Halifax: House prices down -2.3% MoM, 17.7% YoY, 19.68% from peak.

LittleMissAspie

chucky wrote: »

The house price to earnings ratio – a key affordability measure - is at its lowest for six years. The house price to average earnings ratio has declined from a peak of 5.84 in July 2007 to an estimated 4.42 in February 2009; a fall of 24%. The ratio is at its lowest level for six years (February 2003: 4.41). The long-term average is 4.0

Does that mean falls to £145,000 are guaranteed? That would be 28% from peak and could easily be reached within 7 months (assume 2k fall per month, which is what we've had so far).

But by then unemployment will be higher and the market always overshoots too. I'm thinking 35-40% from peak then.

chucky

LittleMissAspie wrote: »

Does that mean falls to £145,000 are guaranteed? That would be 28% from peak and could easily be reached within 7 months (assume 2k fall per month, which is what we've had so far).

But by then unemployment will be higher and the market always overshoots too. I'm thinking 35-40% from peak then.

quite possible and my general view across the UK.
places like Northern Ireland and Wales will be much higher which in turn will mean that other places will not have the price drops that people are expecting.

if you're looking to buy in Northern Ireland or Wales happy days
those outside of these areas that are expecting the 60% or 70% drops are going to be disappointed unless they're looking to buy an new build opposite a motorway

chucknorris

geoffky wrote: »

for me that is chicken feed...:rotfl::rotfl::rotfl::rotfl:

Well bully for you! Gosh what a bighead, do you realise saying a 675k investment is chicken feed is just about saying what everyone else does on this site is also chicken feed? (except the pratt who thanked you of course)

FoxtonsRIP

chucky wrote: »

quite possible and my general view across the UK.
places like Northern Ireland and Wales will be much higher which in turn will mean that other places will not have the price drops that people are expecting.

if you're looking to buy in Northern Ireland or Wales happy days
those outside of these areas that are expecting the 60% or 70% drops are going to be disappointed unless they're looking to buy an new build opposite a motorway

Poppycock. There's less than 5 million people living in NI and Wales against over 60 million in the UK as a whole.

beingjdc

poppy10 wrote: »

From http://forums.moneysavingexpert.com/showthread.html?t=1526521

I am generally a law abiding chap, but if the ASA and FSA refused to act on this misleading, self-interested, and unregulated financial advice, I would actually go back one night and smash the windows.

ad9898_3

beingjdc wrote: »

I am generally a law abiding chap, but if the ASA and FSA refused to act on this misleading, self-interested, and unregulated financial advice, I would actually go back one night and smash the windows.

Ohhhh, come on, don't kick and mock the afflicted.:D

stevetodd

poppy10 wrote: »

From http://forums.moneysavingexpert.com/showthread.html?t=1526521

Does anyone know if the notice was taken down (after February's figures were released)? Their email address is [EMAIL="sales@coulbyconduct.co.uk"]sales@coulbyconduct.co.uk[/EMAIL] Maybe we should have a competition to design their March poster and email it to them

ukcarper

Surely no one believes estate agents anyway

stephen163

stevetodd wrote: »

Does anyone know if the notice was taken down (after February's figures were released)? Their email address is [EMAIL="sales@coulbyconduct.co.uk"]sales@coulbyconduct.co.uk[/EMAIL] Maybe we should have a competition to design their March poster and email it to them

Is a claim like 'The bottom of the market has obviously been reached" in breach of advertising regulations?