Are House Prices still Falling or Rising?

combine

Does anyone actually know from any official means or personal experience whether house prices are still falling or are they rising again?

I have been studying housing prices here in South Manchester and i am not sure what is going on(excuse my ignorance lol).

Some guy on tv the other night said they will continue to fall for a while yet i was talking to an estate agent the other day and she says that things are picking up?

A bit confused, maybe someone can shed some light on this please?

bumpoowee

The official measures suggest they have risen a bit this year in general but i think last month they dropped a bit. They still cost too much in any case.

PasturesNew

Q: Are House Prices still Falling or Rising?
A: Yes, they are.

hamblettamaud

the honest answer is:

if you are a seller then yes, house prices are rising

but

if you are a buyer then no, house prices are falling

(people will always talk up what they want to believe)

franklee

All I know is the economy is going to be in a right old mess for some time, too much debt. House prices are going to go down IMO the details depend on what happens to inflation, which is

Running_Horse

Try asking the house price forum. You won't get any sensible answer, but that's the place to ask. In answer to your question, house prices will rise, fall, or remain exactly the same. Anyone telling you which of these is definitely going to happen is a liar. If you plan to buy a house and live in it for a few years it doesn't really matter.

SingleSue

It's all very dependent on area...some areas have risen recently, some have fallen and some have stagnated.

In my area, we are still over 16% down year on year but stagnated in the last figures month on month received, whilst others saw 2% growth.

The best bet is to research sold prices (not asking prices) for your particular area rather than relying on the average figure for the country.

TrickyDicky

In woking, some houses seem to be selling within a few days of going on the market, especially in the 3 bed range. Havnt seen any rise in asking prices yet, but they seem to have stopped going down.

DVardysShadow

If you go from Snowdon to the sea, there are some routes you can take where you go uphill for a bit. At a time like this, it is not meaningful to say prices are going up or down, unless you say over what time scale. Over a 3 year timescale they are almost certainly going down. On a quarterly timescale, they are moving from rising to falling and on a monthly timescale they are falling.

furfoxache

I live in South manchester (Chorlton) and the house prices have stuck at their current level for houses in the nicer parts for around the last 3 years. Flats are going down though. I know Sale is particularly sought after at the moment too.

JimmyTheWig

combine wrote: »

Some guy on tv the other night said they will continue to fall for a while yet i was talking to an estate agent the other day and she says that things are picking up?

As per many of the above answers, no-one knows.
But remember that the estate agent you were talking to has a vested interest in you thinking things are picking up.
Do you believe a dentist when he says "this drill won't hurt"? Then why believe an estate agent when they say "buying this house won't hurt"? I'm not saying that that means prices are falling, I'm just saying take what the agent says with a pinch of salt.

DVardysShadow wrote: »

If you go from Snowdon to the sea, there are some routes you can take where you go uphill for a bit.

I love this analogy!