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AtW
8th May 2017, 13:26
Halifax claims prices are falling with even surveyors starting to reduce valuations as inflation squeezes household finances and dents demand

House prices fell again in April and are now nearly £3,000 below their peak in December 2016, amid broadening evidence of a slowdown in the UK property market.

The average property fell in value by 0.1% in April, according to data from Halifax. Although this is not as steep as the 0.4% monthly fall recorded by Nationwide, it puts both major indices on a similar downward trend.

Halifax said the average price fell to £219,649 in April from £219,788 in March. House prices reached an all-time peak of £222,190 in December 2016. The annual rate of price inflation remained at 3.8% in April, Halifax said, the lowest rate for four years.

Halifax housing economist Martin Ellis said: “Housing demand appears to have been curbed in recent months due to a deterioration in housing affordability driven by the sustained period of rapid house price growth during 2014-16. Signs of a decline in the pace of job creation, and the beginnings of a squeeze on households’ finances as a result of increasing inflation, may also be constraining the demand for homes.”

More from the source: https://www.theguardian.com/money/2017/may/08/are-uk-house-prices-starting-to-fall-the-halifax-thinks-so

DOOMED!!!

jamesbrown
8th May 2017, 13:30
I think we can all agree, this is excellent news. Hopefully the beginning of sustained, gradual, price declines. :D

You shouldn't feel too bad, AtW. You didn't buy at the absolute peak. :D

AtW
8th May 2017, 13:32
I plan to buy 10 more and thus reduce my average buy price.

HTH

jamesbrown
8th May 2017, 13:37
I plan to buy 10 more and thus reduce my average buy price.

HTH

Excellent idea. If you resell some of them to yourself ("circular economy"), you can also rest assured that some of those purchases were absolute bargains.

BrilloPad
8th May 2017, 13:39
I bet London prices are still going up....

jamesbrown
8th May 2017, 13:41
I bet London prices are still going up....

Most are, but Sasguru's is going down because he's special.

BrilloPad
8th May 2017, 13:43
Most are, but Sasguru's is going down because he's special.

A while ago he moved from HMP Wandsworth to HMP Send. I believe when he gets he is doing something on the Continent. The German job or something?

jamesbrown
8th May 2017, 14:02
A while ago he moved from HMP Wandsworth to HMP Send. I believe when he gets he is doing something on the Continent. The German job or something?

I don't really pay attention to Sas, especially when he's out of the country. All I know is that Sas has been the main drag on local prices. For a true crash (and overall decline in GSCE Maths pass grades), we need scooty and Sas in the same neighborhood. :eek:

scooterscot
8th May 2017, 14:12
I bet London prices are still going up....

You're confused. The value of the pound is dropping :tongue

Pip in a Poke
8th May 2017, 14:48
To Yerevan my friend...

Mordac
8th May 2017, 18:27
You're confused. The value of the pound is dropping :tongue

Good for foreign buyers. It also means foreign owners are less likely to sell and repatriate their cash at a lower rate.

dotcom12
8th May 2017, 19:26
Woohoo, its time to buy

DimPrawn
8th May 2017, 19:28
Woohoo, its time to buy

Yes, been going up 10% pa since 2009, and now they've dropped 0.1%

Fill yer boots!

sasguru
8th May 2017, 19:39
I think we can all agree, this is excellent news. Hopefully the beginning of sustained, gradual, price declines. :D

D

:laugh:laugh Please don't tell me you think house price falls will work wonders for the British economy. You sound like the Mauve Monkey. Not even SB is that stupid. You've been educated beyond your intelligence haven't you? :laugh

jamesbrown
8th May 2017, 19:46
:laugh:laugh Please don't tell me you think house price falls will work wonders for the British economy. You sound like the Mauve Monkey. Not even SB is that stupid. You've been educated beyond your intelligence haven't you? :laugh

Watcha, Sas. Like a fly to a turd. :laugh I'm starting to wonder if that "kick me" sign was your own doing. :D

sasguru
8th May 2017, 19:48
Watcha, Sas. Like a fly to a turd. :laugh I'm starting to wonder if that "kick me" sign was your own doing. :D

Enjoy your one bed. You won't be moving:laugh

jamesbrown
8th May 2017, 19:59
Enjoy your one bed. You won't be moving:laugh

I can see beyond the end of my nose, Sas. :D

sasguru
8th May 2017, 20:01
I can see beyond the end of my nose, Sas. :D

Maybe. but you don't come across as very bright ...

jamesbrown
8th May 2017, 20:34
Maybe. but you don't come across as very bright ...

Like I said, I think you "get off" on being kicked. :D

sasguru
8th May 2017, 20:40
Like I said, I think you "get off" on being kicked. :D

Oh, Is that what you imagine you're doing? :laugh
Carry on, quite amusing.

jamesbrown
8th May 2017, 21:11
Oh, Is that what you imagine you're doing? :laugh
Carry on, quite amusing.

Stand down, private, I'm just shooting the breeze. :D More of a general observation, really. You seem to like being kicked.

SandyD
9th May 2017, 06:32
London estate agents have begun to offer free cars worth £18,000, stamp duty subsidies of £150,000, plus free iPads and Sonos sound systems to kickstart sales in the capital’s increasingly moribund property market.

https://www.theguardian.com/business/2017/may/03/buy-a-home-get-a-car-free-offers-galore-as-london-estate-agents-struggle-to-sell?CMP=fb_gu