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OLDFTB

Halifax Quaterly 2nd Quarter Report

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Region: Greater London

• Quarterly Change (Q2 2008 on Q1 2008) -4.3%

• Annual Change (Q2 2008 on Q2 2007) -7.3%

Region: East Midlands

• Quarterly Change (Q2 2008 on Q1 2008) -7.2%

• Annual Change (Q2 2008 on Q2 2007) -6.7%

Region: South East

• Quarterly Change (Q2 2008 on Q1 2008) -6.4%

• Annual Change (Q2 2008 on Q2 2007) -7.2%

Region: Northern Ireland

• Quarterly Change (Q2 2008 on Q1 2008) -14.6%

Annual Change (Q2 2008 on Q2 2007) -21.1%

http://www.hbosplc.com/economy/quarterlyregionalcomments.asp

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Region: Northern Ireland

• Quarterly Change (Q2 2008 on Q1 2008) -14.6%

Annual Change (Q2 2008 on Q2 2007) -21.1%

http://www.hbosplc.com/economy/quarterlyregionalcomments.asp

I remember posts about people in NI being bullied into buying by friends and family. Let's hope they don't have a sudden need to sell.

Edit: I see they have played their joker early and are quoting the 10 year rise as a comparator already! :lol::lol:

Edited by the end is nigh

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Apologies OLDFTB for starting new thread but I thought the title alone deserved a 'headline'. This is where the tide officially turns.

http://www.housepricecrash.co.uk/forum/ind...p;#entry1233382

I was facinated by the information that Halifax provided to compare with. Telling us house price growth over the past 5 years and 10 years. Lets look on the bright side eh? Hmmm....

  • House prices fell by 4.3% in Greater London in Q2 2008 (quarterly losses).
  • Annually, house prices in London fell by 7.3%, above the UK average fall of 6.1%. (Year on Year Falls)
  • Over the last 5 years house price growth in the region is 33%.
  • Over the last 10 years house price growth in the region is 171%.
  • At £291,533 the average house price in Greater London is 57% above the UK average of £185,625.

The falls are reflected across ALL areas.

U.K.…….11.09%

North…….8.43%

Yorks&Humb…….3.19%

N.West…….6.71%

E.Mids…….3.47%

W.Mids…….3.59%

E.Ang…….2.93%

Wales…….6.95%

S.West…….7.21%

S.East…….7.32%

Gr.Lon…….21.14%

N.Ire…….2.05%

Scot…….6.06%

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Much better thread than mine. Thanks Elizabeth.

Your welcome. I just don't get why people don't understand the significance. After 10 years of Year on Year rises, EVERY QUARTER - RELENTLESSLY this is the turning point. And the scale of it in just one quarter says that it really is going to be a tsunami.

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Am I being thick? Were these figures released today? If not why were they not made much of when they were? Thanks.

Don't know. I am waiting and watching for the DCLG figures myself (I will let you know the day they are out). I just picked up on OLDFTBs post.

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If the London figures are down 20% yoy, then this is an official crash? I seem to remember it's 20% over a year which is the technical mark of a house price crash.

TFH

Good point. We'll be seeing that as the Express headline tomorrow won't we?

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If the London figures are down 20% yoy, then this is an official crash? I seem to remember it's 20% over a year which is the technical mark of a house price crash.

TFH

There are different perspectives on what constitutes a crash but I did hear when the Footsie dropped by 20% (don't think it has to be in one year and the last crash certainly was not) that it was now officially a bear market. From my perspective, once we have 2 quarters of negative 'growth' there will be no hiding it anymore. Regardless of the data, we 'know' the crash has arrived for real this time.

Edited by Buffer Bear

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Interestingly the tables at the back of the report are doing a 10 year comparison, i.e. prices in 1998 q2 compared to 2008 q2. Great if you bought a house 10 years ago, absolutely meaningless if you bought a year or so ago.

Me thinks they're trying to hide something? :)

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Region: Greater London

• Quarterly Change (Q2 2008 on Q1 2008) -4.3%

16.1% annualised fall.

Ouch!

This should be a pretty good guide to the falls this year. Quarter to quarter changes are not very volatile. I wonder if it seasonally adjusted though? Must find out...

Edited by mirage

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Interestingly the tables at the back of the report are doing a 10 year comparison, i.e. prices in 1998 q2 compared to 2008 q2. Great if you bought a house 10 years ago, absolutely meaningless if you bought a year or so ago.

Me thinks they're trying to hide something? :)

Yes it's fantastic isn't it?

The fall in prices last quarter needs to be seen in the context of the strong rise in house prices over the longer term.

Oh, yes it is extremely important that the MASSIVE FALLS are seen in this ten year context. Particularly if you bought in summer 07 and are deep in negative equity. Because in context, you see....well ok, you're still in negative equity and it's still going to get worse.

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• Wales Index (seasonally adjusted) 615.0

• Quarterly Change (Q2 2008 on Q1 2008) 0.4%

• Annual Change (Q2 2008 on Q2 2007) -2.9%

• Standardised Average House Price in Wales (seasonally adjusted) £159,144.

Que?

Good spot, btw OLDFTB!

Edited by mirage

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Region: Greater London

• Quarterly Change (Q2 2008 on Q1 2008) -4.3%

• Annual Change (Q2 2008 on Q2 2007) -7.3%

Region: East Midlands

• Quarterly Change (Q2 2008 on Q1 2008) -7.2%

• Annual Change (Q2 2008 on Q2 2007) -6.7%

Region: South East

• Quarterly Change (Q2 2008 on Q1 2008) -6.4%

• Annual Change (Q2 2008 on Q2 2007) -7.2%

Region: Northern Ireland

• Quarterly Change (Q2 2008 on Q1 2008) -14.6%

Annual Change (Q2 2008 on Q2 2007) -21.1%

Is this the spring bounce? :unsure:

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Annual Average Earnings £

April

Greater London

2005

44,751

2006

47,610

2007

49,728

this is what i find as the joke, i'd like to see how skewed the bell curve is. 'd like to see the mode. Edited by crash2006

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Annual Average Earnings £

April

Greater London

2005

44,751

2006

47,610

2007

49,728

this is what i find as the joke, i'd like to see how skewed the bell curve is. 'd like to see the mode.

Yes, it's ludicrously unrepresentative of the "average man".

I do wish that we would start using the median in the UK a bit more. I don't really give a toss what the average house or sallary is but the median is much more informative. The US seems to be able to deal with medians. However over there they have other anoyying statistical habits like saying "the median price fell by 6% in June" when they mean the YoY fall in June was 6%.

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OLDFTB - when were these figures out? Are they real??

As far as i know they were published within the last few days.. They are genuine.

Are you shocked at the rate of decline then?

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Annual Average Earnings £

April

Greater London

2005

44,751

2006

47,610

2007

49,728

this is what i find as the joke, i'd like to see how skewed the bell curve is. 'd like to see the mode.

Halifax use average earnings of males in full time employment (thus excluding all females, all part-time workers, and the multimillion salaries of footballers and City fat cats bring up the average, because they use average not median). That's how they can skew the earnings so high. This, in my opinion, borders on criminal public outright lying conducted by HBOS.

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Annual Average Earnings £

April

Greater London

2005

44,751

2006

47,610

2007

49,728

this is what i find as the joke, i'd like to see how skewed the bell curve is. 'd like to see the mode.

yep i was surprised to see average wage in 2007 for London was £49k and £34k for the rest of the country.

i don't believe this at all!

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  • 395 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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