House prices fall for 15th month in a row

Graham_Devon

Further evidence of a double dip in the housing market is published today in a survey by property data specialist Hometrack, which revealed that prices fell by 0.1% in September, the 15th consecutive month of price falls.

A sharp fall in the number of new buyers, down 2.6% on the month, and a rise in the gap between asking prices and actual sale prices, point to a deepening recession in the market, Hometrack said.

"As the gap between supply and demand widens, we are likely to see an acceleration in the level of price falls as we head towards the end of the year," said research director Richard Donnell, who forecast that falls will be heaviest in the north and north-east.

The brief recovery that began in mid-2009, largely in London and the south-east, has petered out and nearly all the house price indicators are now showing an increasingly distressed market.

http://www.guardian.co.uk/money/2011/oct/03/property-house-prices-fall

I've highlighted the important bits.

Probably best read with a refreshing drink. Or depending on your persuassion, a fresh squeeze of lemon and lime

Lots more information in the report, including asking price achievements falling back, property sat on market for longer,

Also, it appears that "most" econmists are now suggesting prices over the next year will remain static or fall.

However sellers are predicting a near 3% increase in house prices. The head in sand mentality shows no signs of falling back.

Idiophreak

*yawn*

That's all I have to say about that.

Pimperne1

Sound of a barrel being scraped.

IveSeenTheLight

Graham_Devon wrote: »

http://www.guardian.co.uk/money/2011/oct/03/property-house-prices-fall

I've highlighted the important bits.

Probably best read with a refreshing drink. Or depending on your persuassion, a fresh squeeze of lemon and lime

Lots more information in the report, including asking price achievements falling back, property sat on market for longer,

Also, it appears that "most" econmists are now suggesting prices over the next year will remain static or fall.

However sellers are predicting a near 3% increase in house prices. The head in sand mentality shows no signs of falling back.

The report loses a lot of credit when it tries to claim that there have been 15 months of cosecutive falls.

Also in the article is: -

The Land Registry, which holds the most complete record of property price data, reported a 0.3% decline in August, reversing a rise in July. Nationwide said last week that prices rose by 0.1% in September, but its three-month-on-three-month figures, generally considered a better indication of trends, have remained static.

Quite clearly property has not declined for 15 consecutive months

For anyone interested, here is the direct link
http://www.hometrack.co.uk/commentary-and-analysis/house-price-survey/20110829.cfm

Graham_Devon

Slow down, I can't slice the lemons that quick

Graham_Devon

I do like this by the way...

A survey by Zoopla, a property search engine, found that homeowners are predicting a 2.7% gain in house prices in their area over the next year, but 3.3% gain for their home

Graham_Devon

IveSeenTheLight wrote: »

The report loses a lot of credit when it tries to claim that there have been 15 months of cosecutive falls.

Also in the article is: -



Quite clearly property has not declined for 15 consecutive months

For anyone interested, here is the direct link
http://www.hometrack.co.uk/commentary-and-analysis/house-price-survey/20110829.cfm

It doesn't actually try to say that though does it.

It is talking about the Hometrak figures.

Blacklight

Now is clearly the time to buy.

IveSeenTheLight

Graham_Devon wrote: »

I do like this by the way...

Zoopla lol, no wonder you like it

IveSeenTheLight

Graham_Devon wrote: »

It doesn't actually try to say that though does it.

It is talking about the Hometrak figures.

It's a report based on hometrack figures and the hometrack figures are obviously disputable given all the other indexes.

Looking at th elast three months their all -0.1%. I'm wondering if that part of the table has not been updated

Really2

Graham_Devon wrote: »

It doesn't actually try to say that though does it.

It is talking about the Hometrak figures.

Is the 0.0% change in April 2011 a fall, or are we just looking on Desperation Street?

House prices were unchanged this month. This is the first time for nine months (since June 2010) that the survey has recorded no price fall.

Lazy jurno.