Debate House Prices


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MSE News: House prices fall for first time in four months (-0.1%)

Former_MSE_Natasha
Former_MSE_Natasha Posts: 672 Forumite
edited 28 September 2009 at 11:53AM in Debate House Prices & the Economy
This is the discussion thread for the following MSE News Story:

"House prices dipped by 0.1% during August, the first monthly fall for four months, figures showed today ..."

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PS. This thread discussion had already started before the news story was published. We’ve inserted this post so all discussions are in one place. Thanks to blunt_crayon for the original post.
«134567

Comments

  • blunt_crayon
    blunt_crayon Posts: 168 Forumite
    edited 28 September 2009 at 11:10AM
    "The data for August shows a fairly flat market with a monthly house price change of -0.1 per cent. The average property in England and Wales is now worth £155,968.
    The annual rate of decline is continuing to slow with anannual movement of -9.4 per cent. This is up from a low of approximately -16 per cent experienced in February this year.
    Property transactions averaged 41,911 sales per month in the months March to June 2009. In the same period a year earlier, the average was higher, at 60,997 sales per month."

    http://www1.landregistry.gov.uk/assets/library/documents/HPIdaveAug09.pdf
    plus ça change........
  • abaxas
    abaxas Posts: 4,141 Forumite
    Lets not read too much into this.

    As has been said many times already. Low volumes and the LR 'non standard market' fudge factor makes these numbers close to meaningless.
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    Combo Breaker First Post
    on the BBC news they were saying house prices had increased again this month?
    Pawpurrs x ;)
  • LR figures have a lag so these would correspond to the haliwide figures from 2-3 months ago. however if i remember rightly the haliwide figures have been positive for the past few months so it's interesting that LR contradicts them.
    plus ça change........
  • Timber!!!!!!!!! :D
  • abaxas wrote: »
    Lets not read too much into this.

    As has been said many times already. Low volumes and the LR 'non standard market' fudge factor makes these numbers close to meaningless.

    Your joking right house sales 30% lower than last year and about 50% lower than 2007 I would say this is not noise.

    [STRIKE]What this says is the love affair with property is over[/STRIKE] People can not access the debt they need to buy with.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    First Anniversary First Post Combo Breaker
    Your joking right house sales 30% lower than last year and about 50% lower than 2007 I would say this is not noise.

    [STRIKE]What this says is the love affair with property is over[/STRIKE] People can not access the debt they need to buy with.

    Be frightening when they can :eek:
    '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 Thatcher
  • LR figures have a lag so these would correspond to the haliwide figures from 2-3 months ago. however if i remember rightly the haliwide figures have been positive for the past few months so it's interesting that LR contradicts them.

    The data moves in mysterious ways.....;)

    In fairness, haliwide and LR are not too far apart in average price terms, all in the 155k to 160k range, and LR includes cash buyers where haliwide do not. The haliwide prices should therefore be slightly higher, as we all know cash buyers can get a better price than mortgage buyers.

    In other news, the monthly LR decline is only the case because LR revised last months figures upwards, but looking at the 3 data points it's basically flat.

    July £156,170, revised up from previously released figure for July of £155,885, and versus August £155,968.

    Neither bulls or bears have anything to get excited about with this one I'm afraid. A couple of hundred quid makes no difference to anyone.
    “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”
  • chucky
    chucky Posts: 15,170 Forumite
    Combo Breaker First Post
    LR figures have a lag so these would correspond to the haliwide figures from 2-3 months ago. however if i remember rightly the haliwide figures have been positive for the past few months so it's interesting that LR contradicts them.

    Halifax June was -0.4% but Nationwide was +0.85% both non seasonal adjusted.

    but looking at this months LR non-adjusted there isn't a fall but an insignificant rise of £83 - nothing to see here move along please...
  • Lotus-eater
    Lotus-eater Posts: 10,789 Forumite
    First Post Combo Breaker
    chucky wrote: »
    Halifax June was -0.4% but Nationwide was +0.85% both non seasonal adjusted.

    but looking at this months LR non-adjusted there isn't a fall but an insignificant rise of £83 - nothing to see here move along please...
    But surely this is the stagnation you have been talking about?
    That's of interest, isn't it?

    And without wanting to get into a B/B fight, isn't this the period when it had been whooped about house prices rising again?
    Freedom is not worth having if it does not include the freedom to make mistakes.
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