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Uk House Prices Edge Lower In June - Hometrack

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Any bets as to how the BBC will spin this? I say "drifting" lower.

I expect they'll say "house prices continued to rise downwards"... or "house prices entered a period of sustained reverse growth" :D

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Low transaction volumes, low mortgage rates and forbearance by lenders limiting the number of forced sales have all played their part. While average prices have slipped back by 1 percent, sales volumes have increased off the back of higher demand and greater realism over achievable prices," he said

This sounds like bull, all time low transaction volumes BUT sales volumes have increased in his quote????

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I am pleased to say that GMVT have been reporting this story on their news item, along the following lines..

... house prices have dropped almost 4% in the last year, and further falls are likely, according to Hometrack. More sellers are agreeing to lower prices for their homes...

The message was made even clearer by them showing a shot of "For Sale" boards whilst they read the news item. :)

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Low mortgage deals spark 11 per cent leap in buyers - as house prices drop by almost 4 per cent

4%?? :blink:

Buyers might return when they are down by 40%.

In the meantime the same old BS goes on:

"Prices fell by 0.1 per cent in June and have now dropped in 11 of the past 12 months.
They will fall by about 1 per cent in the second half of the year as more new homes come onto the market but demand remains subdued, causing the number of homes on estate agents' books to rise, it predicts."

Lets not deny they are falling but only admit to tiny fractional drops so buyers think they might as well get in rather than wait a year for another couple of thousand off. :lol:

Don't fall for it. They will drop by at least another 7-10% in the 2nd half with more joy to come in the years ahead.

Edited by Realistbear
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Any bets as to how the BBC will spin this? I say "drifting" lower.

Just watch them - any major link to UK benefit/pension inflation rates - September inflation is the month they are measured to cheat the poor + pensions (so 'they' always make sure inflation drops to the annual lowest by that month)

Cameron & the scum in Parliament relinked house prices to the indicator as they are due to fall - where as Brown in late 90's removed House prices off the indicator as he artificially fueled the boom ultimately causing massive inflation!

Nov 2010

Increases to public sector pensions will be lower following the change from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI).

It has been revealed that public sector pensions, the state second pension and some private sector defined benefit schemes will only rise next year by 3.1 per cent instead of the RPI rate of 4.6 per cent. The change will also affect the basic state pension.

The Chancellor first announced that inflation for public sector pensions would be measured by the CPI in April.

The inflation figure is calculated during the 12 months prior to September, and is then awarded in April the following year.

John Ball, Head of UK Pensions at Towers Watson, said: "Someone receiving £10,000 this year from a public sector pension scheme can expect this to rise by £310 in April. Under the old rules, it would have been £460."


Edited by erranta
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"Someone receiving £10,000 this year from a public sector pension scheme can expect this to rise by £310 in April. Under the old rules, it would have been £460."

Wow that's harsh. Do you know how much my private sector pension will rise by in April? Nothing! Because I don't get one! These idiots need to start living in the real world!

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  • 439 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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