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House Price Crash Forum

Halifax House Price Index Nov 2020


rantnrave
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If the average house has gained £3k+ in value this month and me and my partner are saving between £1.5k-2k a month for a deposit to buy 'an average home', how am I ever supposed to afford one? It seems to me an unsustainable, and frankly absurd situation.

Because you multiply your deposit by the lenders multiplier, sounds like you will be fine.

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I know right. Doesn't make sense. In my area I'm seeing 400k ish houses languishing for sale for months and taking 25-50k drops. 

Maybe this still fits in when you consider the declared rises only account for homes that have sold. Reading the press release between the lines, I presume there are sectors of the market that are getting totally reamed at the moment eg. Small flats in crowded city areas. 

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Over the past year there are also shitloads of flats that cannot be sold even if they wanted to be. 

When it comes to London I would think there are a lot of falls yet to be recorded - even when the certificate comes in there are many ex-new builds that will have some pretty stark drops in value.

I would guess the indexes must have a far richer blend of houses as opposed to flats, which given the preference for outside space means the indexes rising is no surprise. Anecdotally I haven't seen either nice houses struggle to be sold, neither have I seen shitter houses that are not kite-flying prices either. In fact there are houses that I am quite surprised that were SSTC at their prices, the same cannot be said for flats.

I do wonder how they will try and accommodate falling flat prices when it does happen. Probably a re-jig of the methodology, the possibilities are many.

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.

I do wonder how they will try and accommodate falling flat prices when it does happen. Probably a re-jig of the methodology, the possibilities are many.

I wonder what proportion of flats are shared ownership or HTB, so they effectively can't be sold anyway?

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I wonder what proportion of flats are shared ownership or HTB, so they effectively can't be sold anyway?

157,000 shared ownership homes or 1% of all households as per https://commonslibrary.parliament.uk/research-briefings/cbp-8828/

IIRC 20% of homes in the UK are flat flats. 

So give or take 5% of flats are currently shared ownership. 

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