House prices +0.9% in June 2009

Thrugelmir

chucky wrote: »

do you think that could have anything to do with the few months lag in data that the LR figures have?

if we go by your logic we will have LR positive for a good few months going forward and the figures will will be in summer - you can't call it a spring bounce then

Both the Halifax and Nationwide figures only cover property they handle. Neither lender has a 100% coverage of the UK.

So the figures can only ever be a guide. They can't be applied to every part of the country.

Interestingly we seem to have a level of around 18% down since the 2007 peak and been pretty static. With local house prices lower than the national average I wouldn't expect significant further falls even in the longer term.

How much longer can London & the South East prop up the national average?

skap7309

mitchaa wrote: »

Seriously guys (bears) you should have listened to my wisdom 6mths ago now, house prices up £8700 in 4 months, its not even stagnation:D

(Once i had deleted all your nervous laughing symbols...;))

I echo ad's post - going by LR (a better indicator in my eyes) in 6 months Cambridgeshire house prices have dropped a whopping £12000 so kinda clashes with your claim of a £8700 gain. - Its your local area that is important innit

To add to that £15k added to deposit fund..........now, where are those laughing symbols???

System

skap7309 wrote: »

(A) Good luck with that.

For that to happen we need 4% falls from todays prices (assuming January to January based on Nationwide index).

Doesn't seem a particularly outlandish prediction? We have a lot of summer to get through yet.

For the record, I don't know Dan:, he's disappeared anyway.

chucky

Thrugelmir wrote: »

Both the Halifax and Nationwide figures only cover property they handle. Neither lender has a 100% coverage of the UK.

yes - they cover just under 30% of the mortgage market.

Thrugelmir wrote: »

So the figures can only ever be a guide. They can't be applied to every part of the country.

which tells people even more to look at their local area instead of taking notice of a national average.

Thrugelmir wrote: »

Interestingly we seem to have a level of around 18% down since the 2007 peak and been pretty static. With local house prices lower than the national average I wouldn't expect significant further falls even in the longer term.

i agree - could that £150k ish average house price be the support level of the market and they won't be going lower than this?

StevieJ

skap7309 wrote: »

(Once i had deleted all your nervous laughing symbols...;))

I echo ad's post - going by LR (a better indicator in my eyes) in 6 months Cambridgeshire house prices have dropped a whopping £12000 so kinda clashes with your claim of a £8700 gain. - Its your local area that is important innit

To add to that £15k added to deposit fund..........now, where are those laughing symbols???

I guess as he lives in Scotland he is not really bothered what is happening in Cambridge. I agree about L.R. but I prefer FT myself, ( UK down 15% from peak).

ess0two

skap7309 wrote: »

(A) Good luck with that.
(B) OK mate. If you say so. Personally if it comes to this i will be pumping my £65k deposit into a nice, cheap, post crash home. No doubt rates will still be 0.5% so add a nice, long, cheap fixed rate loan onto that as it sure as hell wont keep prices high if rates go up. Win win either way? Me thinks so.

Option B - nice,long but would'nt say cheap at the mo.

StevieJ

ad9898 wrote: »

I don't think chucky has any sockies, I don't see his posting style in anyone else, although I think him and Dan are good mates of some kind. Skeppi's posting style is nothing like chucky's, I could say more, but I'll leave it there, I think I've already made my point on the subject.

Hey the Big Yin has spoken

Thrugelmir

chucky wrote: »

i agree - could that £150k ish average house price be the support level of the market and they won't be going lower than this?

Trouble is it's an average. Which most of the country can't benchmark against. As prices are either far higher or lower than this.

Maybe when job losses feed through and unemployment rises. Then the picture will change.

So far the biggest job losses have hit the more traditional manufacturing areas. Until the effects feed through on a broader scale will other areas also take a real hit.

IveSeenTheLight

Thrugelmir wrote: »

How much longer can London & the South East prop up the national average?

I would think they always prop up the national average.

geoffky

I really hope this fools people into selling and then when we enter winter we will have some decent numbers up for sale ...ps i see Aberdeen had the biggest falls in Scotland..