Hometrack Figures

[non-FTBer]

Considering that most of Joe Public haven't yet cottoned on to the fact that property is falling in value the Hometrack figures in my area look very nice!

Detatched houses down by 1% (June), 1.6% (July) and 2.2% (August).

Average that and it equates to about 1.6% a month.

And average price paid against asking price is at 92%.

Take a house for sale at £200K today.

subtract 1.6% monthly falls for 12 months.

subtract 8% further against asking price.

And you end up paying about: £150K

I don't care how piffling these small monthly percentages look, they all add up.

I wonder how homeowners in my area would react if somebody told them that at the current rate of falls they would see up to 25% of their house value wiped out in 12 months would react??

And these falls only seem to be getting faster!

[SE1]

I wonder how homeowners in my area would react if somebody told them that at the current rate of falls they would see up to 25% of their house value wiped out in 12 months ... ?

<{POST_SNAPBACK}>

Well they seem perfectly unsurprised to see the 'value' go up 25%, so down again shouldn't be too much of a shock.

Should it?

[jp1]

Considering that most of Joe Public haven't yet cottoned on to the fact that property is falling in value the Hometrack figures in my area look very nice!

Detatched houses down by 1% (June), 1.6% (July) and 2.2% (August).

Average that and it equates to about 1.6% a month.

And average price paid against asking price is at 92%.

Take a house for sale at £200K today.

subtract 1.6% monthly falls for 12 months.

subtract 8% further against asking price.

And you end up paying about: £150K

I don't care how piffling these small monthly percentages look, they all add up.

I wonder how homeowners in my area would react if somebody told them that at the current rate of falls they would see up to 25% of their house value wiped out in 12 months would react??

And these falls only seem to be getting faster!

<{POST_SNAPBACK}>

Do you have a link to the latest Hometrack figures - I can only see the July ones on their site, are they hidding them away?

I notice their [up to date] News' sections lead with the headline 'Housing Market On The Turn' - from their Feb 05 survey :angry:

[Antsy]

I notice their [up to date] News' sections lead with the headline 'Housing Market On The Turn' - from their Feb 05 survey  :angry:

<{POST_SNAPBACK}>

Whn milk is 'on the turn' it means it's about to go rotten

Edited September 1, 2005 by Antsy

[non-FTBer]

You need to register with hometrack for a free account.

Then you can get access to a summary of your county, including august.

Or use my account... suppose I'll have to register another if they notice:

Email address: phil.specer@fools.net

Password: foolfool

Try that

[red]

Well they seem perfectly unsurprised to see the 'value' go up 25%, so down again shouldn't be too much of a shock.

Should it?

<{POST_SNAPBACK}>

Quite right, but remember that 25% on the way down is a lot more than 25% on the way up...