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buytoilet

Halifax Down 0.6%---Merged

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Good news. There were a few folk who, understandably, were suggesting a modest rise. I think/hope we'll see a steady flow of decreases over the next few months.

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Good news. There were a few folk who, understandably, were suggesting a modest rise. I think/hope we'll see a steady flow of decreases over the next few months.

Damn, I am about to sell my house. Better raise the asking price by 5%.

;)

About time it happened. And this is just the turning point. Actually I blame the work cup and exceptionally hot and dry weather. It will be back to normal next month.

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When I followed the forex link to the 'latest release' at the Lloyds Group website, there's no announcement to read yet, just the raw figure on the forex site. Spinmeisters haven't prepared the release yet? :rolleyes:

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They always take a while to get their report up. I think it was a few days last month!

This is the third consecutive fall and the fourth fall in five months.

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When I followed the forex link to the 'latest release' at the Lloyds Group website, there's no announcement to read yet, just the raw figure on the forex site. Spinmeisters haven't prepared the release yet? :rolleyes:

Time to start quoting YoY, methinks.

HOUSE PRICES UP 5%

Edited by the flying pig

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It's out now. http://www.lloydsbankinggroup.com/media/word/HPI/2010/HousePriceIndexJune2010.doc

 

Key facts

 

• House prices fell by 0.6% in June.  This followed a 0.5% decline in May.

 

• Prices in the second quarter of 2010 were 0.1% lower than in the first quarter of 2010.  This continued the slowdown in the pace of house price growth since the beginning of the year and compared with a 0.6% rise in 2010 Quarter 1.

 

• House prices in June were 6.3% higher on an annual basis as measured by the average for the latest three months against the same period a year earlier. This was below the 6.9% increase in May, which was the highest since October 2007 (8.9%).

 

• Prices are 7.5% above their April 2009 trough despite the modest decline over the past few months. The average house price is now £166,203; 17% below its August 2007 peak.

 

• The increase in the number of properties for sale is curbing the upward pressure on house prices. Estate agents have reported a sharp increase in instructions from new vendors following the recent abolition of HIPs, reinforcing the recent trend as more homeowners have been encouraged to sell following the improvement in house prices in 2009. The ratio of house sales to the stock of unsold properties on surveyors' books fell for the fifth time in the past six months in May. (Source: RICS monthly survey, May 2010.)  The easing in this ratio indicates a moderate loosening in market conditions, reducing the support for house prices.

 

• Housing market activity has eased.  Bank of England industry-wide figures show that the number of mortgages approved to finance house purchase – a leading indicator of completed house sales – were largely unchanged between April and May, at a seasonally adjusted 49,800.  Approvals in the three months to May, however, were 3% lower than in the preceding three months, indicating a modest softening in housing market activity.  

 

• In separate research, Halifax has found that the cost of owning and running a home in the UK has declined by 6% over the past two years. Between April 2008 and April 2010, the average annual cost associated with owning and running a home fell by £544 from £9,564 to £9,020. In real terms (i.e. after allowing for retail price inflation), the cost of housing has fallen by 9%. Housing costs in the UK are now equivalent to 27% of gross average full-time earnings, down from 30% in 2008.

 

• The fall in the cost of housing since 2008 has been driven by a 19% (£881) decline in mortgage payments (interest and capital repayments). The average mortgage rate paid by existing borrowers fell by 2.13 percentage points between April 2008 and April 2010 from 5.80% to 3.67%.

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Its on a rolling ticker on the bbc news channel. That's until the BBC VI's realise what is happening..........!

http://news.bbc.co.uk/1/hi/business/10551070.stm - 2nd item on business page after IMF global growth estimate.

"UK house prices wilting in summer."

At least an editor was more poetic than using the raw figures but it's in there:

"Property values dropped by 0.6% in June compared with May, following a 0.5% fall the previous month, the Halifax said."

Edited by deflation

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The hope is that people will think they are 0.6% poorer! And others who are on the verge of caving in and buying at a ridiculous prices, or having been conned into buying by an EA, will think they need to hold off and wait.......

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FTSE 100 5079.13+1.28%

The stock traders haven't digested it yet.

I am not sure this is going to have a material impact on UK share prices - yet.

£, on the other hand, is ticking lower against both $ and Euro after this news.

Edit: should have said UNEXPECTD news, lol

Edited by VoteWithYourFeet

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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