MSE News: House prices fell in November – just

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This is the discussion thread for the following MSE News Story:

"Values dropped by 0.1% but the market may be stabilising, mortgage lender Halifax said today ..."

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  • CloudCuckooLand
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    -2.1% over 3 months, and gathering pace...good news FTBs.
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
  • Lynsey
    Lynsey Posts: 9,486 Forumite
    I've been Money Tipped!
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    Dropped by 0.1% - seems to be stable then. I'm more interested in local variations rather than in general.
    I'm an optimist and see prices rising next year, but still nowhere near their peaks (in most areas anyway).

    New builds seem a lot cheaper now in my area and are selling well it seems (sold notices in the windows) and plenty of offers/incentives available.
    When the new build prices start rising it should give the rest a boost - fingers crossed.

    Lynsey
    **** Sealed Pot Challenge - Member #96 ****
    No. 9 target £600 - :staradmin (x21)
    No. 6 Total £740.00 - No. 7 £1000.00 - No. 8 £875.00 - No. 9 £700.00 (target met)
  • Henry_P_Chester
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    Im an optimist and see house prices falling further throughout next year. Maybe my nephew in his 20s will be able to buy at some point.
    Debt Is Slavery.
  • Lynsey
    Lynsey Posts: 9,486 Forumite
    I've been Money Tipped!
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    How much do you think they will fall Henry?? I understand the view regarding your nephew and deposits will be the biggee for me, they seem to be tightening up the rules and next year might be harder for 1st time buyers.
    I've seen some tremendous bargains in my area, some almost 50% off their peaks (mainly leasehold blocks of modern flats which were built and sold at their peak at silly prices).
    We've just bought a couple of houses these last few months to rent out and were flabbergasted at the prices accepted. I/we think it's bottomed out in our area and is a good time to jump in. Any further falls would be minimal (hopefully), hence buying now after watching for a while.

    Lynsey
    **** Sealed Pot Challenge - Member #96 ****
    No. 9 target £600 - :staradmin (x21)
    No. 6 Total £740.00 - No. 7 £1000.00 - No. 8 £875.00 - No. 9 £700.00 (target met)
  • brit1234
    brit1234 Posts: 5,385 Forumite
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    Its clear house prices will continue to fall and have a long way to go yet. After all house prices are extremely overinflated on a traditional basis, all caused by the boom in mortgage fraud, loose lending and too low interest rates.

    There is going to be at least another 20-30% falls to come.

    Inflation is high, unemployment set to rise, higher taxes including student fees and then their is the continue collapse of international governments finances as well as their banks.

    Any one thinking of buying hold off. Watch month prices come down and it gives you chance to save a higher deposit to next bracket ie 25% saving you more.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
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