Debate House Prices


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Nationwide goes negative YOY

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Comments

  • $$$ wrote: »

    Just read http://www.nationwide.co.uk/hpi/historical/apr_2008.pdf
    Interesting it talks about "85% of borrowers will be seeing no impact or will benefit directly from reductions in the bank rate this year.

    This is good news for the overall stability of the housing market and is a significant factor that differentiated the housing market of today from that of the late 1980's and early 1990's
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • $$$_12
    $$$_12 Posts: 163 Forumite
    Just read http://www.nationwide.co.uk/hpi/historical/apr_2008.pdf
    Interesting it talks about "85% of borrowers will be seeing no impact or will benefit directly from reductions in the bank rate this year.

    This is good news for the overall stability of the housing market and is a significant factor that differentiated the housing market of today from that of the late 1980's and early 1990's

    Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    $$$ wrote: »
    Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.

    More than enough. Normal turnover in the housing market is I believe equivalent to 10% of existing stock. Add to the 15% every new build yet to be sold and I would guess you're looking at supply more than doubling from forced sellers alone.

    Let us not forget that this at the end of the longest period of economic growth with low(ish) inflation that I can think of. What do you think will happen if unemployment starts to rise, say as companies are unable to invest as a result of the credit crunch and thus unable or unwilling to employ more workers?
  • Paul_N_4
    Paul_N_4 Posts: 344 Forumite
    Generali wrote: »
    More than enough. Normal turnover in the housing market is I believe equivalent to 10% of existing stock. Add to the 15% every new build yet to be sold and I would guess you're looking at supply more than doubling from forced sellers alone.

    Let us not forget that this at the end of the longest period of economic growth with low(ish) inflation that I can think of. What do you think will happen if unemployment starts to rise, say as companies are unable to invest as a result of the credit crunch and thus unable or unwilling to employ more workers?

    Shhhhhh... you'll upset those clinging to their last straw.
  • carolt
    carolt Posts: 8,531 Forumite
    Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here..... ;)

    I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.

    So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.

    Some things never change.... :)
  • $$$ wrote: »
    Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.

    15% seeing an impact does not mean they will be shafted. It means what it says on the tin, they will see an impact.
    There are many ways you can affect the impact before you would be forced to sell your house.

    When interest rates went up last year, those on trackers, discounts or variables all saw an impact. Were they forced to sell.

    Settle
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • carolt wrote: »
    Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here..... ;)

    I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.

    So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.

    Some things never change.... :)

    You must be a happy bunny!
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  • mitchaa
    mitchaa Posts: 4,487 Forumite
    Wow, a whole 1% YOY fall :rolleyes:

    Only another 49% to go if you believe half the drivel on this site. Wouldn't take any notice of nationwide/halifax stats either, wait until the official LR publishes

    My property has increased by £39,000 within the last 10 months after a valuation a couple of days ago so this HPC nonsense doesn't worry me in the slightest:p

    Its the renters amongst you who feel the need to gloat, i'd much rather have money in bricks and mortar than nothing at all.
  • JonnyBravo
    JonnyBravo Posts: 4,103 Forumite
    Mortgage-free Glee!
    mitchaa wrote: »
    Wow, a whole 1% YOY fall :rolleyes:

    Only another 49% to go if you believe half the drivel on this site. Wouldn't take any notice of nationwide/halifax stats either, wait until the official LR publishes

    My property has increased by £39,000 within the last 10 months after a valuation a couple of days ago so this HPC nonsense doesn't worry me in the slightest:p

    Its the renters amongst you who feel the need to gloat, i'd much rather have money in bricks and mortar than nothing at all.


    Well I'm sure the last downturn started with a 1% YoY fall..... didn't it?.... or did it magically jump to 20%?

    Your property may have increased in value. You would only find that out if you sold it. "Valuations" are usually guesstimates by people with a vested interest.

    No, I'm not a renter. Yes I own "bricks and mortar". Doesn't stop me seeing the blindingly obvious. But no I don't think we're headed for 50% as your post seems to think we all think.
  • LillyJ
    LillyJ Posts: 1,732 Forumite
    carolt wrote: »
    Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here..... ;)

    I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.

    So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.

    Some things never change.... :)

    carolt have you not been banned?
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