House Prices Now At 2004 Levels
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year on year they accelerated from last month (-17.5% vs -17.7%), so I'd say we're not out of the woods yet.
Also, the Halifax quarterly figures do not look as rosy as the four month -3.8%, more like -5.8% (February -2.3%, March -1.9%, April -1.7%). Source: Lloyds Banking Group plc - Halifax House Price index
Perhaps house price falls are accelerating
Also, the Halifax quarterly figures do not look as rosy as the four month -3.8%, more like -5.8% (February -2.3%, March -1.9%, April -1.7%). Source: Lloyds Banking Group plc - Halifax House Price index
Perhaps house price falls are accelerating
As said so far this year in 2009 as a whole. Nationwide is down less than a % and Halifax 3.8%In comparison to the same time last year i would think we were doing a little better this year
Haha nice and convenient that you missed the month of increases in your figures there As said so far this year in 2009 as a whole. Nationwide is down less than a % and Halifax 3.8%
In comparison to the same time last year i would think we were doing a little better this year
As said so far this year in 2009 as a whole. Nationwide is down less than a % and Halifax 3.8%In comparison to the same time last year i would think we were doing a little better this year
So anyway, 2008 prices up to May here: Halifax House Price Index May
Halifax 2008:
January: 0.0%
February: -0.4%
March: -2.5%
April: -1.5%
So using your methodology we'd get -4.34% from Jan 2008 to April 2008, so yes slightly slower fall this time around.
Halifax 2008:
January: 0.0%
February: -0.4%
March: -2.5%
April: -1.5%
So using your methodology we'd get -4.34% from Jan 2008 to April 2008, so yes slightly slower fall this time around.
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"Accountancy and insolvency firm Moore Blatch has forecast that repossessions and distressed sales could be far worse than those in the crash of the 1990s.
It says this is mainly because the real picture is skewed because of activities by the sale-and-rent-back industry, which buys homes at significantly under-market value to rent back to their former owners.
The sector barely existed in the 90s, but has so far been responsible for over 50,000 distressed sales, according to the OFT.
Paul Walshe, head of lending services at Moore Blatch, said: “Comparing repossessions with the 90s and the current day is like comparing apples with pears. We should be looking at the totality of distressed sales, and by doing so we will see the position is much worse this time around.”
The sale-and-rent-back sector – widely seen as a cowboy industry – is due to be regulated this July"
Source:- News Story - Estate Agent Today
It says this is mainly because the real picture is skewed because of activities by the sale-and-rent-back industry, which buys homes at significantly under-market value to rent back to their former owners.
The sector barely existed in the 90s, but has so far been responsible for over 50,000 distressed sales, according to the OFT.
Paul Walshe, head of lending services at Moore Blatch, said: “Comparing repossessions with the 90s and the current day is like comparing apples with pears. We should be looking at the totality of distressed sales, and by doing so we will see the position is much worse this time around.”
The sale-and-rent-back sector – widely seen as a cowboy industry – is due to be regulated this July"
Source:- News Story - Estate Agent Today
Anectodally I can tell you that the number of repos fell in the last auction I viewed compared to the one before that.
The repos I see mainly fall into 2 categories a) ex council house type rubbish in crap areas b) city flats (some really nice ones) that were really overpriced in the first place.
This brings me all the way back to my main point. Perhaps, just perhaps, family homes in desirable areas won't see these huge 40% falls from peak?
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http://blog.cleanenergy.org/files/20...ad-in-sand.jpg
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You don't happen to live in a family home in a desirable area, do you?
http://blog.cleanenergy.org/files/20...ad-in-sand.jpg
http://blog.cleanenergy.org/files/20...ad-in-sand.jpg
As I said before I'd sell my house for 40% off peak in a heart beat if the next house up the ladder did the same. My whole point is that I don't see this happening as yet and am trying to understand why, and more importantly, will it actually happen
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Was only joking mate.
Just a case of waiting for sellers that want/need to move accepting a bit of realism.
Impossible to say what's going to happen as there are so many variables. I'm optimistic that there will be further falls...
Just a case of waiting for sellers that want/need to move accepting a bit of realism.
Impossible to say what's going to happen as there are so many variables. I'm optimistic that there will be further falls...
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You misunderstand me mate. If I moved it would be up the ladder, and so I'd be very happy with 40% falls, actually 70% falls would be even better for me in my personal circumstances.
As I said before I'd sell my house for 40% off peak in a heart beat if the next house up the ladder did the same. My whole point is that I don't see this happening as yet and am trying to understand why, and more importantly, will it actually happen
As I said before I'd sell my house for 40% off peak in a heart beat if the next house up the ladder did the same. My whole point is that I don't see this happening as yet and am trying to understand why, and more importantly, will it actually happen
All the indications are that the activity is under £250k ...... nothing happening above this, until you get to £5million - when price doesn't really matter much.
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Excellent article here:-
BBC NEWS | Business | Clear view of house price slump
An interesting point is this, "The scale of inactivity in the market was also shown by the figure revealing the number of property sales in England and Wales.
This dropped to 84,331 in the first quarter of 2009, compared with 114,974 in the previous three months and 167,050 in the first three months of 2008"
And we have the Estate Agents telling us that this Spring has been their busiest ever ... they wouldn't be telling us porkies, would they??
BBC NEWS | Business | Clear view of house price slump
An interesting point is this, "The scale of inactivity in the market was also shown by the figure revealing the number of property sales in England and Wales.
This dropped to 84,331 in the first quarter of 2009, compared with 114,974 in the previous three months and 167,050 in the first three months of 2008"
And we have the Estate Agents telling us that this Spring has been their busiest ever ... they wouldn't be telling us porkies, would they??
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Estate agents hyping? Never
I'm in almost daily discussions with a few over the houses I'm looking at. It's great hearing them try to explain why any particular house/street/area hasn't been affected by the dip, and will sell for its asking price.
And then the house they are on about either gets withdrawn from sale, rented out or dropped further.
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You misunderstand me mate. If I moved it would be up the ladder, and so I'd be very happy with 40% falls, actually 70% falls would be even better for me in my personal circumstances.
As I said before I'd sell my house for 40% off peak in a heart beat if the next house up the ladder did the same. My whole point is that I don't see this happening as yet and am trying to understand why, and more importantly, will it actually happen
As I said before I'd sell my house for 40% off peak in a heart beat if the next house up the ladder did the same. My whole point is that I don't see this happening as yet and am trying to understand why, and more importantly, will it actually happen
you are indeed right, a lot of the sales at the moment are repos and desperate people trying to sell before reposession, in decent areas of decent houses there are less sales but prices aren't being hit as badly, there just aren't enough sales to buck the statistics. Round us its only the 650k plus houses that seem to be selling and I'm sure they're not going for offers of 40% less, Of course if you live in a ropy area with massive unemployment then things are going to get hit harder but so far I'm in the south east and we're just not seeing it
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And there aren't enough for sale partly because people just aren't willing or able to sell at market value.
There's a bit of a Mexican Standoff going on. But the market will win as always - it will just take time.
There's a bit of a Mexican Standoff going on. But the market will win as always - it will just take time.
Last edited by fatherpierre; May 8, 2009 at 02:25 PM.
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Dave is upset as he cannot post anything of any interest.
Anyway, back to business ....
I have some details from an Estate Agent where they have now started putting things like this on their leaflets .....
Peak Price was £325,000 - Asking Price now £299,000 - suggested offer in excess of £260,000 (20% OFF Peak)
Cheeky gits!! I will offer what I choose to offer!
Anyway, back to business ....
I have some details from an Estate Agent where they have now started putting things like this on their leaflets .....
Peak Price was £325,000 - Asking Price now £299,000 - suggested offer in excess of £260,000 (20% OFF Peak)
Cheeky gits!! I will offer what I choose to offer!
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I love the estate agent speak when they say offers in excess of.......
All that does is make people look elsewhere, as people are generally non-confrontational and don't like to upset with lower offers.
All that does is make people look elsewhere, as people are generally non-confrontational and don't like to upset with lower offers.
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Estate Agents need shooting with their crap speak.
"Twatface Estate Agents are pleased to be favoured with instructions to market this wonderful property sitting in a garden of 10 foot x 10 foot, benefiting from a Kitchen and an Outside Loo"
To be favoured ..... WTF!?
How the hell can a property benefit from the basics of living?
"Twatface Estate Agents are pleased to be favoured with instructions to market this wonderful property sitting in a garden of 10 foot x 10 foot, benefiting from a Kitchen and an Outside Loo"
To be favoured ..... WTF!?
How the hell can a property benefit from the basics of living?
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Nah. Just interested in seeing how long you can keep the thread going. 
I'm renting myself at the moment, after selling last year, and wondering when/if to jump back on the ladder. Not seen anything to tempt me back yet ...... Mind you winning the £110M on Euromillions tonight *could* be a deciding factor ..... 
Dave
I'm renting myself at the moment, after selling last year, and wondering when/if to jump back on the ladder. Not seen anything to tempt me back yet ...... Mind you winning the £110M on Euromillions tonight *could* be a deciding factor ..... Dave
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you are indeed right, a lot of the sales at the moment are repos and desperate people trying to sell before reposession, in decent areas of decent houses there are less sales but prices aren't being hit as badly, there just aren't enough sales to buck the statistics. Round us its only the 650k plus houses that seem to be selling and I'm sure they're not going for offers of 40% less, Of course if you live in a ropy area with massive unemployment then things are going to get hit harder but so far I'm in the south east and we're just not seeing it
