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Halifax May 2015 -0.1%

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Commenting, Martin Ellis, housing economist, said:

"House prices in the three months to May were 2.0% higher than in the preceding three months. This

measure of the underlying rate of house price growth eased for the second consecutive month, falling to

its lowest since January. Annual house price growth, however, rose marginally from 8.5% in April to

8.6% and continues to be in the narrow range of 8-9% where it has been throughout 2015 so far.

Housing supply remains extremely tight with the stock of properties available for sale currently at its

lowest level for many years. At the same time, ongoing economic recovery, increasing employment, real

earnings growth and very low mortgage rates are all supporting housing demand. This combination has

kept annual house price inflation well above earnings growth although activity levels are subdued.

The imbalance between supply and demand is likely to continue to push up house prices over the

coming months. Looking further ahead, the increasing level of house prices in relation to earnings is

expected to dampen house price growth.

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Is this the government owned bank who offers savers **** all interest because they use printed money direct from the BoE's computer ?

Some of the people there should be in prison now not lending money to people to keep their balance sheet feasible.

This is one sick joke.

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What will accelerate the downward falls?

Vendors are still stuck in 2013/14 prices + 10% HPI mode.

The arrest of Osborne and some of his banker chums on fraud charges ?

I find it hilarious that we are being fed stories of FIFA corruption then a few men can rip off an entire country!!!!

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Commenting, Martin Ellis, housing economist, said:

"House prices in the three months to May were 2.0% higher than in the preceding three months. This

measure of the underlying rate of house price growth eased for the second consecutive month, falling to

its lowest since January. Annual house price growth, however, rose marginally from 8.5% in April to

8.6% and continues to be in the narrow range of 8-9% where it has been throughout 2015 so far.

Housing supply remains extremely tight with the stock of properties available for sale currently at its

lowest level for many years. At the same time, ongoing economic recovery, increasing employment, real

earnings growth and very low mortgage rates are all supporting housing demand. This combination has

kept annual house price inflation well above earnings growth although activity levels are subdued.

The imbalance between supply and demand is likely to continue to push up house prices over the

coming months. Looking further ahead, the increasing level of house prices in relation to earnings is

expected to dampen house price growth.

So increasing real earnings growth is helping to push up prices. But looking further ahead, real earnings growth is being outstripped by rising house prices, and that is going to dampen house price growth.

I once read that David Bowie wrote songs in the 70s by cutting out words from newspaper headlines, bunging random ones together, and seeing what popped out. I think Martin Ellis is a fan.

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and very low mortgage rates are all supporting housing demand

Anything significant in this choice of wording, or am I just getting used to in depth analysis of every character in a Fed statement?

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It's got way past the point where surely many Estate Agents are hoping prices fall just so they can survive. The banks are a law unto themselves (hard to tell if they're bothered by a low-volume-sale housing market), but EAs must rely on a decent volume of sales. Makes you wonder if EAs are frustrated when sellers come to them with daft prices, and they just KNOW the house is going to be stuck on the market for 6 months doing nothing, by which time the seller considers dropping from £350K to £348K, then takes it off the market 3 months later. That's a loss of time and expense to the EA. An EA will make more money selling 3 times as many properties at 25-30% reduction from the get-go. Easier mortgage approvals, more completions, more money. Are they f**king thick or what?!

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I don't think EAs are much in control. Local EAs should have a fair idea of how much a house will sell for but may have a hard job getting it in the Vendor's head. In the current market EAs job is like selling glasses to the blind(vendors).

Vendors, heard mentality, like to think my neighbour's house sold for £x, hip y% so my house should sell for £x+y.

To change that mentality the media should constantly hammer negative HPI and show that the future is even worst.

Edited by Fairyland

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If I were an EA I would be lobbying to replace stamp duty with an annual tax.

I am not but I still think it would be fairer, it would give more liquidity in the market.

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It's got way past the point where surely many Estate Agents are hoping prices fall just so they can survive. The banks are a law unto themselves (hard to tell if they're bothered by a low-volume-sale housing market), but EAs must rely on a decent volume of sales. Makes you wonder if EAs are frustrated when sellers come to them with daft prices, and they just KNOW the house is going to be stuck on the market for 6 months doing nothing, by which time the seller considers dropping from £350K to £348K, then takes it off the market 3 months later. That's a loss of time and expense to the EA. An EA will make more money selling 3 times as many properties at 25-30% reduction from the get-go. Easier mortgage approvals, more completions, more money. Are they f**king thick or what?!

If you listen to them its all fantastic

But if you call them and or know who works there the teams seem to be getting smaller, the response times slower etc etc

Toxic combination in sales departments high client expectations, media pumping and not much to actually sell which is the worst element

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I am not but I still think it would be fairer, it would give more liquidity in the market.

Fairer for whom ?

WE ALL PAY TOO MUCH TAX.

I'm happy to pay a portion of my income to help run society but the 60+% of actual and hidden taxes has gone to far.

The people taking the money and living off it think they have some divine right to steal from people.

Enough is enough.

Edited by TheCountOfNowhere

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Well, that's official then.

The crash starts the week after I complete on my house.

I kind of thought that would happen.

Just to say: the wait is over everyone - it begins here.

And, no, I am not being sarcastic. I mean it. I have taken the plunge and now prices will indeed do the same.

Still, debt slavery aside, at least the landlord can't move me on at a whim any more.

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Well, that's official then.

The crash starts the week after I complete on my house.

I kind of thought that would happen.

Just to say: the wait is over everyone - it begins here.

And, no, I am not being sarcastic. I mean it. I have taken the plunge and now prices will indeed do the same.

Still, debt slavery aside, at least the landlord can't move me on at a whim any more.

Is this place infested with Trolls now ?

Maybe a sure sign the market has collapsed big time

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Why is somebody who joined in 2009 and has 342 posts a troll?

As a long time (if quiet) supporter of a lot of what the CountOfNowhere has said, I meant to encourage him, and others to genuinely say: hold firm, the crash is coming.

I can feel it (I know hunch-economics is not economics). It was almost palpable as I signed the contract.

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_82208210_uk_house_prices_624.png

^ Above is the BBC's chart for the April release. The BBC headline today reads "Homes for sale lowest for years, says the Halifax"

Edited by Ash4781

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I am sure the lenders are worried about the loss of volume.

Is this some kind of mental preparation going on for sellers about an incoming drop? After few days we will see the media reporting how houses are expensive and need to fall for younger generations to come on the ladder….. all sorts of excuses/justification.

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As a long time (if quiet) supporter of a lot of what the CountOfNowhere has said, I meant to encourage him, and others to genuinely say: hold firm, the crash is coming.

I can feel it (I know hunch-economics is not economics). It was almost palpable as I signed the contract.

Hey man, if you are genuine and you have bought I hope you got a price in line with the land registry and not the crazy asking price.

People want to buy houses and there's as much chance of them being right as the people on here.

I still dont think anyone buying at land registry prices right now is doing too badly, it's the loonies buying in London and the loonies in the shires (moving out of london and ) paying top whack for mediocre houses that the local economy cant's sustain that are going to have real problems in the future, IMHO.

Good luck, but I still query why anyone comes on here to tell us they are buying a house at what now looks like a secondary peak of the bubble ( off the back of HTB/FLS and pre-election media propaganda ).

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