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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding.MSE News: Halifax: House prices dipped slightly in July
Former_MSE_Helen
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"House prices fell in July following two months of increases but are expected to remain largely flat this year..."
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Halifax: House prices dipped slightly in July
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Halifax: House prices dipped slightly 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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I can't see a change from last with the majority of months showing continual falls with the exception of the odd hick up and those couple of spring bounce months (delayed a couple of months in Halifax figures. House prices are still extremely overvalued, no one is buying as sellers are being deluded about high asking prices. The economy is has gone back into recession and higher mortgage rates are on the horizon.
Prices are going to continue to fall, these are typically the worst months for house prices.
We are now entering the fear phase of the housing bubble after the dead cat bounce.
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If you take the graphs all the way back to 1985, and squint at it a bit, then it might just possibly look a bit like a bubble, but that's ignoring the fact that the dip in the mid 1990s was the last recession.
If it breaks, well it wasn't working right anyway.
Comedy gold from mr 'if I say it enough it will happen'. It's amazing how you'll whole heatedly agree with the facts and figures producd that support your desire for a crash but quickly produce a ridiculous Microsoft paint graph to 'disprove' the ones you don't like!
Looks very much like a bubble. Look at the rapid rise in 2000. Now if on historical terms the average property cost 3-3.5 times average salary and now cost 6 times or far higher in London you can clearly see a huge bubble. The bubble only kept going in 2009 with slashing interest rates to 0.5% and huge amounts of foreign London buyers distorting the market. Knight Frank report this is dramatically now falling after the stamp duty changes and high food and fuel inflation (with stagnant wages) is countering low interest rates.
We are clearly in line for continual falls with bigger falls when the UK credit rating is reduced and borrowing costs rise.
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it doesn't become meaningful with the addition of silly pictures Brit
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
brit. You do know that these days it is 3-3.5 JOINT salary and not SINGLE salary don't you?
The main factor for high house prices these days is because women got bored of playing housewive and wanted to go back to work - suddenly households had double the income and house prices went sky high! Unless women return to the kicthen high house prices are here to stay.
My wife-to-be would love to be a stay-at-home mum, but that simply can't happen if we want to buy a house in the future.
Your just worried about your highly geared buy to lets falling in value. Go buy a copy of the Daily Express with a fictional house price ramping story by Sarah Grady.
Hamish how can you deny house prices are overvalued, even with a basic understanding of economics its obvious. Even with that massive interest rate cut 0.5% designed to stop the crash just delayed it and prices have been falling everywhere apart from London the last couple of years.
You can't deny the maths, house prices will continue to fall back to historical norms either slowly or faster when our countries credit rating is reduced.
Every thing has been done to prop artificially high prices up, all it has done is delay the correction back and correct it will.
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