Nationwide - up 0.9% MoM

ad44downey

Sir_Humphrey wrote: »

London
The rate of annual house price falls in London accelerated in Q1 2009. Prices fell by 18.2% up from 15.1% in Q4 2008. However, the seasonally adjusted quarterly rate of decline remained almost unchanged at 5.3%. London continues to see some of the largest house price falls across the whole of the UK on both an annual and quarterly basis.

http://www.nationwide.co.uk/hpi/historical/Q1_2009.pdf

There's only one appropriate word to describe house prices:

TIMBER!!!!!!!!!!

Really2

ad44downey wrote: »

There's only one appropriate word to describe house prices:

TIMBER!!!!!!!!!!

What, that they are wood?

ad44downey

Dan: wrote: »

But many thousands/millions people can buy now. Remember, not everyone can buy a house

Too true. And the ones that can't afford a house can always get a caravan instead. Like Dan had to do.

ruggedtoast

Dithering_Dad wrote: »

Would most people be looking to buy a house and then sell in 2 years? It hardly seems worth the stress and hassle.

I wouldn't want to, but these days with the schooling system randomly scattering your kids about the country, and job security now being measured against the half life of beryllium, you need to be able to up sticks if needed.

Really2

ruggedtoast wrote: »

I wouldn't want to, but these days with the schooling system randomly scattering your kids about the country, and job security now being measured against the half life of beryllium, you need to be able to up sticks if needed.

I disagree you move towards an area with good employment prospects and near a good school.

You would never buy otherwise you may as well rent if you think you would have to move every 2 years

SingleSue

mizzbiz wrote: »

Quote from Halifax January Report

It is always important not to place too much weight on any one month's figures. Historically, house prices have not moved in the same direction month after month even during a pronounced downturn. For example, prices fell for seven successive months in 1989 but subsequently increased in three of the first ten months in 1990 even though the overall trend in prices was downwards.

Nice link too, if anyone is interested. Shows the Nominal and Real house Prices going back to early 70's. It just shows that every time the peak gets bigger, so too does the trough that comes afterwards. If the economy really is cyclic and infinite, we are in for a big fall. But bulls, don't worry, after every trough there's a peak, after every peak there's a trough ;-) And just to pump you up further, each time it gets bigger. I suppoe we'll all be more aware for next time.

http://www.mortgageguideuk.co.uk/housing/uk-house-price-index.html

I think I said as much in Jan but it was the 3 months of upwards prices in early 1990 which convinced us the worst was over and we purchased.

By 1994 our house value had dropped considerably.

Hence my caution advice all the time....but if this was the start of the upturn (stabilising or whatever), it would be good news.

Not sure where I stand in the bull/bear thing, I was a bear...not I am just plain confuzzled and ever so slightly concerned at the way things have gone.

StevieJ

lostinrates wrote: »

I agree with it, so responded here, not in a PM

(I'm trying to be good and support good moderation )

LIR, did you remember the apple

ruggedtoast

Really2 wrote: »

I disagree you move towards an area with good employment prospects and near a good school.

You would never buy otherwise you may as well rent if you think you would have to move every 2 years

I work in London. Theres nowhere in the UK with better employment prospects and nowhere I am less likely to want to buy in. Theres no way my kids are going to what passes for one of the schools in this cess pit either.

Dan:_4

ad44downey wrote: »

Too true. And the ones that can't afford a house can always get a caravan instead. Like Dan had to do.

One day you will sell enough Big Issues on the streets to get a small deposit together, I have faith.

lostinrates

Really2 wrote: »

I disagree you move towards an area with good employment prospects and near a good school.

You would never buy otherwise you may as well rent if you think you would have to move every 2 years

Exactly: one of the reasons why getting on ladder in the last few years would have been a bad move for us: we HAVE moved a lot! A sizable minority have to. Thats part of why that house prices and equivalent risk savings/investments should stay connected for a lot of young professionals