Debate House Prices


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MSE News: Halifax: house prices up 10% since bottom

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2456

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  • nollag2006
    nollag2006 Posts: 2,638 Forumite
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    Joeskeppi wrote: »
    Seriously?

    Quite seriously.

    abaxus yesterday started a thread about a "Coupe da tar" (Coup d'etat)

    Not the sharpest knife in the drawer.
  • stueyhants
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    nollag2006 wrote: »
    This, to me, is perhaps the most encouraging part of the press release.

    :T:T:T

    FTB homes are now far more affordable than they have been for years.

    As the mortgage market continues to thaw into the new year, we can only home that more potential FTBs are able to take advantage of this, and get started on the housing ladder

    What I can't understand and hope someone can help me here is how this affordability has improved.

    If we believe the haliwide indices then houses are not that much lower than peak. Wages haven't really gone up much and interest rates for new buyers are not really far off normal (i.e. 5%+ for a fixed)

    So is the drop to 27% more a reflection of who is buying now, FTB are buying sensibly not overstretching and with a huge deposit and thus this drop is not a good comparision to the type of FTB who bought in 2007 ?
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    Combo Breaker First Post Mortgage-free Glee!
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    Erm...Timber......?
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Really2
    Really2 Posts: 12,397 Forumite
    Combo Breaker First Post
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    lemonjelly wrote: »
    Erm...Timber......?

    Or should it be

    REBMIT
  • skap7309
    skap7309 Posts: 874 Forumite
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    I actually delayed posting it as I thought I'd be beaten by the Frothing Scotsman ;) What's happened to the old boy?

    Im sure he will be along any minute now with plenty of these - :beer::beer::beer:
  • stueyhants
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    So in general (there will be exceptions !!!) anybody not in their final house (i.e. house for life) has seen the gap between their house price and the one they want increased today, not sure I'd be celebrating that.
  • HammerSmashedFace
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    Love it, I would have liked 2%+ but this will have to do I guess. I've bought my ticket, I'm just about to get my bucket of popcorn, the greatest show on earth will be starting soon.:D
  • Cannon_Fodder
    Cannon_Fodder Posts: 3,980 Forumite
    edited 7 January 2010 at 11:14AM
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    Stuey, re affordability, Halifax was nearly 20% below peak as at Q3. Need to wait a couple of weeks to see their Quarterly data come through for Q4.

    http://www.lloydsbankinggroup.com/media/excel/07_01_10_historic_data.xls

    That was still pretty substantial.

    Date,Region,Index, %, £Price
    Q1 2007 U.K. 613.9 11.1 189,681
    Q2 2007 U.K. 644.1 10.7 199,021
    Q3 2007 U.K. 649.3 10.7 200,623
    Q4 2007 U.K. 634.4 5.2 196,002
    Q1 2008 U.K. 620.9 1.1 191,852
    Q2 2008 U.K. 605.1 -6.1 186,958
    Q3 2008 U.K. 568.9 -12.4 175,764
    Q4 2008 U.K. 531.5 -16.2 164,225
    Q1 2009 U.K. 512.5 -17.5 158,359
    Q2 2009 U.K. 514.3 -15.0 158,892
    Q3 2009 U.K. 526.5 -7.4 162,689



    Having said which, with the change in lending criteria, especially in regard to poor credit history, it might be that not many FTBs can actually get the best low-rate mortgages that Halifax's research thinks are out there, and FTBs just remain "potential" buyers.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    First Post First Anniversary Combo Breaker
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    Sounds like were back to boom!
  • chucky
    chucky Posts: 15,170 Forumite
    Combo Breaker First Post
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    Love it, I would have liked 2%+ but this will have to do I guess. I've bought my ticket, I'm just about to get my bucket of popcorn, the greatest show on earth will be starting soon.:D
    that's what you said last Christmas!! :)
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