Halifax Hpi September 2010 -3.6%

StevieJ

Exocet wrote: »

Slight problem with this. How could prices drop if people just took their house off the market? Surely prices would never drop if that was the case, they would always remain the same or be higher.

I expect I am missing something clever, please explain.

Not all people, but enough to stabilise the supply demand equilibrium

mbga9pgf

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.

They wont, because it was a repo, and its not listed on the land registry smart @rse! I am not planning on moving for the next 40 years so its immaterial too! But you asked...

Really2

Aberdeenangarse wrote: »

Not if their, Dead, Divorced or relocated

In my post I would class them as motivated.;)

neverdespairgirl

chucky wrote: »

no Hamish it's not a statistical blip. its the results of one months Halifax figures that you can't get away from.

one thing they are is that they are distorted geographically.

the North has house price falls while the South East doesn't.


http://www.lloydsbankinggroup.com/media/pdfs/halifax/2010/300910Sales_Hotspots.pdf

that's number of sales, though. Not necessarily the same as price.

Graham_Devon

RenovationMan wrote: »

I'm dreading going home, I'm worried that 3.6% of my property will be missing. I just hope it's not a supporting wall! :eek:

It's your percentage ownership and equity that will be missing.

Though I realise you say you are not bothered by this.

poppycod

StevieJ wrote: »

So why didn't they in 2008/2009 when house prices fell 20%?

They did - thats why prices fell by 20%.

RenovationMan

bendix wrote: »

Is the fact that you have erased your signature in which you record the progress of your ownership of your house related in anyway to the above post?

Nope, sometimes I remember to tick the "Show your signature" box and most times I dont. I find that when I make a smaller post my signature is larger than the post and clogs the thread. I often forget to hide it though.

The house valuation on the signature is based on my purchase price and wont change until I get the house re-valuated with my next mortgage, regardless of whether the indexes say that my house is worth more or less in a particular month.

howler_2

And interest rates havent even started rising yet - more good news to come

lostinrates

Really2 wrote: »

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.

I definitely agree about flourishes and contractions.

RenovationMan

doire wrote: »

Whereas all the FTB were worried having to pay something like an extra £150 last month for a house when bulls were celebrating the Nationwide figures.

if you aren't selling your house then why post anything about house prices? Its not like a fall or rise is going to affect you short term is it?

I've said many times that I'm not interested and I rarely post on HP threads, however I'm in a posting mood this week and the Child Benefit discussion has run out of steam, so here I am.

Luckily, the BoE interest rate figures are now out (no change) so I removed myself over there, to return here just to reply to my 'quoters'.