MSE News: House prices fell in July

DRP

brit1234 wrote: »

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.

by that logic:

if money stays the same, prices will stay the same

if money increases, prices will increase

Lack of housing stock will inflate the market in addition to the above

We all know what the drivers of the market are, and yet we all predict different (but actually fairly similar) outcomes

thriftychap_2

I would love for this slight decline to be the start of a sustained period. Having just sold, with the intention of not buying for 6 months to a year, this would be great for us.

However, I am not holding my breath. For me this is just a small blip, prices will continue to stagnate or rise small amounts. Here in the south east asking prices have continued to go up, sold prices about the same maybe up a little over the past three years.

Finger crossed for a decline though!

FTBFun

brit1234 wrote: »

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.

Brit - the prime market works in its own way and is irrelevant to the rest of the market itself.

The market doesn't go £150k flat - £200k terraced - £350k semi - £450k detatched - £2m mansion. Hence why 7% stamp duty etc isn't necessarily going to affect the price of property further down.

Pincher

0.1%? If this carries on, they'll be screaming CRASH on 0.5%, and THE END of THE WORLD for 1.0%.

To the "What is so great about rising house prices if I can't buy?" poster. You only want to buy BECAUSE it goes up. If prices fall 1% a year for the next ten years, you won't want to touch it with a barge pole.

jimpix12

Pincher wrote: »

0.1%? If this carries on, they'll be screaming CRASH on 0.5%, and THE END of THE WORLD for 1.0%.

To the "What is so great about rising house prices if I can't buy?" poster. You only want to buy BECAUSE it goes up. If prices fall 1% a year for the next ten years, you won't want to touch it with a barge pole.

Load of !!!!!!!! - not everyone who buys is looking to flip for a profit in a few years time. God forbid, some people actually just want to buy a house to live in. I am one of those people and I'm not alone!

rickbonar

July????


I thought they'd been falling since late 2008?:eek:

DRP

rickbonar wrote: »

July????


I thought they'd been falling since late 2008?:eek:

not here they haven't!! :eek:

James_N

brit1234 wrote: »

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.

Do you know anything about supply and demand? Well, the answer is fairly obvious really: no.
Your wish-fulfillment proclamations continue month in year out, yet you continue to be wrong. Time to give it up I think.

brit1234

James_N wrote: »

Do you know anything about supply and demand? Well, the answer is fairly obvious really: no.
Your wish-fulfillment proclamations continue month in year out, yet you continue to be wrong. Time to give it up I think.

Would you like to tell me what demand that is?

Land Registry transaction data for April – the latest available – shows that there were just 41,244 house sales, down from 50,721 in April of 2011, a fall of 19%.

Nearly a 20% fall in the number of peak sale period sales year on year after a low amount the year before.

http://www.estateagenttoday.co.uk/news_features/Home-sales-plummet-nearly-20-says-Land-Registry

But I know nothing about supply and demand according to you. Lots of people want to buy to be fair but they haven't got the deposits, they haven't got the mortgage offers, they haven't got the wages to afford the property. They all want it but they can't.

Is it 2 sellers for every one buyer at the moment? Does that mean prices are being forced down or up under your theory?

What we have here is a few high end purchases in a low transaction market distorting the national and London figures. Is the wages of average middle class London family going up? No they are not, they are not fuelling higher London prices it is solely the top end distorting things and their numbers are thinning out.

Prices are falling all over the country for years now and now we have the clear signs London is being affected.

James_N

brit1234 wrote: »

Would you like to tell me what demand that is?
Prices are falling all over the country for years now and now we have the clear signs London is being affected.

"Falling everywhere", except the parts of the market nationally that you choose to conveniently ignore. It's always the same with you; selective information, trotted out in an interminable diatribe.