UK house prices fall 10.1 pct yy in April-Hometrack

the_ash_and_the_oak

whathavewedone wrote: »

Well in this case Ad it seems they are being honest as all the flats he likes are going as soon as they go on the market for the asking price. I can't speak for anywhere else but first time buyers are falling over themselves to buy in Hackney right now.

rightmove has 155 1 bed flats with 1/4 mile radius of E8. 22 of them are under offer

JayScottGreenspan

whathavewedone wrote: »

Well in this case Ad it seems they are being honest as all the flats he likes are going as soon as they go on the market for the asking price. I can't speak for anywhere else but first time buyers are falling over themselves to buy in Hackney right now.

Must be because it is such a nice area.

IveSeenTheLight

inspector_monkfish wrote: »

00:01 27Apr09 -UK house prices fall 10.1 pct yy in April-Hometrack

LONDON, April 27 - House prices in England and Wales fell by 10.1 percent in April compared with a year ago, while prices declined at their slowest monthly pace for a year, property data company Hometrack said on Monday.

Hmmmm, wheres the YoY graphs that were always shown
Ok ok, 10% YoY drop is still a drop I grant you, but the YoY graph was like god to some before

ad44downey

sdooley wrote: »

reasons.

It's not all about the money - a lot of people buy houses mostly to live in. .

A novel concept. Not so long ago people just bought houses so they could sell them on in a few years for a big profit.

chucky

or you could read it as "House prices fall at lowest rate for a year"

0.3% is the lowest monthly rate for a year.
sales volume also improved by 15% in April, up 70% over the last three months

prices were also down in 30% of post codes as opposed to 50% in March.

people read and take in only what they want to read - shame that they don't understand the detail

ad44downey

chucky wrote: »

or you could read it as "House prices fall at lowest rate for a year"

A fall is a fall. No amount of spinning can change that fact.

ess0two

ad44downey wrote: »

A novel concept. Not so long ago people just bought houses so they could sell them on in a few years for a big profit.

Sounds like sour grapes on your behalf,there aint no other way to move up unless a profit is made.

whathavewedone

I find that Rightmove is REALLY slow to update it's records. During the boom years you could guarantee that just about everything advertised had gone when you phoned up.

I found it pretty useless except that you phone up whatever estate agent about a property you like that you saw on Rightmove and they say oh well that's gone but you can register and we can phone you when something else comes in/if you were lucky something might have just come in which met your criteria which you could view.

Have you actually phoned and got confirmation that only 22 properties are under offer? If you're just going by what's on their website it means nothing.

whathavewedone

Hackney on the whole isn't a great area but Victoria Park has been sought after for a long time. For singletons who work in London there are far worse places to live.

ruggedtoast

I personally know at least two young ftb couples who have just offered and bought. They still have jobs, have been saving, and have had the fear of god put into them by their parents that house prices are about to rocket again and this is their only chance to buy.

Its no secret that there are a decent number of people out there with deposits, jobs and a yearning to buy their own place.

Its extremely unlikely that this is going to defy the overall downward trajectory of almost every other part of the economy however.

Anyone who's found the rug pulled out from under their dreams of owning a flat in Hackney should thank the universe for doing them a favour and go back to saving teir deposit.