Latest House Prices Statistical Release

pizzagirl

Cat695 wrote: »

Mitchaa why do you do this to yourself??

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He's in serious denial. It's the only possible explanation. He's the only person in the UK whose house hasn't decreased in value, if you believe him... hmmm

mitchaa

pizzagirl wrote: »

He's in serious denial. It's the only possible explanation. He's the only person in the UK whose house hasn't decreased in value, if you believe him... hmmm

Who are you

As above in my post, i clearly just made everything up. I mean where did all the linked black and white evidence come from:rolleyes:

I back EVERYTHING up with evidence, come back when you have some.

Where did i once state that my house was rising in value, go on please, show me!

http://www.ros.gov.uk/pdfs/2009_02_tables.pdf

In 2008, the country averaged a fall of around 16%, in the above table, you will note that Aberdeenshire fell by 2.2% (I keep saying this, but to make an average work you will get some hard hit areas and some not so hard hit areas, it's not rocket science)

Just look at Scotland as a whole, down a whopping 3% in 2008

mewbie_2

mitchaa why not just stop arguing, shut up about your house and what it may or may not be worth ... and talk about helicopters. Now they can go up as well as down, down, down.

mitchaa

mewbie wrote: »

mitchaa why not just stop arguing, shut up about your house and what it may or may not be worth ... and talk about helicopters. Now they can go up as well as down, down, down.

Cheers, i will do now. Thanks:D

I know it gets boring and repetitive, but im being 'attacked' here from all angles for speaking the truth (Factual evidence)

Hey you cant fault me for standing my ground.

Anyway, off to bed now, round 2 in the morning i suspect:rotfl:

Graham_Devon

mitchaa wrote: »

Wishful thinking Graham.

According to halifax, house prices have increased so far in 2009:p

Mitch.....this is where you said it

ukcarper

He doesn’t say his house hasn’t fallen in price and if you look at the land registry map you will see that there area couple of places where property prices have only fallen 6% over the year

Cat695

ukcarper wrote: »

He doesn’t say his house hasn’t fallen in price and if you look at the land registry map you will see that there area couple of places where property prices have only fallen 6% over the year

Because Scotland is behind England.....just like England is behind the US in all this.

Its called catch up and seeing as London/England has a slightly larger stake in the world financal market than Scotland, it will take its time to catch up. Same as its taken its time to hit other parts of the world.

It also could be that most of Scottish house prices are no where near as expensive as some parts of England.

Everytime each one of these "experts" come out with another drop....it quite clearly states the AVERAGE across the housing market.

Fight_Club

mitchaa wrote: »

The argument here is when will they stop falling, i believe some point this year like many major lenders, (see other thread) so why am i delusional if im agreeing with the 'experts';)

The housing market is in tatters at historically low interest rates. This "slowing down" is a bull trap. Let's say for instance that house prices improves to 0% for a few months (obviously not annual), which is quite reasonable. What do you think will happen when interest rates rise to 5% or perhaps even higher? Reckon it will still be at 0%?. Nope they will start falling again, and if the recession isn't more or less sorted it will be worse.

Plus the entire ethos of houses being a great investment for capital gains has gone, wiped out. Only those looking for yield will be left, which when we face facts was probably far less than half. and rents are already falling.

Nearly forgot. If the FSA gets the government to introduced a mortgage/salary cap then the market willg et another butchering. Or at least prices.

Disclaimer: obviously nobody knows for sure, UK PLC could find a a squillion tonnes of oil and gold in it's backyard tomorow and become rich overnight.

ukcarper

House prices must have a natural bottom and the vast majority of people buy houses for homes and prefer to buy instead of rent. Even if house prices only increase in line with normal inflation it is still better to rent than buy because if you don’t move or re-mortgage in 10 years time your mortgage repayments will be a lot lower than your rent. Also very few people are benefiting from the low mortgage rate and if the rates go back up to 5% it doesn’t mean and most probably won’t mean that actual mortgage rates will go up by 5%.

None of this means that I don’t think prices will drop further just that house prices are influenced by more than people trying to get capital growth

House prices nearly double in the early 70s and the banks were very strict about only lending 3+1x earnings.

whathavewedone

I don't think there are that many people with mortgages on trackers.

We had to remortgage or go on the SVR in October 08 and we had no idea that interest rates were going to plummet - at the time (bearing in mind that we aren't economists and didn't go on MSE or HPC etc then) it seemed like interest rates would go up as the price of petrol and food were going up. So we got a fixed rate mortgage at 5.6%.

I don't think that many people will be wiped out if interest rates go up to 5%. If and when they go above 7% a lot of people will be sunk but I can't see that happening this year personally.