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

HAMISH_MCTAVISH

Demanufacture wrote: »

I believe Halifax is about 20% and Nationwide about 17%, .

Nationwide is currently 13.88% down from peak.

And up over £12,500 from it's february trough.

HAMISH_MCTAVISH

the_ash_and_the_oak wrote: »

well transactions levels seem to suggest not really

Transaction levels are up over 80% from their weakest point last winter.

Now at almost 70,000 sales per month.

HAMISH_MCTAVISH

Kenny4315 wrote: »

i found this table which shows all the indicators.

http://www.housepricecrash.co.uk/

I have found hpc charts/graphs etc are often outdated when prices are rising. They don't seem to be in a hurry to update them then for some reason.;)

One of the mods, Jason, has a signature which shows current falls from peak on all the indices though. Useful, and usually updated promptly.

b0rker

70% Down By Christmas 2009!!!

b0rker

mewbie wrote: »

The thing about bubbles is that eventually even all the hot air in the world cannot keep them inflating.

Are you mixing your Bubbles with your Balloons?

IveSeenTheLight

b0rker wrote: »

70% Down By Christmas 2009!!!

You'll be quoted on that you know
What a saving to make in the next three months

b0rker

IveSeenTheLight wrote: »

You'll be quoted on that you know
What a saving to make in the next three months

Hopefully only Devon would be stupid enough to quote me saying that on a thread about a 0.1% drop.

As no one takes him seriously I am not too fussed.

Cleaver

the_ash_and_the_oak wrote: »

well transactions levels seem to suggest not really

I would say that the low transaction levels are a product of an unavailability of credit to people that may have got it at most points over the last ten years and people not wanting to buy in to a market that was dropping like a stone.

I've often said on here that the sentiement that 'we' Brits have towards houses, in that we love owning them, doing them up, living in them, bragging about them, watching shows about them, making money out of them and generally debating the merits of them, shows no sign of abating.

I suppose what I'm saying that if 10 million people wanted to buy a house for whatever reason three years ago I think those 10 million people still do want to buy a house just as badly. At the moment, as you've correctly pointed out, there are the issues of lack of credit, higher LTVs and therefore bigger deposits and a much-altered housing market to contend with, thus much lower transactions. If those aspects start to change (and a stronger economy and a more confident banking sector looks more likely now, strangely) then I still think there is a demand from people who want to buy a house still. I think the recent rises that have caught pretty much everyone by surprise shows that.

mewbie_2

Cleaver wrote: »

I love houses

That's very nice. We shall see if the love is strong enough over the next few years.

the_ash_and_the_oak

Cleaver wrote: »

I would say that the low transaction levels are a product of an unavailability of credit to people that may have got it at most points over the last ten years and people not wanting to buy in to a market that was dropping like a stone.

I've often said on here that the sentiement that 'we' Brits have towards houses, in that we love owning them, doing them up, living in them, bragging about them, watching shows about them, making money out of them and generally debating the merits of them, shows no sign of abating.

I suppose what I'm saying that if 10 million people wanted to buy a house for whatever reason three years ago I think those 10 million people still do want to buy a house just as badly. At the moment, as you've correctly pointed out, there are the issues of lack of credit, higher LTVs and therefore bigger deposits and a much-altered housing market to contend with, thus much lower transactions. If those aspects start to change (and a stronger economy and a more confident banking sector looks more likely now, strangely) then I still think there is a demand from people who want to buy a house still. I think the recent rises that have caught pretty much everyone by surprise shows that.

I'm not necessarily disagreeing with anything here - its just you said isn't it possible its all down to a "load of people buying again" - and I think the transaction figures say that it isn't that.

While demand has taken a hit I don't think desire or sentiment has taken much of a hit at all, at any point