Average House will loose 26k in 2008 !!!

justpurchased

lostinrates wrote: »

LOL, before moving in with my parents DH and I had a dinner party at least once a fortnight....I'm not saying we are not self important:o , but that we will probably keep going to dinner parties.;)

Come on how many new cars, and 50" plasma screens, and johny can poo on his own now look!:eek: have you seen now.:D .

lostinrates

justpurchased wrote: »

Come on how many new cars, and 50" plasma screens, and johny can poo on his own now look!:eek: have you seen now.:D .

Hm, well, cars are usually in the garages, tvs in neither drawing room nor dining rooms where we tend to go and children rarely up....but when they are I quite like them.

RichOneday_2

This is becoming entertaining now - there you see, its a lot better when people get on and stop squabbling. :j:T

lostinrates

RichOneday wrote: »

This is becoming entertaining now - there you see, its a lot better when people get on and stop squabbling. :j:T

I pretty much always get on with most posters here. The others I let chase their own tails (reminds me, erroneously, of the phrase why have a dog and do your own barking)

justpurchased

RichOneday wrote: »

This is becoming entertaining now - there you see, its a lot better when people get on and stop squabbling. :j:T

Shut up you do gooder:D .:rotfl:

RichOneday_2

justpurchased wrote: »

Shut up you do gooder:D .:rotfl:

I knew it was too good to last! :mad::mad:

StevieJ

RichOneday wrote: »

Erm, not quite. It will give the impression that the 'rate of fall' is bottoming out, not that the market is bottoming out.

Same thing, we are talking about perceptions here e.g. if the annual falls go Aug 10%, Sept 6%, Oct 3% (obviously exaggerated) the perceptions of Newspapers (i.e. the minds of the great British public) may switch from crash to soon to recover.

RichOneday_2

StevieJ wrote: »

Same thing, we are talking about perceptions here e.g. if the annual falls go Aug 10%, Sept 6%, Oct 3% (obviously exaggerated) the perceptions of Newspapers (i.e. the minds of the great British public) may switch from crash to soon to recover.

No, no, no, no. At the moment the rate of fall is still INCREASING. We have got some way to go before the rate of fall stops increasing. The fall will bottom out when Dec2008=Dec2007 and Jan2009=Jan2008 but prices will still be falling in double digits Y-O-Y.

As for any month being more positive, for want of a better phrase, than the same month in the previous year I think a telescope is needed to see that far ahead.

ad44downey

ultra10 wrote: »

No Link because i've extrapolated this myself, according to Nationwides figures the break-down so far in 2008 is as follows ..
Aug drop = £4662 :eek:
July drop = £3099
June drop = £1168
May drop = £4972
Apr drop= £555
Mar drop= £248
Feb drop= £1115
Jan drop= £1607

Total so far £ 17426 divided by 8 months is an average drop of £2178 per month....
£2178 x 12 = £ 26139 is my analysis flawed, but as we are only just entering Recession I can't imagine anyone thinking property prices will bottom out by Christmas time !!! Also note the losses for the last 4 months as opposed to the first 4 months of 2008 !!! ... an indication of how great the total losses are going to be !!!! HUGE !!!

Here's a spanner in the works? Apparently house prices have only fallen 2% in the last year and even went up in London? :eek:

http://www1.landregistry.gov.uk/houseprices/

Land Registry

HPI News
Annual house prices in England and Wales fell by 2 per cent in July to prices last seen in spring 2007. The average house price is £178,364, which is also a decrease month-on-month of 0.6 per cent from £179,455 in June.
London was the only region in England and Wales to experience an increase in its average property value over the last 12 months, with a movement of 1.7 per cent taking the average London house price to £348,366. Both London and the North East experienced the highest monthly rises with increases of 0.7 per cent.

StevieJ

Gangstabird wrote: »

SteveJ, I know what you are saying, but even with both parents working a couple of interest rate hikes will make houses have to come down for the property market to ever get going again. I am not going to make or lose any money out of this situation. I have enough friends who are BTL's and they are very worried at the moment. These are real people, not just my own speculation. Some are paying parts of their mortgages as their fixed rates finished and the rent just doesn't cover it. Separate point I know, but people are very fickle. To an extent they will make the market continue to crash by talking it up and just simply not buying.

I just can't see houses going back to the peaks they were at, not again. The people who str 6 months ago were very shrewd in my opinion.

Where do you get the interest hikes from? interest rates will be reducing sharply soon ( possibly down by up to 2%) I can also see some of the Middle Eastern oil profits being used to buy UK banks at knockdown prices and thus creating more liquidity in the market. House prices were probably overpriced (the market is correcting, that is what markets do) but some of the hysterical claptrap that is bandied around is quite amusing ( 66% crash, really?)