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

RenovationMan

joguest wrote: »

I'm waiting to buy (a larger house - quite happy sitting here mortgage free for the time being) and I personally know many people with very substantial deposits who are quite happy renting at the moment. So yes, people are striking, based on my own anecdotal evidence. Also, I'm seeing many houses being sold for much less than the percentage fall the indexes are suggesting.

Hundreds of thousands of potential vendors have delayed selling their houses over the last couple of years in the mistaken belief that prices would recover. That's a lot of pent-up supply.

It seems that there is also a lot of pent-up demand too.

geneer

Strange. Hamish's internet connection appears to be down. :rotfl::rotfl::rotfl:

wotsthat wrote: »

No problem.
Would you admit then that a person who wanted to buy in December 2004 should have done so instead of holding off waiting for a crash?

Ah the Timing Game. How highly original.

joguest

No, like this one:

Really2

joguest wrote: »

IAlso, I'm seeing many houses being sold for much less than the percentage fall the indexes are suggesting.

Also ones that sell more than the indexes suggest, is it a conspiracy or how averages work.:)

wotsthat

geneer wrote: »

Ah the Timing Game. How highly original.

I'm sorry I don't know what you are talking about. I find it so much simpler to understand you when you post those nice cartoons (the quality of which would shame a pre-schooler).

Really2

joguest wrote: »

No, like this one:

percentages off peak prices from 2007, almost relevent.

Abracadabra.


we can do this all day, but however you look at it prices are not crashing, their are some small falls (bigger on the halifax but so are the gains)

The_Fox_3

wotsthat wrote: »

No problem.

Would you admit then that a person who wanted to buy in December 2004 should have done so instead of holding off waiting for a crash?

If they purchased then with a mortgage they'd have paid off around £24,000 by now. We'd need to see falls of another 15% before they'd even be in negative equity.

They could have rented I suppose and paid the landlords mortgage instead.

Hi again wotsthat

I really don't know, apart from anything else it seems like a long time to wait if it's your OWN home that you are after no matter what the circumstances. It also depends on the person, if someone is flexible and would sooner be focusing on other aspects of his life than i can understand the attraction of waiting and not be loaded down with debt. If i had to give you an answer one way or the other, i would say that waiting that long is really not that healthy. But are there people who have had no choice, are there people who did buy in 2004 and regret it today(and i know there are).

With me personally i would sooner be buying today, and part of me thinks to hell with whatever property prices do. But right now i am sitting on the sidelines and for as long as we keep getting the falls we have had recently then i am saving £2000/£3000 pounds a month. Am i playing the market, NO, because i still have no idea whats going to happen, but at the moment it is working in my favour through pure luck.

Really2

joguest wrote: »

The Halifax and Nationwide indexes do not include cash purchases, so they are an incomplete picture of the whole market. The LR data is not as current (approximately 3 month time lag) as the other two. The recent selling prices I have seen locally may well not be included in the Halifax/Nationwide and definitely won't have been included in the LR data yet.

It is less than 2 months now. Last data was Nov 2010 that came out 30th Dec.

I hate to point out your area is not likely to be exactly the same as the UK average.

Unless you are trying to say all the data is manipulated and all the data is invalid you have to accept how a average is worked out.

Graham_Devon

Really2 wrote: »

we can do this all day, but however you look at it prices are not crashing, their are some small falls (bigger on the halifax but so are the gains)

If you stick to the index people are actually discussing, it does kinda help...though doesn't help you show stagnation, I agree.

Another day, another stagnation argument.

StevieJ

joguest wrote: »

Hundreds of thousands of potential vendors have delayed selling their houses over the last couple of years in the mistaken belief that prices would recover. That's a lot of pent-up supply.

And demand.