Jump to content
House Price Crash Forum
Sign in to follow this  
rantnrave

Halifax -0.9 September

Recommended Posts

While the headline is exciting, I see it more as a correction to some very bullish figures they've put out in recent months (Up 2.7% MoM last time round!).

YoY falls to 8.6%, down from 9%. Still running significantly ahead of other indices though.

Full VI blurb: http://www.lloydsbankinggroup.com/globalassets/documents/media/press-releases/halifax/2015/housepriceindexseptember2015.pdf

Edited by rantnrave

Share this post


Link to post
Share on other sites

Nothing selling in my area - asking prices 20%+ on last year. Will be interesting to watch over the next 3 months. Stalemate is probably all that's going to happen for now.

The house I used to rent (moved in Aug) is now on the market - £675k for a 2 bed - owners are boomers attempting to retire. That price is kite flying, but I love the idea of them chasing the market down over the next 2 years, would be a nice lesson in the basic laws of economics. Something they haven't had to worry themselves about for the last 30 years.

Share this post


Link to post
Share on other sites

About bloody time.

We need circa 1% for the next 60 months :lol:

Nothing selling in my area

Same here....yet LOADS of SOLD signs on public land not really associated with any house....weird that.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

While the headline is exciting, I see it more as a correction to some very bullish figures they've put out in recent months (Up 2.7% MoM last time round!).

YoY falls to 8.6%, down from 9%. Still running significantly ahead of other indices though.

Full VI blurb: http://www.lloydsbankinggroup.com/globalassets/documents/media/press-releases/halifax/2015/housepriceindexseptember2015.pdf

9% in a year...H**L C**P.

That's insane.

Share this post


Link to post
Share on other sites

Nothing selling in my area - asking prices 20%+ on last year. Will be interesting to watch over the next 3 months. Stalemate is probably all that's going to happen for now.

The house I used to rent (moved in Aug) is now on the market - £675k for a 2 bed - owners are boomers attempting to retire. That price is kite flying, but I love the idea of them chasing the market down over the next 2 years, would be a nice lesson in the basic laws of economics. Something they haven't had to worry themselves about for the last 30 years.

I'm guessing a geographical split, where is that? About 40% of stock sold in Nottingham, the most since about 2003 and low volumes too. That in the context that the market is still probably sub 2007, and for the last 12 years we have been limping along on sub 20% sold to stock ratios, so it seems very strange seeing nearly half the stock sold. I always call it as I see it and for the last ten years I have let everybody know how bad it is, so no bias here. If the market falls off a cliff i will be the first to report.

Basically home ownership has been a bit of a disaster this last decade here.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

I'm guessing a geographical split, where is that? About 40% of stock sold in Nottingham, the most since about 2003 and low volumes too. That in the context that the market is still probably sub 2007, and for the last 12 years we have been limping along on sub 20% sold to stock ratios, so it seems very strange seeing nearly half the stock sold. I always call it as I see it and for the last ten years I have let everybody know how bad it is, so no bias here. If the market falls off a cliff i will be the first to report.

Basically home ownership has been a bit of a disaster this last decade here.

Oxford. So within the South East vortex.

There doesn't seem to be any forced sellers, there's a house in our old street that has been on for well over a year. 2 bed, went on at £725k :o Now reduced to £650k - still a tad too high even in for the greater fools - It's a nice 2 bed, but it's been empty for well over a year now so the owners obviously aren't in a hurry to sell and obviously don't need the rental income. It's too small to be a family house, and there aren't many young professionals that can afford to pay that amount using the quaint act of working for a living, so it's waiting for some downsizing boomers. Even they are baulking at the cost.

This country is really is a pile of shite for the productive.

Share this post


Link to post
Share on other sites

Oxford. So within the South East vortex.

There doesn't seem to be any forced sellers, there's a house in our old street that has been on for well over a year. 2 bed, went on at £725k :o Now reduced to £650k - still a tad too high even in for the greater fools - It's a nice 2 bed, but it's been empty for well over a year now so the owners obviously aren't in a hurry to sell and obviously don't need the rental income. It's too small to be a family house, and there aren't many young professionals that can afford to pay that amount using the quaint act of working for a living, so it's waiting for some downsizing boomers. Even they are baulking at the cost.

This country is really is a pile of shite for the productive.

South East has taken the prices to beyond the limit of affordabilty and prices are well up on 2007. That might be why the market is struggling. I'm guessing the East and East Midlands has picked up a bit on the ripple, but in all porbability we will see nothing like the price rises you have had since 2010.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

Oxford. So within the South East vortex.

It's too small to be a family house, and there aren't many young professionals that can afford to pay that amount using the quaint act of working for a living, so it's waiting for some downsizing boomers. Even they are baulking at the cost.

Having my own small building firm, I tend to work quite a bit in the surrounding villages of Oxford. Hence I get to see areas during the daytime as well as during the weekends and evenings.

The most obvious and striking detail to notice is the sheer lack of 30-40 somethings occupying the houses in places like Kidlington, Witney and Wheatley, areas with large estates that are on the whole privately owned or former council i.e. no longer social housing. There are stacks and stacks of silver haired folk 60+, and lots in their 80s, especially in Kidlington which used to be demographically quite young in the 60s, 70s, 80s and early 90s.

I do wonder what is going to happen in the next 10 years or so, who is going to be buying these places when the owners pass away?

Edited by maffo in oxford

Share this post


Link to post
Share on other sites

Having my own small building firm, I tend to work quite a bit in the surrounding villages of Oxford. Hence I get to see areas during the daytime as well as during the weekends and evenings.

The most obvious and striking detail to notice is the sheer lack of 30-40 somethings occupying the houses in places like Kidlington, Witney and Wheatley, areas with large estate that are on the whole privately owned or former council i.e. no longer social housing. There are stacks and stacks of silver haired folk 60+, and lots in their 80s, especially in Kidlington which used to be demographically quite young in the 60s, 70s, 80s and early 90s.

I do wonder what is going to happen in the next 10 years or so, who is going to be buying these places when the owners pass away?

To be fair, during the day most people of working age are at work, but I agree, many family houses are now occupied by retired people rattling around in them, and it's not just the outlying areas - central Oxford is the same. That house I mentioned in the last post is next door to a 2 bed house occupied by 3 working sharers and has a bed in the sitting room. The productive workforce are crammed into a tiny house, while next door is left empty while the owners wait for someone to pay what they think its worth. In a functional market it'd be worth what a potential working person/ couple could afford - but in rentier-ZIRP UK it's worth "18x the local average wage or I'm not selling it"!

The L'Oreal economy.

Share this post


Link to post
Share on other sites

To be fair, during the day most people of working age are at work, but I agree, many family houses are now occupied by retired people rattling around in them, and it's not just the outlying areas - central Oxford is the same. That house I mentioned in the last post is next door to a 2 bed house occupied by 3 working sharers and has a bed in the sitting room. The productive workforce are crammed into a tiny house, while next door is left empty while the owners wait for someone to pay what they think its worth. In a functional market it'd be worth what a potential working person/ couple could afford - but in rentier-ZIRP UK it's worth "18x the local average wage or I'm not selling it"!

The L'Oreal economy.

It could still be 2007, so little has changed.

_44131249_northernrockpa203jpg.jpg

Share this post


Link to post
Share on other sites

To be fair, during the day most people of working age are at work,

They are, but during the day you get to see how just many houses have oldies outside washing the car & doing the garden. They tend to stay inside at night time ;)

Share this post


Link to post
Share on other sites

It's not just in Oxford where the silver-haired live in large family houses with gardens it's everywhere I've been to. They are house-blockers and should be ashamed that families with children are crammed into tiny places. Many of these aged folk have lived in the same property for years so when their families were young they had the benefit of a family home. They don't see it though and instead moan about the lack of interest on their savings.

Share this post


Link to post
Share on other sites

Don't you understand after the war and up to around the 60s and 70s we built many good houses, family homes....why many of the oldies probably helped build them......what have we done since....not a lot. The problem is the shortage of homes not the people that live in them, that is why we have a problem....

Share this post


Link to post
Share on other sites

It could still be 2007, so little has changed.

_44131249_northernrockpa203jpg.jpg

That brings back memories, I had a lot of money in Northern Rock...................... After they were bailed out and paying 6.8% with unlimited treasury guarantee................... Happy days.

Share this post


Link to post
Share on other sites

That brings back memories, I had a lot of money in Northern Rock...................... After they were bailed out and paying 6.8% with unlimited treasury guarantee................... Happy days.

Werent some of those accounts guaranteed rates ad infinitum ?

Share this post


Link to post
Share on other sites

Don't you understand after the war and up to around the 60s and 70s we built many good houses, family homes....why many of the oldies probably helped build them......what have we done since....not a lot. The problem is the shortage of homes not the people that live in them, that is why we have a problem....

rubbish!

There are plenty of homes......they're just not being used in the most efficient way.

Share this post


Link to post
Share on other sites

rubbish!

There are plenty of homes......they're just not being used in the most efficient way.

...depends where you live..........there is no getting around it, we need as a nation to build more homes......we have encouaged it, we now have to provide for it, it is not all take, take...sometimes something has to give.

Share this post


Link to post
Share on other sites

Werent some of those accounts guaranteed rates ad infinitum ?

Sadly not, otherwise I'd still be enjoying them. Virgin bought NR and the unlimited Treasury guarantee was withdrawn. Virgin gave good rates for a year or two but are now easily bettered.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   90 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.