House prices fell by 0.5% in July - Nationwide

sarkin1

http://www.forexfactory.com/calendar.php


I guess some people are looking at the wrong charts

remember this is a credit crunch, not land crunch, not population crunch

Haaaaaaaaaaaaaaaaaaaaaaaaaaaaa

carolt

http://www.bbc.co.uk/news/business-10794461

:j:j:j

1984ReturnsForReal_2

Is that all the rises wiped out yet??

Or is that in another 6 months?

torontoboy45

'but it's only one index' 'calm down y'all.... means little....stagnation... I'll get a graph...'.

as opposed to: 'this is only the start...what did I tell you 2yrs ago...crash delayed but it's coming..'

one index. one call.

they're on their way, bless 'em.

Blacklight

HtHoldings wrote: »

Buyers typically still have to put down a deposit of at least 25% to secure a mortgage as banks and building societies continue to ration their mortgage lending in the wake of the credit crunch and banking crisis of 2007 and 2008.

Long gone are the days of 3x earnings and 10% deposit.

Will we see those days again?

Have a look here and click 're order' under where it says Max LTV.

I see plenty of 90, 95 and 100% mortgages for first time buyers.

"100% LTV only available for first time buyers." 4.35%

[edit] Oh, did Dirk get banned?

brit1234

Nationwide
Mar + 1.0%
Apr + 1.1%
May + 0.5%
Jun + 0.1%
Jul - 0.5% :j:beer:
http://www.nationwide.co.uk/hpi/historical/Jul_2010.pdf

Halifax
Mar + 1.0%
Apr - 0.1%
May - 0.4%
Jun - 0.6%
http://www.lloydsbankinggroup.com/me...dexMay2010.pdf

Land Registry
Mar - 0.3%
Apr +0.2%
May - 0.2%
Jul + 0.1%

Acadametrics
Mar - 0.5%
Apr - 0.7%
May - 0.2%
Jun - 0.5%
http://www.acadametrics.co.uk/acadHousePrices.php

Good day, I reckon land registry will go properly negative next month or month after due to delay.

The trend is clearly down :T

Generali

http://www.nationwide.co.uk/hpi/historical/Jul_2010.pdf

House prices fall back in July as buyer demand remains weak

House prices fell by 0.5% in July
Annual rate of house price inflation slips back further from 8.7% to 6.6%
Market conditions ease further as buyers still in short supply

"House prices fell in July for the first time since February. The price of a typical UK property fell by a seasonally adjusted 0.5% month-on-month, after having been unchanged in June. The 3 month on 3 month rate of change – a smoother indicator of the near term price trend – fell from 1.7% in June to 1.3% in July, significantly below the peak of 4.0% reached in September 2009. There was also a sizeable drop in the annual rate of house price inflation from 8.7% in June to 6.6% in July, due in part to the strength of house price gains in the same month last year........
Many potential buyers still lack the confidence to purchase their first home or trade up when faced with uncertainty over future income and employment prospects.....

More encouragingly, last week’s GDP figures showed that the UK economy recovered at a faster than expected pace in the second quarter. The 1.1% quarter-on-quarter growth rate seen in April-June was the strongest since early 2006. For the moment, however, concerns about the medium-term impact of fiscal austerity on personal finances is more than outweighing any potential optimism about the recovery’s short-term cyclical momentum.

At the moment, the market is clearly easing relative to the very tight supply conditions that characterised it since early 2009. However, it will take several more months to establish whether house prices are now simply oscillating around a flat price trend or whether a period of downward trending prices may be in store

Non-seasonally adjusted price is down 0.4%.
Another 6 months of 0.5% falls would be needed for YoY to be flat.
House price to earnings ratio is still a long way above the historical average.
Mortgage affordability is higher than it was in 1985 and at most times since.

Blacklight

However, it will take several more months to establish whether house prices are now simply oscillating around a flat price trend or whether a period of downward trending prices may be in store

Unless you're Brit of course, who's clever enough to have already determined the future direction.

brit1234

We should have some big drops in 3-4 months. The declines are always small during the transitional phase of rises to falls, bit like turning an oil tanker.

Really2

brit1234 wrote: »

We should have some big drops in 3-4 months. The declines are always small during the transitional phase of rises to falls, bit like turning an oil tanker.

But prices have not stopped falling since 2007! I read it on here so it must be true.;)

Graham_Devon

Just wanted to say good news, before this thread get's silly.

Wonder if people will now pull their houses off the market again, after we have just seen a rise in the number put on the market?