Land Registry -0.3% MoM, -2.6% YoY

chewmylegoff

Aberdeenangarse wrote: »

If your salary was reduced by 0.3% would you say it had dropped or was stagnant?

i'd say it was reducing by close to 10% per annum in real terms, and that by next tuesday i should be able to buy a 6 bedroom detached house with 50 ounces of silver.

JonnyBravo

Rinoa wrote: »

Nationwide is currently showing a 0.3% fall YoY. I consider that to be a flat/stagnant market.

Add in inflation and it's still flat?
No.
It's slowly declining.
You saying it's flat doesn't make it flat.
Equally, of course, brit saying it'll be down 50% by Christmas also doesn't mean it'll happen eh brit?

adwat

joguest wrote: »

... It's only the desperately indebted and those close to downsizing in old age that want prices to rise.

Your faith in the human condition gives me a warm glowing feeling, but I think you're a little self deluded...:rotfl:

joguest

adwat wrote: »

Your faith in the human condition gives me a warm glowing feeling, but I think you're a little self deluded...:rotfl:

Eh?? What?

I gave anecdotal evidence of someone with two mortgages (me and my missus) who are more than happy to see prices fall. How is that delusional? and what's faith in human nature got to do with it??

Unless, by deluded, you mean that I forgot to include buy-to-let speculators in the list - but even then there are some slumlords who want prices to fall so they can increase their holding.

Pimperne1

joguest wrote: »

We've got two mortgages (with 99% and 60% equity at today's prices). I'd be more than happy if prices fell 90% - we could sell our first house and buy one worth five times as much with cash. It's only the desperately indebted and those close to downsizing in old age that want prices to rise.

Careful Jo, a bit of self interest creeping in there.

Thrugelmir

Rinoa wrote: »

If you like, a tad pedantic i would suggest though. And when comparing transactions LR only compare up to July. Mortgage approvals have increased markedly this past few months.

Mortgage approvals hit a 3 month low in September.

http://www.guardian.co.uk/business/2011/oct/25/mortgage-approvals-fall-three-month-low?newsfeed=true

Rinoa

Thrugelmir wrote: »

Mortgage approvals hit a 3 month low in September.

http://www.guardian.co.uk/business/2011/oct/25/mortgage-approvals-fall-three-month-low?newsfeed=true

That's only banks, data doesn't include Building Societies, probably doesn't include BTL, and is not seasonally adjusted.

joguest

Pimperne1 wrote: »

Careful Jo, a bit of self interest creeping in there.

Everyone's got self-interest. I don't mind admitting that falling prices mean that it'll cost less to increase our holding of property. The same's true for first-time buyers. The same's true for buy-to-letters that want to expand (and can take the equity hit). It's those with little equity or those that want to downsize that need to worry about falling prices.

ukcarper

joguest wrote: »

We've got two mortgages (with 99% and 60% equity at today's prices). I'd be more than happy if prices fell 90% - we could sell our first house and buy one worth five times as much with cash. It's only the desperately indebted and those close to downsizing in old age that want prices to rise.

I'm not sure that's right I have thought about downsizing but I am quite happy for property to stagnate and fall in real terms because that won’t have a detrimental effect on people who have low equity.

the_flying_pig

The North East taking a hammering. Good news for young folk up there.