Halifax Hpi September 2010 -3.6%

RenovationMan

BACKFRMTHEEDGE wrote: »

Ha! Ha! Renovation Man. I have been posting on MSE for a very long time and I know you play "the Game" better than anyone;)

But 'tis the internet so i don't really care:D

And I will enjoy your self-righteous indignation, if you can be bothered :rotfl:

I didnt realise I was indignant, whether it was self-righteous or not. I thought I was just stating facts?

The only game Im playing is to log my MFW challenge, help people if I can and to enjoy a bit of banter with the regulars to pass the time. It seems to me though that some people on here think banter means 'to trade nasty insults'.

BACKFRMTHEEDGE

RenovationMan wrote: »

I didnt realise I was indignant, whether it was self-righteous or not. I thought I was just stating facts?

The only game Im playing is to log my MFW challenge, help people if I can and to enjoy a bit of banter with the regulars to pass the time. It seems to me though that some people on here think banter means 'to trade nasty insults'.

Whatever......

IveSeenTheLight

1984ReturnsForReal wrote: »

Just proves the stupidity of Aberdonians

lol, whatever.

To brand or stereotype people from the birth location is just plain ignorant

IveSeenTheLight

Generali wrote: »

House prices have fallen by 3.6% according to one measure but it's ok because it's just noise. Having said the the noise might be that of the UK's housing markets crashing. Or it might be the eerie silence of stagnation.

Hard to say which really, hence 500 odd posts. Someone made a good point around the 180 mark that you should look out for. Or was it 380? I can't remember.

It was 329

Generali wrote: »

Very true, and point well made. .

dopester

ukcarper wrote: »

I bet a lot of people will just leave their house on at the same price and ignore low offers.

As I understand it, if only one house sold in each city and town next month, 20% lower than similar property has been selling at, then the Halifax house price index will fall 20%. Implicit values falling for all property from the transactions and prices being processed.

• On the sellers side we have, amongst other things, very low interest rates for repayment of mortgages (on the whole), anti-repossession policies (Mortgage Rescue Schemes, tweaked SMI ect.. but that might be running out for many people), challenging employment market ect.
• On the buyers side, we have much tighter credit conditions for those who even qualify, mortgage revulsion from those worried about their future employment/wealth circumstances about buying or trading up at these price levels, worried about employment market, ect.

So less money/credit out there for buying, but also less pressure on owners to sell. Nevertheless, some sellers are under pressure to sell, and some just desire it, and can reduce their asking prices or accept lower offers. And if it wasn't for such low interest rates, SMI ect, these offers probably wouldn't be so high as they are.

The Herald
Property price plunge blamed on need to sell
Helen McArdle
8 Oct 2010

Homeowners who cannot hold off selling any longer have been blamed for the biggest monthly drop in house prices for almost 20 years, prompting fears of a renewed downturn in the UK property market.

Experts said that people who were buoyed by the last Labour government’s promises that the worst of the credit crunch was over are struggling to attain asking prices for their properties, leading to a 3.6% fall in the average UK house price in September.

The figures contained in the Halifax’s monthly house price index yesterday were the biggest drop since the bank began compiling them in 1983. In August, it had reported the number of approved mortgages for homes in August was at its lowest level in six months.

Mr Cullens said it was now a buyers’ market. He added: “We’ve seen volume figures increasing. People were holding out for the right price and they now realise that’s not going to happen. They now realise there’s no advantage in holding off. The cost of moving up is less, and the cost of borrowing is at an all-time low.”

Blair Stewart, property manager in charge of Edinburgh City for Strutt & Parker, said there had been a huge correction.

He said: “Reality is finally starting to set in that the 2007 height is just not going to happen, and they’re taking the decision to go and sell, which has maybe skewed the figures slightly. Up until mid-July, we were going along really well. The end of July through August was appalling – the worst we had ever seen in some of Scotland.”

ukcarper wrote: »

I bet a lot of people will just leave their house on at the same price and ignore low offers.

In many instances sellers have been doing that during the last 36 months as evidenced by such a fall in monthly transactions. However some sellers are able, and increasingly willing to drop their prices to sell. Recently on a thread elsewhere I read a buyer told 2 EAs with houses on the market at around the £1,150,000 mark, which had both reduced their asking prices to £975,000 that his final offer was £900,000 and he'd go with the first seller to accept. One seller tried to negotiate him up, but failed. And both accepted the £900K offer. Other sellers may have refused to do so, but their refusal matters little on the indexes for house prices. All that matters for the indexes is actual transactions, the prices transacted at. From that they determine the falls, or the rises (if transaction higher than previous month), each month. And breathe.

borntobefree

I sold a flat in 1993 for £500 less than I paid for it in 1987. I was happy to do that as my wife was pregnant and we needed to move on. (We also bought a house at rock bottom pricesin 1993).

If you need to move, you will price to sell.

Dirk_Rambo

sarkin1 wrote: »

http://www.lloydsbankinggroup.com/media/pdfs/research/2010/HousePriceIndexSeptember2010.pdf

OMG
!!!!!!

look how many thanx your post got. well done

Cleaver

neverdespairgirl wrote: »

I'm on page 12 - have I lost 12?

Maybe your screen is twice the size of mine?

dopester

Cleaver wrote: »

Maybe your screen is twice the size of mine?

Cleaver you might be unnecessarily over-clicking on your mouse to open new pages in discussions, if you've got the number of posts to display at below default.

User CP (link in top across page bar)

Edit Options (left hand side of the page)

Number of Posts to Show Per Page Use this option to set the number of posts to show in a thread before splitting the display into multiple pages.
Number of Posts to Show Per Page: Use Forum Default

Mine is set to Use Forum Default but you can choose options to display between 5 posts and 40 posts per page.

madnessofBruno

GHOULES_ARE_BACK_IN_TOWN wrote: »

Forex saod +0.6% for september so stop doom mongering.

You have been busy Bruno with your scibbles. Was your carer late last night to tuck you in.
How about you going back to your creative videos, they were comedy gold?