But, but, but.... they said it was a bull trap.

HAMISH_MCTAVISH wrote: »

Interesting point.

Perhaps the bears could point us in the direction of a previous UK housing market bull trap where prices rose for 6 consecutive months.;)

they can't, only the most ignorant and the obtuse would. end of.

nearlynew wrote: »

As for this little rally or "bull trap", well...............

about another 3 months.

here's where the little HPC Ghetto argument falls over when they always like to compare to the early 90s HPC...

during the whole period there was only two occasions that house prices rose (both seasonal and non-seasonal adjusted) for more than 2 months, that was between Apr-91 and Jun-91 (seasonal adjusted) and then again Dec-92 and Feb-93 (not seasonal adjusted) - both for 3 months.
http://www.nationwide.co.uk/hpi/downloads/Monthly.xls

they've risen since February - that's 6 months non-seasonally unadjusted but 3 months seasonally adjusted...

Feb-09 £147,746
Mar-09 £150,946
Apr-09 £151,861
May-09 £154,016
Jun-09 £156,442
Jul-09 £158,871
Aug-09 £160k ish (predicted to be 0.7% higher)

bull trap?? maybe... but you can't call it that forever especially not after 7 months (4 months seasonally adjusted) when they're higher again tomorrow... :rolleyes:
makes your guaranteed point weaker even worse when you think a bull trap only last 3 months...

not a HPC cheerleader by the way... i like to see the facts

Well, we didnt have the 6 month mortgage protection scheme extended to 2 years then did we you silly little bulls.

Plenty of worried little home-owners without jobs counting down the days till the gubbermint say "no more cash"

ruggedtoast wrote: »

If prices are going up so much then why are all the areas I'm looking at getting cheaper?

I would genuinely like to know.

they're not desirable areas!!!!

where in London you looking?

ruggedtoast wrote: »

I'm looking all over - Epsom, NW London, Sussex, Watford.

Most of its too expensive for us but the lower range is getting closer to our upper range.

I dont really know about places over £250k as theyre mostly irrelevant to us - but theres more stuff below that than there used to be. Certainly compared to February.

the only one that i really house price wise is NW London - for me the cheapest value wise is somewhere around Maida Vale, Lisson Grove (next to St Johns Wood) that have had some good price hits. anywhere your specifically likeing?

but i think the 'better' properties are being snapped up quite quickly.

Yakubu22 wrote: »

Some of the bulls here have forgotten what they posted on another thread only yesteday. They claimed that prices had further to fall in the short term.

So why buy anything that will be worth less over the coming months?

two things, they're both only my opinion

1. Mortgage rates will be higher. the total price of buying a house will be more expensive. an example, paying 2% more interest on your mortgage on a £160k property is £16k more you pay in mortgage interest - that's 10% extra your paying.

2. Prices have risen 7.5% since February. That needs house prices to drop more than 7% plus the mortgage interest plus your rent to have justified you not buying a house. so you need another 20% off for this to be in your favour for you to have made a good move - are you expecting more than 20% to fall of house prices and them worth £127,000... not in my opinion...

This is just my opinion and i'm not saying buy now as people do have different circumstances and some only need a small mortgage...