House prices fell by 0.5% in July - Nationwide

Really2

DaddyBear wrote: »

The YOY figure plunged by 2.1%.

That says more about last years rises than this fall TBH. Still looks that the year will end up fairly static / stagnant (or who ever wants to argue the definition:)) on most indexes.

ruggedtoast

Shes dropped the price way below what she paid for it but there are so many vacant ones in the block they just dont sell. There is a real shortage of pent up demand from last time buyers at the moment.

Rinoa

Pete111 wrote: »

Think it was a poster on here stated it this week - just curious

Yes, LR revised May from -0.2% to +0.2%.

Nationwide index now just £21,601 higher then February 2009.

It's a total disaster for the bulls.

ruggedtoast

Rinoa wrote: »

Yes, LR revised May from -0.2% to +0.2%.

Nationwide index now just £21,601 higher then February 2009.

It's a total disaster for the bulls.

At least theres some good news from Catalonia.

adr0ck

I'm not surprised we are now seeing a drop in house prices for a number of reasons:

less barriers to entry for putting house on market (i.e. no HIP) - therefore more supply

the general mood in the country following CONDEM announcements of cuts and future cuts - therefore less demand

large percentage of potential buyers being frozen out of mortgage market (i.e. self employed) - therefore a lot less demand

Blacklight

adr0ck wrote: »

large percentage of potential buyers being frozen out of mortgage market (i.e. self employed) - therefore a lot less demand

Tipton & Coseley 3yr 0.10% Disc FTB LTV 100%

This mortgage is not just available to existing customers
This mortgage is not just available to existing borrowers.
This is not just available for remortgages.
The standard variable rate is 4.89%
This product is available to first time buyers.
The maximum loan to value for first time buyers is 100%
LTV 100% to £200,000.
This product is available to the self employed.

Graham_Devon

Blacklight wrote: »

Tipton & Coseley 3yr 0.10% Disc FTB LTV 100%

This mortgage is not just available to existing customers
This mortgage is not just available to existing borrowers.
This is not just available for remortgages.
The standard variable rate is 4.89%
This product is available to first time buyers.
The maximum loan to value for first time buyers is 100%
LTV 100% to £200,000.
This product is available to the self employed.

All I will say to that is....

Try to get it.

You won't be the first to be turned down for a product, and be shown another product they can offer you.

neverdespairgirl

0.5% isn't a massive drop, but the trend over the past few months appears to be rises slowing, then drops. So the next few months will be interesting.

brit1234

Blacklight wrote: »

Tipton & Coseley 3yr 0.10% Disc FTB LTV 100%

This mortgage is not just available to existing customers
This mortgage is not just available to existing borrowers.
This is not just available for remortgages.
The standard variable rate is 4.89%
This product is available to first time buyers.
The maximum loan to value for first time buyers is 100%
LTV 100% to £200,000.
This product is available to the self employed.

The property must be located within one of the following Midlands counties - West Midlands, Staffordshire, Shropshire, Derbyshire, Nottinghamshire, Leicestershire, Warwickshire, Herefordshire, Worcestershire, Oxfordshire, Northamptonshire and Gloucestershire unless the customer is an existing borrower. Existing borrower applications are considered nationwide.

Have to use parents home as deposit if any equity in it. The valuation on the family members' property will be charged at our normal scale fee.

Maximum £200K Loan

http://www.thetipton.co.uk/home/mortgages/parental-assisted-fixed

So in reality they are taking all the equity out of your parents home so they can never move or sell. Sounds great :rotfl:

HAMISH_MCTAVISH

Generali wrote: »

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

Indeed.

Supply will dry up, prices will rise again.