Vague_Boy Posted October 7, 2010 Share Posted October 7, 2010 Some excellent news, houses are becoming more affordable: UK house prices fell 3.6% in September, Halifax says The 3.6% drop was the biggest fall in month-on-month prices since the figures were first compiled in 1983. Low transaction levels in the housing market meant that there was volatility in the month-on-month measure of house prices, Halifax's housing economist Martin Ellis said. However, he said that an increased number of properties available for sale in recent months had pushed down prices. This had come at the same time as demand for homes had fallen owing to "renewed uncertainty" about the economy and jobs, Mr Ellis said. LINK Not quite sure how the Daily Mail will take this! UK House prices SEPTEMBER 2010 (seasonally adjusted) Annual change +2.6% Sep 09 163,294 Sep 10 162,096 Only in Haliwide land could this be an annual increase of 2.6%. Don't tell me they have seasonally adjusted an annual figure! I think the UK's biggest mortgage peddler is really worried. Prices remained 2.6% higher than a year ago, the figures show Will Halliwide bother to explain the "3 month rolling average" that makes this possible. The Sep 10 figure is lower than the Sep 09 figure! And when you factor in inflation.... Link to comment Share on other sites More sharing options...
Vague_Boy Posted October 7, 2010 Author Share Posted October 7, 2010 Trust the Daily Mash to nail it. THING YOU PAY THE BANK TO LET KEEP YOUR STUFF IN IS WORTH £6000 LESS [Caution -- some strong language] Link to comment Share on other sites More sharing options...
Vague_Boy Posted October 7, 2010 Author Share Posted October 7, 2010 Britain's economic recovery is at risk because its over-valued housing market faces a 'double dip' in prices, the International Monetary Fund said last night. The IMF warned that the country's house prices are too high and this could lead to people being unable to meet mortgage payments if interest rates rise. This, in turn, could affect consumer confidence and the UK's recovery prospects. 'House prices in Britain are still high based on the traditional valuation yardsticks,' the Fund said in its World Economic Outlook report. The Fund's top economists said the two-year exemption on stamp duty on homes worth up to £250,000 for first-time buyers might not be adequate to prevent sharp price falls. LINK Time to start reducing asking prices in order to aid the "recovery". Link to comment Share on other sites More sharing options...
Bonjon Posted October 7, 2010 Share Posted October 7, 2010 I find these threads amusing and have over the last 3 (I think its been this long since the housing market slowed) yrs, people who are waiting for the magical housing price crash to bag themselves a nice house for 20 grand. Its not going to happen, you missed the boat when the prices slightley lowered last year. All waiting does is to put more money into landlord's pockets. Example:Waiting 3yrs for a crash paying £600 pcm rent = 36*600 = £21600, this could have been payed off a mortgage and would cover any slight drops in the market (although prices are higher than a year ago still). The only people who are loosing out are the people who were buying cheap and selling higher in short periods of time, anyone who has bought for mid-long term will be perfectley fine. Link to comment Share on other sites More sharing options...
chem1st Posted October 7, 2010 Share Posted October 7, 2010 http://www.telegraph.co.uk/finance/personalfinance/8047902/Property-prices-drop-6000-in-a-month.html £6000 drop in a month. Nationwide Q3 report had Sheffield as the biggest drop year on year at 5%, last month. Only another 40% to go! Link to comment Share on other sites More sharing options...
Bonjon Posted October 7, 2010 Share Posted October 7, 2010 Or if you take a look on the house price index it shows an annual rise of 6.7% on last year, even better news for us home owners, watching our investments grow a higher rate than it would in a bank http://www1.landregistry.gov.uk/houseprices/ Link to comment Share on other sites More sharing options...
chem1st Posted October 7, 2010 Share Posted October 7, 2010 Or if you take a look on the house price index it shows an annual rise of 6.7% on last year, even better news for us home owners, watching our investments grow a higher rate than it would in a bank http://www1.landregistry.gov.uk/houseprices/ Come 11am on the 28th it is going to be listed the biggest monthly drop since records began. Consider house prices like a parachute jump, currently at the point of just having exited the plane. Link to comment Share on other sites More sharing options...
poppins Posted October 7, 2010 Share Posted October 7, 2010 Trust the Daily Mash to nail it. THING YOU PAY THE BANK TO LET KEEP YOUR STUFF IN IS WORTH £6000 LESS [Caution -- some strong language] Good way of putting it really, you rent space from the bank to store your stuff and have a place to sleep Link to comment Share on other sites More sharing options...
truman Posted October 7, 2010 Share Posted October 7, 2010 Good way of putting it really, you rent space from the bank to store your stuff and have a place to sleep But when the mortgage is paid (not too long now) it's mine.... Link to comment Share on other sites More sharing options...
spindrift Posted October 7, 2010 Share Posted October 7, 2010 Headline: Great News! Houses 3.6% more AFFORDABLE!! Link to comment Share on other sites More sharing options...
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