house price drop 'slows down'...

stevetodd

ad44downey wrote: »

Wait until house prices actually go UP in one month before you call the bottom of the market please

absolutely! we are nowhere near the bottom yet, there might even be small rise in a year or so followed by further stagnation

sympatex

Adding an additional note i think the land registry figures which include auctioned properties will start coming into the equation now. And they are the most reliable figures. (though don't include repo's so still some distortion).

Really2

sympatex wrote: »

Isn't this something to do with "How much did it fall last november?" The declines in house prices should flat line but still be negative given that its over 12months now of constant falls, i could be wrong of course.

There's some question marks over how many new buyers there are and what %of the market nationwide now occupy. Think it's going to cocntinue like this or get worst after the Christmas period when all those mastercard/visa bills come in.

The fall is 0.4% but last years figures affect the YOY.
So YOY is up from -14.6% too -13.9 as this figure is a low figure.
If you get what I mean.

Really2

sympatex wrote: »

Adding an additional note i think the land registry figures which include auctioned properties will start coming into the equation now. And they are the most reliable figures. (though don't include repo's so still some distortion).

I dont think they do.
But they are the most accurate but in three months will show figures very close to this.

kennyboy66_2

!!!!!!? wrote: »

We didn't get into this mess because "all people wanted was a house to live in".
And which people here are labeling anyone buying a house as "fools and sheeple"? Opining that it's a bad time to buy is quite different to actively ridiculing someone who wants to buy.

No, we got in this mess because people took out 100-125% loans, liar loans, speculated on "flipping" flats, MEWed on their property to spend on holidays etc & BTL'ers competing with FTBers.

According to the Nationwide (assuming they are not fiddling the figures:rolleyes:) more than 84% of FTB'ers have a deposit of more than 10%.

The point is that it is millions if individuals decisions that make a market, however as people are reluctant to blame themselves for over-stretching, it must be the fault of someone else, usually a politician.

wintersunshine

poppysarah wrote: »

You should be in mourning for the country going to the dogs.
If Gordon keeps house prices up it means that everyone is screwed.

A collapse in the housing market will do no-one any good, I don't understand why you can't see this?

wintersunshine

!!!!!!? wrote: »

We didn't get into this mess because "all people wanted was a house to live in"..

No apparently we got here because of the greedy BTLers:rolleyes:

Cannon_Fodder

wintersunshine wrote: »

A collapse in the housing market will do no-one any good, I don't understand why you can't see this?

It might hurt some people, and you might wish to avoid that, fair enough.

But to say "NO-ONE" will benefit is, sorry to say, simply tosh.

Whoever gets to buy a house cheaper than they would otherwise have done, is setup for a less expensive mortgage, which hopefully leads on to not HAVING to maintain dual-incomes to the detriment of home-life/childcare etc etc.

Really2

Cannon_Fodder wrote: »

Whoever gets to buy a house cheaper than they would otherwise have done, is setup for a less expensive mortgage, which hopefully leads on to not HAVING to maintain dual-incomes to the detriment of home-life/childcare etc etc.

not trying to be HPI, but some (if not a majority) women want to work at least part time after having a baby. So dual income faimliys will generaly price out single income familys.
Saddly a fact of life in a modern society.

Generali

wintersunshine wrote: »

A collapse in the housing market will do no-one any good, I don't understand why you can't see this?

The collapsing house market is the effect not the cause.