Good news: UK house prices are stuck in the doldrums

RealElement47

Good news: UK house prices are stuck in the doldrums


UK house prices are set to tread water while incomes rise, making property more affordable, says Merryn Somerset Webb.

The numbers aren’t looking good for residential property investors. House price growth in the US fell to a mere 1% at the beginning of this year, according to the latest report from the Dallas Federal Reserve. Look at global data across the 18 largest economies in the world and things don’t look much more encouraging. This could be the year in which we see “global growth dip to its lowest pace in a decade”. Investment is slowing fast, says Oxford Economics.


The UK is no outlier here. The Nationwide index and the Rightmove Asking Prices index show prices and asking prices respectively to be all but flat. The Halifax House Price index shows a better annual number but suggests prices fell mildly in June. You can see the same trend in Hometrack data, which suggests that the falling prices we have seen in London are beginning to spread: over a third of homes are now in areas with annual price falls (the higher value the market the more likely this is), although the absolute levels of falls is small. So what next? Most analysts expect the market to tread water from here (at best) – although if a new PM were to pull a Brexit deal from the hat we could of course see a little London bounce.



moneyweek.com/510607/uk-house-prices-are-stuck-in-the-doldrums/

triathlon

RealElement47 wrote: »

Good news: UK house prices are stuck in the doldrums


UK house prices are set to tread water while incomes rise, making property more affordable, says Merryn Somerset Webb.

The numbers aren’t looking good for residential property investors. House price growth in the US fell to a mere 1% at the beginning of this year, according to the latest report from the Dallas Federal Reserve. Look at global data across the 18 largest economies in the world and things don’t look much more encouraging. This could be the year in which we see “global growth dip to its lowest pace in a decade”. Investment is slowing fast, says Oxford Economics.


The UK is no outlier here. The Nationwide index and the Rightmove Asking Prices index show prices and asking prices respectively to be all but flat. The Halifax House Price index shows a better annual number but suggests prices fell mildly in June. You can see the same trend in Hometrack data, which suggests that the falling prices we have seen in London are beginning to spread: over a third of homes are now in areas with annual price falls (the higher value the market the more likely this is), although the absolute levels of falls is small. So what next? Most analysts expect the market to tread water from here (at best) – although if a new PM were to pull a Brexit deal from the hat we could of course see a little London bounce.



moneyweek.com/510607/uk-house-prices-are-stuck-in-the-doldrums/

I don;t think there is anyone at all who does not think the housing market is flat(doldrums) at the moment, why do assume you are shedding light to us. And the big thing you seem to totally miss, our profits have already been made and by far more than most of us expected. If it all ends tomorrow I and many others will have no arguments and just thank our lucky stars:)

P.S have you another ID on here?

RealElement47

Certainly going to see more falls come oct

lisyloo

RealElement47 wrote: »

Certainly going to see more falls come oct

It’s not certain at all.
Parliament are going to do everything they can to stop us leaving.

RealElement47

Yep and whatever happens looking like uncertainty whatever,

Which is why it’s looking certain to see even more downwards pressure on HPs

lisyloo

This is not good news and has been repeated often that whatever bad news you are referring to is also bad for jobs, credit conditions, confidence etc.
It will make houses more difficult to buy for the majority.

It’s only unicorn economics that thinks house prices can come down but jobs, confidence, mortgages etc, will remain unaffected.

Jobs will be affected if the uncertainty is extended.

triathlon

RealElement47 wrote: »

Yep and whatever happens looking like uncertainty whatever,

Which is why it’s looking certain to see even more downwards pressure on HPs

Yeah, according to some we have been having downward pressure on house prices for 25 years now:rotfl:

RealElement47

lisyloo wrote: »

This is not good news and has been repeated often that whatever bad news you are referring to is also bad for jobs, credit conditions, confidence etc.
It will make houses more difficult to buy for the majority.

It’s only unicorn economics that thinks house prices can come down but jobs, confidence, mortgages etc, will remain unaffected.

Jobs will be affected if the uncertainty is extended.

You are right nothing happens in a vacuum

But it is good news even if the uncertainty makes property,wages, jobs everything decline, it’s just a correction from the everything bubble

Hectors_House

I spoke to the son-in-law of my client yesterday.

He is retired with money in the bank, a nice home in Bristol and a holiday home in Italy.

He’s determined the drop in house prices in London are because of Brexit and that it will spread.

A local EA told me houses are flying off the shelves in my village... as long as you drop your price. I see Sold signs going up then the places coming back up for sale.

If this is the correction folks have talked about then let’s see it matched by wages rising too.

Oh wait. Was that a pig that just flew past.

Maybe if wages did rise the banks would be more willing to lend.

RealElement47

lisyloo wrote: »

This is not good news and has been repeated often that whatever bad news you are referring to is also bad for jobs, credit conditions, confidence etc.
It will make houses more difficult to buy for the majority.

It’s only unicorn economics that thinks house prices can come down but jobs, confidence, mortgages etc, will remain unaffected.

Jobs will be affected if the uncertainty is extended.

Jobs will be affected if the uncertainty is extended And this will have even more downwards pressure on property

lisyloo

RealElement47 wrote: »

You are right nothing happens in a vacuum

But it is good news even if the uncertainty makes property,wages, jobs everything decline, it’s just a correction from the everything bubble

So you think people losing their jobs is a good thing?
You think having car manufacturing located in the uk rather than somewhere else is a bubble?