cash_buyer

Compare the BBC's presentation of today's BBA lending figures with that of The Times: BBC: http://newsvote.bbc.co.uk/1/hi/business/6582677.stm The Times: http://business.timesonline.co.uk/tol/busi...icle1692769.ece

DaggaDagga Would the same hold true for Rightmove's last report showing a +3% rise in the UK last month?

http://www.firstrungnow.com/news-Economist...est+rate+stance "However Fionnuala Earley, chief economist at Nationwide, has said that rates do not necessarily have to rise and has called instead for "economic stability"." "She continued by saying that an overly aggressive stance from the MPC could lead to "payment difficulties" and stability in the housing market being undermined."

Take a look at the "Latest Housing News" section on the right of this page: http://news.bbc.co.uk/1/hi/business/6571043.stm Notice how they fail to include the following recent articles? "Slight fall in UK property prices" http://news.bbc.co.uk/1/hi/business/6559109.stm

RB Good points. Most of the media keep pointing out that the UK housing market is safe because of low interest rates and low unemployment. This shows that you can has house price falls under these conditions.

Well put RB.

This is excellent news. Especially since we all know how the BBC never publishes any bad news on house prices.

Why?

I wish the people at the BBC would read this!

http://www.eigroup.co.uk/auctioneers/templ...;a=69&c=hps Lot 1: 9 Roberts Road, Walthamstow, London E17 - Sold with last bid 140K Last sold in 05/03 for 145K http://www.houseprices.co.uk/e.php?q=9+rob...on+e17&n=10 Lot 2: 7 Roberts Road, Walthamstow, London E17 - Sold with last bid of 147K Last sold in 12/04 for 180K http://www.houseprices.co.uk/e.php?q=7+rob...on+e17&n=10 Lot 3: 20 Crispin Way, Uxbridge, Middlesex, UB8 - Unsold with last bid of 190K Last sold in 11/04 for 215K http://www.houseprices.co.uk/e.php?q=20+cr...2C+ub8&n=10 Lot 4: 57 Blackthorn Road, Ilford, Essex IG1 - Unsold with last bid of 202.5K Last sold in 03/04 for 204K http://www.houseprices.co.uk/e.php?q=57+bl...2C+IG1&n=10 Lot 5: 199 Blackthorn Road, Ilford, Essex IG1 - Unsold with last bid of 171K Last sold in 12/04 for 210K Lot 7: 47 Miles Drive, Thamesmead, London, Se28 - Unsold with last bid of 215K Last sold in 09/04 for 246K http://www.houseprices.co.uk/e.php?q=47+mi...C+se28&n=10 Lot 8: 238A Byron Ave, Manor Park, London E12 - Sold with last bid 154K Last sold in 09/04 for 175K http://www.houseprices.co.uk/e.php?q=238a+...2C+e12&n=10

I was comparing Jan 07 to Jan 06.

All areas around me are showing a massive drop in the number of properties sold in Jan 07.

http://www.nationwide.co.uk/hpi/historical/Q1_2007.pdf

Hey everyone, this is my fault. I accidentally posted this on the new blog without reading the date! It is interesting however to consider that since this article was published, rates have risen significantly and we have falling prices in the US and Ireland.

People in the US can claim tax relief on their mortgages. You can't make a comparison like this.

Take a look at Lot 4 from the last Halifax Auction: http://www.eigroup.co.uk/auctioneers/templ...;a=69&c=hps The highest bid was 164K. The property was purchased in October '03 for 162.745K. http://www.houseprices.co.uk/e.php?q=6+cannon+gate%2C+slough No much of an increase.

We should ask all the people who are posting increases here to include the houseprices.co.uk link. Here is an example of a fall: http://www.houseprices.co.uk/e.php?q=hp8+4ry No 3 & 4 came on the market at the same time. 4 was priced at 650K while 3 was priced at 600K. They both sat around for a long time and have finally sold for 500K. (Ignore the "type" info. It is clearly wrong) No 4 has taken a loss of 25K. No 6 is on sale for a stupid price in excess of 800! Let's see what it sells for in the end.

The smart people will wait until the prices stop falling. In a falling market, a bargain today may be over priced a few months later.

It is a shame that the press doesn't report this kind data. This would scare anyone who is about to take the plunge and buy at there prices.

I sold to rent in July of 04. A number of my close friends have all traded up to larger houses since that time. At all of their house warming parties they teased me by asking me what happened to the crash that I warned them about. This would be followed up by them gloating about last months percentage increase in house prices. Until recently I would reply by pointing our that the segment of the market that I have been closely tracking has not risen at all and would give them references to house on houseprices.co.uk that have sold for less than they did in 2001. However, I have to admit that I have seen a change in the last month both in the speed that sensibily priced properties are being sold and in the confident way the EAs are now talking. I am sure this is due to an overspill from London along with people trying to beat the rate rise. I am still confident that the market will crash or correct soon for the following reasons: 1. Since this time last year a number of housing markets have started to decline - The US, Australia, the upper segments of South Africa and more recently Spain. It seems that it is only the UK that is still growing. 2. Interest rates are now at 5%. This will reduce the amount people can spend on monthly payments. I know people will say that last time around interest rates reached 15% but back then, we had MIRAS tax relief which gave a 40% discount for people in the higher tax band. 3. The level of bankruptcies are rising very fast. This coupled the increasing amount of BLTs being sold via auction will IMHO have an impact on prices. 4. FTBs are are at an all time low. 5. The average house price to average income is at an all time high. 6. People were warning that the tech stocks were over valued for a two/three years before the bubble burst. I remember everyone saying that "it was different this time around. The internet has changed that way we will do business etc.". Now none of the former tech companies that still survive have got anywhere near that their former price levels. For all of these reasons I am prepared to sit it out for one more year.

Don't forget that when the rates were last at 15% we all enjoyed MIRAS tax relief. So depending on your income you could get a discount of 40% on your repayments.

The Land Registry information as to the class of house, i.e. Terrace, Detached etc., is wrong.

That information about is plain wrong. I have been to see the house. You will see from this link that there are other for sale in the same development. They are all arranged in a horseshoe. http://www.primelocation.com/uk-property-f.../KFBEWS1026856/

I have been watching a number of properties in my area. I was very pleased to see that one property, number 4, in a development of 12 town houses set in 7 acres of land sold for less than it did in 2001. http://www.houseprices.co.uk/e.php?q=hp8+4ry&n=10

I should have pointed out that Briar Croft sold for 120K less than in 2004.