MSE news: Are house prices falling again?

SingleSue

I think someone made the point that basing a house purchase on what the different reports say (I.E national price rises/reductions) is not really suitable, your local area and what that is doing is far more important.

Pretty stagnant here from what I can see on RM although more recent listings which are priced aggressively are doing ok..the old favourites on my list are still there despite on average 25% reductions in asking price.

So to sum up, the reports can be an indication but your local area prices are more important...not every area will have price rises or price reductions.

ruggedtoast

chucky wrote: »

you desperate boy - they were negative in June too



50% drops by Christmas 2009 :rotfl:
that's over 3% per month :rotfl:
desperate much?



yep - those sitting on Hope Mountain waiting for prices to drop are now seeing the Rightmove index as the 2nd coming of the 4th son of Mr Broderick...

Blessed be his name.

Verily we have been waiting long and shall nurture the Baby Broderick in a shack made of For Sale signs and regale him with sentiment.

Then when He comes of age He shall show us the truth of Seasonally Adjusted Figures. And we shall see that they are good.

bainesaloe

basically there is a temporary rise because sellers are not accepting low offers believing that the good times will return. With interest rates low they can rent and use the rental income to pay off the mortgage. When interest rates go up (which they will because the government has been printing money like toilet paper), the home owners who are renting will not be able to cover mortgage repayments, will be forced to sell and voila ... down down down go prices.

michaels

On a different tack I think it is great that Martin/the team has noticed that there is a balance of views on this board on where prices are going next and have run a piece warning that falls may be still on the cards - a breath of fresh air compared to the mainstream press for whom doom, gloom and recession were last years story and recovery is this years story and why let the facts get in the way of the story.

MSE_Guy wrote: »

This is the discussion thread for the following MSE News Story:

"Sellers have dropped typical asking prices over the past month, according to property listing website Rightmove.

It says the average price being demanded is down by £5,100 (a 2.2% fall). A month ago, it reported a 0.6% rise ..."

Read the full story:
Are house prices falling again?

This thread discussion had started before the news story was published. We’ve inserted this post so all the discussions are in one place. Thanks to shakerbaby for the original post.