Favre Posted August 29, 2005 Share Posted August 29, 2005 (edited) quick bit of math here........... http://news.bbc.co.uk/1/hi/business/4193008.stm The average cost of a property in England and Wales is now £161,000, almost £7,000 less than in June 2004. 161000 / 168000 = 0.958 Therefore Property prices are DOWN 4.2% snippet from years gone by at the end of the eighties crash.......... The Times THU 06 FEB 1992 Prices of houses fall 3.6% in year HOUSE prices fell by 1.2 per cent last month, the latest Halifax building society house price index shows. It comes after a fall of 1.3 per cent in December and means that house prices are now 3.6 per cent lower than a year ago. Although there are... Now if in the last HPC a yoy fall was 3.6% does that not mean that since we have just witnessed a larger House Price drop we're in crash territory? Favre Edited August 29, 2005 by Favre Quote Link to comment Share on other sites More sharing options...
SarahBell Posted August 29, 2005 Share Posted August 29, 2005 http://money.guardian.co.uk/houseprices/st...1558375,00.html 14th month of house price falls says the guardian.. have i been asleep for a few months? Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted August 29, 2005 Share Posted August 29, 2005 I think the bubble is so big and has been so exponential this time that the momentum will kick in before it is properly noticed. It will take a 10% drop before it creates negative equity to the extent of more than an inconvenience for anyone who bought their house more than 2 years ago. The next election really is the election to loose Quote Link to comment Share on other sites More sharing options...
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