MSE News: Halifax: house prices down in June

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

"Property values fell for the third month in a row as the housing market recovery showed further signs of faltering ..."

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  • Brummygold
    Brummygold Posts: 52 Forumite
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    This is good news and hopefully will continue. House prices in the UK need to fall to allow first time buyers the chance to buy a home and homeowners will need less money to upsize to a bigger property. The only people who will lose out are the vested interests that caused this bubble.
  • brit1234
    brit1234 Posts: 5,385 Forumite
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    Great new for potential first time buyers. Keep saving and enjoy the falls as the housing bubble bursts.

    housing%20bubble.jpg
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • Percy1983
    Percy1983 Posts: 5,244 Forumite
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    Nice to know that my saving are actually getting me closer to buying a house.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
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    Price falls in June are a sure sign that the market is teetering on the edge of a cliff.

    20% down by February 2011 is my best guess.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • Catherine_Johnson_2
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    Depends what you read I suppose......

    House prices rise 3% in first half of the year


    • The price of a typical UK property inched up by 0.1% in June

    From the Nationwide Price Index
  • Percy1983
    Percy1983 Posts: 5,244 Forumite
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    I think overall its stagnation for the future, drops would be great, but just staying still would be nice.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • ray123
    ray123 Posts: 659 Forumite
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    This is the most reliable source, the Acadametrics index:
    http://www.acadametrics.co.uk/acadHousePrices.php
    Monthly Change
    -0.5%

    Annual Change
    7.7%


    LSL Acad HPI is the only UK house price index based upon every residential property transaction in England and Wales, in contrast to Nationwide, Halifax and Land Registry.
  • MissMoneypenny
    MissMoneypenny Posts: 5,324 Forumite
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    "Martin Ellis, housing economist for the Halifax, said that the figures were not a great surprise.

    "A shortage of properties for sale in 2009 contributed to an imbalance between supply and demand and was a key factor driving up house prices last year.

    "An increase in the number of properties available for sale in recent months has helped to reduce the imbalance, relieving the upward pressure on prices."


    We are trying to sell my mother's house and our buyer is now getting cold feet:(
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


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