UK house prices fall by record 3.6% in a MONTH!
#1
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UK house prices fall by record 3.6% in a MONTH!
I feel for those who have just migrated here and haven't been able to sell or are trying to sell their house in UK. That and the exchange rate. .
Is this the start of a US style drop in UK house prices? Who would of thought that an island as tiny and cramped as UK could suffer house price falls, it's all about supply and demand they tell me.
http://www.telegraph.co.uk/finance/e...n-a-month.html
Is this the start of a US style drop in UK house prices? Who would of thought that an island as tiny and cramped as UK could suffer house price falls, it's all about supply and demand they tell me.
http://www.telegraph.co.uk/finance/e...n-a-month.html
UK house prices fall by record 3.6pc in a month
The UK housing market has suffered a shock as figures from the Halifax revealed the average price of a property dropped more than £6,000 in September.
Published: 8:46AM BST 07 Oct 2010
The UK housing market has suffered a shock as figures from the Halifax revealed the average price of a property dropped more than £6,000 in September.
Published: 8:46AM BST 07 Oct 2010
#2
Re: UK house prices fall by record 3.6% in a MONTH!
It is a worry as we still have our house there.
Although short term (one month) breaking news doesn't worry me too much yet.
The £ to $AUD exchange rate worries me more.
Although short term (one month) breaking news doesn't worry me too much yet.
The £ to $AUD exchange rate worries me more.
#3
Re: UK house prices fall by record 3.6% in a MONTH!
I put mine up for sale 3 days ago
I think with falls like that the price is irrelevant, you just won't get a buyer at all.
I think with falls like that the price is irrelevant, you just won't get a buyer at all.
#4
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Re: UK house prices fall by record 3.6% in a MONTH!
Anything to do with the 4.6% rise reported in August ?
http://www.bbc.co.uk/news/business-11491015
http://www.bbc.co.uk/news/business-11491015
House prices fell by 3.6% in September from the previous month, according to the Halifax the largest fall on record.
However, the bank, now part of the Lloyds Banking Group, said it was too early to conclude that this was the start of a sustained fall in prices.
The three-month on three-month comparison, seen as a smoother measure of prices showed a 0.9% drop in September.
The average UK home is now valued at £162,096, the survey found.
Prices remained 2.6% higher than a year ago, the figures show, although this was down from a 4.6% rise reported in August.
However, the bank, now part of the Lloyds Banking Group, said it was too early to conclude that this was the start of a sustained fall in prices.
The three-month on three-month comparison, seen as a smoother measure of prices showed a 0.9% drop in September.
The average UK home is now valued at £162,096, the survey found.
Prices remained 2.6% higher than a year ago, the figures show, although this was down from a 4.6% rise reported in August.
#5
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Re: UK house prices fall by record 3.6% in a MONTH!
However, the bank, now part of the Lloyds Banking Group, said it was too early to conclude that this was the start of a sustained fall in prices.
Who knows what is going to happen but I can't see anyone wanting to buy a home in UK this side of Christmas, so I'm expecting continued falls in UK.
ABCDiamond, do you feel that this is a blip and that UK house prices will recover shortly? Are you that optimistic?
#6
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Re: UK house prices fall by record 3.6% in a MONTH!
and yet YOU have quoted the same bank for your 3.6% House Fall story
Do you only believe one side of the story, the negative bit ?
I read the full stories, not just the headlines, and try to get a better idea of what MAY happen.
That story said UP 4.6% in one month, down 3.6% in another month, with the three month change being down 0.9%.
You chose to push the "Down 3.6%" and ignore the rest.
I chose to look at the whole story.
It looks like a slow trend downwards, but who knows how things could change ? Will prices drop back to last years figure ? ie: another 2.6% NET fall.
Do you only believe one side of the story, the negative bit ?
House prices fell by 3.6% in September from the previous month, according to the Halifax the largest fall on record.
However, the bank, now part of the Lloyds Banking Group, said it was too early to conclude that this was the start of a sustained fall in prices.
<snip>
Prices remained 2.6% higher than a year ago, the figures show, although this was down from a 4.6% rise reported in August.
However, the bank, now part of the Lloyds Banking Group, said it was too early to conclude that this was the start of a sustained fall in prices.
<snip>
Prices remained 2.6% higher than a year ago, the figures show, although this was down from a 4.6% rise reported in August.
That story said UP 4.6% in one month, down 3.6% in another month, with the three month change being down 0.9%.
You chose to push the "Down 3.6%" and ignore the rest.
I chose to look at the whole story.
It looks like a slow trend downwards, but who knows how things could change ? Will prices drop back to last years figure ? ie: another 2.6% NET fall.
#7
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Re: UK house prices fall by record 3.6% in a MONTH!
Who knows what is going to happen but I can't see anyone wanting to buy a home in UK this side of Christmas, so I'm expecting continued falls in UK.
ABCDiamond, do you feel that this is a blip and that UK house prices will recover shortly? Are you that optimistic?[/QUOTE]
BUT it is very regional -we are looking to buy now (don't really like the money sat in the bank unprotected)- we are cash buyers and have put in offers for 4 houses in the last 2 months and not got any of them - they have all gone over the asking price.
To all those trying to sell good luck and don't take much notice of the headlines they'll only depress you - things ARE selling just taking a little longer.
ABCDiamond, do you feel that this is a blip and that UK house prices will recover shortly? Are you that optimistic?[/QUOTE]
BUT it is very regional -we are looking to buy now (don't really like the money sat in the bank unprotected)- we are cash buyers and have put in offers for 4 houses in the last 2 months and not got any of them - they have all gone over the asking price.
To all those trying to sell good luck and don't take much notice of the headlines they'll only depress you - things ARE selling just taking a little longer.
#8
Re: UK house prices fall by record 3.6% in a MONTH!
#9
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Re: UK house prices fall by record 3.6% in a MONTH!
We sold our house back in July for I think a good amount, there was a bit of opimism around following the general election and the good summer weather in June. A house on the same street as we used to live went on the market a month ago for an amount less than we accepted on our house, exactly the same style house but on the market for a good £18,000 less than what we started at back in April. So if their starting price is already well below the final offer we accepted then what will the final difference be!
#10
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Re: UK house prices fall by record 3.6% in a MONTH!
Only one thing for me to do then and that's to continue renting out my house in the UK (fortunate I know) and use the exchange rate in my favour by sending money over monthly to go towards paying off the mortgage. We will consider selling when things change.
#12
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Re: UK house prices fall by record 3.6% in a MONTH!
$1.63 to £1 seems fine by me
#14
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Re: UK house prices fall by record 3.6% in a MONTH!
Got it
#15
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Re: UK house prices fall by record 3.6% in a MONTH!
Yes and good advice to anyone emmigrating right now, don't sell, rent it out, and pay off the mortgage with strong Aussie dollars, the UK housing market may well dip for a while, but unless you've bought very recently you're likely to still be up on the value. If more people are putting off buying a house in the UK, that's more demand for rentals. You can't lose really, every cloud has a silver lining.