Saturday, Jan 19, 2008
Halifax shocking results reported in the Sunday Times
Times: House prices tumble
It will be interesting to read what davidsmith has to say on this. "HOUSE PRICES TUMBLE. House prices fell in the last three months of 2007 in what was the first quarterly fall in seven years. Average prices across the UK saw a 0.8% decrease, according to the latest Halifax house price index. The previous quarterly fall was in the second quarter of 2000, when prices fell by -0.1%. The largest falls were in Greater London where prices dropped 6.3%." WOOOOW, but no worries... "Sound economic fundamentals and lower interest rates will support house prices in 2008.” Yeah, sure
Posted by confused76 @ 09:48 PM (549 views) Add Comment
6 Comments
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1. lvmreader said...
Time to look at the CDS of HBOS?
2. it_is_going_with_a_bang said...
"Sound economic fundamentals and lower interest rates will support house prices in 2008”
Someone else telling the Bank of England what to do. Petrol price increases at the pump would probably snuff out any savings the average borrower could make from a 1/2 pc drop in rates.
Thats not including any other knock of price increases, like 5 pc on council tax, etc.
3. drewster said...
Finally, somebody actually read the small print in the report. FirstRung noticed it on Friday, two days later the Times realises it too. London down 6.3% in a single quarter. That makes an annualised fall of 25.2% (if the VIs can shamelessly project forward then so can I). How about a new front page headline: LONDON HOUSE PRICES TO FALL 25% NEXT YEAR
4. Hpwatcher said...
''"Sound economic fundamentals and lower interest rates will support house prices in 2008.''
u wish.
5. justwatching said...
'These small falls need to be taken in context', blah, blah 'prices have risen 171% in the past 10 years' blah, blah.
Taken in context does this mean that 'HOUSE PRICES ARE FALLING BECAUSE THEY ARE SO FOOKINK UNAFFORDABLE, AND THEY WILL CONTINUE TO FALL UNTIL AVERAGE JO CAN AFFORD TO a) PAY INTEREST PAYMENTS and b)THE CAPITAL REPAYMENT COSTS WITHOUT c)HAVING TO STARVE!
6. planning4acrash said...
As UK prices tumble, they will have a similar but smaller effect than US prices, with all the instruments and bonds, etc, associated with UK property being downgraded.