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Debate House Prices


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House prices 'unchanged in May'

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Toiletduck wrote: »
    I did the first sentance says "unchanged in May" The rest of the article refers to December - March, maybe they meant "unchanged in March" then?

    It's the release of the figures which is referred to by May, I think.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • sympatex
    sympatex Posts: 293 Forumite
    NDG, yep i do and i'm addicted. :/ I see reductions in asking price but there's still quite a way to go perhaps 20,000 (10-15%) on average 3beds before they fall back to prices recorded in March 2007. We've decided to sit back another 6months and see where we're at then. So much is happening probably end up finding out we need a minimum of 25% deposit come Jan 2009. Which will chop us out the market again!
  • MrDT
    MrDT Posts: 951 Forumite
    Toiletduck wrote: »
    I did the first sentance says "unchanged in May" The rest of the article refers to December - March, maybe they meant "unchanged in March" then?

    I think the LR lags completed sales by 2 months, so the figures are about 5-6 months out of date...
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Where do you live?
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • sympatex
    sympatex Posts: 293 Forumite
    Frimley Green, Surrey
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    I dont honestly care much about the LR figures, the Rightmove figures or the Nationwide figures, theyre all deficient indexes in one way or another. I'm much more interested in what I can buy with the finances I have access to, and theres much more on the market now.

    I still think the prices are too high though so I'm not going to be doing any sellers a favour just yet. FTB's without the cash reserves we have (which is most of them) relying on todays mortgage market would be unable to afford them at all, so I only see prices going one way.
  • sympatex
    sympatex Posts: 293 Forumite
    i agree ruggedtoast. i think sentiment is a key factor in reducing asking prices and these indexes do swing peoples sentiment.it wouldn't be reported if it didn't!
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    m00m00 wrote: »
    LR will go monthly negative next month, and YOY negative the month after if not next month

    want a 50p bet on it :)


    I predict that LR figures wont even go YoY negative till November / December.
    The big problem with LR figures is that they show what was happening 5 or 6 months ago, as they are based on information submitted after a completed sale.

    Buying a house is often a drawn out process and as such, LR figures will only ever give a retrospective view.

    The less intellectually able among us pick up data like this and their 'green shoots radar' goes into overdrive. Give up guys, the housing market is dead - prices are not going to magically rise until other economic factors are levelled out. Namely the price of oil, fuel, inflation, and wages.
  • Paul_N_4
    Paul_N_4 Posts: 344 Forumite
    Yep, LR stats pretty much as expected. I'd expect the bigger falls reported by Haliwide over the last couple of months to start showing in LR figures around September time.
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    abertech wrote: »
    House prices in England and Wales were unchanged in May and up 1.8% over the year, the Land Registry says.

    http://news.bbc.co.uk/1/hi/business/7477149.stm


    Phew, the crash is off then :p

    I'm off to buy a house before they get out of my range .. inflation, you know :D
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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