Halifax Hpi September 2010 -3.6%

FTBFun

Graham_Devon wrote: »

Oh yawn.

Such a simple comment, drilled down into like this. I mean seriously, what gives?

It's about an average, and you are trying to take their comment which is talking about averages and apply drilled down specifics to it. Not something they were trying to even imply.

I know what the guy meant...and the comments sections are full of the same kind of comments, along with dancing...

I just find the comments about people dancing and so on about a bit of news that may make no difference whatsoever to their house buying situation rather odd.

Graham_Devon

FTBFun wrote: »

I just find the comments about people dancing and so on about a bit of news that may make no difference whatsoever to their house buying situation rather odd.

I find it a little odd, that as a FTB (apparently) you fail to realise that the price of what you are wanting to buy, dropping on average £6k, is something that "makes no difference whatsoever".

Really2

IveSeenTheLight wrote: »

Not necessarily.
When you start looking at the specifics, the amount dropped could be far less, or could even be increased in price.

Of course the specific area could be even lower meaning your bargaining power is even better.

You cannot take one index UK average rate as bargaining power as innevitably it could be countered with another more specific index.

Indeed you can imagine the coversation based on an index.

Buyer: I want 3.6% off this month based on the Halifax
Seller: OK, One condition.
Buyer: cool
Seller: House prices have gone Up 2.6% YOY and the house as been on the market for a year. So lets call it 2.6% over asking price.
Buyer: Oh.

Situation has far more leverage in bargaining than any index IMHO.

Exocet

FTBFun wrote: »

I just find the comments about people dancing and so on about a bit of news that may make no difference whatsoever to their house buying situation rather odd.

It's about being proved right.. after all these years.. sob. I never thought I'd see the day when I could tell my grandchildren that Grandad wasn't such an old fool when he was a member of HPC. At least now I'll see a new look of respect in their eyes.

FTBFun

Graham_Devon wrote: »

I find it a little odd, that as a FTB (apparently) you fail to realise that the price of what you are wanting to buy, dropping on average £6k, is something that "makes no difference whatsoever".

I bought two months ago, can't be arsed to change my user name.

Plus I live in London, which is in its own world when it comes to house prices!

Graham_Devon

FTBFun wrote: »

I bought two months ago, can't be arsed to change my user name.

Plus I live in London, which is in its own world when it comes to house prices!

Ahhh, fair play.

Makes sense now.

IveSeenTheLight

Graham_Devon wrote: »

Oh yawn.

Such a simple comment, drilled down into like this. I mean seriously, what gives?

It's about an average, and you are trying to take their comment which is talking about averages and apply drilled down specifics to it. Not something they were trying to even imply.

I know what the guy meant...and the comments sections are full of the same kind of comments, along with dancing...

Yes Graham, it is an average which you, (yes you, go on and deny you did now) said it increased the bargaining power.

Of course if your bargaining it's on a specific property, hence my comments relating to specific locale.

your right though, yawn indeed

Generali

neverdespairgirl wrote: »

For example. Sales up 100%. Supply up 200%. Demand is falling, relative to supply. So the number of sales doesn't tell you much.

The number of sales, if prices aren't changing quickly, tells you exactly what supply and demand are. They are both the same and equal to the number of sales at that price.

Demand isn't the number of people that want to buy something, it's the number of people able and willing to buy something at any given price. Similarly, supply is the number of people willing and able to sell at any given price.

If a bunch more people list their property with Estate Agents but aren't willing to accept the price at which they will sell, supply hasn't risen although it may be an indication that it will in future. Similarly, if more people are seeking mortgages but are being turned down, as seems to be the case at present, demand isn't rising as while more people fancy buying a house, the implication is that they can't afford it without a mortgage.

Thrugelmir

Blacklight wrote: »

Firstly Halifax aren't providing as much of the product that they were to anyone anymore.

Who is then?

tomterm8

Generali wrote: »

The number of sales, if prices aren't changing quickly, tells you exactly what supply and demand are. They are both the same and equal to the number of sales at that price.

Demand isn't the number of people that want to buy something, it's the number of people able and willing to buy something at any given price. Similarly, supply is the number of people willing and able to sell at any given price.

If a bunch more people list their property with Estate Agents but aren't willing to accept the price at which they will sell, supply hasn't risen although it may be an indication that it will in future. Similarly, if more people are seeking mortgages but are being turned down, as seems to be the case at present, demand isn't rising as while more people fancy buying a house, the implication is that they can't afford it without a mortgage.

I agree. To put it another way, if less people are applying for mortgages at the market rate, but more people actually get them, demand is increasing.