Friday, May 4, 2012

For April 2012 (seasonally adjusted)

Halifax House Price Index

Annual change -0.5% Quarterly change +0.3% Monthly change -2.4% Average Price £159,883

Posted by dill @ 08:54 AM (2934 views)
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24 thoughts on “For April 2012 (seasonally adjusted)

  • little professor says:

    Don’t bury the lede, dill.

    Monthly change -2.4%

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  • happy mondays says:

    I shall keep my fingers crossed & click my heels 3 times.. 🙂

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  • richy richless says:

    What a whopper! Lets see how this will be reported..

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  • “On a monthly basis, house prices fell by 2.4% in April. This more than offset the
    previous month’s 2.2% increase as prices continue to fluctuate month-to-month.”

    This is clearly not true, house prices are not fluctuating in price.

    That fact that the Halifax data is, leads me to the conclusion that their data is poorly put together.

    However the 3 month trend is more believable.

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  • little professor says:

    Halifax average house price:

    June 2004 £159,058
    April 2012 £159,883

    I thought the Wilsons said house prices would double every 7 years?

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  • mark wadsworth says:

    LP, agreed. The MoM is looking very reliable indeed, but as we saw yesterday on PhD’s chart, Halifax average was shown as increasing over the last couple of months so it was only a question of time before it fell rapidly to bring it into line with HMLR and NW.

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  • sibley's b'stard child says:

    Aha breached the magical £160k mark.

    Get. In. There.

    This should get the bears out of hibernation.

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  • Oh Look!

    Its under £160,000 – Flippin’ Ada!

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  • hash browne says:

    It’s about time!

    Still, I suspect the rags will be focussing on the 3 month rate.

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  • Who writes this stuff? So the annual drop in price changes from -0.6% to -0.5% and this is billed as an improvement- for whom?

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  • phdinbubbles says:

    Extrapolating the 2.4% monthly fall to five years will mean that houses will be 77% cheaper. I think that’s how it’ll work out. Or maybe Halifax’s data is a bit crap. Anyway, here’s the chart:

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  • mark wadsworth says:

    PhD thanks, it’s definitely looking very “second leggy”.

    Re what LP says about prices being back at 2004 levels (which is true), what strikes me is that houses are far too expensive now, and surely most people realise this, but what on earth were people thinking back in 2004? This is the new normal? I got the impression that house prices were far too high from about 2000 or 2001 onwards, that’s when i saw the first TV programmes about young couples on OK wages not being able to buy a house.

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  • The last two years figures are choppy.

    It reminds me of the fluctuations in the FTSE, do you think that there could be a link? (except for governmental interference)

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  • @ PHD excellent contribution with the chart (as usual)

    Prices are still way too high (IMHO) – my daughter has just declined to get involved in what would potentially be a very worthwhile long term purchase based on price – the vendor wants a Six figure sum for what is essentially a shell (full interior re-fit required)

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  • peter_2008 says:

    According to most press, the 2.2% increase of Feb was all genuine recovery and had little to do with end of Stamp Duty holidays. And now they are saying the 2.4% drop has everythig to do with end of Stamp Duty holidays. Very logical.

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  • sibley's b'stard child says:

    Any previous sale prices for the gaff Jack and how much £k work would be required?

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  • Sib’s – no previous history as last sale in the street was 1971. The house needs minimum £30k just to make it habitable – we went in at £65K but vendors looking for £100K+ as it stands ! As they day on dragons den “I’m out”

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  • *say*

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  • mark wadsworth says:

    Brilliant, let’s have another programme called “Dragon’s Camp” where a few well known people of indeterminate sexuality chat about their life and loves and then at the end of their sequence proudly stand up, drop a limp wrist* and shout “I’m out!”

    Maybe Alan Carr can host it or something. They can have Jessie J as a first guest.

    * Or whatever the equivalent gesture is for lesbian women to indicate that they are lesbian.

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  • sibley's b'stard child says:

    MW, a picture if Hazel Blears.

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  • >what where people thinking in 2004

    They were thinking “Oh sh1t. It keeps going up and up! If I don’t get on the ladder I’ll have to pay out even more for a mortgage.” Their mums and dads were telling them “Isn’t it about time you bought a house? Everyone puts their money in property. We did and now we’re sitting pretty. Look at your sister, she bought and now she’s sitting pretty. We could help you out a bit for a deposit …” etc etc.
    N

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  • Sib’s – just got the news that the brick shell (property) has sold for £101K which is utter lunacy !

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  • sibley's b'stard child says:

    Always a greater fool eh Jack? Be interesting to see if the surveyor agrees…

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  • Sib’s – I dont think a surveyor will be going near this property as I suspect it’s a cash purchase. I vaguely knew the guy who owned it (he sadly died a while back) and believe me it would make Steptoe & Son’s gaff look like Buckinham Palace ! Looks like we have a bunch of numpty’s in the UK also artificially shoring up property prices.

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