Halifax December 2010 MoM -1.3% QoQ -0.9% YoY -1.6%

The_Fox_3

Not sure if it has been mentioned already but prices are now back to 2004 levels, for those investors entering the market back then in the hope of making a fast back must be a little dissapointed:), all that stress and "hard work" as well.

If prices get any close to 2000 levels there will be lorry loads of landlords queing up at Beachy Head,:rotfl:Now would'nt that be a shame

FTBFun

Graham_Devon wrote: »

Tell me about it!

Just who ARE these fools who live on a 23k salary a year and don't actually go on holiday.

You are right. It's just not reality.

:doh:

£1500 take home per month is about £29.5k.

I'm not suggesting city breaks every weekend followed by two weeks in the Maldives in the summer, you know. Just that those figures were a little tight.

Regular travel was missing, for starters.

wotsthat

The_Fox wrote: »

Not sure if it has been mentioned already but prices are now back to 2004 levels....,

Only if you struggle with checking data before making a statement.

The_Fox_3

wotsthat wrote: »

Only if you struggle with checking data before making a statement.

Or If you rush to counter an argument before checking yourself, look back at December 2004 Halifax data. £162,200

wotsthat

The_Fox wrote: »

Or If you rush to counter an argument before checking yourself, look back at December 2004 Halifax data. £162,200

Frick! I did check against the quarterly figures and misread them. (Lowers head and takes the shame).

Really2

The_Fox wrote: »

Or If you rush to counter an argument before checking yourself, look back at December 2004 Halifax data. £162,200

Well likewise you could still say they are a bit less than Jan 09 but higher than Dec 08.

Or the same as May 05.

They have to fall another £8K on this index to be as low as April 2009 the most recent low.

Isolated months can make interesting reading either way.

chucky

The_Fox wrote: »

Not that these monthly figures mean that much alone

true, they probably don't mean very much if you ignore any month that has risen and just look at the negative months.

The_Fox wrote: »

And this is all happening when interest rates are at records lows

mortgage rates are at record lows - in which country??

The_Fox wrote: »

you would have to be a muppet not to acknowledge the fact.

of course, anyone else with a different view to yours is wrong.
you are able to predict the future like all of the other HPC numpties who consistently get it wrong.

The_Fox wrote: »

i don't think anyone with any honesty can be certain, the falls will be anything from -15% to -50%.

good luck with your future telling skills - i'm sure the travelling circus you're with pay you very well :T

joguest

Generali wrote: »

Generali says:

- Actual nominal year on year change is down 2.8%

You're looking at the seasonally adjusted figures. If you look at the actual nominal series from the Halifax, prices are down 3.4% when comparing Dec 2010 with Dec 2009. Their press release states this.

The year-on-year figure is fairly meaningless when looked at on its own - if you plot out the trends in the indexes (I tried to insert a nice graph to illustrate, but it won't let me) it's obvious that prices have been sliding for the last half of the year.

The stagnation argument is absurd as it involves looking at the sum of a rise in the first half of the year as well as the period of subsequent falls. It is obvious we are in a falling market and what is particularly telling is the fact that the last six months of falls mirror almost exactly the first six months of falls begninning in Autumn 2007. After that first six month period, prices fell at a faster rate for a period of around 10 months. We are now at the same point in the cycle, so there is a very high probability of significant falls this year (>10%). This is supported by the fundamental fundamental - the credit bubble, followed by a return to sensible credit conditions.

The reinforcing behaviour of buyers delaying purchasing is about to start again big time imho - until the next wave of suckers decides to jump in - I suspect the major indexes will be showing falls of around 25-30% from the 2007 peak by then. Of course, it all depends on local market as to whether it's a good time to buy. A house in my street sold for 40% less than peak in November - with a gross yield of around 9% it's almost beginning to look tempting, but not just yet.

RenovationMan

The_Fox wrote: »

Not sure if it has been mentioned already but prices are now back to 2004 levels

That fact is probably only relevent for those people who were in a position to buy a house in 2004 and decided against it, thinking that prices were going to fall. Its therefore a sad fact that these people could now be approaching their 6th year of waiting to buy a house.

An example of why its much better to work within the reality of an existing market than to sit on the sidelines and wait for a free market to match your own arbitrary criteria.

The_Fox_3

wotsthat wrote: »

Frick! I did check against the quarterly figures and misread them. (Lowers head and takes the shame).

Thank you for being big enough to admit you was wrong:), many others on here would not