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House Price Crash Forum

Halifax Dec '20


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20 minutes ago, rantnrave said:

Nice BBC headline - shame it's only to be found on the business pages:

Soaring house prices in 2020 likely to slow this year, says Halifax


How many times can they say exactly the same thing - prices soaring, but downward pressure to come is basically every housing market report for the last 9 months

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2 hours ago, rantnrave said:

Despite the report title, this is likely to be based on Oct and Nov 2020 data...

Good point. The market is now frozen, and I am seeng reductions and lots of “NO CHAIN” listings. I made an offer last week, asking price after 2 days on the market. It was fairly priced which I why I went for it, but they took it off the market 2 days later. They ether think they can get more by waiting till spring or the lockdown spooked them. Couldn’t get to the bottom of it, the agent was very shifty. I think it is the former as they will buying into the headlines of house price boom etc. They may have a rude awakening come April...but they may not. I have no idea any more :) going to keep making offers that I think are reasonable value on homes I like, which are few and far between if I’m honest, and ignore the background noise.

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Theres two towns near me, Yorkshire coast.

Number of transaction have been bumping along multi decade lows since 2008.

Prices have been flat since 2004ish.

Both showed a slight up tick in number of sales in Summer - but only after transaction fell to nothing for Mar Apr Jun.

Since summer transaction have slightly recovered in the larger town, but prices are15%-20% off.

Transaction have collapsed in the smaller place, which suffers from holiday lets.

In short, it appears  banks are not advancing mortgages for investment / specialist lending.

And resi prices appear to being market down by banks /surveyors.



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7 minutes ago, spyguy said:

Dont think theres any chance of that on resi.

Btl, 2nd homes, holiday let's..... bend over and get the vaseline ready.


As much as I want reform on Resi, I fear you are right.  They can atleast make people prove which house is the primary - but then again, that would put MPs out.

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