MSE News: Nationwide: house prices continue to drop

JonnyBravo

Blacklight wrote: »

Having read the whole Q3 report there's not a lot of real news in it.
.....

All together it points to stagnation.

Yeah sure.
Drops to continue through the winter. Spring 2011, haven't a clue.

knightfox

To be honest I feel that the interest Rate rises are going to have a more damaging effort on the house prices than anything that the gov have outlined.

My only exception is Oxford which seems to have a large Public Sector workforce. Although I havent looked into what sector they are, so they could well be okay. There are some important hospitals which may be okay.

But as some familes are in difficulties then the interest rate rises are only going to make matters more difficult. Banks wont lend as much. So house prices falls.

With Interest Rates so low a 0.5% increase is in fact Double.

brit1234

LauraW10 wrote: »

Useless Tories - they should have supported the housing market

They are supporting first time buyers and healthy econonomy, why should they support an unhealthy housing bubble stopping future generations buy.

The housing minister was on top form last night on Newsnight. It shows they actually understand housing issues (shock suprise).

The nationwide figures are great news, that about anothe £1,500 saving for me this month. Roll on the prices falls back to normal levels.

torontoboy45

Really2 wrote: »

1.4% to go in the next two months and I would say that my 2010 prediction will be pretty much spot on.
More spot on than I could have predicted.:D (but TBF I think LR is the one to judge it on)

the LR figure is out this morning (11am?). allowing for its lack of precision it's the only one that really matters, IMO (and even then Y-O-Y).

gen will be along shortly to remind us all about 'noise' levels.

knightfox

Blacklight wrote: »

Having read the whole Q3 report there's not a lot of real news in it. House prices for England are 0.5% down in the quarter over all and 6.1% up on a year ago.

London house prices are still rising.

Prices in NI are on the increase again following a prolonged period of falls.

Still 10% more to fall to get to the losses recorded during the recession and 'credit crunch'.

All together it points to stagnation.

London house prices are still rising as foreigner investment will cause this. They purchase as an investment or to stay for work.

JonnyBravo

torontoboy45 wrote: »

gen will be along shortly to remind us all about 'noise' levels.

Sure, but its equally important to talk about sentiment and it's pretty clear where that is headed at the moment.

knightfox

LauraW10 wrote: »

Useless Tories - they should have supported the housing market

Instead of what the labour party did. Party on the profits of people over extending themselves and taking on debt they should never have touched. Allowing banks to give loans to people that could not pay it back. Taking the profits from banks and spending more money then they had as if the good times where never going to end. They never for one minute invested the banks taxes on good things. Instead they packed themselves on the back saying how wonderfull they were.

Then the credit eneded. You can a person / company / country only have so much credit or debt. It wa going to end.

Then they attacked the banks saying it was their fault. What was Gordon Brown doing.

We need to redress the situation. Thats what is happening. Its going to be painful a bit like the headache the morning after. But it will be okay in the end.

setmefree2

knightfox wrote: »

But it will be okay in the end.

Indeed it will because there will be a big in 2011.:D

neas

not as big of a drop as i was expecting to be honest. With Halifax's shock 3. odd percent i was expecting 2%+. Still fall is good for all .

JonnyBravo

Dirk_Rambo wrote: »

[/LIST]they fell bye a lot more than that round my way last month

I'm surprised there's anyone left around your area Dirk. Your "humour" should have driven them off long ago.