Halifax... Down -2.4% for April

ruggedtoast

This is a million page thread over in the other place. They are excited, here, not so much.

Graham_Devon

guitarman001 wrote: »

BDEV and TW are TANKING today...

Everything is tanking today - presuambly either someone farted in the eurozone or business is pretty scared of the possibility of having a french PM standing up for the little man.

Not that he will of course, when he gets in power, but hey ho, seems business and investors are scared of him.

Noted on the investment board for Taylor Wimpey however that even investors today are realising that high house prices may just be a problem. Abuse ahoy of course.

Graham_Devon

I've just read house prices, according to the halifax are now £40,000 down from peak. Back to levels seen in 2004. Have lost £10,000 since the peak in April 2010.

Of economists panelled, more felt that house prices had further to fall this year, than those who thought they would stay stangnant or rise.

However, for houseowners themselves, double the amount of people think prices will rise over the next 12m, than those homeowners who think prices will fall.

My personal feeling is that we have moved from:
- Property prices always rise
- It's a blip
- Get in now or you will miss the boat
- I'm saving a fortune on my mortgage, you missed the boat
- Renting is dead money, buy now
- Prices will just stagnate

all the way through to:

- We won't give them away.

homelessskilledworker

Graham_Devon wrote: »

I've just read house prices, according to the halifax are now £40,000 down from peak. Back to levels seen in 2004. Have lost £10,000 since the peak in April 2010.

Of economists panelled, more felt that house prices had further to fall this year, than those who thought they would stay stangnant or rise.

However, for houseowners themselves, double the amount of people think prices will rise over the next 12m, than those homeowners who think prices will fall.

My personal feeling is that we have moved from:
- Property prices always rise
- It's a blip
- Get in now or you will miss the boat
- I'm saving a fortune on my mortgage, you missed the boat
- Renting is dead money, buy now
- Prices will just stagnate

all the way through to:

- We won't give them away.

Made the point myself earlier that price had dropped £40,000 for an average property(20%) in the last 4 years, more if you measure it in real terms, went very quite for some reason:)

Another thing that gets overlooked is that many properties that are sat on the market are dropping their prices substantially, yet they will not be showing up in the figures just year.

In my usual search in my area I noticed three properties that had dropped quite a bit in the last week.

SteveV2

Big fall this month, big rise last month..

You can be assured that it will be up next month.

myhouse_2

-0.5% annual decrease is not a big deal. What is a big deal though is that prices are still decreasing despite the govt and BoE intervention including QE and most importantly IRs. If base rate goes up even 2% there will be carnage in the market.
It's pretty clear what is going to happen, just not so clear when.

mcc100

RenovationMan wrote: »

"The monthly figures continue to fluctuate quite widely with a 2.4%
decline in April, wiping out March's 2.2% rise."

So a 0.2% drop over the last 2 months. I never cease to be amazed at the robustness of property, even in these trying times.

It's hardly rocket science ......... record low interest rates for over three years are a major factor in sustaining high house prices.

chucky

mcc100 wrote: »

It's hardly rocket science ......... record low interest rates for over three years are a major factor in sustaining high house prices.

Yes you're right. Mortgage rates are at record lows, only in Lala Land of course.

mcc100

chucky wrote: »

Yes you're right. Mortgage rates are at record lows, no wait.

I'm waiting ......

chucky

mcc100 wrote: »

I'm waiting ......

I'm waiting to see these record low mortgage rates that everyone is on.