Halifax Hpi September 2010 -3.6%

sleepyj

Graham_Devon wrote: »

In fairness, Halifax will probably record +3.9% next month the way things seem to be going at the moment!!

More likely -5%

RenovationMan

bendix wrote: »

Ahh, well in that case might I suggest you amend the current value from £450,000 to £433,800 accordingly.

Nahhhh . .seriously, I'm pulling your chain. I'm neither a bear nor a bull and know you're one of the sensible ones on here - it's watching Hamish squirm and turn this into a positive that is so entertaining at the moment.

I might have to adjust my overpayments if prices really do fall so that I can hit my 50% target, but to be honest the goal is just an arbitrary figure I thought would be motivating. The important thing is to ensure I have the best LTV figure for remortgaging purposes and currently the mortgage companies are only looking for 60% LTV for their best rates and I'm there already.

I know your only funning with me. This board is very entertaining this week, what with 'benefit gate' earlier this week and now '3.6% gate', it's a wild ride.

sleepyj

Bangkok-Dave wrote: »

Fair play to the bears. That's a big drop.

I don't think you will see every house for sale now remarketed for 3.6% lower. Same as before. People will either take their house off the market or sit it out for the price they want.

We had all this in 2008. People don't need to sell their house cheap. They can sit it out. Whatever happens give it a year or so and prices will be over 3.6% higher than now. If like me you have a tenant or you are not selling what is the problem?

You don't get any money in your bank when data rises 1% so you don't lose when they go down. It's only important when you have a for sale sign outside.

I gave u being interested in house price arguements about 2 weeks ago in case you didn't notice. Even changed my signiture.:)

So these people, did they sit it out last month or wake up to reality and sell at 3.6% lower?

AD9898_2

The huge amount of debt that has crippled, not only the government but millions of people has been a disaster for the country and the economy. Over two thirds of that debt is mortgage debt, much of which has been taken on in the years of lax lending and poor borrowing.

It can't carry on, sure issues can be masked by dropping approvals, low IRs, banks not repo'ing, SLS etc, but all these are unsustainable, certainly over the period of the average mortgage (25 years).

You can only back yourselves into a corner by a certain amount, then one day something has to give.

For the Halifax index, that day is today. The debt burden is simply unsustainable.

dopester

neverdespairgirl wrote: »

I agree. This is a very loud noise, though. The brass band catagory of housing market noise.

It's music to my ears.

I'm worn out. Saw the Halifax numbers first thing this morning and since haven't been able to stop breaking into a (fully clothed) Frank Skinner dance every 30 minutes or so.

avantra

Aberdeenangarse wrote: »

Beat me by a minute - well done. Oh well at least they're still going up 'where I live'

We know of another Galic speaking country where prices kept going up.;)

Bangkok-Dave

Now I'll be first to admit this is the bears day.
If data had risen 3.6% the bulls would have dished it out.

What I hate seeing is nasty bits of work like Dr Gloom or whatever his name is. Look at this..

Property prices drop £6,000 in a month


The price of a typical house dropped from £168,124 in August to £162,092, according to Britain’s biggest mortgage lender Halifax.

The decline will bring more home owners closer to falling into negative equity, where their mortgage is greater than the value of their home.

This is clearly an individual who has no interest in buying a house. His only concern is that people more sucessful than him lose something. What goes around comes around my friend. You are in the gutter for a reason. Even if house prices dropped 50% homeowners would have 50% more than you.:rotfl:

Exocet

Bangkok-Dave wrote: »

Even if house prices dropped 50% homeowners would have 50% more than you.:rotfl:

Sorry mate but that is only true for houseowners with more than 50% current equity. Granted that is a lot of people, but probably a lot have less than 50%. It's all about the supply demand balance equilibrium, don'cha know.

Graham_Devon

dopester wrote: »

It's music to my ears.

I'm worn out. Saw the Halifax numbers first thing this morning and since haven't been able to stop breaking into a (fully clothed) Frank Skinner dance every 30 minutes or so.

I saw a comment on a news article. Said this £6000 average price drop is equal to nearly their entire rent for a year while they are saving a deposit.

Can see why people are dancing!

doire_2

Bangkok-Dave wrote: »

Now I'll be first to admit this is the bears day.
If data had risen 3.6% the bulls would have dished it out.

What I hate seeing is nasty bits of work like Dr Gloom or whatever his name is. Look at this..



This is clearly an individual who has no interest in buying a house. His only concern is that people more sucessful than him lose something. What goes around comes around my friend. You are in the gutter for a reason. Even if house prices dropped 50% homeowners would have 50% more than you.:rotfl:

Sibley you are nothing but a coward. Why hide behind the name bangkok dave?

I mean you are so thick you couldn't even come up with a moniker to throw us off the scent. You claim (as sibley) to be in bangkok and then come up with another moniker called bangkok dave.

Stay away from the lady boys. You might catch something but i fear its too late