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Timm

D C L G -0.8% Mom, +6.1% Yoy

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http://www.independent.co.uk/news/business/news/house-prices-dropped-08-in-september-2135367.html

House prices dropped 0.8% in September

By Nicky Burridge, PA

House prices fell by 0.8% during September as the property market continued to slow down, figures showed today.

The drop, which wiped out the 0.7% increase seen during the previous month, left the average UK home costing £211,815, according to Communities and Local Government.

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The quarter-on-quarter growth rate, generally seen as a smoother indicator of market trends, also fell into negative territory.

Property prices dropped by 0.7% during the three months to the end of September, compared with a 1.6% rise in the quarter to the end of June.

The figures suggest the CLG index, which is based on mortgage competitions and tends to lag behind other measures, is now catching up with other indexes, which have shown house price falls for some time.

Halifax reported a record 3.6% fall in property values during September, while Nationwide has shown that house prices either fell or remained static during each of the five months to the end of October.

Mortgage competitions? Sort your life out nicky! Well done for pointing out the lag though.

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I found this bit interesting

prices paid by first time buyers were 4.6 per cent higher on average than a year earlier whilst prices paid by former owner occupiers increased by 6.7 per cent

Essentially, the equity-rich are still buying like it's silly season, propping up the HPI whereas the FTBers are being pinched.

I'd be interested to see the HPI graph for FTBers only.

Edited by exiges

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I'd be interested to see the HPI graph for FTBers only.

My wish is my command !

Graph by month for this year:

First Time Buyers

ftb.jpg

Owners

owners.jpg

Edited by exiges

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It must be me but I still can't see this on the BBC website, nor Rightmove's 3+% fall yesterday.

Optician!

The BBC never report rightmove. Or at least that's what I thought until someone informed me that the 3.1% rise from last month was reported.

And people argue the BBC isn't biased.

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The BBC never report rightmove. Or at least that's what I thought until someone informed me that the 3.1% rise from last month was reported.

And people argue the BBC isn't biased.

But it's more likely laziness than incompetence [edit: I mean "conspiracy"]: I would imagine that when the figures are negative for any of these indices, the press release is written to sound as non-newsworthy as possible; when the figure is positive, I guess it gets a big attention-grabbing headline etc in the press release. So reporters naturally notice the positive ones more.

Edited by Selling up

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The BBC never report rightmove. Or at least that's what I thought until someone informed me that the 3.1% rise from last month was reported.

And people argue the BBC isn't biased.

On the other hand, their "Your Home" homepage has a nice little graphic:

_45742297_pw_logo_for_web1a.jpg

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On the other hand, their "Your Home" homepage has a nice little graphic:

_45742297_pw_logo_for_web1a.jpg

Surely it should look like this...

bbc.JPG

post-24729-0-86619000-1289915182_thumb.jpg

Edited by Ames

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What's a FTB ? :lol::lol::lol::lol:

Suggestions on a postcard please....

EDIT: Financially Totally B*ggered ?

No, bank of mum and dad.

One of my work colleagues has come over all smug because she's just been left, 'quite a lot of money from her gandmother, who has just died'.

Bitter?

Sure bet!

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What's a FTB ? :lol::lol::lol::lol:

Suggestions on a postcard please....

EDIT: Financially Totally B*ggered ?

Failed To Borrow.

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Someone please tell the vendors (and buyers) in North London that prices elsewhere are falling; I enquired about a property yesterday and was told by the EA it was under offer and that such properties are selling immediately if reasonably priced, although they were selling for 100K less a year or so ago.

Vendors, and more annoyingly buyers, are still caught in a bubble mentality around here and it's very, very frustrating; I am more convinced I should have jumped in during the dip of 2008, particularly as I now have a little one and Mrs Red is nesting big time!

Although I feel the second dip is beginning, it's going to be a slow, protracted affair - particularly with few forced sales/low IRs.

So good news re: DCLG stats, but I am not a happy bear today...someone tell me to get a grip and keep the faith, please.

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It must be me but I still can't see this on the BBC website, nor Rightmove's 3+% fall yesterday.

Optician!

http://www.bbc.co.uk/news/business-11766910

UK house prices falling, government figures show

The recent fall in house prices has been confirmed by official government figures.

Prices dropped 0.7% in the three months to September according to the monthly index published by the Department for Communities and Local Government (DCLG).

That compared with a rise of 1.6% during the preceding three months.

A 0.8% drop in September alone pushed the cost of the average UK home down to £211,815, just 6.1% up on a year ago.

I withdraw my earlier BBC bashing comments (for now)

Are they reading this forum?

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Someone please tell the vendors (and buyers) in North London that prices elsewhere are falling; I enquired about a property yesterday and was told by the EA it was under offer and that such properties are selling immediately if reasonably priced, although they were selling for 100K less a year or so ago.

Vendors, and more annoyingly buyers, are still caught in a bubble mentality around here and it's very, very frustrating; I am more convinced I should have jumped in during the dip of 2008, particularly as I now have a little one and Mrs Red is nesting big time!

Although I feel the second dip is beginning, it's going to be a slow, protracted affair - particularly with few forced sales/low IRs.

So good news re: DCLG stats, but I am not a happy bear today...someone tell me to get a grip and keep the faith, please.

The best advice I can give here is not to listen to estate agent rampings. If you want to know what agents really think in the current Market read the comments for your area at the bottom of last weeks RICS survey.

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The best advice I can give here is not to listen to estate agent rampings. If you want to know what agents really think in the current Market read the comments for your area at the bottom of last weeks RICS survey.

Check the Estate Agents Today website too, where they seem to have increasing amounts of time to attach each other with handbags - as I posted with this link yesterday: http://www.estateagenttoday.co.uk/News/Story/?storyid=3712&type=news_features

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The best advice I can give here is not to listen to estate agent rampings. If you want to know what agents really think in the current Market read the comments for your area at the bottom of last weeks RICS survey.

I agree - I'm not at all naive in this regard and am well aware of all the EA bull that might come my way... however, there's no disputing the facts: anything reasonably priced around here is selling quickly - and that's at asking prices that are significantly higher than 2008 'dip' prices.

I believe this is purely down to lack of supply/forced sales and a re-enforcement of the belief that prices around here won't fall, hence buyers diving in.

p.s. RICS spokesman Jeremy Leaf is one of the prime (and perma-bullish) EAs in my area, so I wouldn't bother reading his comments!

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  • 244 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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