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Debate House Prices
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Halifax -1.7% MoM, 17.7% YoY, 22.6% down from peak.
Comments
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A 1.7% crash in a single month, that's massive.
House prices, there's only one word for it.............. It's coming now............... .............................wait for it.....
TIMBER!!!!!!!!!Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0 -
No one has done this yet so I thought I might...
TIMBER!!!
That is on the banned words list
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I'm not seeing the link between house prices and cutting down trees either. Guess you need to be "special" for that one.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I would say its quite possible, actually.inspector_monkfish wrote: »:eek: OMG !
you don't think the media could have been misleading us do you ?????
no way, surely not !!! :eek:
Whether it is deliberate or not is another question. I learnt many years ago not to simply believe as fact everything the media tell us.0 -
Look at the Nationwide index, so far house prices have dropped 0.78% this year.
Typical rent on an average house i suspect would be in the region of £750pm, so according to the Nationwide you could have spent £3000 in rental so far this year but only lost £1200 off the price of an average home.
Extrapolate that further over the year meaning £9k spent in rental and £3600 lost in house value. No, im not suggesting that we will only see £3600 falls this year, im just saying what's true so far in respects to the Nationwide index and hypotetically extrapolating it for the remainder 8mths of the year
Yes we will see further falls, probably ITRO of 5-10% in my opinion.
You haven't factored in interest payments on the mortgage for the average house. On 150k loan at 3.5% that would be about 1750 (simple interest) so you're only 50 up.Stercus accidit0 -
Gorgeous_George wrote: »It'll be a blip.
GG
A 'blip' is where something happens that temporarily reverses a current trend.
This result actually strongly reinforces the current downward trend.0 -
How do you make -2.6% out of £151,861 and £153,048, when i was taught maths at school you divide the smaller number by the bigger number and multiply by 100%
School level maths will allow you to understand basic division and multiplication. What you need to do is go to University and learn advanced statistics, then you'll get an idea why the seasonally adjusted figures are a better indicator of house price movements.0 -
stephen163 wrote: »School level maths will allow you to understand basic division and multiplication. What you need to do is go to University and learn advanced statistics, then you'll get an idea why the seasonally adjusted figures are a better indicator of house price movements.
They are seasonally adjusted though;)0 -
Look at the Nationwide index, so far house prices have dropped 0.78% this year.
Typical rent on an average house i suspect would be in the region of £750pm, so according to the Nationwide you could have spent £3000 in rental so far this year but only lost £1200 off the price of an average home.
Or, rather than using the best case scenario Nationwide figures, let's use the previous 12 months of Halifax. Average house lost £33k in 12 months, rent is £750*12 = £9k. Plus you need to factor in mortgage payments and all the other costs assocciated with home ownership. Suddenly, the picture's not so rosy...0
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