Halifax +2.6 % MoM

baileysbattlebus

nearlynew wrote: »

I didn't mention mortgage rates.

Correct you didn't - the the base rates weren't that far away from that either during the same period.

baileysbattlebus

StevieJ wrote: »

It actually went to 17% but we crashed out of the ERM before it could effect anyone.

That would have been the day my boss nearly threw himself out of the office window.

Actually that reminds me - he was the first person I ever knew personally to have a BTL. He bought with a friend - on the cusp of the last crash.
He and the friend lived in Reading - house was in Birmingham.

It ended up being a nightmare - between the voids - interest rates and having to constantly travel up there to fixing leaking washing machines etc.

He bought it to make money and ended up selling it at a loss.

Kenny4315

Rollerball wrote: »

It's only clear to you and a few estate agents. Things will look rather different when the spring is over.

My long time predictions was for a correction of around 30% from peak, at the height of the chaos I believed it would be somewhere between 30% and 35% down, but currently we are 17% down, with some months up substantially, it is apparent that however over-priced houses appear to be they just are not collasping, I'd say we are now looking at some minor corrections, as time wears away the intial over-pricing anyway, it looks to me now as if we probably not going down as far as 30% we may get to 25% but the signs are clear that we are not in a collasping market.

The overal position is much stronger than say 6 months ago, and positive economic figures seem to be close at hand. We are certainly out of the market meltdown area that is for sure, and interest rates are going to remain low for some considerable time.

People ar just going to have to face facts that houses are going to be more expensive in relation to income, due to supply and demand, and the simple fact the UK is over-populated and is set the become even more so.

the_ash_and_the_oak

StevieJ wrote: »

Base rate was 14.875% for a whole year, Oct 89 -Oct 90.

http://www.bankofengland.co.uk/statistics/rates/baserate.pdf

agree w this but as rates were north of 10% for most of the preceding decade not really feeling a jump to 15% could have been that much of a cause

tbh something similar to a jump from 4 to 6% imo

mewbie_2

Kenny4315 wrote: »

People ar just going to have to face facts that houses are going to be more expensive in relation to income, due to supply and demand, and the simple fact the UK is over-populated and is set the become even more so.

You argument is unfortunately destroyed by the people who thanked it.