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MSE News: Halifax: House prices dipped slightly in July

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MSE News: Halifax: House prices dipped slightly in July

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
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Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
"House prices fell in July following two months of increases but are expected to remain largely flat this year..."
Read the full story:
Halifax: House prices dipped slightly in July

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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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  • brit1234brit1234 Forumite
    5.4K posts
    Why flat? Is the Olympics suddenly going boast confidence in housing?

    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.

    images?q=tbn:ANd9GcRMXoIFnc1F-OQG-onqKYjNpBpmBH9hfPq3n_TkUHVEP2t7AB2J

    We are now entering the fear phase of the housing bubble after the dead cat bounce.

    09-03-11-MM1.ashx?w=450&h=334&as=1
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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  • Yet in my county they've gone up 6.8% annually.
  • EctophileEctophile Forumite
    4.6K posts
    Ninth Anniversary 1,000 Posts Name Dropper
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    The graphs I see at http://www.houseprices.uk.net/graphs/ don't look much like your idealised model of a bubble.

    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 sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • brit1234 wrote: »
    Why flat? Is the Olympics suddenly going boast confidence in housing?

    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.

    images?q=tbn:ANd9GcRMXoIFnc1F-OQG-onqKYjNpBpmBH9hfPq3n_TkUHVEP2t7AB2J

    We are now entering the fear phase of the housing bubble after the dead cat bounce.

    09-03-11-MM1.ashx?w=450&h=334&as=1

    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!
  • brit1234brit1234 Forumite
    5.4K posts
    Ectophile wrote: »
    The graphs I see at http://www.houseprices.uk.net/graphs/ don't look much like your idealised model of a bubble.

    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.

    homepage.png
    09-03-11-MM1.ashx?w=450&h=334&as=1

    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.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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  • LiGhTfasTLiGhTfasT Forumite
    161 posts
    Part of the Furniture 100 Posts
    Cant believe people are still waiting for the great housing price crash, i gave up waiting 3 years back. Prices haven't fallen around here but stayed stable since the recession. Great time to buy, mortgages are cheap as chips. Mines now cheaper than renting the crapiest flat in town.
  • James_NJames_N Forumite
    1.1K posts
    Part of the Furniture
    ✭✭✭
    brit1234 wrote: »
    Why flat? Is the Olympics suddenly going boast confidence in housing?

    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.

    images?q=tbn:ANd9GcRMXoIFnc1F-OQG-onqKYjNpBpmBH9hfPq3n_TkUHVEP2t7AB2J

    We are now entering the fear phase of the housing bubble after the dead cat bounce.

    09-03-11-MM1.ashx?w=450&h=334&as=1

    it doesn't become meaningful with the addition of silly pictures Brit
    Under no circumstances may any part of my postings be used, quoted, repeated, transferred or published by any third party in ANY medium outside of this website without express written permission. Thank you.
  • HAMISH_MCTAVISHHAMISH_MCTAVISH Forumite
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    I see Brit "50% off by Xmas 2009" 1234 is still posting the same old nonsense.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • Dan:_4Dan:_4 Forumite
    3.8K posts
    brit1234 wrote: »
    homepage.png


    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.

    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.

  • brit1234brit1234 Forumite
    5.4K posts
    I see Brit "50% off by Xmas 2009" 1234 is still posting the same old nonsense.

    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.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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