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Realistbear

Official Figures From Hometrack Yoy Negative

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http://uk.biz.yahoo.com/12012006/140/rise-...s-december.html

House prices rose for the first time in 18 months during December, new figures show.Property website Hometrack said the average cost of a home in England and Wales edged ahead 0.1% to an average of £160,900.It attributed the increase to sellers pricing their properties more realistically and an improvement in confidence among buyers.
But despite the small overall rise, prices actually remained unchanged in 84% of the postcode districts looked at.
They increased in 9% of them and fell in 6%.
Overall, prices have ended the year an average of 1.57% lower than they started it.
Estate agents reported an unseasonal rise in sales during December.
The number of properties changing hands increased by 3.7% during the month, following a 4% rise in November.

Good news? :D

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WELL SPOTTED !!!! :)

Ahem:.."Despite improving levels of market activity over the second half of 2005, average house prices have fallen by 1.6 percent over the year. We expect them to rise, on average, by just 1 percent over 2006..

http://firstrung.co.uk/articles.asp?pageid...articlekey=1079

The trick was that they (Hometrack) went public with this on the 28th/29th..quietly ;)

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One index out of how many? 1.6% is hardly a beating now, is it?

Agreed, however, so many were waiting on HPC for the YoY negative figure. When it came it was stuffed in with a bunch of other not very newsworthy other stuff. A bit like buying condoms when you were fifteen, grab a load of other tat from Boots that you didn`t need, deodorant, toothpaste, mouthwash, Gillette g2s, Falcon hair spray, Old Spice anything.. just hoping the checkout girl wouldn`t notice the condoms but she always did :(

The YoY negative was a tipping point missed, that`s all. ;)

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On the basis that 'No news' is good news, then I suppose so !

:D

that's right, you won't see this reported on the BBC. No news indeed B)

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My fun with all of this is warping clear statistics. Very Obvious facts are there to be made.

So can anyone tell me which areas were up and down, as maybe the ups were in far off stats fields in cheaper areas with less sales weighting. Maybe the drops were where the facts really matter. In the U.K., markets generally follow after London and surrounding areas up north.

Do we have any trend leaders coming down in these negative areas, if not it's still good news as SIPPS distorted the data by putting a myth out and the pre-emptive losers of this withdrawal could have been from London or even buying elsewhere. Also price reductions are rife within house sales and these reductions may not be in the stastical data.

These figures already have been distorted with only 7% of first time buyers in it - what were people gonna do with all those 2nd houses or portfolios but cash in on a once in a lifetime tax break - A.K.A. SIPPS.

Ahh 2006 has started in a fashion I could not have imagined, good and bad.

Remember the oil defecit being longer than anything since 1980.

Thus a £200m trade defecit for the U.K. from £100m up - seemingly due to oil or lack of it, and that was in October. £300 million down in 1 month.

Presumably the same or worse to come.

Credit crunching with Portman stopping Loan to Value mortgages of 100% late last year.

Nationwide giving only 3.5 x salary - recently.

Many others stopping at 4 x recently - salary.

Insolvencies / liquidations and credit looking like the motha of all issues, money troubles in layterms.

Channel 5 mentioning the Crash word.

China insinuating a pull from the dollar.

The FED not disclosing M3 when Iran sells oil in other currencies.

Soros saying that the U.S. has a housing crash for 2007.

America is after the U.K. in this housing trend.

Oil and Gas prices up with the Russians looking for some hardball profit negotiating with it's European transit route Countries, Is that an ex-soviet thumbscrew for dissodent neighbours or pro-China or both.

And so we have some anti-western Global troubles.

Well - these are actually devestating facts and figures.

The news is pretty much pro housing crash, and bad U.K. problems - lets remember the people who will lose out. Some will hurt, bad.

Some will be BTL'ers who thought they would be making millions.

Others will be the retirement community who have taken MEW's on bad advice. My parents thought of doing this. They would have like the BTL'ers forced up consumer spending and at the same time lost important percentage value of their house as well as real price market costs.

Homeowners with no silly ATM housing debt don't care, they're just living in a house at maybe an affordable price.

Oh dear, the news is only good Patient First Time Buyers. (PFTB)

So for us few patient and well informed it will be bad to watch but while those who created money from nothing will then lose it and get burnt. I distinctly remember their satisfaction at making so much - after all wouldn't you if you were in the herd. There's pretty much everone around you in their expensive cars, new togs, pop idol hair, and image creating fashion mag seeminly making money. Well it's only cash in time when you sell when times are high. Are they to remember Buy low- Sell High. Some are buying High and maybe just maybe they are gonna feel the might on this tanker turning.

There really is nothing we can do but watch the analagous beamoth of that oil tanker turn. And keep coming at you bank accounts. If they are not protected then woops money and possessions gone, in fact re-possessed.

Sorry for going off track on the thread, got carried away. Hope that's O.K with all.

Edited by crash test dummy

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Guest Winners and Losers

Spun gold?

Finding this sort of data reported in the media is like looking for a needle in a haystack of spin.

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Well spotted Jason

I thought this figure was spouted alot when it was released!

Oh well, for anyone who missed it, I'll shout it out:

House Prices have Fallen 4.17%

- according to Hometrack. Do not read this messsage if you are a property bull with a weak heart.

Edited by Jason

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In real terms that's about a 5% fall. 5% of 350K is not a paltry sum - it's 17.5K. I wouldn't like to lose 17.5K, let me tell you!

Yes, but Mr. Average is only interested in nominal terms and if they are not dropping much in nominal terms wouldn't it be a good idea to buy and let inflation erode the value of the debt?

As a quick aside, the rented house I am leaving has been on the market for about a week and it's already had an offer on it. The market in my area certainly seems to be fairly strong at the moment.

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  • 302 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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