MSE News: Halifax - House prices 'lack direction'

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

"The mortgage lender says the property market continues to lack direction after a second successive month of lower prices ..."

Replies

  • Not that the index means much, but i would say the minus sign in front of the 0.5% indidcates direction.
  • brit1234brit1234 Forumite
    5.4K Posts
    Lack of direction? :rotfl:

    No its clearly continuing to fall. Good news for us first time buys waiting for house prices to become affordable again. More falls coming with the economic situation unable to support over valued housing.

    home-prices6.jpg
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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  • Lack direction?

    I don't think they've hit the floor yet!:rotfl:

    With the Euro about to implode and triple dip recession beckoning... :D What do Halifax think is going to happen?
  • And Quantative easing still diluting the £ and $ could be investing some of your money in Swiss or chinese currency could prove a good move.
  • firsttimetomfirsttimetom Forumite
    298 Posts
    Part of the Furniture 100 Posts Combo Breaker
    ✭✭
    Lack of direction?

    They may only be a little bit down but the are going down.

    Try walking a little bit south and see what direction you are going - south.
  • anselldanselld Forumite
    7.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Yawn.
    Should this followup not be in the House Price forum?
  • brit1234brit1234 Forumite
    5.4K Posts
    I think next month will be the month when sellers realise we are in for a prolonged house price falls. With the Greek default coming and economic news constantly front page of the news sentiment is turning against overvalued property.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • PincherPincher
    6.6K Posts
    ✭✭✭✭
    Good houses in good locations are just not put on the market,
    so the sales are probably the not so good ones in the same area, which drags down the average.

    A neighbour got a perfectly decent offer, more than I thought his house is worth, in fact; but he wanted more, so rented it out instead. Found tenants in no time at all.

    In my area, rental demand is incredibly strong. You just have to look in the newsagent's window to see what the market is like. There are people who ring up all the ads so they can get a cut introducing tenants.
  • Pincher wrote: »
    Good houses in good locations are just not put on the market,
    so the sales are probably the not so good ones in the same area, which drags down the average.

    I just searched RM for 3 bed properties in NW1 >£1million. 148 properties found.
    Good houses/good location

    So you're wrong. In fact the opposite is probably true. High value Zone 1 transactions are propping up the London market and masking falls elsewhere in the capital.
  • nembotnembot Forumite
    1.2K Posts
    In visual terms... here's the market :)

    Hanging+off+a+cliff.jpg
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