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MSE News: House prices fell in July

Former_MSE_Helen
Posts: 2,382 Forumite
"House prices have fallen for the first time in seven months, says property analyst Hometrack..."
Read the full story:
House prices fell in July

This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.
House prices fell in July

This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.
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Comments
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Why is house prices rising a good thing , when it makes the people who have them richer and stopping people like me getting onto the housing market.0
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Why did MSE create the Debate House Prices & the Economy board if they are going to put house price articles on this one?0
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I ignore Hometrack figures as well as Rightmove. Land registry and possibly Halifax and Nationwide are the ones for me. These should all go negative in the next months.
However I suspect the the Bank of England will drop interest rates to 0.25% to try and prop up the housing bubble. We may have to wait till the UK bond markets are attacked which will really force up borrowing costs so we can have the big house price falls back to normal prices and people can get on the ladder again.
At the moment we have a huge housing bubble which will go properly pop at any time, especially in London.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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As you've been saying for years, with no result.
The London housing market will do no worse than stagnate. The sheer demand for property would see to that even if the apocalyptic turn of events you have been talking up in vain for god knows how long were to happen.0 -
Funny - "the London housing market will do no worse than stagnate" formerly "London house prices will never go down". Next it'll be "London house prices will not crash as much as elsewhere".
I cannot wait. And I own a house."The only man who makes money from a gold rush is the one selling the shovels..."0 -
In my area (west London) they have done nothing other than go up.
I'm saying that if the Brit-ocalypse were to occur (which it won't) London wouldn't 'crash', it would merely tread water due to sheer demand.0 -
In my area (west London) they have done nothing other than go up.
I'm saying that if the Brit-ocalypse were to occur (which it won't) London wouldn't 'crash', it would merely tread water due to sheer demand.
agreed.
The market seems to have been treading water for about 4 years. I think overall it will continue like this with some locale-specific variation of course.0 -
In other news today, already low house building levels have plunged 25% on a year ago. This house price stagnation won't last too long.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Brit1234 claims anyone who disagrees with his poorly worked and optimistic claims of impending doom are 'sock puppets' of someone else and they 'abuse him'.
It's his way of marginalising anyone who speaks against his 4353 posts of obsessive, talking down of the market.0 -
what i do understand is that 'london' isn't a homogenous bloc, so broad a generalisation that it is all an unsustainable bubble can't really be applied.
How do you define a burst in the bubble in %terms?
The current property stagnation is a deflation of the bubble rather than a pop - some areas drop in price, most stay the same (or go down a bit in relative terms), but many will/have continued to rise!
Where is the money coming for rises? There is a point where people wont be prepared to pay more or can afford to pay more. Now this has already happened over most of the country and prices in falling. The only place they are not falling is London however ordinary London people are priced out it is just the foreign investors left. There numbers are slowing, most have spent their money, stamp duty changes are putting others off in favour of Germany and the London high end is collapsing.
At the end of the day with out ever increasing amounts of money prices will fall.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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