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Houses -1% in December - WE ARE DOOMED!

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    Houses -1% in December - WE ARE DOOMED!

    DOOMED!!!!! DOOMED!!!!!!!!!!

    http://news.bbc.co.uk/1/hi/business/6233339.stm

    House prices 'rose 9.9% in 2006'

    Newry: house prices rose by more than 50% in N. Ireland
    House prices across the UK rose by an average of 9.9% in the course of 2006, according to the Halifax bank.
    The report from the country's biggest mortgage lender confirms the view that property price inflation accelerated last year.

    The biggest increases were in Northern Ireland where prices rose by 53%.

    During December, the average UK price dropped by 1%, to £186,035, but the Halifax said it was to early to suggest prices were now about to cool off.

    "It remains too early to conclude that this indicates a genuine slowdown in the housing market," said the Halifax's chief economist Martin Ellis.

    "Overall, prices in the final quarter of 2006 were 4.2% higher than in the previous quarter, marking the strongest quarterly rise since 2004 Q2," he pointed out.

    Industry predictions

    The report from the Halifax chimes with that of many other industry experts.

    Last week the Nationwide building society put house price inflation for 2006 at 10.5%.

    As with the Halifax, its survey was based on a sample of its own lending to customers and the prices they pay for houses and other residential properties.

    The brisk pick up in house price inflation last year confounded the expectations of many market commentators who had predicted that price rises would be much more subdued.

    In line with many others, the Halifax is now expecting something of a slowdown, partly thanks to the two recent increases in interest rates and the prospect of more to come.

    "Continued economic growth, rising employment and an ongoing lack of supply will continue to drive up house prices over the coming months," said Mr Ellis.

    "Higher interest rates, greater pressure on household finances and subdued real earnings growth will, however, constrain housing demand. We expect house prices to increase by 4% in 2007."
    I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.

    #2
    Originally posted by Francko
    During December, the average UK price dropped by 1%, to £186,035, but the Halifax said it was to early to suggest prices were now about to cool off.
    What sort of tulipehole is the "average" person living in? £186k wouldn't get you a dog kennel in most parts of London.

    Comment


      #3
      Originally posted by Captain Jack
      What sort of tulipehole is the "average" person living in? £186k wouldn't get you a dog kennel in most parts of London.
      Average "UK" price.
      I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.

      Comment


        #4
        City money will maintain the momentum for a while more (1-2 years), at least in London and the SE. Rising interest rates and dodgy economics will eventually take their toll. I expect the crash around 2009 and 2010. Enough time to build up a nest-egg and buy 'em cheap.
        I'll be a millionaire by around 2015.
        Hard Brexit now!
        #prayfornodeal

        Comment


          #5
          Originally posted by Captain Jack
          What sort of tulipehole is the "average" person living in? £186k wouldn't get you a dog kennel in most parts of London.
          £350k for a council flat in hackney


          And I thought you couldn't polish a turd
          The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

          But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

          Comment


            #6
            There is only one certainty for the 2007 housing market.

            Grey Slates will remain - Grey Slates.

            Comment


              #7
              Originally posted by AlfredJPruffock
              There is only one certainty for the 2007 housing market.

              Grey Slates will remain - Grey Slates.

              and everyone wants some over there head, and there are more, and more and more people all the time, but not many more grey slates...
              SA says;
              Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!

              I couldn't imagine you ever having a hair out of place!

              n5gooner is awarded +5 Xeno Geek Points.
              (whatever these are)

              Comment


                #8
                Originally posted by Captain Jack
                What sort of tulipehole is the "average" person living in? £186k wouldn't get you a dog kennel in most parts of London.
                I have a 1 bedroom flat in Southfields which is in between Putney and Wimbledon, ok its on a council estate but its not one of those really dodgy almost pikey types and a lot of it is rendted to quite well of people. Lots of nice BMWs and mercs parked around.

                Then again to say the price of my one bedroom flat would buy a house 2-3 bedroom in most parts of the country is a tad annoying

                Comment


                  #9
                  The BBC are reporting insolvencies continuing to rise.
                  The firm (accountants Grant Thornton) says 2006 will have seen more than 100,000 personal insolvencies. It says there will be even more in 2007.

                  It blames the increasing trend on greater borrowing and spending, higher interest rates and big utility bills.
                  When is the mortgage tipping point?

                  Comment


                    #10
                    Originally posted by Mervalous
                    I have a 1 bedroom flat in Southfields which is in between Putney and Wimbledon, ok its on a council estate but its not one of those really dodgy almost pikey types and a lot of it is rendted to quite well of people. Lots of nice BMWs and mercs parked around.

                    Then again to say the price of my one bedroom flat would buy a house 2-3 bedroom in most parts of the country is a tad annoying
                    How can you bring yourself to live in a council hovel?
                    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                    Comment

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