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Debate House Prices
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Halifax Hpi September 2010 -3.6%
Comments
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Props to Really2 for chiming in on this thread. It just shows how screwed the market is, didn't Halifax post a positive last month ? How can you post a positive then a negative of this magnitude the very next month ?
One thing I was right on is that low IRs, SLS, along with low transactions and banks not repossessing are barely keeping the prices at current levels.
Without these policies prices would almost certainly fall back to year 2001 levels.
At average earnings of 25k, average house prices will fall to around 100k. This level is compatable with property values related to income levels before the poor lending prictices that led to the financial crisis replaced the more responsible lending that went before. Imo however this needs to be managed at around 10% a year giving falls of between 30 and 40% by 2013/14.0 -
Halifax looks like it will be around - 4% --5% negative for 2010 (within my forecast)
Nationwide 0% - +2% positive. (within my forecast)
You would think people would have learnt not to get to carried away with a months data by now.
It is a huge percentage to be sure.
Where's the arguments on transaction levels etc
Interestingly though, many of us had predicted a stagnant year for 2010.
Even with this 3.6% monthly drop the Annual change is still 2.6%.
Looks like many of us will proove our predictions to be correct againUK House prices
SEPTEMBER 2010 (seasonally adjusted)
Annual change
2.6%
Quarterly change
-0.9%
Monthly change
-3.6%
Average Price
£162,096:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
You guys should stop getting too excited and work out how you are going to get your deposit up to 40% in the short term to actually take advantage of the current market.
Already worked out, here.
But I'm not going to get too excited about 1 month's drop, although it's a large one....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 -
Props to Really2 for chiming in on this thread. It just shows how screwed the market is, didn't Halifax post a positive last month ? How can you post a positive then a negative of this magnitude the very next month ?
One thing I was right on is that low IRs, SLS, along with low transactions and banks not repossessing are barely keeping the prices at current levels.
Without these policies prices would almost certainly fall back to year 2001 levels.
I don't agree with this i'm afraid - I believe there are long term trends in the UK for HPI (albeit more moderately than before the sub-prime fallout) due to an ongoing lack of supply and increased demand from population increases and greater single occupancy.
I expect this year to be fairly stagnant however.0 -
LOL - I don't invest that much emotion in these things, unlike some.
Yeh, yourself and chucky I tend to think of as moderate posters. It's always difficult to post in threads like this if your opposite view point is too extreme.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
PMSL.
I dunno what's going on. Record breaking falls?! Jesus.
All I know is......thats huge!! Doesn't correlate with anything, but it is huge, and I'm damn well going to enjoy the smug feeling
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You guys should stop getting too excited and work out how you are going to get your deposit up to 40% in the short term to actually take advantage of the current market.
Not a problem. Already there and then some.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
It's a big drop. But this index was postive last month, so I'm not sure we're all doomed yet.
I'll wait and see what happens in future months with other indices before I'm sure either way.
As usual, this index is proof to one side of the debate and propaganda to the other.Set your goals high, and don't stop till you get there.
Bo Jackson0
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