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Debate House Prices
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Lenders axe house price forecast
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IveSeenTheLight wrote: »You could of course use the better Land Registry and Registers of Scotland Executive Agency figures.
Ok, they are a couple of months old, but still better to have actual figures than those from a couple of institutions based on approved mortgages
The LR figures are in line with 3 month old Haliwide numbers, pretty much. All three series have their strengths and weaknesses but that all three are giving the same reading (given the lag) implies that either they are all equally wrong or are all pretty much right. I reckon the latter to be true.
Your point about auction sales is a good one. If the CML is right and repossessions rise to 75,000 next year that is a lot of properties to move, especially given that the credit markets don't look like getting much better soon and in fact look like they could be getting much worse in the area of Government debt.0 -
Great to see you're still posting - the only person on here (I belive) who actually predicted a 'Credit Crunch' Trust all is well with you and yours down under. Keep up the input here - It's much appreciated.0
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mystic_trev wrote: »Great to see you're still posting - the only person on here (I belive) who actually predicted a 'Credit Crunch' Trust all is well with you and yours down under. Keep up the input here - It's much appreciated.
Thanks mystic_trev, very kind.
I did predict a credit crunch, in fact I thought it was a possibility since about 2005 when things really started getting out of hand in the housing market although I didn't think it would be this bad. That regulators didn't spot this coming too is pretty poor IMO but then what do I know? Clearly it's all the fault of greedy bankers.
The worst thing is that the next links in the chain look like they could be pretty nasty - more countries defaulting (perhaps including Italy/Spain/Germany/Japan/UK???) and most likely the breakup of the Euro. Government debt markets are starting to look iffy and if they stop, who bails them out?
Aus is pretty much closed for Christmas now so no more job hunting for a couple of weeks. We've got a very nice NYE planned. Brother in law has a 30-odd foot yacht on which we're going to take the Generalissimos to the Harbour to watch the fireworks.0 -
The LR figures are in line with 3 month old Haliwide numbers, pretty much. All three series have their strengths and weaknesses but that all three are giving the same reading (given the lag) implies that either they are all equally wrong or are all pretty much right. I reckon the latter to be true.
Halifax and Nationwide do not report the same data.
They have been about of £20k apart
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Halifax and Nationwide do not report the same data.
They have been about of £20k apart
True but the rate of change has been pretty consistant across the 3 indices. I think the difference in average price reflects the 2 companies' strengths in different parts of the UK.0 -
Aus is pretty much closed for Christmas now so no more job hunting for a couple of weeks. We've got a very nice NYE planned. Brother in law has a 30-odd foot yacht on which we're going to take the Generalissimos to the Harbour to watch the fireworks.
That sounds wonderful...you are so lucky to be able to go out there and have a chance...is Mrs Gen glad to be home ?.
A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
chrisandanne wrote: »That sounds wonderful...you are so lucky to be able to go out there and have a chance...is Mrs Gen glad to be home ?.
A x
She's very glad to be back home. I think it's only now we're here that she realises how much living in England made her sad.0 -
Living in England makes me sad too .....and I'm English !!.
night night.
A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
Does anyone have to hand what their predictions were for this year?
Would make amusing reading!
Here are what they were all saying last year and updating it through this year:
http://forums.moneysavingexpert.com/showpost.html?p=15344361&postcount=10...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
IveSeenTheLight wrote: »But according to LR, the market is only down 10.1% for the annual change
Is that nill sales in sept and oct?
I thought it'd be lower than that
Hi, we’ve had to remove your signature. The one where you showed us Dithering Dad is a complete liar. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE Forum Team0
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