Nationwide goes negative YOY

mitchaa

IveSeenTheLight wrote: »

Actually it says the annual change this quarter is 18%
http://www.nationwide.co.uk/hpi/historical/q1_2008.pdf

This is if the rate in the first quarter stays true throught the year.
You can be prepared for this to drop in the coming months.

Aberdeen was showing a 36% increase last year for the first three quarters and then finished up at 23%

Still a quarterly annual growth of 18% is still very good when the average house price has been dropping.

Yes true, and i shall be keeping an eye out on the next 1/4 release as its fallen from 23 down to 18%

Still i think it would be a rash move to sell the property now based on this. Will have to keep an eye out for actual sales evidence in my area as houses are not staying on the market long and are going like hotcakes at moment.

I suspect the whole of Scotland inc Aberdeen will catch up with the stagnation. I dont see 50% drops though;)

Look at the 10 yr changes in house prices across the country. Aberdeen is still lagging behind many and this is why i think Aberdeen will be safe from ''50% crashes''

oldMcDonald

carolt wrote: »

No, of course I haven't been banned....

I've just been busy - my kids had their 'Easter' break totally out of sync with everyone else's and only went back to school yesterday (phew, sigh of relief.... ). Added to that, we've just sold our car, bought a new car, and I'm having a bit of a work crisis, so all in all, a bit too busy to pop in.

So - did you miss me?

Of - forgot to add, I got tired of the endless personal abuse, too..... (weeping smilie - can't find it...).

Should add, actually, it was good to be away - good to see I can crack the 'addiction'! Hope you lot were keeping the side up.....

Mr B started two threads yesterday saying that you had been banned.

Good to see you posting

mitchaa

boinging wrote: »

Yeah you are so right... 5.65% interest on a building equity, plus all the other savings that add up versus owning at this time.

I will have a property come retirement and it will have cost me so much less than people who bought in 2007.

Happy days big boy.

Like i said good for you

carolt

oldMcDonald wrote: »

Mr B started two threads yesterday saying that you had been banned.

Good to see you posting

The cheeky monkey!!!!!! :rotfl:TWO threads????!!!!!

Can't a girl even have a quiet break without rumours she's been banned?!

What on earth would he do if I jetted off a fortnight in the sun?

Maybe it would help if I posted all my holiday dates/kids school holidays here in advance, to stop the rumour mill working overtime......

So - did I miss anything, then?

Have to say it all looks identical to when I lasted posted - same regulars making the same points. Would like to surprise everyone and say I've realised the error of my ways and become a born-again bull....but I'd be lying.

Looking forward to the Halifax figures due soon too - should make interesting reading........

dannyboycey

mitchaa wrote: »

My post was made in Jest to YOY 2007 figures and the typical MSE expert housing market scaremongers.

Someone that bought a property this time last year will have lost a whopping 1%. (According to nationwide anyway)

They will have lost the difference between YOY figs when the bought and when they sold - generally speaking...... actually, no, that doesn't quite make sense. Been working since 5 this morning and my brain is fried.... ignore me :-P

obsessed_saver

Guess the question would be... would you personally buy now, mitchaa?

Let's put it in the context of a few scenarios:
1) If you are currently renting in Aberdeen
2) If you need to move to London
3) If you need to move to Leeds
4) If you are looking to BTL (anywhere)

mitchaa

obsessed_saver wrote: »

Guess the question would be... would you personally buy now, mitchaa?

Let's put it in the context of a few scenarios:
1) If you are currently renting in Aberdeen
2) If you need to move to London
3) If you need to move to Leeds
4) If you are looking to BTL (anywhere)

Haha, not a chance

However, rental market in Aberdeen is very high and there's not a massive difference between renting and buying like there is, in say London.

£1000pcm 2 bed apartment city centre rents vs £1000 IO mortgages on same properties.

But no i would not buy at moment, anywhere.

purch

Houses are long term, not like stocks and shares

Nothing like Stocks & Shares

Houses are for living in.........not investing in.

Need and Greed !!!!!!

LittleMissAspie

mitchaa wrote: »

Wow, a whole 1% YOY fall :rolleyes:

Well the Nationwide price is down 4% from its peak in October. So even if prices stay the same now, we'll have -4% in October 08. If they drop by an average of 0.5% per month, we'll have -7% in October.

Now I don't know what kind of monthly drop is average in a crash/slump/correction/slowdown/whatever-the-hell-you-want-to-call-it. But seeing as prices have gone up by 1-2% per month over the past few years, I think 0.5% down per month could be realistic.

neverdespairgirl

mitchaa wrote: »

Wow, a whole 1% YOY fall :rolleyes:

More than that, of course, if you take into account inflation.