Halifax -0.4%.... £159,486

homelessskilledworker

http://www.lloydsbankinggroup.com/media/pdfs/halifax/2012/0410_HPI.pdf

homelessskilledworker

These indcies are of little interest to me individualy, but this one is significant(to me anyway).

Halifax has now entered the £150k's like I thought it would this year, I now expect the LR to be next with the Nationwide to follow kicking and screaming a short while later.

Then(in my opinion) we are going to start chasing the £140k levels again, and when that happens the real acceptance of problems ahead can start being discussed on this board.

Graham_Devon

I seem to be saying "good" at lot lately.

Good.

angrypirate

Interesting, August figures revised down 0.1% to -0.5.

Graham_Devon

Oh, just noticed.

Down month on month.
Down quarter on quarter.
Down year on year.

Good good good.

homelessskilledworker

Graham_Devon wrote: »

I seem to be saying "good" at lot lately.

Good.

I kept saying on here that prices were moving into a slight downward trend, and if people wanted to argue that they thought things were flat I was quite happy to understand their point of view.

This morning I am even more convinced we are now in a downward trend, but going sub £150k will be an eye opener for many.

ukcarper

If things carry on the same for the next 2 years the price to earnings ratio will be below long term average.

Not a bad outcome small enough falls for people on repayment mortgages to pay more off more than the fall in their property price and property more affordable than long term average.

DervProf

Well, as a homeowner, I am told this is bad news for me.

I'm actually slightly pleased to hear this news. We need people to be spending less on their accommodation, and more on the wider economy. It is a good thing that people might be finally understanding that "investment" in property is not a one way street to wealth and prosperity. Yes, it's a financially sensible idea to buy a place of your own, but the more people that treat it as just a sensible idea rather than a casino where everyone wins, the better IMHO.

brit1234

Great News, should be a good few months before the property rampers try to talk up spring bounce.

HAMISH_MCTAVISH

Brit, your signature is wrong.

Land registry is PLUS 0.7% year on year.

Poor show, deliberately faking figures like that.....

Eellogofusciouhipoppokunu

DervProf wrote: »

Well, as a homeowner, I am told this is bad news for me.
I'm actually slightly pleased to hear this news. We need people to be spending less on their accommodation, and more on the wider economy. It is a good thing that people might be finally understanding that "investment" in property is not a one way street to wealth and prosperity. Yes, it's a financially sensible idea to buy a place of your own, but the more people that treat it as just a sensible idea rather than a casino where everyone wins, the better IMHO.

Who told you that it was bad news for home owners?

Falling house prices are a good thing for most homeowners as it makes it easier to climb the next rung of the ladder. The only people negatively affected are people who have recently bought and might have fallen into negative equity. Even then it just means they are unable to move house (but then if they recently bought, they shouldn't be looking at moving anyway) and it makes it harder to arrange a mortgage (but then people should take a longer view on their mortgage deals than just a year or two).

Falling house prices are good news for all the reasons you subsequently listed in your post and the couple of reasons I have posted above. Hopefully the next time someone tells you that falling prices are 'bad news' to home owners you'll now be prepared with an instant retort instead of having it rankle.