Yep.

Steady as she goes!

 

But this decrease in the rate of decline must signal something surely?

 

Yes. It signals the recovery is over.

 

This is a good table to see what the different indices have been reporting.

............................................Peak in House Prices: Latest Price: % Change from Peak:

Halifax: ----------------------- Aug07 £199,612 ~ Mar09 £157,226 -21.23% --(link) - based on mortgage approvals, mix adjusted
Nationwide: ------------------- Oct07 £186,044 ~ Apr09 £151,861 -18.37% ----(link) - based on mortgage approvals, mix adjusted
Rightmove: ------------------- May08 £242,500 ~ Apr09 £222,077 -8.42% ----(link) - initial asking prices
DCLG (formerly ODPM): ----- Jan08 £221,758 ~ Feb09 £189,813 -14.41% ---(link) - completed sales, mix adjusted (experimental)
Land Registry (Monthly): ----- Nov07 £186,009 ~ Mar09 £152,895 -17.80% --(link) - sold prices, like for like
Land Registry (Quarterly): --- Q307 £230,474 ~ Q408 £205,372 -10.89% --------(link) - sold prices, standard average mean, quarterly

 

"It found that the speed of house price falls appeared to be slowing, but a typical property now cost the same as in August 2004"

But still with silly 2007/8 asking prices in many areas!

 

A lot of properties in my area have been taken off the market. They'd rather live and enjoy life rather than getting silly offers from 'people who know best'!

 

And if people don't need to move, then quite rightly that shouldn't. And good luck to them.

However, if people do want to move, is it not right that they value their house according to current market conditions? Not what it's value was at the peak of the biggest house price bubble ever?

If not, then I have a £300 tothbrush for sale, if anyone wants to buy it?

 

Don't be stupid!

It's only worth £250 tops.

 

But surely it's worth only £240 now, taking into account the 20% decrease?

 

Keep up man. Way ahead of you.

 

Well, the 'official' further fall is damned good news to me ..... will depress the market further, will make the valuations lower, will return many properties to the market that were formally 'sold' - these are great buys as the chain has been built, a substantial discount can be had as the difference is shared through the chain

 

Don't be so silly, unlike some on here I've already factored in the price drop.

No living in a bubble here.

 

Good news? How? Aren't you a saver?

 

Or, your type of toothbrush hasn't been affected by the drop due to its location and consistent demand for it

 

 

Because I want to move from being a saver to being an investor, and as long as prices keep falling I will wait and jump in hopefully at the bottom, when the only way is up.

 

or sideways

 

There's more to come.

Unless you're an estate agent and deluded?

 

Although the Nationwide showed a % decrease. In money terms their report yesterday actually seen an increase in house prices.

Evidence..

Media Centre - 30 Apr 2009 - HOUSE PRICES FALL SLIGHTLY IN APRIL

March 2009 = £150,946
April 2009 = £151,861

Strangely enough i work that out at a 0.6% increase but yet this seasonally adjusted rubbish reports it as a fall of 0.4%. No matter what way you interpret the figures, £151,861 is higher than £150,946. You would have needed to borrow more in April than what you did do in March.

Shoddy news reporting on this, however the media have just cottoned on..

http://www.telegraph.co.uk/finance/p...s-went-up.html

 

House buying always increases in spring.

Blip.

The recession has yet to grip properly IMO, and there's still another 10% to go before it evens out.

 

BBC NEWS | Business | March mortgage approvals grow 4%

Quote:

"But approvals remain at a level consistent with further sharp falls in house prices," he warned.

Actual mortgage lending, as opposed to mortgage approvals, grew by £800m, which was significantly less than had been expected and well below the average increase of £1.2bn over the past six months.

 

News Headlines are laughable mostly.

Mortgage approvals UP ..... yeah, but they are still lower than in March 08 when prices were collapsing

However, I do get the feeling that things are looking up.

 

Dream on Pete. I don't think we have seen anything yet. No point keeping your head in the sand, especially after what was revealed in the budget.

Les

 

Hey, I'm as bearish as they come... My point was that even when the prices reach "rock bottom", it's not a given that they will start climbing again.

 

Well I can only speak for new sales on the companies I contract into and Barrats, Charles Church and Persimmon homes have had a lot of sales in the last month and they are all moving towards the social housing side of sales so I think they will be ok. The worst is over we just have to come out of it, whenever that is

 

That'll the blip, as per the usual spring surge.

I'm hoping and expecting a 10% drop before it evens out. And then there should be a 2/3 year stagnation.

Property has had its gold period for a while.

 

Social Housing is the scourge of new estates ...... scumbag, chavvie, occupied houses in amongst the private dwellings - bad news!!

The Builders try to say that the houses are for 'Essential Workers' which is a blatant lie ..... as you will find out when the pikey transits turn up and move into the house opposite!

 

Get used to it as they are bulk buying houses now!

 

The buyer of my house is selling to a housing association.......

That's why she's moving. Her block has been taken over by the unemployed and new to the UK and she wants out!