House prices fell by 0.4% in May.

chucky

sarkin1 wrote: »

Mate i cant keep up with you. the figures are right, no the figures are wrong well there right but these ones are wrong.

Can you confirm your position of S/A, so we know when you are talking rollox

seasonal adjustment or non-seasonal adjustment it doesn't really matter.

house prices will go up, house prices will go down it doesn't really matter.
people just need to stop calling a crash after a two months worth of data...

chucky

Emy1501 wrote: »

In line with my opinions that prices will be down by up to 5% by end of year. Think things will get tougher once we get into holiday season and cuts are announced.

House sales still strong where I am in South London but Flat sales are stalling and if this continues this will have an affect on people trying to trade up.

hold on a sec - despite agreeing with this logic and seeing this could be the case. you've always seemed to claim that the majority of flats are being sold without a chain. how would that affect people trying to trade up if they're currently empty?

Batchy

HAMISH, you talk drivel, the more you keep telling yourself this is the case, the more you can believe yourself. Its all in the nature of statistics. Economics think stagnation, as THEY UNDERSTAND figures.

FACT, The trend is house prices are falling, the annual figures as I have said in the past are comparing to the DRAMATIC times last year, if the statistics were smoother, then it would show realistically that prices are NOT increasing. Halifax with show annual increases increasing up to JUNE unless house prices fall more than 1300 than in May. Then in JULY, im expecting to see a swing in falling annual increases.

I monitor my area daily, SAD yes but im about to buy the right house for me.

When I was looking 2-3 years ago I could have brought a flat for 135k, now thats not selling at 120k, probably worth around 100k to be honest.

Right now, Im looking to buy a lovely detached property in a desirable area, as things have improved for me, ie, saved lots of money since then, earn more money now, than I did then, plus prices have fallen enough for me to get the house potentially i'll never need to move from. House buying is expensive and it was always in my interest to wait and jump two rungs of the ladder before house was acquired.

The arguments on here are swayed by each persons desires and personal circumstances. But the real facts are no matter how much you debate, unless you do something about it, it doesnt make much difference.

If your not buying, you should put all resources into saving. If your doing that, then in the future, you will never look back and think. I didn't actually do ALL I could to make sure I could get the house I really wanted, as I just fell short.

angrypirate

Food for thought - we are currently at September 2005 pricing levels according to the Halifax and travelling in the opposite direction

doire_2

chucky wrote: »

0.4% down is crash material.

is anyone reading and weeping?
no i didn't think so...

Jeeez calm down chucky. :rotfl: You take it all so seriously

chucky

doire wrote: »

Jeeez calm down chucky. :rotfl: You take it all so seriously

lol - yep, if you say so...

new_home_owner_3

http://www.businessweek.com/news/2010-06-03/pound-near-18-month-high-against-euro-as-u-k-house-prices-rise.html

I dont think this is right i seen a house down my road that has been up for sale for 15 years, it started at 200,000 pound and now its 114 pound, i dont know what the drop is, has my property wasp isnt working.

but heres a link if someone can work it out.

http://www.argos.co.uk/static/Product/partNumber/3400102/Trail/searchtext%3ETENT.htm

abaxas

As we know

1) The data is not reliable as they dont publish raw figures.
2) 0.4% is noise due to low number of transactions.

Ie dont read anything into these figures just look at the trend, which appears to be either small hpi or stagnation.

Emy1501

chucky wrote: »

hold on a sec - despite agreeing with this logic and seeing this could be the case. you've always seemed to claim that the majority of flats are being sold without a chain. how would that affect people trying to trade up if they're currently empty?

I have said before that I know 3 people selling with no intention of buying again. One of those people though are selling a second property so that they can get the funds to by a larger property sometime next year.

I have no idea how this compares to the market in general but I suspect that there are a fair few owner occupied sellers around.

angrypirate

abaxas wrote: »

As we know

1) The data is not reliable as they dont publish raw figures.
2) 0.4% is noise due to low number of transactions.

Ie dont read anything into these figures just look at the trend, which appears to be either small hpi or stagnation.

So the first 5 months of this year we have had 3 months of negative and 2 months of positives. Whats to say the 2 months of positive arent "noise" as you put it?

I believe this is why they publish a 3 month on 3 month change along with the numbers which in May stands at -0.1% and April stood at -0.5%