Denial is rife about falling UK house prices

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More signs of a collapsing UK house market..........

Housebuilders suffer UK slowdown

BBC news 6th Sept

The slowdown in the UK housing market has hit the fortunes of two of the country's leading housebuilders, George Wimpey and Taylor Woodrow. Pre-tax profits at both firms fell in the first half of the year after the number of new UK houses sold declined..............cont

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for more news of falling house prices check this out....
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Reply to
Crowley

Its certainly a buyers market but I think would-be-buyers are well-advised to hang on for the time-being because it looks like prices have a lot further to fall.

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Reply to
Crowley

The big coming problem is the way oil is going to boost inflation - the B of England is playing nonsense economics if the increase ( or keep same ) intrest rates to 'cool off' this commodity price generated inflation. They should have cut it by at least 0.5 % last month.

Simon T.

Reply to
Simon T.

Guess it all depends whether the hack is an owner, BTLer or has sold up and is renting.

"The Halifax building society said seasonally adjusted monthly property values increased by 1.6% in August - the sharpest rise since September

2004." - The Guardian

One thing is sure, there are a lot of people who sold up and moved into rented accomodation a while back who will get severely singed if there isn't a severe drop in house prices soon.

Reply to
davidof

I very much doubt there are a lot...there are a lot talking about it and telling others to sell upt, but very few who actually take their own advice. I dont think Crowley has for example.

Reply to
Tumbleweed

what makes you think that ?

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Reply to
Crowley

On working lunch on Friday they claimed there were a lot too, but they didn't give any evidence.

I was surprised that asking prices in my area (Bournemouth) have continued to rise over the last 12 months - big shame as I'm hoping to move but was hoping for a HPC to make my jump more affordable.

Reply to
davidof

ISTR I asked you and you said you hadn't. If you have, just say so here, it would have been less typing than the URL you posted, and I certainly cant be arsed to look through a forum to see if you claim to have, and no doubt neither can most others...dare I say 'lots'.

Reply to
Tumbleweed

Huh?

The price of oil is increasing, the pound is lower due to reduced interest rates thereby making the price of oil worse, and you think they should massively _reduce_ interest rates when the rest of the world is raising their? So the pound crashes, oil becomes even more expensive and inflation even higher?

Now _that_ is what I call 'nonsense economics'.

Back in the real world, there is nothing the Bank of England can do to save us from an economic catastrophe after creating a huge artificial boom by running insanely low interest rates for years. If they reduce rates then the pound won't be worth wiping your arse with and inflation will explode, if they raise interest rates the whole debt-based economy will crash. If they continue to hold interest rates, they just put off the decision until the market makes it for them.

Still, at least once the US economy -- which is even worse off than ours -- crashes, the price of oil will drop :).

Mark

Reply to
mmaker

In message , snipped-for-privacy@my-deja.com writes

Well and truly on the fence!

Somebody has to make a decision to do one of the above, and believe that it is the best decision - I'm glad it's not you.

Our insanely low interest rates have been higher than Europe, the US and Japan, so the whole world must have been wrong.

Raising interest rates to support the pound has failed miserably in the past - it started the last recession. I think we are fairly strong against the dollar, and arent fluctuating much against the euro, so no apparent need to worry about the currency at the moment.

The rising oil price is something which needs to be dealt with, and it may be that a massive reduction in demand will have an effect.

There is no question that consumer spending has fallen over the past 12 months, and increased prices due to oil will tend to maintain this, so I would favour lowering interest rates a little further, but may wait a month or two to see how things go.

Reply to
Richard Faulkner

Ditto here in Manchester, and properties are still selling, albeit with much less frenzy. Flats which were £190 per sq.ft. a year ago now seem to be around £220 per sq.ft., although I am looking at a fairly small area of Manchester.

Reply to
Richard Faulkner

bit still a soupçon of frenzy eh?

Ok, now keep looking at it.....keep looking!!!....poooffft!!!...it's gone.

Reply to
curiosity

"curiosity" wrote

Are you trying to describe something, or create it? Seems much more like the latter!

Reply to
Tim

In message , curiosity writes

I'm only commenting! I appreciate that it cant go on indefinitely, and am as surprised as anyone else at what is happening.

As I've said before, i really am not bothered whether prices rise or fall. I stopped buying about a year ago, and have sold the last property that I want to for the time being.

Reply to
Richard Faulkner

neither

Reply to
curiosity

"Doug Ramage" wrote

But isn't it really just a welfare benefit system, paid out of taxation? So if that's illegal, aren't *all* welfare benefits illegal? :-(

Reply to
Tim

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