July House Price Thread - down 11% year on year (Halifax)
 

THE CROWN BLOGSPOT: Neil skewers Jowell

Halifax haven't officially released this months data yet (think its expected tomorrow), but seems it could be an even bigger drop meaning year-on-year prices are down 11%? (see above link)

I've been expecting this crash to be huge, but I'm still amazed at the speed things have happened. Whereas I would have expected 30% falls from peak, 50% falls now doesn't look unrealistic.

Housing downturn worse than early 1990s | Personal Finance | Reuters

Things do look like they're about to get very nasty. Don't get me wrong - I'm welcoming the massive house price crash, but not the associated economic mess! My firm has already cut 15% of the workforce this year, and with some of our customers getting into difficulty there will probably be more cuts at some point :eek:

It's just lucky that while the economy was doing ok Labour have been tucking money away for the rough times, and looking after the UK's gold reserves..... :rolleyes:

Just got details of a 1930's bay fronted detached house on a corner plot in Bournemouth ... few hundred yards from the cliff top, in need of modernisation.

To go to Auction - Guide Price £160,000 ..... OK, it's low to attract interest - but, what will it go for? £180,000? £170,000?

Whatever it is it will be much less than 1 year ago - I would suggest a drop of about 30% along the South Coast has already occurred?