House prices to crash

[larus]

the markets are also taking into account good news which some seemed determined to ignore: higher than expected growth, increased manufacturing output (in the UK and US, not just China), increased employment (320k new jobs), highest manufacturing recruitment for a decade, earnings across the UK FTSE350 increased 1/3...

remember, the stock market is based on sentiment of where the economy is going, not looking back to the past 2 years.

But a lot of these jobs were part-time and the increase in earnings from a low previous position. Statistics can be used to represent any position.

 

[Westdene Seagull]

Yeah good innit.

This 'bounce' was anticipated following the dramatic 3.7% drop last month and reveals the volatility in the market due to very low volume sales.

In the sleepy hollow of Bishops Stortford friends of ours just sold for £1.55m and bought for £1.8m. Imagine what that did to the local figures.

Average UK house price in Oct 2009 was £164,990 and for Oct 2010 is £164,919, so any gains over the last year have been wiped.

Now if it goes up again next month I may have to re-think.

Strange how you never post the positive news !!!

Look the graph at the bottom of the article - clearly shows price increases have slowed but they haven't crashed - or indeed dropped !!!

Something Uncle C would rather you didn't read !

 

[Uncle C]

Strange how you never post the positive news !!!

Look the graph at the bottom of the article - clearly shows price increases have slowed but they haven't crashed - or indeed dropped !!!

Something Uncle C would rather you didn't read !

Thanks for posting that, saves me a job.

I'll leave others to decide if the graph shows house prices going up or down.

 

[Barrel of Fun]

Well, house prices are going up according to that graph, but to a lesser extent.

 

[Uncle C]

Well, house prices are going up according to that graph, but to a lesser extent.

Please remember its a year on year graph.

Let me give you a bit of a clue. In Jan the average UK house price was £169,484, in March it was £168,433 and today its £164,919

 

[Tim Over Whelmed]

Yeah good innit.

This 'bounce' was anticipated following the dramatic 3.7% drop last month and reveals the volatility in the market due to very low volume sales.

In the sleepy hollow of Bishops Stortford friends of ours just sold for £1.55m and bought for £1.8m. Imagine what that did to the local figures.

Average UK house price in Oct 2009 was £164,990 and for Oct 2010 is £164,919, so any gains over the last year have been wiped.

Now if it goes up again next month I may have to re-think.

Not if .... when it goes up next month!

 

[sten_super]

House prices, on a quarterly basis, are falling, but at nothing like the rates seen in the second half of 2008. As larus points out, you can use this data to prove whatever point you care to make. Monthly numbers are inherently volatile, especially with transactions as low as they are; however the same factor means that even the quarterly numbers are less reliable than normal (as they are based on a much smaller sample).

 

[Uncle C]

House prices, on a quarterly basis, are falling, but at nothing like the rates seen in the second half of 2008. As larus points out, you can use this data to prove whatever point you care to make. Monthly numbers are inherently volatile, especially with transactions as low as they are; however the same factor means that even the quarterly numbers are less reliable than normal (as they are based on a much smaller sample).

Agreed.

 

[larus]

Not if .... when it goes up next month!

Ahh, he sees the future .

Now, you may be right; you may be wrong, but it's a guess, not a fact....

 

[Barrel of Fun]

BBC News - Rok enters administration

 

[sten_super]

BBC News - House prices still falling, surveyors say

So RICS say that house prices are continuing to fall, however they also note that the number of houses being put up for sale is falling, which they believe will prevent freefalling prices.

 

[Jesus Gul]

BBC News - Rok enters administration

shame - they are a good co.

Sussex contractor Llewellyn were merged into Rok several years back

 

[e77]

This thread has been going since the last housing crash.

 

[Tim Over Whelmed]

Ahh, he sees the future .

Now, you may be right; you may be wrong, but it's a guess, not a fact....

Sainsbury's profits ... UP

TUI bookings ... UP

Falmer ... UP

What's not to like and look forward to ... For housing crisis *, read stagnent market picking up come Mar '11.

* It should be noted that this conclusion has been drawn from years and years of determined optimism, talk a market up it rises, talk it down it falls ... your choice chaps!

 

[sten_super]

The OBR in their press release today saying that they expect house prices to fall 3.1% in 2011.

 

[Uncle C]

The OBR in their press release today saying that they expect house prices to fall 3.1% in 2011.

Well that's a bit of a turn around for them. Just 6 months ago they were predicting a rise of 2.3% for next year.

 

[larus]

Sainsbury's profits ... UP

TUI bookings ... UP

Falmer ... UP

What's not to like and look forward to ... For housing crisis *, read stagnent market picking up come Mar '11.

* It should be noted that this conclusion has been drawn from years and years of determined optimism, talk a market up it rises, talk it down it falls ... your choice chaps!

Greece - bailout.
Ireland - bailout.
Portual - will be bailed out (according to reports from Portugese politicians, it's not a case of if but when).
Spain - Huge problems.
Italy/Belguim - questions over their budgets/sovereign debt.

All this will have an impact on us and our economy. This QE is 'kicking the can down the road' (IMO).

 

[Stoo82]

Greece - bailout.

Greece - Cant pay back the first instalment.

The IMF or somone is going to have to take control of the Greek government. Its a bloody mess. Everytime a new government come in, the appoint their own staff at offices all over the country. BUT, they cannot sack the previous staff. So there are 5 people doing 1 persons job. This is true, its so bad some people dont go into work because there is nowhere for them to sit or even to work at! No desk for them because the other 4 people are working on it! They still get paid though. Thats including the hospitals who employ 15 garderners but have no gardens.

I truely believe the EU has no idea how f***ed Greece is and it wil bring down the Euro.

 

[Billy the Fish]

This is true, its so bad some people dont go into work because there is nowhere for them to sit or even to work at! No desk for them because the other 4 people are working on it! They still get paid though. Thats including the hospitals who employ 15 garderners but have no gardens.

I truely believe the EU has no idea how f***ed Greece is and it wil bring down the Euro.

Sounds like my kind of job, where do I get an application?

 

[Stoo82]

Sounds like my kind of job, where do I get an application?

Join a Greek union and you'll be fine! But you wil have to go on strike every 4 days and march on Syntagma Square once a year. Oh and if you get promoted you may have to set a bin on fire