Thursday, February 5, 2009

I thought prices were going up???

House prices to fall 38%

I'm so confused, the Halifax told me that prices were up 1.9%. Someone is lying,,, please help me out here guys

Posted by gozbong72 @ 11:18 AM (1103 views)
Please complete the required fields.



7 thoughts on “I thought prices were going up???

  • ontheotherhand says:

    Volumes are so low that the seasonal adjustment and the mix adjustment make a big difference. Mix adjusted only, prices recovered 0.8% and did not “reverse December’s gains”. Adjusting for seasons based on historical seasonal trends in a more ‘normal’ market is problematic.

    Reply
    Please complete the required fields.



  • Go on http://www.bullionvault.com click the markets tab and look at the difference between what people will buy and sell gold for, i.e. the spread.

    If this showed the housing market instead of gold the spread would be huge. The Halifax have just reported what the sellers are prepared to sell for but one wouldn’t say that was the price of houses, the price is the one where buyers and sellers agree, i.e. strike price. The problem with the housing market is that buyers can’t raise their offer price (credit crunch) so sellers will slowly reduce their offer price until the 2 meet. HOUSE PRICES DON’T GO DOWN A BIT A MONTH.

    To work out the current house price,

    average_deposit/(1-LTV) = current_average_hp

    i.e. 30k/(.25) = 120k – and I don’t think many people have 30k deposits

    Reply
    Please complete the required fields.



  • Aren’t you calculating the ‘average’ house price here based on a first time buyers criteria.

    They tend to buy 1 & 2 bed flats which in the South East would tend to rent for 5-800 per month.

    The cost of a £100k mortgage (interest only) is about £300 per month.

    I suggest a young couple could get hold of £25k if they’re both employed and saved for 2 years (only £1k per month).

    Anyway if they can rent out at £500 per month BTLers will pay £100k + and rent back to those without deposits.

    I don’t personally agree with this but it’s how things are.

    Reply
    Please complete the required fields.



  • We had more instructions last month. The buyers bought because the prices were low enough to attract them. The sellers sold because they dropped their prices. One client bought a house to rent out rather than leave the money in the bank to get get zilch interest.
    So many people selling up to emigrate!

    So no I don’t believe the stats.

    Reply
    Please complete the required fields.



  • Someone will make a fortune from gold, but who,when,where?

    Don’t get greedy when the big boys are needy!

    Reply
    Please complete the required fields.



  • I called the Halifax the other day about a extremely small roadside 2 bed retirement cottage in North yorkshire. Sold for £46k in 2001
    On their books at the moment for £199,999.00!!!!!

    I got a youngish sounding girl who constantly talked over the top of me, telling me that house prices will definetely be rising again in 2009!! According to Right Move. In the end I just hung up.

    I would welcome a general boycott of the Halifax by all potential FTB’s in the country. Even when prices reach bottom. And subsequently revert back to 2000 prices, we should all still boycott such a company.

    Reply
    Please complete the required fields.



  • If Estate Agents think they can knock 50% off, and get away with it. THINK AGAIN. Ask yourself a more fundamental question.

    Q. Why are house prices in freefall?

    A. Because the market cannot survive without FTB’s.

    When all these speculators talk about how much they will drop by. 38%, 70%. What they are really doing is trying to forecast WHEN FTB’s will return to the market. We wont be returning until they reduce threefold. Back to 2000 prices, when this bubble began./

    The longer Estate Agents keep prices high. The longer there is for that message to reach EVERY FTB out there.

    WE CONTROL HOW FAR HOUSE PRICES WILL FALL. NOT THE TREASURY, THE VENDORS, BANKS OR ESTATE AGENTS.
    IF YOU ARE A POTENTIAL FTB, YOU SHOULD FEEL EMPOWERED.
    ITS YOU WHO CONTROLS HOW FAR THE MARKET WILL DROP. IF WE ALL STICK TOGETHER THEY WILL COME ALL THE WAY BACK DOWN TO 2000 PRICES. THEY WILL HAVE TO!

    THE ONLY QUESTION IS WHEN :0)

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>