House price crash

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/8125728.stm

UK house prices rose by 0.9% in June, according to the latest survey from the Nationwide building society.

It said this was the third rise in the past four months, and shrank the annual rate of decline to just 9.3%, from 11.3% in May.

The increase in prices during the past month means the average home now costs £156,442, which is £15,973 less than a year ago.

The Nationwide said the stabilisation of prices was a "welcome surprise".

Since their recent low point in February, of £147,746, average UK house prices as measured by the Nationwide have now risen by £8,696.



Safe as houses. You can't beat bricks and mortar. House prices only ever go up.

The BTL brigade must be laughing their rocks off.

[sasguru]

http://news.bbc.co.uk/1/hi/business/8125728.stm

UK house prices rose by 0.9% in June, according to the latest survey from the Nationwide building society.

It said this was the third rise in the past four months, and shrank the annual rate of decline to just 9.3%, from 11.3% in May.

The increase in prices during the past month means the average home now costs £156,442, which is £15,973 less than a year ago.

The Nationwide said the stabilisation of prices was a "welcome surprise".

Since their recent low point in February, of £147,746, average UK house prices as measured by the Nationwide have now risen by £8,696.



Safe as houses. You can't beat bricks and mortar. House prices only ever go up.

The BTL brigade must be laughing their rocks off.

Told you so.

[DimPrawn]

I stupidly thought the worse economic crash since the Great Depression, coupled by massive unemployment, coupled with unsustainable government debt might have made people think twice about paying near peak prices, but it seems that the British public will stop at nothing to buy property.

Sadly I converted all but my own home to cash, which is sitting awaiting a crash that will never come.

Never mind.

[BlackenedBiker]

Patience Skywalker.

Wait and see.....

[minestrone]

Sold up in Feb 2007, bought again this month. Think I have probably made about 100,000 k

[Menelaus]

I fear that we may be in a W-shape and that this is the calm before the true storm.

/doom

[Moscow Mule]

Bull trap or bull crap? I can't decide...

[KentPhilip]

No this is a bull trap. Which means that prices go up a bit after the first declines to sucker more people into the market. Then the real decline begins.

Volumes are very light at the moment. Nobody can afford to sell cos they are in negative equity, and nobody can get a mortgage to buy.
Soon the dam will break with massive repossessions, and mansions for sale at pennies on the pound.

Down 25% this time next year.

http://www.housepricecrash.co.uk

[dang65]

I fear that we may be in a W-shape and that this is the calm before the true storm.

/doom

That's called "catastrophism". It's not very good for your health you know, although it might get you a job at the BBC.

[d000hg]

Sold up in Feb 2007, bought again this month. Think I have probably made about 100,000 k

The same house?!