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MSE News: House prices continuing to fall, says Nationwide

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in House buying, renting & selling
"The 0.9% year-on-year decrease took average house prices to £164,153 in October, the building society says..."
Read the full story:

House prices continuing to fall, says Nationwide

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Comments

  • rickbonar.
    rickbonar. Posts: 99 Forumite
    Funny I thought I read here MSE recently house prices were surging?
  • DRP
    DRP Posts: 4,275 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    rickbonar. wrote: »
    Funny I thought I read here MSE recently house prices were surging?

    I think I've read both sides of the argument here on MSE!

    Each point of view vehemently backed up with data and anecdote... :money:
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Name Dropper First Anniversary Photogenic First Post
    rickbonar. wrote: »
    Funny I thought I read here MSE recently house prices were surging?

    Not exactly surging, but average prices went up in October.

    http://www.nationwide.co.uk/hpi/default.htm

    All in all it's a pretty flat picture. Slightly down nationally over the year hides larger regional movements, but monthly movements like this are noise.

    A non-story really. :)
  • J_i_m
    J_i_m Posts: 1,342 Forumite
    Yeah.. I don't take too much store in these articles because they are always accompanied by others contradicting them.

    I usually simply conclude that no one knows what they're talking about, lest of all myself :P
    :www: Progress Report :www:
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    Exchanged: 2/3/16
    :T ... complete on 9/3/16 ... :T
  • MelaBella
    MelaBella Posts: 158 Forumite
    its quite difficult to analyze this sort of data. countrywide figures are mostly irrelevant because all the regions folllow their own patter of development (London always stands out with the rising house prices of course), also there is wide gap between higher-end and lower end sales (with the first ones increasing and the latest ones decreasing). it s always better to look at the sales figures from particular region and particular type of housing (lower end, typical or higher end) in oprder to draw a picture.

    In general the main poroblem is continuing and rising unemployment in the country (dont be fooled by Olympics hype, the reality is slowly taking over now), hence unability to take the mortgages. I think in a short term and med term the whorsening economic conditions will pull the prices for typical houses down. the lower tier housing market will be whorst affected, the higher tier housing market will be only gaining (foreign investors are stocking on the properties in the UK).
  • Ectophile
    Ectophile Posts: 7,331 Forumite
    First Anniversary Name Dropper First Post
    It's all just fractions of a percent. I don't think the data is really that reliable. Price changes differ across the country by more than that.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    First Anniversary First Post Combo Breaker
    rickbonar. wrote: »
    Funny I thought I read here MSE recently house prices were surging?

    Naaa, that's just asking prices. :D
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • rickbonar.
    rickbonar. Posts: 99 Forumite
    gadgetmind wrote: »
    Naaa, that's just asking prices. :D

    I had to laugh the free property papers they put through your door are indeed upping the prices.

    It's true if nothing's selling ....you may as well ask £2 million.!
  • rickbonar.
    rickbonar. Posts: 99 Forumite
    And just how much is Abu Hamza's ex council house worth?
This discussion has been closed.
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