Halifax -1.7% MoM, 17.7% YoY, 22.6% down from peak.

telfordwhite

dazeruk wrote: »

Sorry if this question has been asked and answered before.

The latest Halifax figures are quoted as being for April. This is the price as sold. Is any account taken as to when that price was agreed?

I'm new to all this property buying, so unsure if the price of a property can come down during the sale process or how long that process takes. Is this a lagging indicator showing prices agreed maybe last year?

As someone explained to me, the figures are concerning mortgage advances from Halifax in April. The properties are not necessarily sold to completion yet.

Also this probably doesn't take into account deposits put down so may not have a direct correlation to house prices especially if deposits are now larger.

Edited to say, actually that is a good point. If deposits were for instance 1.7% larger then the price drop is negated....is this right... anyone?

mitchaa

WhiteThierry wrote: »

surely you'd like house prices to decrease then? you've more chance of paying house #2 off in 15 years if it costs less, or am i missing something. (I'd guess judging by your previous posts that i am).

I have another 14yrs until im 40, so couldn't care less what they did in between to be honest.

House number 1 will be paid off in 15yrs as will house number 2 between 40-55 (As i will have no rent or mortgage to pay) and if things turn out ok, house number 3 at the age of 55-68

On retirement, i still plan to live in house number 1, with house 2+3 as rental income or sell to provide a nest egg along with FSP.

That is the plan anyway and if i keep working there is no reason to suggest that i cannot achieve this. Yes i already have children to the chap that asked.

Im under no illusion that housing will ever be cheap as it never has been in the past and never will be in the future. I will happily pay out 1/3 of my salary for the rest of my working days to achieve this.

The point isn't about me though, i was just merely pointing out that our attitude to housing and our greed culture is in my opinion very unlikely to change.

Graham_Devon

mitchaa wrote: »

The point isn't about me though, i was just merely pointing out that our attitude to housing and our greed culture is in my opinion very unlikely to change.

And you somehow think that taking 3 houses is not greed?

WhiteThierry

mitchaa wrote: »

I have another 14yrs until im 40, so couldn't care less what they did in between to be honest.

House number 1 will be paid off in 15yrs as will house number 2 between 40-55 (As i will have no rent or mortgage to pay) and if things turn out ok, house number 3 at the age of 55-68

On retirement, i still plan to live in house number 1, with house 2+3 as rental income or sell to provide a nest egg along with FSP.

That is the plan anyway and if i keep working there is no reason to suggest that i cannot achieve this. Yes i already have children to the chap that asked.

Im under no illusion that housing will ever be cheap as it never has been in the past and never will be in the future. I will happily pay out 1/3 of my salary for the rest of my working days to achieve this.

The point isn't about me though, i was just merely pointing out that our attitude to housing and our greed culture is in my opinion very unlikely to change.

i totally agree that attitude to housing and greed has gone nowhere, if anything the past year has only solidified this attitude. I'll confess that im greedy and want to pay as little as possible for my house, which i'll probably buy next year, ive got the same kind of long term goal as you, its just the 1st step hasn't been taken yet, hopefully pay off my house before i retire from the forces in 17 years, spend a few years abroad working tax free, buy a second home more or less outright,
might not happen, but its good to have long term goals.

EliteHeat

I have to say that for those employees who profess to having 30+ year plans to acquire multiple properties, that these plans might be a little more realistic if they spent far more time working at the job that their employers pay them for and far, far less time arguing the odds on internet forums. The consequences of ignoring this advice may be finding yourself out on your ear with your dreams in tatters,

Obviously this does not apply to the self employed, unemployed and those who are fortunate enough to have private incomes

StevieJ

the_ash_and_the_oak wrote: »

you are right that normal everyday reasons means that people will need to sell...even if they try waiting for higher prices for a while - eventually people will move...next year, the year after etc etc - it is only then that the current falls (which are being dampened by not actually coming through in transactions) will manifest themselves properly - because it is only then they will be marked to market in any number - at precisely the time that FTBs will be finding it hard to raise finance w possibly much higher interest rates

o

Why do the grizzleys think that there are everyday reasons to sell but not everyday reasons to buy

WhiteThierry

EliteHeat wrote: »

I have to say that for those employees who profess to having 30+ year plans to acquire multiple properties, that these plans might be a little more realistic if they spent far more time working at the job that their employers pay them for and far, far less time arguing the odds on internet forums. The consequences of ignoring this advice may be finding yourself out on your ear with your dreams in tatters,

Obviously this does not apply to the self employed, unemployed and those who are fortunate enough to have private incomes

im not risking the sack at the mo, thanks for the advice

carolt

What a nice bunch of stats.

One that seemd to be missing - maybe I just missed it in this long thread? - is the precise percentage fall from peak. If it is there, could someone just run it by us all again, please.

There are lots of rehashes of the annualised percentage fall, but they are of less interest to me; I find knowing how much I've saved by not buying at peak (which I very nearly did), terribly reassuring.

Also - could we have the nice graph thread updated, pretty please?

Cannon_Fodder

StevieJ wrote: »

Why do the grizzleys think that there are everyday reasons to sell but not everyday reasons to buy

Well, there are around 40% to 60% of "normal" transactions happening (depending on whose figures you use) so you are right. There are two sides to each deal.

The problem, for the seller, is that they only have the 1 propety to sell. If it is overpriced, poorly presented, poorly marketed, whatever, then IT is not guaranteed to sell, however much the seller wants it to.

Someone with "everyday reasons to buy", who HAS to buy, still gets to decide WHAT they buy and at WHAT PRICE.

...Or defers purchase, renting for a while, if something specific is required - like a big enough deposit, right property, decent mortgage deal, clearing of poor credit history that was not an issue at previous re-mortgage etc...

Cannon_Fodder

carolt wrote: »

Also - could we have the nice graph thread updated, pretty please?

http://forums.moneysavingexpert.com/showthread.html?t=956257&page=12 post 225

http://forums.moneysavingexpert.com/showpost.html?p=21311221&postcount=225