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Halifax Figures Today...Yummy -1.2%.

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Wherebis everyone?!

It's -1.2% :)

We needed that!

Mornin'

or as they say here from morning until evening dzień dobry (good day) which gets abbreviated to just dobry. (Phonetically jeyn dob ree)

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Crashtastic! Halifax -1.2%, Nationwide last week was -0.6%, Money supply is down, German High Court is going to strike down Greek and Italian rescues, GO has just said the UK economy isn't going to grow like he thought it was.... it's bear heaven... :P

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Crashtastic! Halifax -1.2%, Nationwide last week was -0.6%, Money supply is down, German High Court is going to strike down Greek and Italian rescues, GO has just said the UK economy isn't going to grow like he thought it was.... it's bear heaven... :P

It's high time the UK spent some time in the hurt locker. There is no reason other than sheer stupidity why prices haven't dropped here like they have in the US.

Edited by MrFlibble

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Bear heaven indeed! With both Nationwide and Halifax indices moving down we can hope to see some downward movement in the land registry figures: if not in the next month's figures then certainly later in the autumn. Having recently sold to rent (due to a job move rather than some market omniscience!) these figures cheer me up no end.

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The media and VIs are still feeding the denial though... and there is plenty of it out there still.

House prices dropped 1.2% last month, the Halifax said today, ending three months of price rises.

The average price of a house fell month-on-month to £161,743 in August, although the "more reliable" quarterly change showed a 1% rise.

http://www.independent.co.uk/news/uk/home-news/house-prices-drop-12-says-the-halifax-2350555.html

Edited by the.ciscokid

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It's high time the UK spent some time in the hurt locker. There is no reason other than sheer stupidity why prices haven't dropped here like they have in the US.

Erm, housing supply, jingle mail, etc ... unless thats what you meant.

Edited by Terribad

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Sick of these merged prediction/results threads. having to wade through the predictions to find the results is not cool.

The Mods have changed the title for me so that you can see the result without having to even open the thread. What more do you want!?

Actually, it would have been useful to be able to edit the initial post to link to the halifax press release, and maybe link to the appropriate post-issue forum post in the thread.

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The Mods have changed the title for me so that you can see the result without having to even open the thread. What more do you want!?

Actually, it would have been useful to be able to edit the initial post to link to the halifax press release, and maybe link to the appropriate post-issue forum post in the thread.

I should have said "wading through the thread to find the start of the results discussion".

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Bloomberg's report on it..

http://www.bloomberg.com/news/2011-09-07/u-k-august-house-prices-fall-1-2-halifax-report-says.html

U.K. House Prices Fall 1.2% as Growth Cools

U.K. house prices fell for the first time in four months in August as Britons grew more pessimistic about the economy, Halifax said.

Prices dropped 1.2 percent from July, the mortgage unit of Lloyds Banking Group Plc (LLOY) said in a statement in London today. From a year earlier, prices decreased 3.9 percent to an average 161,743 pounds ($258,500).

U.K. consumer sentiment fell in August as government budget cuts and accelerating inflation squeezed household finances. The Bank of England will hold its benchmark interest rate at a record low tomorrow as the global recovery slows, Europe’s debt crisis intensifies and Britain presses ahead with the deepest fiscal squeeze since World War II, economists forecast.

“Low interest rates are likely to continue to support the market whilst increased uncertainty about the economic outlook and pressures on householders’ finances constrain demand,” Halifax economist Martin Ellis said in the statement. “Overall, we expect broad stability in both prices and activity over the coming months.”

August’s house price decline was the first since April, when values dropped 1.4 percent, Halifax said. In the three months through August, they rose 1 percent from the previous quarter and were 2.6 percent lower than a year earlier.

Bank of England policy makers, who last month debated whether the economy needs more stimulus, will keep their key interest rate at 0.5 percent tomorrow, according to all 57 economists in a Bloomberg survey. It will also keep its bond- purchase plan at 200 billion pounds, according to all but one of 41 economists in a Bloomberg News poll. The bank will announce its policy decision at noon in London.

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What was the actual yoy? We can expect a big jump in the yoy figure next month as last years -3.7% was September. It will then drop back down in octobe when the +2.8% comes through.

Although Halifax smooth the yoy it could still be very erratic for a few months.

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Buried deep in the Business section...

BBC: House prices fell 1.2% in August, says Halifax

7 September 2011 Last updated at 09:24

House prices fell by 1.2% in August compared with the previous month with property values expected to remain stable, Halifax said.

The lender, now part of Lloyds Banking Group, said that the average home was 2.6% lower in value than a year ago at an average of £161,743.

The monthly drop was the first recorded by Halifax for four months.

It said low interest rates, coupled with a lack of demand, meant there would not be a pick-up in activity.

Comparison

The month-on-month drop is similar to the drop recorded from July to August by the Nationwide Building Society a week ago.

Both lenders base their house price estimates on their own lending data.

The less volatile three-month on three-month measure showed that prices rose by 1% in the three months to the end of August compared with the previous quarter.

Prices remain slightly lower than the end of last year, the Halifax said, and - despite homes becoming more affordable - it saw little expectation of a strong lift in the market.

"A recent decline in average mortgage rates has further boosted home affordability for those able to raise a deposit to make a new purchase," said Martin Ellis, Halifax's housing economist.

"Low interest rates are likely to continue to support the market whilst increased uncertainty about the economic outlook and pressures on householders' finances constrain demand.

"Overall, we expect broad stability in both prices and activity over the coming months."

However, some commentators have suggested the difficulties for the UK economy could impact on the housing market.

"A double dip in the economy is becoming more and more realistic, and if the economy goes down, the property market will go down with it," said Nicholas Ayre, director of UK buying agents Home Fusion.

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  • 331 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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