House prices fall 1.8% in feb

pandamonia

Confused, Really2, and Chucky are eating their words haha.

i knew i was right about not buying.

Smitty

ad9898 wrote: »

Might I suggest that the Halifax is owned by the government now, and seeing as we know how much they fiddle the figures, it's not improbable that they did it here, to try and engineer a recovery. I wouldn't put it past them, oh how I bet they wish they had a stake in Nationwide too.:rolleyes:

I have been thinking the exact same thing! And you're right... I don't think we can rule it out

lukekelly_2

Informative graphs:





The second graph is a month behind, the trend line and actual line have now almost touched.

There is no guarantee that prices will reach the same depths as before. They could end higher and they could end lower. I don't doubt though that there is some way to go.

There is long-term real growth in expenditure on accommodation: draw a trend line on the top graph and it's ever-so-slightly heading upwards. This is an expected consequence of (slowly) increasing real spending power over the last 50 years. This would suggest that the long-term trend is for minimum price-to-earnings ratios to slowly increase. I can't though see any strong arguments for house prices fall stopping before we reach the 3x mark on the top graph though. We've got a way to go yet.

Wookster

Good graphs LukeKelly - I hadn't seen the top one yet. Looks like there is a very different prognosis for London than the rest of the UK - Both graphs indicate that the rest of the UK would appear not to have an awful lot farther to fall to reach long term averages (possibly 10-15%) but that London still has a long way to go - being overpriced by as much as 40% relative to the long term average of 3.5X earnings.

The trough is always going to be significantly lower than the the long term average though.

There is indeed a long way to go yet.

chucky

pandamonia wrote: »

Confused, Really2, and Chucky are eating their words haha.

i knew i was right about not buying.

wow - you really do have a problem reading the most simple posts....
you and wookster can't stop making things up that are never said can you... tut tut...

i have never it's good to buy. it's good to buy if circumstances suit your requirements

have a look at Post 34 on this very thread
http://forums.moneysavingexpert.com/showpost.html?p=19186219&postcount=34
and while you're there learn to read and understand what is written instead of making things up. again...

geoffky

I am now at the wonderful figure of saving 80 thousand pounds because i did not buy when i was going to having done some research....maybe i will get to 100k and then the two year wait would of been worth a lot more if i include interest payment but i have not included them because its a cash buy.
It would of been more painful if i had paid cash and seen me lose the 80k hard cash that could of been sat in my account not in someone elses pocket not having been earned...

Dan:_4

fatpig wrote: »

Crashing house prices are good for everyone except really greedy people.

Its not good for people who have gone into Negative Equity

JayScottGreenspan

Dan: wrote: »

Here I am Ultra

Just a very quick log-on (a day full of meetings) to say this is great news for all you FTBers out there.

Buyer Enquires are up; Mortgage Approvals are up; Interest Rates are at their lowest; and house prices are, on average, 20% lower then 18 months ago.

Surley, it must shortly be the time to buy???

Careful mate, you wouldn't want to get too excited too quickly and end up being premature.:p

ally81

fatpig wrote: »

It's great, isn't it? Crashing house prices are good for everyone except really greedy people.

I began looking at back-to-backs with yards and am now looking at 3 bed semis with 2 gardens and a garage! If it carries on like this I'm going to end up living in a stately home in the shires! I really feel for everyone who is suffering but yes, it is great.

mr.broderick

ally81 wrote: »

I began looking at back-to-backs with yards and am now looking at 3 bed semis with 2 gardens and a garage! If it carries on like this I'm going to end up living in a stately home in the shires! I really feel for everyone who is suffering but yes, it is great.

More sock puppets :beer: