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Debate House Prices
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Halifax Hpi September 2010 -3.6%
Comments
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Personally speaking, my parents are doing ....nothing..ATM. They are considering removing from market for the winter.0
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"The 3.6% drop was the biggest fall in month-on-month prices since the figures were first compiled in 1983."
"The half percentage point reduction brings interest rates below 2% for the first time since the Bank of England was founded in 1694."
Only immigration can save us! Hamish, get on the phone to your cousins.0 -
lostinrates wrote: »Personally speaking, my parents are doing ....nothing..ATM. They are considering removing from market for the winter.
As I think most reasonable people here have maintained in the past, if prices drop people just take their property off the market.
HIPS or not anyone dipping their toe in is likely to take it straight out again after this little nip.0 -
The figures are in real terms, so perhaps they have taken it on nominal for sept-sept. So nominally they are up but in real terms they have fallen?
Might be wrong but only thing I could think of.
I don't think so - even in nominal terms they are down about a grand....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
one little flaw in your theory RR - the increases in value are filtered out and aren't included in these "peoples" calcuations...RenovationMan wrote: »The 3.6% drop is against the price you paid for your house, not the original sale price. Its easy for buyers to look at Land Registry sale prices these days. Any prospective buyers will not know or be interested in what your house was originally up for sale at, they will see what you bought it for and then deduct the percentage drop in the market from that value.
This is academic because I know your house, like mine, is a 'lifer' and so any drops are immaterial.
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Pretty sure what they quote are the non-seasonal adjusted figures -Allmon(NSA) on the spreadsheet.
Wouldn't the adjusted-ness be the same for Sept last year and Sept this, though? Same season....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
HAMISH_MCTAVISH wrote: »I live in Aberdeen.
Not in Aberdeen.
Nope. Aberdeen prices already crossed previous peak this year.
And I'm around £50,000 ahead on my latest purchase versus not buying and renting for the same time frame. And that amount is increasing every month.
So if we have another crash like the last one, I'll be 100K ahead by the end of it.
It's why I don't get worked up about it any more....
Time is the enemy of crashaholics.
A short sharp crash would have meant it might have paid off for them... But a long drawn out affair means it's virtually impossible for them to benefit.
LMFAO
Seriously, Hamish, you're a piece of work. When prices have been rising 0.5% for a month or so, you're the first to rush here, gloat and celebrate your good fortune.
When they fall 3.6% you celebrate your good fortune.
You're not a bit simple, are you?0 -
lostinrates wrote: »Personally speaking, my parents are doing ....nothing..ATM. They are considering removing from market for the winter.
I think anyone who is not motivated enough will do so.
it is going to be a mini version of 08/09, I dare say we will see a few more flourishes and contractions like this.
With houses coming off the market until buyers think the market is back to where they want to sell at.
It's odd all this standoff on prices, I would say the last 2 years have seen the majority of sellers and buyers being motivated.
The house market is not as it was and many are not willing to sell unless they get a price they see fit, which could be years away.0 -
Says the man who has made a name for himself on this site by being utterly obsessed with the state of the housing market in this country.
Hamish, there is more to life than money, seriously.
He is now only obsessed with the housing market in some godforsaken scottish outpost.
On the plus side, Hamish, a 3.6% fall in Aberdeen probably only impacts your prestigious portfolio by around £150.0
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