David Lock

No surprises there.

Slump vs inflation

dl

SunnySideUp

There was never going to be any change this month - it was about as certain as it was possible to be.

House Prices in freefall .... falling faster than even in 1990. I lived through the 1989 - 1994 housing market buying and selling .... it really wasn't as fast and viscious a fall as I am witnessing right now.

Gear Head

iTrader: (2)

Prices have hardly budged round here in Medway. Our flat was valued at £135000 6 months ago and one just sold for £133500. Don't know what all the fuss is about. Scare-tactics most probably.

turbogav

Yeah, agree that prices haven't really moved much round here (Hampshire)either. I think its the fact that hardly anything is selling which will inevtiably lead to further price cuts so its going to get a lot worse rather than better for the time being.

SunnySideUp

Hampshire???

I'm in Hampshire ........... and prices are falling, houses aren't selling either!!

I'm in Hampshire, planet Earth ..... which planet is your Hampshire on??

turbogav

Seriously???
We've been thinking of moving for a while and although not much is selling, they're not coming down much either, been keeping an eye on a few and they've come down a bit £10k or so on a £250k house, but hardly a big drop, is it?

PeteBrant

It entirely depends on when the house was valued at £250K obviously.

If the 10K drop has happend in a week, then, yes, it is a huge drop. ..

http://www.nationwide.co.uk/hpi/downloads/All_prop.xls

As it turns out, the average propert price in the South East (not including london) has fallen from £215375 to £204292 since Q4 2007.

Gear Head

iTrader: (2)

Exactly, a 5% drop is not exactly huge is it? Not when you consider that many rose by as much a 15% per year for 5 consecutive years.

shamrock

It's dropped roughly 5% in a few months. If it carries on at that rate then the 5 years of increases could be wiped out in just 2 years!