Rightmove.. Asking prices fell 1.7%, down £4,138,

thor

chucknorris wrote: »

The property sheep IMO are the ones that don't realise that the property market is cyclical, i.e. during boom times they think that prices will always rise and during bust times they think it will always fall.

The property market is cyclical only until it isn't. Nobody can tell me that they can predict with 100% accuracy prices will always rise or fall. Who is to say that prices don't stay at these levels or less for the next 100 years. Nothing can be taken for granted.

ruggedtoast

They are celebrating this news over on hpc.co.uk. They are excited!

IveSeenTheLight

Ronnie_Grimes wrote: »

well it's pretty obvious that if asking prices drop then sale prices will drop too and boy did they drop I bet the Guys on HPC are celebrating :beer:.
As for prices just wait a few months that will change.;) and did I not say asking prices in the previous post? correction corrected.

You said "Back to house falls".
The latest stats shows they are not falling

IveSeenTheLight

thor wrote: »

The property market is cyclical only until it isn't. Nobody can tell me that they can predict with 100% accuracy prices will always rise or fall. Who is to say that prices don't stay at these levels or less for the next 100 years. Nothing can be taken for granted.

Of course, there's always a chance that prices could stay the same for more or less 100 years.

Assuming were talking nominally, the data suggests this is just not possibleas a result of current population increases and building completions / convertions.

Therefore given the known data, the natural prediction isthat over the long term, house prices will increase.

To achieve 100 years of nominal house price stagnation, you would need property building to exceed new household requirements in order to replace properties that become derelict.

RenovationMan

Ronnie_Grimes wrote: »

Wasn't me that mentioned gold but:

Gold price rise in gbp

2008 43.2%
2009 12.7%
2010 34.%
2011 10.5%
2012 1.4% (and its only July, Annual bullish period dead ahead)

:rotfl:

:spam: Reported.

RenovationMan

While asking prices are not sales prices, they are an indicator of he way the market is going. Whether home owners should care so much about house prices is another matter, unless of course thay are moving up the ladder and so falling house prices will help them get up a rung or two.

What should be concerning home owners is the price they are paying on a monthly basis, not some notional figure about their house value.

homelessskilledworker

RenovationMan wrote: »

While asking prices are not sales prices, they are an indicator of he way the market is going. Whether home owners should care so much about house prices is another matter, unless of course thay are moving up the ladder and so falling house prices will help them get up a rung or two.

What should be concerning home owners is the price they are paying on a monthly basis, not some notional figure about their house value.

And here is evidence of why the UK is in the mess it is, buying goods on the never never without any concern of the capital payment.

wotsthat

RenovationMan wrote: »

What should be concerning home owners is the price they are paying on a monthly basis, not some notional figure about their house value.

I agree but talking about affordability on here is sometimes treated as heresy.

House prices matter when you buy, sell or refinance. Over my lifetime there probably won't be more than a handful of times when when the value of my house really matters.

Mortgage payments, maintenance and running costs - they matter every month.

chucknorris

thor wrote: »

The property market is cyclical only until it isn't. Nobody can tell me that they can predict with 100% accuracy prices will always rise or fall. Who is to say that prices don't stay at these levels or less for the next 100 years. Nothing can be taken for granted.

Of course nothing can be taken for granted but in order to make intelligent decisions you have to balance the probabilities and take a chance. I don't think you will get very far always fearing the worst, you should certainly prepare for disaster, but not base your decisions on such unlikely events.

chucknorris

RenovationMan wrote: »

What should be concerning home owners is the price they are paying on a monthly basis, not some notional figure about their house value.

Absolutely, and similarly investors should concern themselves with annual profits rather than the current value of their property, the value is only relevant at the point of selling. The current low interest rates are boosting my annual profits by approx 2% of the my properties value, so there is no need to be over concerned about what property values currently are.