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Debate House Prices
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Nationwide -1.7% MoM. -12.4% YoY
PasturesNew
Posts: 70,698 Forumite
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FIVE TOWNS WHERE PRICES ARE HOLDING
Durham city: 2% annual rise. Average price £157,613
Edinburgh: 3% drop, £249,587
Oxford: 3% drop, £321,848
Canterbury: 4% fall, £215,608
London: 5%, £301,3010 -
12.4% year on year for the next four years might get prices to a true realistic level.
Let`s hope so.0 -
12.4% is bigger than any drop in the 1990s (source: Nationwide)
Biggest drop back then was 10.7%0 -
"Nationwide said the pace of house price falls had stabilised"
How can they possibly know this
? The graph shows a continuous downward line at a precipitous angle.
I think they may be talking about the annual drop. So what they really mean is:
"Thank God October is the last month where falls will replace 2007 rises in the annualised figures."
This is no comfort to anyone whose house will continue to fall in value, regardless of this statistic.
A steep monthly fall in November 2008 would still be a steep monthly fall, even if the annual rate becomes more "stable" :rotfl: .0 -
By the sound of the BBC report they seem to think HPI is just around the corner and lead with the suprized headline 'continue fall' as if it should all be over by now. Also bulletpointing where prices are holding. VI anyone?0
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Nonsense. They aren't "holding". [The word implies current stabililty.] They are falling fast.PasturesNew wrote: »FIVE TOWNS WHERE PRICES ARE HOLDING
London: 5%, £301,301
The fall just started later so the annualised figure isn't quite as bad.0 -
12.7 % YOY is no where near what some where predicting a year ago. 40% YOY was getting bandied about0
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Surely this can't be right.
Horseinhatman told me that his cousin's best mate knew an estate agent who said that prices were rising
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