" Prices wont fall in my area" - why do some say this?

m00m00

it means there was massive hpi this time last year, which ground to a halt around september time, and went into reverse a few months ago

baby_boomer

codger wrote: »

So there you are. Let To Buy. "An option most people do not, but should, consider

Why shouldn't everyone consider taking out a mortgage on their existing home in order to add a second property and use gearing to beef up their capital gains in the current market? :rotfl:

mitchaa

AceCobra1 wrote: »

Apparently my mate said that the prices in Dundee is still continuing to go up. He is not someone who talks crap but do you guys have any 'proof' that Dundee is property prices are going down too ?

I was just looking at this and it seems that most places have a - sign in thier quarter prices but a + sign in the annual bit... what does it mean?

No where in the country are prices still rising, your mate is wrong.

Dundee, just like Aberdeen 60 miles north are showing monthly falls. However what your mate is saying is that prices are still higher than what they were this time last year.

They are not higher now than what they were last month or the month before etc.

There is MOM and YOY (Month on month, year on year)

Everywhere is showing MOM drops, however there are lots of places where there are still +ve YOY

Dundee and Aberdeen fairing well.

Because of MOM drops, its fact houses are dropping, not rising.

AceCobra1

Where would I be able to check MOM figures? Thanks for the reply btw mitchaa

PasturesNew

AceCobra1 wrote: »

I was just looking at this and it seems that most places have a - sign in thier quarter prices but a + sign in the annual bit... what does it mean?

Dundee fell in the last quarter

If a house was £100k a year ago and rose by £1k/month, for 8 months, then fell by £1k/month for 4 months, this would mean it would now be £104k. So a 4% increase over a year ago. +4%. But the last 3 months it fell from £107k to £104k, so prices are going down -2.81%.