's the sort of message I am pissing everyone off with today. You should also highlight that extrapolating forward the average house price in the UK will be under 10K by June 2035 Edited March 29, 2012 by Georgia O'Keeffe Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted March 29, 2012 Share Posted March 29, 2012 Next month's will be interesting. The YoY figure should start climbing over the next few months. Quote Link to comment Share on other sites More sharing options...
buytoilet Posted March 29, 2012 Author Share Posted March 29, 2012 Next month's will be interesting. The YoY figure should start climbing over the next few months. Well times have changed on this forum, I remeber back in the dy this thread would be at 6 - 7 pages long by now. Halifax will be out next week Quote Link to comment Share on other sites More sharing options...
ader Posted March 29, 2012 Share Posted March 29, 2012 1% is more than my rent+ council tax. Remember that's 1% you don't have to borrow but you also don't have to pay interest on it for 25 years either. So it's probably two months worth of rent and council tax (it is for me). . Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted March 29, 2012 Share Posted March 29, 2012 The fall is seasonally adjusted only - prices actually rose 0.4%, so purchasers would have saved 1.4% buying before the deadline (plus the 1% on the 0.4%). Compared to last year when there was a large NSA jump from Feb to Mar, I think this is more than a moral victory. Need more falls now to keep the YoY the right side of zero. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted March 29, 2012 Share Posted March 29, 2012 Forex displayed a prediction of a 0.3% rise. Slightly out then. 2006 comparison works for me. I've seen a 2 bed house near me for sale since mid Jan at £10k LESS than the £149k paid for it in Dec 2006. Another, although smaller 2 bed is being marketed at £4k more than the £123,750 it sold for in June 2005. Still keeping powder dry and in self-control, at the moment. House near me came on not long ago at 280k dropped to 270k and is now under offer. Highest ever sold price in street is 245k in 2007! Last sale in street £187k Oct 2011 two before that were both £195k Sep 11 and Dec 09. Who the hell is prepared to pay that? If I were my landlord I'd be seriously thinking about chancing my arm now if that sale goes through. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 29, 2012 Share Posted March 29, 2012 House near me came on not long ago at 280k dropped to 270k and is now under offer. Highest ever sold price in street is 245k in 2007! Last sale in street £187k Oct 2011 two before that were both £195k Sep 11 and Dec 09. Who the hell is prepared to pay that? If I were my landlord I'd be seriously thinking about chancing my arm now if that sale goes through. It depends what the offer is. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 29, 2012 Share Posted March 29, 2012 Noddy from Nationwide on BBC News now and spinning like a top . Quote Link to comment Share on other sites More sharing options...
Pent Up Posted March 29, 2012 Share Posted March 29, 2012 Hefty fall in approvals too 59k down to 49k Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted March 29, 2012 Share Posted March 29, 2012 It depends what the offer is. On at 270 I think it's safe to assume it's a new record for the street. If it goes though. If it isn't a cash buyer maybe the machine will say no? Quote Link to comment Share on other sites More sharing options...
NEO72 Posted March 29, 2012 Share Posted March 29, 2012 The nationwide numbers are way off track,. their customer base is middle class egyts with big deposits/equity who have been paying out too much for houses. The nationwide will at some point have to catch up with the halifax and land registry. We should expect big falls from the nationwide. Any big increases would just further widen the reality gap. I feel sorry for all those people who have chucked their deposits away....hey, no I dont To be honest, I'm increasingly of the opinion that it was down to the looseness of their lending. I've been tracking mortgage rates for a while now and since the start of this year a lot of the best fixed rate deals (based on a 75% LTV) have been pulled. NW was one of these and up until fairly recently offered a 5 yr fix at around 3.5% - it has now nudged up to around 4%. Significantly NW was also offering a relatively high multiple income compared to Halifax. Worth bearing in mind to that should the NewBuy scheme take off (which from the other thread looks unlikely now) then the Haliwide indices will also begin to reflect inflated new-build prices; in which case the Land Reg will be the one to watch (as it excludes new-build sales). Nationwide said that the slowdown was to be expected owing to changes in stamp duty rules creating a "headwind" in an already difficult environment. Wow - who could have seen that coming Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 29, 2012 Share Posted March 29, 2012 On at 270 I think it's safe to assume it's a new record for the street. If it goes though. If it isn't a cash buyer maybe the machine will say no? A perfectly reasonable offer of -20% (I would offer -30%) would take it well below that . Quote Link to comment Share on other sites More sharing options...
caparn Posted March 29, 2012 Share Posted March 29, 2012 You can't have inflation of essentials like food and electricity without wage inflation and expect other items dictated by demand alone to keep their price. Hence house prices are falling. And when people see the price falling they don't seem such a good investment so people stop buying them as investments. The financial markets is riddled with positive feedback that causes boom and bust. Quote Link to comment Share on other sites More sharing options...
Small Potatoes Posted March 29, 2012 Share Posted March 29, 2012 It's hard though. Just had offer accepted on place this morning, 20% off 2007 prices (it's been on and off the market since then - Baby Boomers wanting to downside but not sell their house for less than it's worth).... now wondering if I should have waited longer.... Quote Link to comment Share on other sites More sharing options...
zebbedee Posted March 29, 2012 Share Posted March 29, 2012 Just had offer accepted on place this morning, 20% off 2007 prices (it's been on and off the market since then - Baby Boomers wanting to downside but not sell their house for less than it's worth).... now wondering if I should have waited longer.... I think you should have, 20% of '07 is just where the market is now, so you're saying they upped the ask to compensate for the falls when they found a mug and you think your getting a deal. wheres the face palm emoticon. Quote Link to comment Share on other sites More sharing options...
GordonBrownSpentMyFuture Posted March 29, 2012 Share Posted March 29, 2012 Well times have changed on this forum, I remeber back in the dy this thread would be at 6 - 7 pages long by now. Indeed. Fatigue. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 29, 2012 Share Posted March 29, 2012 Just had offer accepted on place this morning, 20% off 2007 prices (it's been on and off the market since then - Baby Boomers wanting to downside but not sell their house for less than it's worth).... now wondering if I should have waited longer.... Your decision, but I don't expect to be buying for a few more years yet. Quote Link to comment Share on other sites More sharing options...
Small Potatoes Posted March 29, 2012 Share Posted March 29, 2012 Your decision, but I don't expect to be buying for a few more years yet. I would like to be the same but sadly children's school choices wait for no man and it's a house we can live in until they've grown up and left the nest (even if that's when they are 40!)..... and we've been renting for three years now and the kids want to decorate their bedrooms and have pets.... (neither of which are permitted by our landlord). I envy all those who can wait.... I think the price drops will be a beautiful thing... Quote Link to comment Share on other sites More sharing options...
Pent Up Posted March 29, 2012 Share Posted March 29, 2012 Quarterly release is out too. http://www.nationwide.co.uk/hpi/historical/Q1_2012.pdf London down -0.7% on the quarter. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted March 29, 2012 Share Posted March 29, 2012 I would like to be the same but sadly children's school choices wait for no man and it's a house we can live in until they've grown up and left the nest (even if that's when they are 40!)..... and we've been renting for three years now and the kids want to decorate their bedrooms and have pets.... (neither of which are permitted by our landlord). I envy all those who can wait.... I think the price drops will be a beautiful thing... Don`t know how you are buying, but couldn`t N.E and interest rate hikes cause more household friction than pets and wallpaper? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 29, 2012 Share Posted March 29, 2012 When's the next round of printy printy? Doesn't matter. Will not help house prices. Supply of credit will not rise. Costs of borrowing will not fall. Unemployment, earnings, public servants etc Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 29, 2012 Share Posted March 29, 2012 What's to stop a VI organisation publishing a headline grabbing figure only to quitely revise it down later ? Govt statisticians, OBR, Treasury do it all the time Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 29, 2012 Share Posted March 29, 2012 Indeed. Fatigue. Exactly. Tire out the bears until there aren't many left. Then whoosh! Bring it down. Quote Link to comment Share on other sites More sharing options...
Small Potatoes Posted March 29, 2012 Share Posted March 29, 2012 Don`t know how you are buying, but couldn`t N.E and interest rate hikes cause more household friction than pets and wallpaper? I'm a regular/addicted viewer of this site so I know and agree with all the arguments. If, and it's a big if, today's offer does go through to completion then it's a house we can comfortably afford even with big interest rate hikes and because it's a long term house and a repayment mortgage then so long as I own it at the end then the negative equity issue won't bother me in the middle years. Sadly the current rental laws don't give enough security to people with children otherwise I'd happily keep on renting.... Quote Link to comment Share on other sites More sharing options...
zebbedee Posted March 29, 2012 Share Posted March 29, 2012 I'm a regular/addicted viewer of this site so I know and agree with all the arguments. If, and it's a big if, today's offer does go through to completion then it's a house we can comfortably afford even with big interest rate hikes and because it's a long term house and a repayment mortgage then so long as I own it at the end then the negative equity issue won't bother me in the middle years. Sadly the current rental laws don't give enough security to people with children otherwise I'd happily keep on renting.... Thats very fair, you're better of happy than to the good a few grand. You know what to expect, there are a great many fools out there who think they'll be protected by the gubbermint. Quote Link to comment Share on other sites More sharing options...
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