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So... 1.3% Month on Month doesnt seem to bad eh?
neas
Posts: 3,801 Forumite
Small drops in the housing market.... only 1.3% drops according to Halifax.
I guess some among you might be cheering for joy that a 'crash' isnt occuring.
So far the falls have been occuring for 6 months... such that Houses were more expensive this time last year than they are now.
So.... What does a 1.3% drop per month mean over a year?
Over 1 year it means a 14.5% drop in prices, over 2 years it means a 27% drop in prices.
Just because MoM figures are low doesn't mean that it isnt a 'crash'.
I guess some among you might be cheering for joy that a 'crash' isnt occuring.
So far the falls have been occuring for 6 months... such that Houses were more expensive this time last year than they are now.
So.... What does a 1.3% drop per month mean over a year?
Over 1 year it means a 14.5% drop in prices, over 2 years it means a 27% drop in prices.
Just because MoM figures are low doesn't mean that it isnt a 'crash'.
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Comments
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Idiot-proof explanation!!! Thankyou for the clarity!!!! :T0
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If you read the article (http://news.bbc.co.uk/1/hi/business/7378215.stm) you will see that the year on year fall is 0.9%.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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If you read the article (http://news.bbc.co.uk/1/hi/business/7378215.stm) you will see that the year on year fall is 0.9%.
or -3.7% depending how you use the figures.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Shouldn't this be in the other forum?Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
Yes I posted in wrong forum, sorry.0
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All that excitement at the headlines... rush of blood to the head... must... start... thread... oops wrong forum.0
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Very true
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