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MSE News: House prices down 4.2% over the year
Former_MSE_Guy
Former MSE 1.7K Posts
This is the discussion thread for the following MSE News Story:
"House prices fell at their fastest annual rate for 19 months during May as buyers continued to stay away from the market ..."
"House prices fell at their fastest annual rate for 19 months during May as buyers continued to stay away from the market ..."
Read the full story:
Halifax: house prices down 4.2% over the year
This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.
Halifax: house prices down 4.2% over the year
This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.
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http://www.moneysavingexpert.com/news/mortgages/2011/05/halifax-house-prices-fell-during-april (down)
http://www.moneysavingexpert.com/news/mortgages/2010/03/nationwide-house-prices-creep-up-07-in-march (up)
http://www.moneysavingexpert.com/news/mortgages/2010/02/first-house-price-fall-in-10-months (down)
http://www.moneysavingexpert.com/news/mortgages/2011/02/halifax-house-prices-rose-in-january (up)
Even Shared equity/ownership scams are failing to keep the housing bubble inflated.
We may have an occasional positive house price figure in the next months figures but after that I expect a continual fall for the rest of the year with the exception of Octobers figures.
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Except of course, that unlike your signatures claims, they are currently all rising.
Halifax +0.1%
Land Registry +0.8%
Nationwide +0.3%
And not just seasonal rises, that's from seasonally adjusted indices so they're rising by MORE than would be expected at this time of year.:D
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
The housing market will eventually dry up unless there are price drops because the majority of house sales at the moment are cash buys.
Except of course, that the house price crash is what caused the recession and associated redundancies to begin with.
So not really such "good news" after all.
House prices led the economy into recession, and we won't see a strong recovery until they start rising meaningfully again.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
False.
Current volume of sales around 65K per month, and mortgage approvals around 45K per month.
Far from being a majority, only around a third of sales are to cash buyers.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Nice to see you have a sense of humour after all Hamish. That's a good one.
Yes sorry it's not a majority over all. But in the South East and London it is looking like cash buyers are in the majority. http://www.bbc.co.uk/news/business-13116262
Interesting that. The main place where house prices are continuing to rise is where there is a majority of cash buyers. :shocked: