MSE News: House prices confusion - are values rising or falling?

This is the discussion thread for the following MSE News Story:

"Halifax says today that prices were down in May but Nationwide said yesterday there were up. Confused? ..."

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    MSE_Guy wrote: »
    "Halifax says today that prices were down in May but Nationwide said yesterday there were up. Confused? ..."



    Not at all. As they gain their information from different sources. ;)
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    Thrugelmir wrote: »
    Not at all. As they gain their information from different sources. ;)

    And shouldn't this thread be in the house prices board?:money:
    “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”
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
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    Surely it just means that prices are staying relatively still?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    And shouldn't this thread be in the house prices board?:money:

    Poorly researched journalism so would be ripped apart I fear.
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
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    If they are not rising in May, they will surely be cra... falling come the Autumn.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    If they are not rising in May, they will surely be cra... falling come the Autumn.

    GG

    There's a saying sell in May and go away.
  • stphnstevey
    stphnstevey Posts: 3,224 Forumite
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    Its far too short a period to measure house price fluctuation. House prices don't change as rapidly as currency prices or shares etc. Look at the yearly change to get a true picture.

    And why look at all unless your looking to sell and why would you want to sell your best asset?
  • brit1234
    brit1234 Posts: 5,385 Forumite
    From where I see it house price rises are leveling off and starting to fall.

    You have to look at each price survey and when the data relates too. Forexample this months land registry figures reflect prices months ago not today Nationwide and Halifax are more uptodate but still don't reflect today.

    Also the pricr figures are heavily distorted by low transactions, luxury homes in London being bought by foriegners and government schemes such as hombuy who distort the overall picture upwards.

    The simple fact is house prices are overvalued, there is less money in the system, public sector wasges will be frozen and inflation is running high. Prices are now starting to fall again.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • naked
    naked Posts: 107 Forumite
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    A house I was looking to buy in the new year but couldn't afford has been reduced by another £10,000 (£100K > £75K > £65K for a 1.5 bed mid terrace)

    The asking price is now 5K lower than what I paid for where I live now, and it seemed a better place :(

    So in my experience prices are still falling.
  • QTPie
    QTPie Posts: 1,373 Forumite
    Really think it depends on the area and the sector of the market....

    I live in Bath (which is very popular with the second home market etc too) and the top of the market (large family homes upwards) has lept up recently by 10%+ between Feb and May... At the beginning of the year there were quite a few properties marketed in the region of £825/£875k were SNAPPED up and now similar properties are marketed at £925/£950/£995k and still getting snapped up (normally before the details get onto Rightmove...).

    Not the same for smaller family homes though. We marketed for £459k in beginning of 2009 and sold for £420k within a month. Identical or better properties (same development) coming on at £460k and not budging (after about 3 months) - don't know if they have rceived (and turned down) any offers... I feel that the "smaller family homes" sector here probably hasn't budged in 16 months here...

    QT
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