pablopatito Posted July 8, 2010 Share Posted July 8, 2010 You know what, this is it. Calm down, people. Quote Link to comment Share on other sites More sharing options...
Redcellar Posted July 8, 2010 Share Posted July 8, 2010 "The increase in the number of properties for sale is curbing the upward pressure on house prices." How is two months of declines and upward pressure? If planes flew on the same principles then they wouldn't need wings, apparently. Who cares, you can only prop up a market for so long, and now we see it happening. Quote Link to comment Share on other sites More sharing options...
or in excess of Posted July 8, 2010 Share Posted July 8, 2010 Is this official? Not a peep on the BEEB this morning!! On their business page " UK house prices have fallen SLIGHTLY in the early summer". They just can`t resist a bit of positive spin, can they? Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 8, 2010 Share Posted July 8, 2010 http://news.bbc.co.uk/1/hi/business/10551070.stm UK house prices wilting in summer UK house prices have fallen slightly in the early summer compared with the start of the year, a survey has found. Property values dropped by 0.6% in June compared with May, following a 0.5% fall the previous month, the Halifax said. This meant prices in the second three months of the year were 0.1% lower than the first quarter. More properties coming onto the market and less activity from house buyers has caused the fall, the lender said. The average home in the UK is now valued at £166,203 according to Halifax figures. Quote Link to comment Share on other sites More sharing options...
Topher Bear Posted July 8, 2010 Share Posted July 8, 2010 We are now 1.9% down since january and 1.5% down since december. With the drops accelerating we should easily be at least 5% down this year. We will need an average of 1.5 down a month for the rest of the year to get 10% down for the year though. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted July 8, 2010 Share Posted July 8, 2010 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....... I phoned my EA through with the news before it hit the wires--he said nothing. Silence. No comment. I think he was stunned as he going on yesterday about how the market was turning around and that everyone had lots of money. I am working with him for a rental as our LL has put our gaff on the market and it sold the first day! We live 5 miles E of Brighton and there are virtually no decent properties on the market--too retired around here so its not a good comparison to the real world. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 8, 2010 Share Posted July 8, 2010 Updated inflation-adjusted fall-from-peak chart: [As usual the latest-month RPI figure is estimated] Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted July 8, 2010 Share Posted July 8, 2010 much better than I expected. What the hell happened to the spring bounce? Ah, it was the election AND England's poor performance in the World Cup Quote Link to comment Share on other sites More sharing options...
Realistbear Posted July 8, 2010 Share Posted July 8, 2010 (edited) They simply will not accept the fact that markets rise AND fall. HPI is still seen as the god to be worshipped in this country and a reduction is prices will simply not be accepted--only less gains: http://uk.finance.yahoo.com/news/house-prices-fall-0-6-percent-in-june-halifax-reuters_molt-7db80fa96cd0.html?x=0 A survey by rival mortgage lender Nationwide last week showed house prices rose 0.1 percent in June, down from the previous month, and official data have shown mortgage approvals stagnating, suggesting limited future price gains. Edited July 8, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
Pent Up Posted July 8, 2010 Share Posted July 8, 2010 Updated inflation-adjusted fall-from-peak chart: [As usual the latest-month RPI figure is estimated] That's an excellent graph. Looks like we are back on track. Quote Link to comment Share on other sites More sharing options...
buytoilet Posted July 8, 2010 Author Share Posted July 8, 2010 Does anyone know what the NSA figures are out of interest Quote Link to comment Share on other sites More sharing options...
bricor mortis Posted July 8, 2010 Share Posted July 8, 2010 (edited) Beeb 24 sticking with the news that matters. .....School meal uptake rises by 2% ! ..studio guest '' Yes...this is fantastic news'' Some bloke on Business news ( beeb) randomly forcasting QE 50 billion by the years end. I must say house prices are now on the slippery slope at last, what a dismal wait its been. Still no cigar till its yoy negative though. Edited July 8, 2010 by bricor mortis Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted July 8, 2010 Share Posted July 8, 2010 They simply will not accept the fact that markets rise AND fall. HPI is still seen as the god to be worshipped in this country and a reduction is prices will simply not be accepted--only less gains: http://uk.finance.yahoo.com/news/house-prices-fall-0-6-percent-in-june-halifax-reuters_molt-7db80fa96cd0.html?x=0 A survey by rival mortgage lender Nationwide last week showed house prices rose 0.1 percent in June, down from the previous month, and official data have shown mortgage approvals stagnating, suggesting limited future price gains. what the hell, that does not even make sense? Quote Link to comment Share on other sites More sharing options...
Left the UK 2009 Posted July 8, 2010 Share Posted July 8, 2010 Very Pleasant! With these alternating up and down months it is looking very much like Winter 2007 again so I think we can be certain that the top of this bounce has been reached. What we need now is a big monthly fall like we got in April 2008 to really shock people. 8 to 10 percent down this calendar year is certainly not unlikely. Quote Link to comment Share on other sites More sharing options...
montesquieu Posted July 8, 2010 Share Posted July 8, 2010 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....... Not sure it's quite enough yet for people to pull purchases ... my ex and her fancy man bought a place in DECEMBER 2007 at way over peak. Nothing in the street - mid-terrace in Brizzle - had ever sold higher than £190k. But they were so desperate to get their 'foot on the property ladder' that they paid £247k (I had even been helpful enough to send them a link to this site but as usual she thought I was a nutter) ... this was well into several months of falls post-peak in terms of prices and transaction volumes. Guess what, they were told in April he is being made redundant unless he moves to Manchester (merger IT work completed and Bristol office being shut), and lo and behold they've had a valuation of £190k. So they can't afford to move. The number of people who go into house purchases using only blind emotion is frightening. Of course they could try the stunt I came across recently in a village near Frome ... couple paid £295k at peak mid 2007, wife spend £80k going nuts fitting kitchen, bathrooms, bamboo flooring, fancy curtain fabrics, new fireplaces etc (ie, all decor, nothing structural to add real value), now needs to move closer to work as his office got moved and won't budge at £380k asking price when no-one in their right mind would pay over £300k which is the absolute upper level for this sort of smallish place in the village now. Even the estate agent rolls his eyes when you mention this couple. (Taken off the market now apparently so bloke is stuck with 90 min each way drive to work daily, was 15mins when he bought the place.). The scary thing is, they are not young (mid 50s I would guess with grown up kids) and they are far from unusual. Quote Link to comment Share on other sites More sharing options...
Bear Faced Cheek Posted July 8, 2010 Share Posted July 8, 2010 One of the things I like about this site is that it's the only place I can read instant reaction on housing news. That got me wondering.... On t'internet, is there a website with the *opposite* perspective on the news? A sort of housepricerise.co.uk or vestedinterests.org? Would be interesting to read their bleatings this morning... Quote Link to comment Share on other sites More sharing options...
neil324 Posted July 8, 2010 Share Posted July 8, 2010 One of the things I like about this site is that it's the only place I can read instant reaction on housing news. That got me wondering.... On t'internet, is there a website with the *opposite* perspective on the news? A sort of housepricerise.co.uk or vestedinterests.org? Would be interesting to read their bleatings this morning... moneysavingexpert is very bullish Quote Link to comment Share on other sites More sharing options...
singlemalt Posted July 8, 2010 Share Posted July 8, 2010 drip...drip...drip......B-O-O-M!!! Quote Link to comment Share on other sites More sharing options...
Pent Up Posted July 8, 2010 Share Posted July 8, 2010 One of the things I like about this site is that it's the only place I can read instant reaction on housing news. That got me wondering.... On t'internet, is there a website with the *opposite* perspective on the news? A sort of housepricerise.co.uk or vestedinterests.org? Would be interesting to read their bleatings this morning... Try the mse forum debate house prices. That's full of bulls(hit) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 8, 2010 Share Posted July 8, 2010 Beeb 24 sticking with the news that matters. I must say house prices are now on the slippery slope at last, what a dismal wait its been.. I think you mean...on the fast lane to recovery. Quote Link to comment Share on other sites More sharing options...
Home_To_Roost Posted July 8, 2010 Share Posted July 8, 2010 (edited) T'was caused by the snow in Jan/Feb, the volcanic ash, the hot weather in April, the World Cup, Raoul Moat, and that gunman from Cumbria. Can't you see all that pent-up demand? :angry: ... ah ********.... all I can see is pent-up fear and a rush to sell houses ...... BRING IT ON! Edited July 8, 2010 by Home_To_Roost Quote Link to comment Share on other sites More sharing options...
Home_To_Roost Posted July 8, 2010 Share Posted July 8, 2010 I think I just heard 20,000 estate agents shitting themselves simultaneously Quote Link to comment Share on other sites More sharing options...
Home_To_Roost Posted July 8, 2010 Share Posted July 8, 2010 The Daily Wail: Property market flatlines as house prices fall for third month in a row FLATLINES?! Quote Link to comment Share on other sites More sharing options...
the flying pig Posted July 8, 2010 Share Posted July 8, 2010 The Daily Wail: FLATLINES?! house prices always go uuuuugggghhhh. Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 8, 2010 Share Posted July 8, 2010 I am sitting here in the office with a big silly grin on my face and I cannot tell people why. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.