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Halifax Finds House Prices Static But Car Sales Slump

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Halifax finds house prices static but car sales slump

House prices were static last month, according to the Halifax, and stand 3.9% higher than the same period last year. Its figures were in contrast to the Nationwide, which earlier this week said prices rose 1.3% last month. The Halifax said the housing market was a bit stronger than before but it did not expect renewed sharp rises in prices.

Separately, the Society of Motor Manufacturers and Traders said new car sales were down almost 11% in October compared with October last year. Private car sales were down nearly 15%.The SMMT blamed higher interest rates and rising fuel prices.

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Higher rates may be the death of the UK property market yet, if the sentiment swings dont do it first.

My viiew currently is that the only thing which will actually cause a considerable change in prices in the UK housing market is higher interest rates.

I agree that sentiment is already a lot lower than what it was in mid-2004 but that just hasn't been enough to lower prices considerably, especially for FTBs.

People can point to higher-end properties being slashed in price all they want - and I see a lot of examples on the forum of that - but that is of no comfort whatsoever to FTBs who are still being mugged by the baby boomers, BTL spivs and their treacherous minions the Estate Agents on a daily basis.

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Cars crash all the time, property only once every 18 years or so... ;)

Looks like its time I bartered a deal on a new Scoobie next year while I'm waiting ....


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  • 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%

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