Dramatic slowdown in the Housing market

mystic_trev

The latest NATIONWIDE figs show a slowdown in the Housing market. It's too early to draw any conclusions, but if the next couple of months are bad it could confirm that a correction / crash is on its way.

http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=407290&in_page_id=57&ct=5

claz

you always get frops at this time of the year, if you look at other threads on this board from the beginning of last year you will see that everyone was saying the same even the big "corperate companies"

i think if anything will affect the housing market it will be HIP in 2007 then wqe will see some real changes

Thefunkygibbons

It would appear to suggest a steady as she goes rather than a giant crash

Woby_Tide

Dramatic slowdown? Oh NOOOOOOOOOOOOO


*grips sides of thread to contend with devastating news*

0.7%? 0.7%? *re-reads article* 0.7%?

*hides behind sofa fearing he's missed the obvious*

*peers out once more*

0.7%? Dramatic? 0.7%?

I'm not surprised we have so many people fearing the house price crash if 0.7% is dramatic. We'll all be down at Beachy Head by the time house price growth is 0% at this rate

mr_fishbulb

claz wrote:

i think if anything will affect the housing market it will be HIP in 2007 then wqe will see some real changes

What's all that then? I'm probably buying a house in 2007.

zag2me

Loads of houses around my area have had for sale signs put up recently. Alot went unsold before christmas but they seem to be shifting like hot cakes recently.

meanmachine_2

Woby_Tide wrote:

Dramatic slowdown? Oh NOOOOOOOOOOOOO


*grips sides of thread to contend with devastating news*

0.7%? 0.7%? *re-reads article* 0.7%?

*hides behind sofa fearing he's missed the obvious*

*peers out once more*

0.7%? Dramatic? 0.7%?

I'm not surprised we have so many people fearing the house price crash if 0.7% is dramatic. We'll all be down at Beachy Head by the time house price growth is 0% at this rate

Groan. Your tack is as predictable as that of the property bears.

I think all we can deduce from this is that any index produced by a company with a motive behind its production is to be taken with a gallon of salt, and that holds true if it shows a convenient spring bounce or an equally convenient drop, just before the MPC meets.

What's equally predictable is that the lazy media will report each one as if it's actual news, rather than a bunch of misleading statistics, compiled according to some fuzzy and indecipherable computation.

All i know is that in the two areas I've kept an eye on one is indeed showing a "spring bounce" (what a pathetic term), and the other is going absolutely nowhere. I suspect this mixed picture is the same across the UK.

These indices are produced for the benefit of journos who don't have time/can't be bothered to leave their PCs and do a bit of research on the ground.

They're useless for anyone who is actually in the process of buying or selling.

[Deleted User]

selling like hot cakes here too. No crash forthcoming at all

Penny-Wise_4

Houses in our immediate area have been on the market for months (mostly first time buyer type properties). Next door to us has been trying to sell since September last year I think. So I think it is slowing down in some areas.

trickster

mr_fishbulb wrote:

What's all that then? I'm probably buying a house in 2007.

Basically from 2007, all sellers must prepare 'Home Information Packs'. This is to take the onus off buyers to get the leagl requirements/surveys done on a house they are buying and put it on the seller instead.

So you should be OK. But it will potentially put off people putting their house on the market purely for speculative purposes.

Do a google search for more info.

Woby_Tide

meanmachine wrote:

Groan. Your tack is as predictable as that of the property bears.

I think all we can deduce from this is that any index produced by a company with a motive behind its production is to be taken with a gallon of salt, and that holds true if it shows a convenient spring bounce or an equally convenient drop, just before the MPC meets.

What's equally predictable is that the lazy media will report each one as if it's actual news, rather than a bunch of misleading statistics, compiled according to some fuzzy and indecipherable computation.

All i know is that in the two areas I've kept an eye on one is indeed showing a "spring bounce" (what a pathetic term), and the other is going absolutely nowhere. I suspect this mixed picture is the same across the UK.

These indices are produced for the benefit of journos who don't have time/can't be bothered to leave their PCs and do a bit of research on the ground.

They're useless for anyone who is actually in the process of buying or selling.

So why do people keep posting the info when as you point out that everyone knows it's made up to fit a point of view. (And erm aren't you one of the property bears with a predictable tack?)