House prices fell by 0.5% in July - Nationwide

Generali

Graham_Devon wrote: »

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?

There's less reason to now HIPs have been taken out of the picture.

System

Graham_Devon wrote: »

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?

I expect so, it's what happened last time. Lower prices = less supply.

The only thing that will change that is a lot of forced sellers, which isn't really looking likely now, especially when compared to 2008.

Blacklight

Generali wrote: »

There's less reason to now HIPs have been taken out of the picture.

Perhaps, but there must be an element that need to fetch a certain price. It certainly won't encourage people to put their homes on the market.

chucky

brit1234 wrote: »

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

in summary

Nationwide is still 2.2% positive
Halifax is 0.1% negative
Land Registry is 0.2% negative
Acadametrics is 1.9% negative

i was expecting some massive drops ... guess i must have missed them...

sarkin1

Morning Chucky

chucky

sarkin1 wrote: »

Morning Chucky

how you doing sarkin?

Generali

Blacklight wrote: »

Perhaps, but there must be an element that need to fetch a certain price. It certainly won't encourage people to put their homes on the market.

I agree. It's fairly basic economics that lower price => lower quantity supplied

chucky

Joeskeppi wrote: »

I expect so, it's what happened last time. Lower prices = less supply.

which means less people are able to buy when house prices are low...

it happens each and every time...

doire_2

carolt wrote: »

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

:j:j:j

You have to laugh at the VI at the BBC with their headlines.

If it had been a rise then the headline would have said "House Prices Continue to Rsis"

Instead of telling people prices have fallen the BBC go with "eases"

doire_2

chucky wrote: »

which means less people are able to buy when house prices are low...

it happens each and every time...

As opposed to thousands and thousands being priced out when prices are sky high?

I have said it before and i'll say it again, if people really want a home they should save for a big deposit. People need to be more repsonsible.

Its time people woke up. The days of banks giving money to anyone that turned up at a branch are long gone.