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Why Does A Zero % Increase Cause So Much Angst On Here?

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House prices were flat on the month in October after a strong rise in the prior month, giving a three-month annual rate of increase of 3.9 percent, HBOS Plc said in its Halifax house price survey on Friday.

That followed increases of 1.2 percent on the month and 3.0 percent in the three months on a year ago reported for September.

The nation's largest mortgage lender said the average price of a British home was a seasonally-adjusted 168,210 pounds in October.

I can`t recall in the last HP recession thousands of prospective buyers noses pressed up to the telly waiting for Ceefax to report the latest figures from the Halifax to then discuss the impact this would have on them getting on the firstrung. Perhaps it proves how far education has come in this country over the past 15 years :P

These various reports and all the slight contradictions that accompany them are useful, but as Cliff D`arcy says at the Motley Fool, use the evidence of your own eyes.

My locality, house bought by BMV/flipper off a distressed buyer-off to Canada, bought for 240K 6 months ago thought he`d get 300K, will now accept offers around 250K. BTW this guy is experienced, "Seen nothing like it lately meet me there let`s see if we can have a deal I just want it gone" 6 bed house (semi) in need of repair for 240K seems a ridiculous bargain to me with a growing family. One 3 doors away, restored over the last few months perfectly, is on for offers around 340K.

Another property a bungalow, detached needs a lot of TLC, on for offers around 150K. Bargain at 140 IMHO. Next door but one sold for 230K last year.

Perhaps the best, guy I know paid 890K for a detached 6 bed in the most prestigous road in the micro area 7 months ago. One on the opposite side of the road with elevated sea views is offers around 670K for one less bedroom!!

Values? Finger in the air :o

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It's just a sign of where a lot of sentiment on this board is right now.

We, as you say, have our noses pressed up against the window. The sentiment on the board changes week-by-week, I have seen it fluctuate like this before.

Yes, the housing market does appear through the stats to be 'stabilising' but it'll only take a few bearish reports to shift sentiment bigtime again.

I am becoming a little less bothered about the issue.

I rent, am saving money and know that prices will come down. Don't know how, don't know when, but they will come down.

Now, I'm just off to tell Mrs Starcrossed that again...

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Just be patient - we'll have to wait until Autumn next year for the HPC to really start kicking in in my opinion. In the meantime, enjoy yourselves watching the new reality starting to hit the 'house prices will only ever go up' brigade.

Edited by gruffydd

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It is a fall if you adjust for inflation

Good point, but irrelevant really as it only means the 'real' price has shifted, a person owning notices no difference & a person buying notices no difference either.

All a period of extended 'real' drops will do is cause another boom in the future & the ones on the sidelines will have missed out again.

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  • 317 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% +
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      • Even
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