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BBC - House prices dip 1.1% in November
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abaxas
Posts: 4,141 Forumite
http://news.bbc.co.uk/1/hi/business/7128308.stm
Note, this is not a house price crash tread! Don't shoot the messenger
.UK house prices fell in November as higher interest rates and increased mortgage repayment costs took their toll, the Halifax has reported.
According to the lender, house prices fell by 1.1% in November, taking the annual rate of growth down to 6.3%, compared with 8.9% in October.
The Halifax calculates that the average residential property across the UK now costs £194,895.
It added that activity in the housing and mortgage markets was also slowing
Note, this is not a house price crash tread! Don't shoot the messenger
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Another 12 months of this & I'll be happy."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
but....but... what about immigration, pent-up demand etc etc...
:rotfl::T:T:money:0 -
Well I think it is about time. How on earth are first time buyers ever going to have the chance to buy their first home. The market has been so long dominated by these buy to let parasites. Nothing would give me greater pleasure than see these people go under.
A house should be regarded as a home and not something to sell every 5 minutes to make a quick buck.
Now the first time buyers will have something to rejoyce about.0 -
house prices fell by 1.1% in November.
"That's just the lemon next to the pie... It's going to get bigger"
Bear from the film "Big Wednesday" 19780 -
My 40 -50% percent fall begins0
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Visitors to this site can't say it's surprising can they?
Don't know about 50% falls though - I suspect a long drawn out 'correction'. Which is what the country needs IMHO.
As I've said before look at the last 12 months performance of any major builder - they've all halved. The smart money knew the game was up a long ago. As usual the other 90% of the population will be left paying for the excesses of the few.anger, denial, acceptance
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Err, by saving hard and making sacrifices first time buyers can still get on the ladder. Wishing people would go under isn't a nice thing. We live in a capatalist society and if people can afford it why shouldnt they? I'm not defending them but their right to do this. It didnt help me but I'm not bitter about it. I just had to work my !!! off some more, save up some more money and pick my property and location carefully.Well I think it is about time. How on earth are first time buyers ever going to have the chance to buy their first home. The market has been so long dominated by these buy to let parasites. Nothing would give me greater pleasure than see these people go under.
Totally agree but unfortunately where money is to be made people will always invest.A house should be regarded as a home and not something to sell every 5 minutes to make a quick buck.
What, a credit crunch where people are going to find it harder to get a mortgage without a huge deposit. Omg, if they had a huge deposit anyway they could have afforded a mortgage. This credit crunch will do no one anygood until the market has stabilised and we see what happens then.Now the first time buyers will have something to rejoyce about.0 -
I think more realistically house prices will stand still rather than fall, then eventually rise much more slowly i.e. 1% a year, not 10%+
If they do drop, then I guess if I want or need to move, I'll rent my flat out rather than selling it, and either buy something else, or rent. I know others who also plan to do the same. If prices drop and many end up with negative equity, then rather than selling their house, they'll rent it out, then rent elsewhere. Could this lead to a shortage of properties on the market? (other than new houses being built)Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
If prices dropped that much and the fact I can still afford my property I'd more than likely look to rent it out and then purchase something else. Which is something I wouldnt normally think of doing but then I'd also end up with a rental property I didnt expect. Hmmm maybe it is a good thing.0
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carpetbelly wrote: »Err, by saving hard and making sacrifices first time buyers can still get on the ladder. Wishing people would go under isn't a nice thing. We live in a capatalist society and if people can afford it why shouldnt they? I'm not defending them but their right to do this. It didnt help me but I'm not bitter about it. I just had to work my !!! off some more, save up some more money and pick my property and location carefully.
Perhaps I was a bit harsh but the current housing market has been driven by greed. Some people never seem satisfied with what they have but always want more.0
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