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Debate House Prices
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* Money * House prices House prices fall 12.5% year-on-year
geoffky
Posts: 6,835 Forumite
The price of the average UK house fell by 12.5% in the year to May, government figures showed today.
However, the pace of price falls has slowed, according to the monthly house price index published by the department of Communities and Local Government. In the quarter leading to May, prices edged down by 0.4%, compared with a drop of 4.8% in the quarter ending in February 2009.
Falls were steepest in Northern Ireland, where the price of a house has plummeted by 23.2% over the year. Average prices fell by 12.8% in England, 8.8% in Wales and 6.9% in Scotland.
According to today's figures, first-time buyers paid 14.8% less for a property in May 2009 than they had in the same month last year. Owner-occupier price falls were slightly less pronounced, with prices dropping an average 11.6%.
http://www.guardian.co.uk/money/2009/jul/14/house-prices-fall
However, the pace of price falls has slowed, according to the monthly house price index published by the department of Communities and Local Government. In the quarter leading to May, prices edged down by 0.4%, compared with a drop of 4.8% in the quarter ending in February 2009.
Falls were steepest in Northern Ireland, where the price of a house has plummeted by 23.2% over the year. Average prices fell by 12.8% in England, 8.8% in Wales and 6.9% in Scotland.
According to today's figures, first-time buyers paid 14.8% less for a property in May 2009 than they had in the same month last year. Owner-occupier price falls were slightly less pronounced, with prices dropping an average 11.6%.
http://www.guardian.co.uk/money/2009/jul/14/house-prices-fall
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.
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
Comments
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If that is true, it's great news."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Record fall in house prices
http://www.mirror.co.uk/advice/money/2009/07/15/record-fall-in-house-prices-115875-21520257/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 -
If that is true, it's great news.
It's old news.
12% in a year on that particular index, but only 0.4% in the last 3 months.
Falls have slowed almost to a stop. Worst well behind us. Nothing to see here, move along.
And some other news to cheer you up......:D
Nationwide average monthly house prices:
Feb-09 £147,746
Mar-09 £150,946
Apr-09 £151,861
May-09 £154,016
Jun-09 £156,442“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: »
And some other news to cheer you up......:D
Nationwide average monthly house prices:
Feb-09 £147,746
Mar-09 £150,946
Apr-09 £151,861
May-09 £154,016
Jun-09 £156,442
Great isn't it?
Watching the value of your money fall like that and having to pay more and more for exactly the same item.
A fine example of the theft which is inflation."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Great isn't it?
Watching the value of your money fall like that and having to pay more and more for exactly the same item.
A fine example of the theft which is inflation.
Silly bear.....:rotfl:
Asset inflation is not theft, it's a return on investment.“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: »
Asset inflation is not theft, it's a return on investment.
For you maybe.
But not the poor !!!!!! that's got to pay over the odds for your house.
Inflation is theft."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
hamish bought at the very top of the market and is in negative equity. he is a clever bloke you know!!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 -
For you maybe.
But not the poor !!!!!! that's got to pay over the odds for your house.
Inflation is theft.
It's not "over the odds". It's fair market value.
Houses are an asset class no different to gold, classic cars, equities, commodities, etc. Sure they have utility value, but so do many of the other classes I mentioned.
Profiting from houses is no different to profiting from Sugar, coffee, oil, gold, pork bellies, classic cars, or any other tradeable commodity.“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 -
Graham.
Where are you?"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
hamish bought at the very top of the market and is in negative equity. he is a clever bloke you know!!
LOL.
Perhaps you should check your facts. The absolute top of the market in Aberdeen was not til 2008. I bought my second house in 2007, but my first 20 odd years ago, which has appreciated close to 400% since then.
Aberdeen prices are still at 2007 levels. A mere 6.9% down from 2008's peak, and still rising. You should check McGlashans posts in the Aberdeen house price section on hpc for details. It's got a nice rant about Aberdonians and everything.
I am nowhere close to being in negative equity. Had you done some elementary research on the topic, you'd know that. As it is, you just look stupid.
But well done for that.:T
Keep up the good work.:rotfl:“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
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