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House Price falls down 4% year on year (Halifax)
brit1234
Posts: 5,385 Forumite
Hi Just heard on the news, house prices fall just under 4% year on year (Halifax). The crash is really here, now confirmed.
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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i read on bbc it was 0.9% Year on Year fall ? and 1.3% fall month on month.0
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Declan on BBC said -3.7% year on year 10 mins ago, no official Halifax link to confirm yet.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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The only 3.7% in the report refers to wages. Maybe Declan just mis read the wrong figure in front of 5 million viewers live on National TV.
Its still £2,500 off a price of a London property for me but I would of rather the £8,000 though.:rolleyes::exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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Oh its the way Halifax do their 3 month average thing. Using their 3 month average, its down 0.9% YoY.
Doing a straight Apr 07 - Apr 08 (like Nationwide), its down 3.7% YoY. Ouch.0 -
Oh its the way Halifax do their 3 month average thing. Using their 3 month average, its down 0.9% YoY.
Doing a straight Apr 07 - Apr 08 (like Nationwide), its down 3.7% YoY. Ouch.
Cool, I'm still a tad confused. Waiting for Business segment on BBC to listen carefully.
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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What is the definition of a "crash"? More than 4% I suspect and for a sustained period. How much have prices gone up by over 5 years?
I think this is a correction having regard to all of the circumstances in the World - particularly credit liquidity and economic slow down. I don't see prices losing more than a couple of year's growth though.
Personally I've just exchanged contracts on our sale. We'll sit this out and see what happens. However, I will be buying back in just as soon as it seems sensible to do so.0 -
What is the definition of a "crash"? More than 4% I suspect and for a sustained period. How much have prices gone up by over 5 years?
I think this is a correction having regard to all of the circumstances in the World - particularly credit liquidity and economic slow down. I don't see prices losing more than a couple of year's growth though.
Personally I've just exchanged contracts on our sale. We'll sit this out and see what happens. However, I will be buying back in just as soon as it seems sensible to do so.
My understand is that a crash is defined at >20% losses from peak.0
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