MSE News: Nationwide: house prices continue to drop

JonnyBravo

ukcarper wrote: »

Rather reminiscent of you not to look at this board before you boarded.

You're not mates with Melissa Cohen are you?

Blacklight

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again. Perhaps interest rate rises and higher mortgage costs will weed them out.

Graham_Devon

Blacklight wrote: »

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again. Perhaps interest rate rises and higher mortgage costs will weed them out.

I'm selling "grips" at a bargain price if you would like to get one. We can probably sort out a deal.

Call me.

de1amo

on the point of quantative easing--wasnt that what happened to the German ecconomy between the wars--hyper inflation followed and foreign currency could buy anything for nothing--sounds a bit like what is happening to me!--houses are homes to live in and to me 'float' with the trends--its the speculators who are baseing their pensions on the housing market who should be worried!

Graham_Devon

A pretty picture...

joguest

Blacklight wrote: »

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again. Perhaps interest rate rises and higher mortgage costs will weed them out.

That doesn't make sense. If the less-forced-sellers take their house off the market then the proportion of the more-forced-sellers increases within the smaller transaction volumes and helps sustain further price falls.

That's exactly what happened last time as prices started dropping in late 2007 - transaction volumes kept dropping as prices kept dropping. You need to remember that nobody in the right mind buys a house as prices are falling. Buyers (if they are unforced) tend to wait until they think a bottom has been reached. We are still waiting to see if the buyers that bought at the bottom in 2009 bought into a sucker's rally, but to be honest it's only a matter of time before that's proved correct by prices falling below that level.

de1amo

i'd like to see the same picture covering a longer span going back to 1980 which shows what has happened in the years since Mrs T made the masses 'home-owners'

FTBFun

brit1234 wrote: »

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.

No it isn't.

"A property located in Greater London which was valued at £200000 in Q2 of 2010, would be worth approximately £202297 in Q3 of 2010."

(I appreciate these are quarterly figures but I can't get the monthly ones up)

Blacklight

Graham_Devon wrote: »

A pretty picture...

And every time you post it someone has to take their turn to explain to you what it shows.

doire_2

Good news again