Halifax Hpi September 2010 -3.6%

Really2

des_cartes wrote: »

Low interest rates and high inflation = falling living standards as wages fail to match growth in prices (current situation)

Higher interest rates to control inflation = higher mortgage = falling living standards.

Either way less money for buying houses.

Not sure I have ever that house price would go up in the short to medium turn TBH.
So the best option would have been getting one of them nice lifetime trackers when they were 0.49% of BOE BR then.;)

ILW

Heyman wrote: »

What about low interest rates and low inflation (or deflation), which is what the BofE are predicting for the medium term?

They have been predicting low inflation for the past two years, but there always seems to be another blip they they did not allow for. Do wonder how they justify their substantial salaries.

poppycod

THE_GHOULISH_CONSIPRACIES wrote: »

Mods please lock down this thread. There are numerous threads on todays stabilised prices.

another infestation of these "ghouls".

Seem to pop up as soon as the previous one has been binned...

blueboy43

benb76 wrote: »

How is it possible to seasonally adjust annual figures?

no idea, but the Halifax spreadsheet has tabs for both non and seasonally adjusted national prices.

My view would be when comparing annual increase or decrease, it would be best to use the non seasonal adjusted price in both cases.

Really2

Graham_Devon wrote: »

No, because it doesn't show house prices. Sorry.

Good job someone posted that for you 5 mins ago.;)

But it does, (I asked the same level as today) when HPI is 0% is the only time you can say house prices are at the same level as a year earlier.

Really2

ILW wrote: »

They have been predicting low inflation for the past two years, but there always seems to be another blip they they did not allow for. Do wonder how they justify their substantial salaries.

2010 2.5% VAT increase
2011 2.5% VAT increase

Both will add over 1% on YOY prices. Hardly the BOE's fault or something they can target TBH.

blueboy43

Pete111 wrote: »

Big drop that - No doubt.

Shame the Halifax does not do regional prices however. Nationwide reported higher than average rises for London in their last report so I would guess any falls in the capital are more restrained.

I'm more interested in what the estate agents says tonight when he values my flat. Following that I will be extremely interested in what my current tenants say given they have expressed an interest in buying it from me.

Will report back

they do have regional prices, but they are done quarterly and Q3 has not been published yet. Check the spreadsheet that you can download from their site.

IveSeenTheLight

blueboy43 wrote: »

I would guess that its only if prices increase by £7k over the next 3 months, will your boasting prove correct.

Stranger things have happened.

While Nationwide and Halifax can be used as indicators, I far prefer the LR index as the better reflection on house prices.

Let's see where they are at the end of the year

ruggedtoast

Jonbvn wrote: »

Fair play for you honesty.

Personally, I'm ambivalent on one month's figures. Using the share analogy, I may just consider topping up, if the dip is protracted.

In my experience of watching the housing market and viewing properties over the last few years, the nice areas just dont go down that much.

Throughout the bottom of the market in 2009 prices in my area of West London, where I was living at the time, were no lower than 2007, and in many cases went up, quite rapidly at the end of '09.

What can I say, so tired of renting, have a young family bursting out of a pokey 2 bed house in a so so area, and a beautiful, much larger place to buy lined up in one of the best districts in the area.

And my mortgage will be £10 a month less than my rent.

If there are more falls like this there will be a pretty crippling immediate effect on the housing market. But I'm not convinced it will be sustained, or really offer the bargains that people are hoping for.

Interesting times.

lostinrates

I don't see how anyone can see this as anything other than big. Even if its a blip its a notable one.

I personally think its more than regional, anecdotally, its house type/price ranges too.

I still think a lot is about stability. As a nation we wait to see how the political changes will impact....the more you are likely to be cushioned from this the less it impacts on your decision to buy.