House price discussion

Pheno

Halifax figures for june released today:

http://www.hbosplc.com/economy/includes/HousePriceIndexJune2005.pdf

+0.1% SA

meanmachine_2

"Annual house price inflation in Northern Ireland was 26.9%, followed by Scotland where prices have risen by 12.5% in twelve months to June. "

:eek: No wonder Hometrack's figures are so very different (measuring England and Wales only).

bernardh_2

It`s two years since I left Kingston.I see on Rightmove that there is a 1 bed flat in my old house for 165k.2 yrs ago,they were going for 175k.
18 months ago,I bought my place in a Suffolk village for 105k and now asking prices are 130k, with one joker trying for 140k.
My sis is buying a house in Doncaster for 175k.On top of the old pit - prices really have gone silly there.

meanmachine_2

Yeah, house prices in London are continuing to fall.

Although I expect the Olympic decision will engineer a mini boost somewhere along the line. If that means the East End is sorted out at last, then that's only to be welcomed, imo.

It is daft though. At this rate the highly deseirable Doncaster will be more expensive to live in than Dulwich!!!

ReportInvestor

'ello, 'ello. What have we 'ere?

The Guardian

Bovis Home prices dropped 10% in the first half of 2005

The Telegraph

Demand for new homes is high, but potential buyers are struggling to sell their properties

GreenB_2

The link takes you to a headline called
"Demand for homes still buoyant but 'buyers are in a chain"
Don't see where it says it has dropped 10%!

It says in the report "House prices have been unchanged in the past six months, the company claimed."

Woby_Tide

Like top posting in usenet.

So it makes it hard to follow.

The poster has put the headline below the link.

I think you've clicked the wrong link for the wrong headline.

deemy2004

Yep a 10% drop in the price of Bovis new homes.

Also not to be missed is the drop in transactions by 24% ! And it is transactions that are the life blood of a market !

The housing market is dramatically freezing up.. And speculative bubble pricing cannot be supported by a freezing market.. as when speculators jump to the next asset class, they won't have the liquidity available to get the prices they think they are going to get as per the market indices prior to the decision to sell.

GreenB_2

Soi we have two contridicting reports - one saying 10% drop in price (business decsion perhaps to remain competitive?) and one saying no change!

The drop in transactions is in comparision to a period when its been over active - are we not just starting to return to the norm? It snot all Doom and Gloom!

deemy2004

Exactly return towards normal - hence so will prices - after the speculative froth has been blown off the prices... probably about 15% of the current house price indices.

Its not quite hit home on the housing market yet, technically the pattern being observed is that of distribution along the highs... When annual house price growth goes negative - probably around October this year.. Then THAT will case a trend change and perhaps a sharp drop in the indices over a single quarter maybe as much as 6% ? maybe higher...