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MSE News: House prices fell in July

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
edited 30 July 2012 at 10:32AM in House buying, renting & selling
"House prices have fallen for the first time in seven months, says property analyst Hometrack..."
Read the full story:
House prices fell in July


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«13456710

Comments

  • 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.
  • mr_fishbulb
    mr_fishbulb Posts: 5,224 Forumite
    Part of the Furniture Combo Breaker
    Why did MSE create the Debate House Prices & the Economy board if they are going to put house price articles on this one?
  • brit1234
    brit1234 Posts: 5,385 Forumite
    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.

    Save our Savers
  • sinbad182
    sinbad182 Posts: 619 Forumite
    500 Posts
    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.
  • jimpix12
    jimpix12 Posts: 1,095 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    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..."
  • sinbad182
    sinbad182 Posts: 619 Forumite
    500 Posts
    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.
  • DRP
    DRP Posts: 4,283 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    sinbad182 wrote: »
    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.
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    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 ForumTeam
  • sinbad182
    sinbad182 Posts: 619 Forumite
    500 Posts
    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.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    DRP wrote: »
    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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