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Debate House Prices
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bloomberg housing-bubble-may-pop-entire-u-k-economy
Comments
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Crashy_Time wrote: »Not at this rate though, something is up.
Down surely????0 -
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Crashy_Time wrote: »Not at this rate though, something is up.
This isn't actually true. Since the rightmove index started in 2002, there have been July price falls in six years (2005, 2008, 2010, 2011, 2012, and 2014) out of 12. Of the years in which July prices fell month-on-month, the year-on-year trend was positive in all bar 2008.
The average fall in Julys with falls was -1.25%, which is rather steeper than this month's -0.8%.0 -
As an addendum to the above, asking prices dropped in August in every year between 2003 and 2013 with the exception of 2007; the average August drop was -1.6%. So there you go, something to look forward to.0
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The June selling price was +0.1% according to the land registry. We will find out July figures in the last week of August.This isn't actually true. Since the rightmove index started in 2002, there have been July price falls in six years (2005, 2008, 2010, 2011, 2012, and 2014) out of 12. Of the years in which July prices fell month-on-month, the year-on-year trend was positive in all bar 2008.
The average fall in Julys with falls was -1.25%, which is rather steeper than this month's -0.8%.0 -
And with the aveage house price being around 14 times median salary (a far more relevant figure than the mean average, especially in London where the latter is distorted heavily by a small number of very high earners), the fundementals of affordability would tend to support that view.
There's still a considerable cull of investment bankers to come yet. Barclays alone has some thousands to cut by 2016.0 -
Crashy_Time wrote: »Not at this rate though, something is up.
Rightmove. Asking prices, London +0.85% in July. So they are actually going up.0 -
Crashy_Time wrote: »Asking prices are heading down though.
Really? 18 months on and you're still making a fool of yourself :rotfl:0 -
The HPC crew still have fond memories of the great crash of August 2014.0
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I don't know why people are so down on HPC. They successfully predicted 8 of the last 1 crashes in the UK (10 of the last 0 in London).:p0
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