benn Posted June 7, 2012 Posted June 7, 2012 http://uk.reuters.com/article/2012/06/07/uk-britain-houseprices-halifax-idUKBRE8560A220120607
TheCountOfNowhere Posted June 7, 2012 Posted June 7, 2012 http://uk.reuters.com/article/2012/06/07/uk-britain-houseprices-halifax-idUKBRE8560A220120607 Everyone is 0.5% poorer today. Well done the government and the idiot buyers.
Tired of Waiting Posted June 7, 2012 Posted June 7, 2012 (edited) Everyone is 0.5% poorer today. Well done the government and the idiot buyers. Deeply depressing. I'm really "Tired of Waiting" here. Re. these "idiot buyers", the only silver lining is that their deposits (at least 25% nowadays) is shoring up the banks and consequently the economy. Better them doing it, than forcing all taxpayers to do it. At least some meritocracy is back in the system. . Edited June 7, 2012 by Tired of Waiting
57percent Posted June 7, 2012 Posted June 7, 2012 This is after -2.3% last month? Then to be expected.
ingermany Posted June 7, 2012 Posted June 7, 2012 Deeply depressing. I'm really "Tired of Waiting" here. Re. these "idiot buyers", the only silver lining is that their deposits (at least 25% nowadays) is shoring up the banks and consequently the economy. Better them doing it, than forcing all taxpayers to do it. At least some meritocracy is back in the system. . If only................But for many idiot buyers, the majority of the deposit is being funded by taxpayers through firstbuy, homebuy, indemnity guarantee or whatever other abuse of public money is the current whim of ministers being egged on buy builders and vested interests. .
TheCountOfNowhere Posted June 7, 2012 Posted June 7, 2012 Look on the brightside, prices did collapse last month so a little recovery was probably in the pipeline and on a brighter note, prices still lower than last year, albeit, 0.1%. The low interest rate is keeping the wolf from the doors so nothing but Spanish bank/euro collapse will make any impact now....except for time....with people stretch to breaking point and no other way of making houses 'affordable' then the next generation wont be buying the over0-priced shoe-boxes off the idiots buying now. Also, I can't help but think this 'increase' is from the new London bubble, my wife sold her flat in clapham area last year for a peak 2007 price, someone just sold one this week ( from land reg ) for 10% more !!!! asking prices are up 20% in a year....now that aint sustainable. Also round Northampton in the last 12 months, top end houses have been selling at peak 2007 price, must be the London effect.
Democorruptcy Posted June 7, 2012 Posted June 7, 2012 If only................But for many idiot buyers, the majority of the deposit is being funded by taxpayers through firstbuy, homebuy, indemnity guarantee or whatever other abuse of public money is the current whim of ministers being egged on buy builders and vested interests. . Plus looser lending. Higher salary multiples edging back up since 2009 http://www.housepricecrash.co.uk/forum/index.php?showtopic=179268
TheCountOfNowhere Posted June 7, 2012 Posted June 7, 2012 (edited) I'm looking forward to this summers collapse Is anyone here actually actively/seriously looking to buy a house ? Asking prices at all time highs has just deflated me and would rather chew off my own arm that go and view anything now. Edited June 7, 2012 by TheCountOfNowhere
manchester50 Posted June 7, 2012 Posted June 7, 2012 I'm looking forward to this summers collapse Is anyone here actually actively/seriously looking to buy a house ? Asking prices at all time highs has just deflated me and would rather chew off my own arm that go and view anything now. I've viewed stuff...but even with a 20% reduction have walked away from every one thinking it overpriced. The exception being an informal tender where I put in a ~60% of guide offer - unsurprisingly refused.
koala_bear Posted June 7, 2012 Posted June 7, 2012 Plus looser lending. Higher salary multiples edging back up since 2009 http://www.housepric...howtopic=179268 Presumably caused by more income verification, hence lower incomes so large multiples needed to help justify that prices aren't falling thus not creating a big hole in the books?
19 year mortgage 8itch Posted June 7, 2012 Posted June 7, 2012 I'm looking forward to this summers collapse Is anyone here actually actively/seriously looking to buy a house ? Asking prices at all time highs has just deflated me and would rather chew off my own arm that go and view anything now. In my local market I am seeing a lot go sstc at firm prices. Not expecting collapse this summer. Supposed to be extending lease another 12 months instead
manchester50 Posted June 7, 2012 Posted June 7, 2012 In my local market I am seeing a lot go sstc at firm prices. Not expecting collapse this summer. Supposed to be extending lease another 12 months instead Agree for your immediate area. I'm tempted to say I expect next year to be different...but honestly? I don't think I want to predict any more.
“Nasty Piece of work” Posted June 7, 2012 Posted June 7, 2012 Wether up or down, the volumes are low enough to mean crock for the Halifax or Nationwide data, in my local paper there is an awful lot of "New Price" - and you can guess which way. "Nothing" is selling, the sooner....................
neil324 Posted June 7, 2012 Posted June 7, 2012 I'm looking forward to this summers collapse Is anyone here actually actively/seriously looking to buy a house ? Asking prices at all time highs has just deflated me and would rather chew off my own arm that go and view anything now. Yep, leasehold house requiring enfranchisement at a later date and complete modernisation. Depends what it achieves at auction, but I will be there with cheque book in hand. Awaiting the legal pack for terms of the lease to asses the likely costs involved, but it's in my postcode target area. Watching auctions over the last year they don't exactly offer value for money. But maybe given the circumstances of this house it might not attract much attention of the evil flippers.
crashmonitor Posted June 7, 2012 Posted June 7, 2012 (edited) Plus looser lending. Higher salary multiples edging back up since 2009 http://www.housepricecrash.co.uk/forum/index.php?showtopic=179268 Surely most of the market is existing homeowners or STRers returning to the market playing games with the equity created during Brown's boom. No more borrowing required and Merv doing his damdest to stop equity destruction via QE so the game can continue at inflated fantasy levels for the sole enjoyment of boomers, ftbs excluded of course. Edited June 7, 2012 by crashmonitor
zugzwang Posted June 7, 2012 Posted June 7, 2012 This is after -2.3% last month? Then to be expected. To be expected? They're simply taking one fictitious, smoothed, seasonally-adjusted number from another fictitious, smoothed, seasonally-adjusted number to create a fictitious difference! Like Case-Shiller in the US, on a month by month basis the data are utterly worthless. Only over the course of years does the genuine picture reveal itself from the algo wash, as Free Trader's charts spectacularly reveal.
bendy Posted June 7, 2012 Posted June 7, 2012 Downtrend continuing. We'll get 40-60% off but it's going to take around 20 years.
crashmonitor Posted June 7, 2012 Posted June 7, 2012 Downtrend continuing. We'll get 40-60% off but it's going to take around 20 years. Yep managed decline to accommodate zombie households and banks. Burn and reset to allow the economy to move forward again isn't an option on the table.
pyracantha Posted June 7, 2012 Posted June 7, 2012 Yep managed decline to accommodate zombie households and banks. Burn and reset to allow the economy to move forward again isn't an option on the table. Starting to look more and more like this is the way ahead. Angry and depressed...
Guest_James Toney_* Posted June 7, 2012 Posted June 7, 2012 Downtrend continuing. We'll get 40-60% off but it's going to take around 20 years. my thoughts exactly, very p!$$3d off about it, but keep telling myself this is the year for it to happen,
Tired of Waiting Posted June 7, 2012 Posted June 7, 2012 If only................But for many idiot buyers, the majority of the deposit is being funded by taxpayers through firstbuy, homebuy, indemnity guarantee or whatever other abuse of public money is the current whim of ministers being egged on buy builders and vested interests. . Yes, I know, that is fecking annoying. But IIRC that is not a very large share of the market? I don't remember the numbers though. Still very annoying though, and pushing these young naive FTBers into a life of debt slavery! Deeply immoral.
feed Posted June 7, 2012 Posted June 7, 2012 Downtrend continuing. We'll get 40-60% off but it's going to take around 20 years. If you look at FreeTraders’ charts, there’s already been a 30% fall. 5 years. Regional variations are a bitch though.
Tired of Waiting Posted June 7, 2012 Posted June 7, 2012 If you look at FreeTraders’ charts, there’s already been a 30% fall. 5 years. + 1 Regional variations are a bitch though. + 1
crashmonitor Posted June 7, 2012 Posted June 7, 2012 If you look at FreeTraders’ charts, there’s already been a 30% fall. 5 years. Regional variations are a bitch though. Seems we have got back to fair value in the provinces (about on the 30 year trend average line for the UK as a whole), with London doing its own thing. Though would be surprised if we do not undershoot the trend for the next decade or so.
Tired of Waiting Posted June 7, 2012 Posted June 7, 2012 Seems we have got back to fair value in the provinces (about on the 30 year trend average line for the UK as a whole), with London doing its own thing. Though would be surprised if we do not undershoot the trend for the next decade or so. It is not only London. I think prices are near peak from Cornwall to Kent, and from Bristol to ... I don't know... I think prices didn't fall much in the whole southern half of England!
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now