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Debate House Prices
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Nationwide "Real" House Price Index rose 1.6% in June
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Using the nationwide index, we need a 4% drop from here til Jan 2010 to see 0% YoY. Doesn't seem too unrealistic, we have more summer to come yet.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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As soon as the kids break up thats the silly season over and next spring will be the next time there will be buyers out in force...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Using the nationwide index, we need a 4% drop from here til Jan 2010 to see 0% YoY. Doesn't seem too unrealistic, we have more summer to come yet.
Yep it'll be close it seems.
We only have six months of data to go and some big minus numbers from the end of 08 are going to drop out, culminating with the -2.6% in December.
FWIW my crystal ball reckons prices will end up somewhere between 0% and -5% down on the year.0 -
JonnyBravo wrote: »Yep it'll be close it seems.
We only have six months of data to go and some big minus numbers from the end of 08 are going to drop out, culminating with the -2.6% in December.
FWIW my crystal ball reckons prices will end up somewhere between 0% and -5% down on the year.
That seems about right.
The worst of the falls are behind us now.
The more optimistic pundits are now predicting a gain for the year, but whilst I reckon we'll see some monthly YoY positive results within the next 6-9 months, I doubt we'll be up for good by the end of the year.
Q1 next year should be the trough.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
On another note what will likely be positive by the end of the year will be the YoY inflation figures when $147 oil and those large IR cuts fall out of the equation, and that's to say nothing of the 2.5% VAT to go back on at the end of the year.
Have you stocked up on those oil shares yet? I bought some more Shell yesterday after HSBC downgraded to a hold, they have also made a big Gas discovery in Norway waters (with Statoil)
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPQH8ybXTHH4
http://boards.fool.co.uk/Message.asp?mid=11589366&sort=whole#11589741'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 -
Wow! So with the govt, VI, Media, etc doing EVERYTHING they can to keep house prices propped up, and bearing in mind this is the peak time for buying, an (unseasonally adjusted!) 1.6% is the very best they can do? If Labour win the next election, what do they plan to do then? Pull a rabbit out of their hat?0
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spinning_hamster_wheel wrote: »Wow! So with the govt, VI, Media, etc doing EVERYTHING they can to keep house prices propped up, and bearing in mind this is the peak time for buying, an (unseasonally adjusted!) 1.6% is the very best they can do? If Labour win the next election, what do they plan to do then? Pull a rabbit out of their hat?
:rolleyes:
Thats a 1.6% month on month increase. Which is equivalent to an annualised rate of 19.2%..... In the middle of a recession. !!!!!! did you expect from a single month increase????
Prices are now up for 5 months in a row.
Seems pretty good work to me.:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Prices are now up for 5 months in a row.
Seems pretty good work to me.:D
I know some of the figures maybe saying this, but I would really like to know of some areas or perhaps some Righmove links to these areas to show this is happening, in the areas I'm looking at prices are falling, I can't find any actual prices that have gone up in the last 12 months that have sold.0 -
Golly gosh if they can increase by so much now, imagine how high they are going to go once the recession is over (which should be by next friday if the media is anything to go by!). Better buy now methinks before we all miss the boat!:rolleyes:0
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