Halifax -2.6% in November

Really2

ad9898 wrote: »

And don't forget inflation, so thats over 20%.

Ah but a mortgage does not rise with inflation. So inflation adjusted "savings" only count when you are purchasing (which most of you are.:j );) (But also providing any of you actulay got a payrise:();)

Really2

dopester wrote: »

What do you mean? On the way up they never exactly mirrored each other either.

You can't look at it month-on-month and draw full conclusions. Try 6 months+.

Maybe Nationwide's December or January release with be -3% or -4%.

No not disputing either but when their is a 2% difference in one month that is fairly major.

Just saying that it will be clearer in three months what the "actual" drop was.

luvpump

Prices continue to fall at about £800 a week, with no end in sight yet... .

beecher

luvpump wrote: »

Prices continue to fall at about £800 a week, with no end in sight yet... .

wow, when you read it like that, it is quite astonishing. Over £100/day! And yet there are still people on these forums contemplating buying, or thinking they have equity in their houses recently with no deposits!

We've a way to go yet, and I wouldn't be suprised if we're at 2004 figures pretty soon. 50% drop from peak suddenly doesn't seem so outrageous!

neas

*grins smugly *

moanymoany

House prices slumped by 2.6% in November, despite aggressive interest rate cuts at the start of the month that reduced the cost of borrowing, figures showed today.
The UK's largest lender, Halifax, said a combination of high house prices in relation to earnings, constraints on household incomes and the decline in mortgage availability had resulted in the largest monthly fall in prices in 16 years.
Halifax's monthly snapshot of the housing market shows the average house price has fallen by 16.2% since last November from £195,092 to £163,605.

The Guardian

Generali

Really2 wrote: »

So Halifax and Nationwide are now conflicting.

Although delayed the LR figures are going to be the most accurate. (due to the ammount of transactions for all lenders)
The transactions these two must be basing their reports on must be so low they could be thrown very easily.

Month on month figures are just noise really IMO - the impact of silly things like 4 or 5 weekends in the month or the weather can be huge. Year on year figures tell the story.

Haliwide and LR both have their own strengths and weaknesses.

wolfman

beecher wrote: »

wow, when you read it like that, it is quite astonishing. Over £100/day! And yet there are still people on these forums contemplating buying, or thinking they have equity in their houses recently with no deposits!

We've a way to go yet, and I wouldn't be suprised if we're at 2004 figures pretty soon. 50% drop from peak suddenly doesn't seem so outrageous!

Hmmm, there's nothing bad in contemplating buying at the moment. If you can get a decent mortgage rate, and find a bargain flat/house then why not. Especially as you'll be able to push the seller down on the price quite a bit.

Personally I'm still waiting a while though. I'm saving a nice amount each month, plus prices are dropping quite fast still (so that's saving me money too). Also the Bank look set to drop interest rates so borrowing will be cheaper in the coming months once the lenders respond to the drop.

I still don't think I'll buy for another year. Mainly because I doubt I'll be able to afford to at a decent rate until then.

skap7309

ginvzt wrote: »

You have to laugh:

Every month that goes by they bring up this comparison. HOWEVER every month the years get rolled back further and further. Keep 'em coming.

ad44downey

House prices continue to fall like a stone


TIMBER!!!!