Jump to content
House Price Crash Forum
Sign in to follow this  
Guest The_Oldie

Daily Mail Today

Recommended Posts

Halifax, the biggest mortgage lender in the UK, predicts that in the next six months annual house prices will fall 6% in East Anglia, 4% in the South East and London, 3% in the North and 2% in the South West. In the Midlands and North West prices will rise less than 1%.

This would wipe £7,200 off the value of an average one-bedroom flat in East Anglia, £5,920 in the South East, £10,000 in London, £3,150 in the North and £2,880 in the South West.

Over the same period a renter in similar accommodation would have paid £4,290 in rent in East Anglia, £5,200 in the South East, £8,910 in London, £3,700 in the North and £5,150 in the South West.

For example, in East Anglia, Halifax's annualised figures show an increase in property prices of 2 pc, but quarterly figures taken over three months show a fall of 1.6%.

This would have wiped around £2,000 off the price of a typical flat in the region - more than the cost of renting the same property for those months.

Ok.. this needs to be on the news.

The news need to make sure that people are aware that they will loose money if they buy now.

More then it seems above.. as your not paying capital at the start of a mortgage..

your paying interest..

anyway..

Halifax.. always seemd to be building up prices..

Interesting that they are suggesting an annualised fall of 12% in east anglia...

Prices are going to fall.

The press needs to make sure this message is out there..

Perhaps we need to contact the Bank Of England and ask for an announcement..

Don't forget, the country and its government exists to serve us.. we pay for it..

and it needs to look after us.

is this true?I think it is.

Edited by apom

Share this post


Link to post
Share on other sites
Halifax, the biggest mortgage lender in the UK, predicts that in the next six months annual house prices will fall 6% in East Anglia, 4% in the South East and London, 3% in the North and 2% in the South West. In the Midlands and North West prices will rise less than 1%.

This would wipe £7,200 off the value of an average one-bedroom flat in East Anglia, £5,920 in the South East, £10,000 in London, £3,150 in the North and £2,880 in the South West.

Over the same period a renter in similar accommodation would have paid £4,290 in rent in East Anglia, £5,200 in the South East, £8,910 in London, £3,700 in the North and £5,150 in the South West.

For example, in East Anglia, Halifax's annualised figures show an increase in property prices of 2 pc, but quarterly figures taken over three months show a fall of 1.6%.

This would have wiped around £2,000 off the price of a typical flat in the region - more than the cost of renting the same property for those months.

Ok.. this needs to be on the news.

The news need to make sure that people are aware that they will loose money if they buy now.

More then it seems above.. as your not paying capital at the start of a mortgage..

your paying interest..

anyway..

Halifax.. always seemd to be building up prices..

Interesting that they are suggesting an annualised fall of 12% in east anglia...

The areas they quote are massive, if they're including all types of property as well, they really are covering themselves. This is so general as to be completely pointless.

Share this post


Link to post
Share on other sites
Guest Riser
Here's the link to the story, but it looks very impressive as a centre page spread with photos, blocks etc.

http://www.thisismoney.co.uk/mortgages/hou...8&in_page_id=57

That is a very nice article putting a human angle on the arguments against buying into a falling housing market. The more people realise the real dead money is paying for an interest only mortgage on a house which is loosing its value the faster we can get on with the crash.

We have talked about 1% per month falls being crash speed but this is based on the rate ate which previous bubbles have burst. This time the market contains a high number of amateur BTL landlords who are leveraged to the hilt. These people will come under increasing pressure from their lenders to liquidate their portfolios once they start having difficulty meeting their repayments. I believe the rate of fall towards the middle to end of next year could be much higher than most people are expecting peaking at around 2% per month, 3K on the average property, which makes the case for renting even stronger.

The article did not mention how far they expected the market to fall yet Nationwide data suggests prices are between 40 - 50% higher than the long term trend. This suggests people renting should not consider buying until prices have fallen between 30 -40% from last years peak which could take a couple of years yet. Those potential buyers in the North of England and Scotland who have seen prices rise in the last year should remember these areas are always the last to rise and always follow the trend set by London and the South East. Prices in some areas of the North are over 50% above the long term average so when the crash comes it will hit hardest in these areas.

Nationwide Data

North follows South

Edited by Riser

Share this post


Link to post
Share on other sites

No, not pointless, Bluelady......as these predictions are for averages for the region...

and we all know that certain types of properties' values hold up better than others in a slump.......eg flats above kebab shops on busy roads and inner city hotel style flats will fall more than the average...and 1930s semis in leafy green suburbs will fall less .................Also localised changes in economic conditions will favour/go against certain towns or suburbs....

Edited by Michael

Share this post


Link to post
Share on other sites
Here's the link to the story, but it looks very impressive as a centre page spread with photos, blocks etc.

http://www.thisismoney.co.uk/mortgages/hou...8&in_page_id=57

Good article. Some of you young folk have got your heads

screwed on correctly.

Ultimately the market will decide what will happen to house

prices.

Share this post


Link to post
Share on other sites

Devon..

House prices in the FTB area have gone up by 400% this boom..

In London they havent doubled..

Devon has the lowest wages short of Cornwall.. where they have done the same..

We have the lowest wages in the country and prices higher then all but London...

CRASH>> BANG WALLOP

Holdiday homes are heading south.. this is a great deal of the current market in the "English Riviera"

Now what are you going to get shot of quickly...?

A house you visit three times a year.. does not get you any income.. and is loosing value faster then a second had Alfa Romeo..

( I drive them... buy them a few years old and they are sooooo cheap... keeping cost down.. its not as flash as a mewers big four wheel drive... But I have actually paid for it.. and it uses less petrol.. and those shallow girls.. the ones that sleep with you because of your cars.. I manage to avoid them with consumate ease..)

Share this post


Link to post
Share on other sites

I'm especially pleased because my parents read the Mail and although they have come around to my way of thinking on property price falls (eventually) it won't do any harm for them to read this with their coffe and toast this morning.

It is actually a piece of good, responsible, balanced reporting. With real advice. I have not said that about the Mail very often. Sure beats the broadsheets.

Share this post


Link to post
Share on other sites
I'm especially pleased because my parents read the Mail and although they have come around to my way of thinking on property price falls (eventually) it won't do any harm for them to read this with their coffe and toast this morning.

It is actually a piece of good, responsible, balanced reporting. With real advice. I have not said that about the Mail very often. Sure beats the broadsheets.

Articles such as this, in the Mail, are hugely influential. IMO there couldn't be a better paper for this story to appear in, as far as its potentila impact on public sentiment towards house prices. The Mail is seen as a "serious" paper for the vast majority of the aspiring middle and upper lower classes that can't manage a more serious "broadsheet" (even though some of these have become tabloids, physically!)

Edited by Casual Observer

Share this post


Link to post
Share on other sites

Good to see young folk reading a quality tabloid. I used to

read the telegraph but it is a broadsheet still. There are

some good examples of topical issue being tackled by the

mail and the coming HPC is one of them.

Edited by E Powell

Share this post


Link to post
Share on other sites
I see that again the point has been missed . who do you think this article will benefit? the desperados on this board or their rich landlords?  the latter of course - can't you see it is BTL VI rubbish?

It will, for example, benefit my son, who is living at home at present, waiting for prices to fall before he buys. This article will accelerate a fall, because it will frighten people from buying.

Share this post


Link to post
Share on other sites
Good to see young folk reading a quality tabloid. I used to

read the telegraph but it is a broadsheet still. There are

some good examples of topical issue being tackled by the

mail and the coming HPC is one of them.

It is interesting that The Mail usually leads with 'Blair Threat to the Known Universe' and now there really is a story with which to give him a real kicking their opening gambit is a practical, fair piece of reporting.

Who would have thought it?

Share this post


Link to post
Share on other sites
It is interesting that The Mail usually leads with 'Blair Threat to the Known Universe' and now there really is a story with which to give him a real kicking their opening gambit is a practical, fair piece of reporting.

Who would have thought it?

I really can't stand the Mail, personally. For the reason you give (over-the-top scare mongering about all things Blair, political correctness etc. etc. ad nauseum) but also because of the awful aspirational life-style articles that make it seem more like a magazine.

I sometimes make the mistake of buying it if I only have a short amount of time to read it e.g. a train trip, but I always, always regret it!

Edited by Casual Observer

Share this post


Link to post
Share on other sites

( I drive them... buy them a few years old and they are sooooo cheap... keeping cost down.. its not as flash as a mewers big four wheel drive... But I have actually paid for it.. and it uses less petrol.. and those shallow girls.. the ones that sleep with you because of your cars.. I manage to avoid them with consumate ease..)

apom why on earth do you avoid them ?

Sleep with them and then break it to them how much you actually paid for the car !! Ha ha ha !! :D

Regards above article, this is just great even many of my blinkered freinds are coming round to the idea of an HPC now the mainstream media is getting hold of it.

Share this post


Link to post
Share on other sites
Dear casual, I am afraid if u believe that u are deluded.  Sorry m8y but do you remember that program on TV earlier in the year? With the horror stories of buyers? Do you remember its sensational title ?  Let me remind you "THE GREAT HOUSE PRICE CRASH" did it work?  No it didn't, so why do you think the daily mail article would do such a thing?  Surely the TV program was more influential than the daily mail? it didn't work and neither will this.  All that this article will do is line up the pockets of the landlords and as demand grows for their properties they will buy some more therefore pricing your son out even more.  Honestly, think about it carefully.  I know it seems like a paradox but the longer people rent the longer they will be priced out.

Well, that programme actually did work, and I would credit it with some of the falls we've already seen.

It's all about sentiment. Prices rose illogically after 2000, simply because everyone believed they'd get more money when they sold (greater fool theory). Now it's working in reverse.

Good example is my brother, who bought a BTL in December 2003 ("you can't go wrong") Rent never covered his mortgage and now he's desperate to sell, absolutely desperate. Trouble is he can't sell it even for 10k less than he paid! Do you really think he will read this article with any kind of warm glow? Well, do you?

Share this post


Link to post
Share on other sites
Dear casual, I am afraid if u believe that u are deluded.  Sorry m8y but do you remember that program on TV earlier in the year? With the horror stories of buyers? Do you remember its sensational title ?  Let me remind you "THE GREAT HOUSE PRICE CRASH" did it work?  No it didn't

I agree one article in isolation won't have a great impact. But this isn't one article in isolation - we had "Repossession, Repossession, Repossession" on ITV prime time a couple of days ago, now this big spread in the Daily Mail, as well as many more bearish articles in the "quality" papers.

When one isolated voice makes the noise, it is easily ignored, when everywhere you turn you see stories of house price falls, sentiment is changing. And it will snowball - more articles, more people become bearish, which will lead to more articles, which will lead to more people becoming bearish etc. etc...

Crash cruise speed by the end of the year is now firmly on the cards, I believe.

Share this post


Link to post
Share on other sites
( I drive them... buy them a few years old and they are sooooo cheap... keeping cost down.. its not as flash as a mewers big four wheel drive... But I have actually paid for it.. and it uses less petrol.. and those shallow girls.. the ones that sleep with you because of your cars.. I manage to avoid them with consumate ease..)

I have a fantastic image in my head of Apom having to resort to all sorts of tactics to avoid attracting shallow females who only want to sleep with him!

Dressing as a tramp, farting in public, belching, nosepicking, talking about his scabies that never seems to go away, pulling out his own teeth with a pair of pliers to mess up his smile a bit.

Must be hell, mate.

:D

Share this post


Link to post
Share on other sites

Apollo speaking candidly sometimes you really do talk some unmitigated pish, either that or you are working to your own agenda...?

"THE GREAT HOUSE PRICE CRASH" did it work?

it didn't work and neither will this.

"It didn't work" - sounds like you've got some kind of conspiracy theory going on there... are you seriously suggesting - mainstream media in driving down the market shocker?

All that this article will do is line up the pockets of the landlords and as demand grows for their properties they will buy some more therefore pricing your son out even more.  Honestly, think about it carefully.  I know it seems like a paradox but the longer people rent the longer they will be priced out.

What utter pants... if this was the case then we would never have had any of the previous price crashes would we. All the landlords would have snapped up the property and they would now own everything.

Markets are all about balance and in the current situation there are no incentives to encourage landlords to buy more property. There is already massive oversupply so by renting you are not encouraging landlords to buy more properties you are merely helping them service the ones they currently own but are running at a loss. Hardly an incentive for them to increase their holdings is it.

Please give it a break from your obvious FUD strategy, it's getting rather tiresome.

Edited by DoubleBubbleTrouble

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.