Thursday, September 11, 2008

A nice summary: “the clear message is prices are going down.”

Where is housing market heading?

Hometrack HPI - August: House prices fall 0.9%. Annual house prices fall 5.3%. Halifax HPI - July: House prices fall 1.8%. Annual house prices fall 10.9%. House prices continued to decline in August Nationwide HPI - August: Property prices slip by 1.9%, falling for the ninth consecutive month. Land Registry - July: Annual house price growth declined to -2%, the 11th monthly fall in a row in July. Rightmove HPI - August: Asking prices fell 2.3%. Rightmove says number of new sellers hits historical August low Bank of England lending figures - July: Number of mortgages approved falls to new low. Rics - In August, 81% percent more chartered surveyors reported a fall than a rise in house prices, a decrease from 83.1% in July. it's hard to see prices going anywhere but down well into '09

Posted by disillusioned @ 10:20 AM (659 views)
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7 thoughts on “A nice summary: “the clear message is prices are going down.”

  • ‘House prices continued to decline in August, reaching levels last seen in February 200, according to Halifax.’

    Things are that bad?

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  • Nice article. States that the price declines are slowing and speculates nearing bottom of the market. Read it!

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  • Nice article. States that the price declines are slowing and speculates nearing bottom of the market. Read it!

    LOL!

    “The UK housing market showed no sign of recovering in August [….]
    Looking into the myfinances.co.uk crystal ball it is hard to see prices going anywhere but down well into 2009.”

    That doesn’t sound like a bottoming market to me. Wishful thinking from ‘Realitycheck’ IMO.

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  • C'mon Correction says:

    Yes, time to take off the ‘UK-housing-market-rose-tinted-glasses’ I think ReailtyCheck.

    You’re right in one way though – we are seeing a Realitycheck for home-owners.

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  • In the words of the legendery Quo:

    “Down, down deeper and down”

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  • Letsgetreadytotumble says:

    They don’t include auctions where declines have been 25%.
    Realitycheck, check out the British and World economies. This whole thing is unfolding before your very eyes and will continue to effect house prices for some time to come, at least another 2 or 3 years.

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  • it_is_going_with_a_bang says:

    Well yes it can be a long term investment. True. But face facts here. The trend on housing is one of people not being in the same place long term.
    Would you want to ‘have to be’ in the same place for 10 + years because you bought at the top of the market? and in negative equity.

    An investment for the long term it may be – but that doesn’t make it a good investment if bought at the wrong time for the wrong price.

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