House Prices Down in April

bordercollie's picture

Just wondered if anyone else had been trying to follow the property market.

I just notice about a week ago that haouse prices were down by 0.1%. Not the largest amounts but should make a little difference.

I also noticed that the bank of England maintains the bank rate at 0.5 %.

Can things get any better for us and should we all rush out and buy like crazy or is that just going to bang the price up for everything not just housing.

Anyone else got any property news about buying / to / let etc. Would love to here back to see what others have to say on this topic.

bordercollie

mouse4u1's picture

Tongue Hey there bordercollie. I also noticed that report about house prices coming down well only by that very small fraction and that the bank rate was the same as well.

They should drop that bank rate even lower I think.

Mouse Tongue

Mouse

fredjones62's picture

So house prices have come down a bit then. That has got to be a good thing then. I think they need to come down a bit more yet.

I don't know everything has gone crazy. I think everyone has got to greedy you know.

To think you could put something like £5000 down as a deposit. When I bought my first 3 bed bungalow with large garden and garge it was only £5000 but back then that was a hell of a lot of money. You do not get much for that in todays prices on no matter what you buy.

Fred

Fred

coolseeker's picture

Hmmm, now I am utterly confused! On one forum there is a lady wanting to buy a holiday rental property; on another there is a guy that is complaining about how property prices have just gone up; and on this one you are saying that they have gone down?! Please will somebody clarify this!

SteveDaWonder's picture

Prices are down? I thought they were at an all time high! My aunt, who is a real estate agent, has been complaining bitterly about how bad the market is at the moment. Apparently nobody can afford to buy property, even in the less desirable areas (or maybe they just aren't willing to spend that amount of money on a house in a bad area)... makes you think

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  • The house price index maths!!!?

    the house price index for a flat in leeds was 190 in august 2006,compared with the base of 100 in april 2000

    write down the percentage increase in the price of flats in leeds in that period.


    A flat cost £80,000 in april 2000.

    what was its likely value in august 2006?
    If the base was 100 and increased to 190, the percentage increase is 90%.

    August 2006 value = £80,000 x 190/100 = £152,000.
  • Are you worried about the UK economy?

    On a macro level it appears rather robust with growth at 2.1%.

    BUT for medium and small businesses costs are escalating. This is a major worry as these sectors are the most economically robust and provide the greatest employment.
    Contrary to all government propaganda- small and medium sioze businesses employ far more people than corporations, contribute far more revenue and are not subsidised anywhere near as heavily

    Furthermore, CPI and RPI indexes are higher than the EU, wages are Negative in real growth so far this year (4.0%well below retail price inflation of 4.5%+ in April) + rising food prices reducing income for mortgage. Annual food price inflation reached 6.0% in April, highest in 6 years."

    HPI has it 10%, slightly down and we have a new national historic house price high, most especially when expressed as a ration of real earnings.
    Interest rates are predicted to rise 0.25% in 2007.

    Thus- very unhealthy prospects for all consumer based economy.

    Your thoughts?
    Forget the percentages, they hide the truth. Our economy is in decline. If we didn't have the market force with housing then the whole thing would go down the drain. This has already happened in America - look for the market results on the Wolsley Group - one of thie largest players in home improvement in the States. They have already layed off and are continuing a programme to lay of even more THOUSANDS of staff. In the uk the company are generally known under the names of plumbcentre and buildcentre and draincentre. Already their branches are showing signs of decline and in fact the whole industry will do so for at least three more months. This is reasonably normal given the holiday period, but it will pick up marginally due to the unfortunate/fortunate problems with flooding - every cloud has a silver lining for someone - this is reality - even though i don't particularly like this one. However, take out the housing market and what are we left with ? Investments. That's it folks! Precious little production of anything else in the UK! How many years will it take before the true tradesmen will have died off , and their skills in all sorts of production now going to China and Indonesia because of the lower labour costs, will have died with them ? In real terms no more than 30. Is this what we have become ? The greatest trading nation and the true father of democracy and with the mother of parliaments - subservient to a Europe made up of nations who allied against us or had to be freed by us at a horrendous cost to the young men and women from our once Glorious Nation ? We have been led through the nose by the masters of spin, the windbags of westminster, the smoke and mirrors of team Blair and now Brown and their ilk for too many years. None of them have or ever could run a business profitably! Yet, they would teach us all how to pay tax AGAIN, and AGAIN and AGAIN! Our economy is 'shot to hell!'
  • Is this the price to pay after you make a pact with the devil?

    When Pakistan's North West Frontier Province government ceded authority to the Taliban under a peace deal, giving them almost a free hand to impose their puritan Islamic rule on the around 600,000 people of Swat and its seven neighbouring districts, why didn't they stop to realise that innocent people like this young girl would be paying the price??

    London, April 3 (IANS) A 17-year-old screaming, burqa-clad girl was whipped by Taliban fighters in Pakistan's restive Swat Valley for coming 'out of her house with another guy who was not her husband', a two-minute video shot through a mobile phone showed.

    The video showed the girl face down on the ground. Two men held her arms and feet while a third, a black-turbaned fighter with a flowing beard, whipped her repeatedly, the Guardian reported.

    The newspaper said it received the video through Samar Minallah, a Pashtun documentary maker.

    'Please stop it,' the girl begged repeatedly. 'Either kill me or stop it now.'

    After 34 lashes the punishment stopped and the wailing girl was led into a stone building.

    'She came out of her house with another guy who was not her husband, so we must punish her. There are boundaries you cannot cross,' the Guardian quoted Taliban spokesman Muslim Khan as saying.

    The punishment was meted out within last 10 days, Minallah said.

    'This video is being widely circulated because the Taliban want people to see it. They want to give the message that this is taking place after the peace deal because this is something they ideologically believe in,' the newspaper quoted her as saying.

    The girl's brother is among the men who pinned her down, she added. 'It's symbolic that he does it with his own hands. It gives him honour in local society, that he has done it for the sake of religion.'

    The peace accord signed with pro-Taliban cleric Maulana Sufi Mohammad includes measures to establish Islamic courts, a ban on music, expulsion of prostitutes and pimps from the area, closure of businesses during prayer times, and a campaign against what they call obscenity.
    Believe it or not Faith,there are some Muslims living here in Britain,that would like to see the same thing!
  • Why is getting a council home so hard ?

    A year and a half ago I had a good job and so did my boyfriend we decided to move in together when my boyfriends mother decided to downsize and the tenancy of my flat expired. We looked around and decided to privately rent a 3 bed home (2 beds and a box room) for 825 a month (my flat was 725) it was outside town and considering most rental prices of 3 beds are over 1000 a month it was very reasonable so we took it. It was close to a good school for my 5 year old and life was good we paid the bills, we were not well off but we were managing.

    Then I fell pregnant I took maternity leave in april 08 and had a baby boy in may 08 I went down to statutory maternity pay after 6 weeks and as I was the main earner it really effected us. (I earned 20,000 a year and my boyfriend 15,000 per year before tax) I took home about 1200 a month but to be reduced to about 500 a month was crippling us . We applied for housing benefit and undated our tax credits we were getting 41 a week tax credits it was upped to 70 a week. Housing benefit was awarded to us of 125 a month so we were missing about 450 a month from our previous income.

    We found ourselves getting deeper and deeper in debt as each month went by, our bills went up as our income was going down. (my gas and electric alone went from 40 a month to 135!) we started missing payments on loans we had, and previous debt and our credit rating was getting worse and worse.

    Then the unthinkable happened the other day I received notice from my landlady that she requires possession of our home in two months. I phoned some letting agents and because our income is so low we cant afford anything in the area without a guarantor (we don't know anyone who owns their own home or who has the income to do that) Plus because our credit rating is so bad we wouldn't pass the credit reference.

    So I phoned the council (as we are already on the waiting list) They didn't seem to understand we are going to be homeless in two months with a 6 year old and a 6 month old, and we cant afford where we are living now even though apparently we can afford an 800 a month according to what the housing benefit say????

    So I phoned Shelter and in so may words they informed me that the council will put me through hell and back in the hope I find my own way out of the situation. I may have to wait in my home for the court and bailiffs to throw me out (and I have to pay for the privilege of this) I will then be homed in temporary accommodation which does not have to even be in the town it can be miles away. So how my boyfriend can get to work and how I can get my son to school I don't know (We don't drive) and this can be for as long as they want, as long as it takes for us to prove we cant get out of it ourselves.

    I am not an asylum seeker, I was born in this country and so were my family and my boyfriends family, I am not a single mother, My boyfriend works and until i had a baby so did I. I have worked and paid taxes the past 12 years, I...
    Answer number 1 is spot on...u didnt just step off a boat/back of a lorry with 5+ kids so therefore your entitled to nothing!!!and sadly that is the truth!Im really sorry to hear of your situation,i can totally relate to it
    Up until 8weeks ago i was homeless with my children due to fleeing violence(i chose to flee therefore the council said i had made myself intentionally homeless) i didnt get any help atall from any kind of organisation.whoever told you the local council will make sure you go to hell and back is also spot on as they do,i am where i am now (in a priveatly rented house) because of me not because of the council/social services etc etc and it took me 4 months of living in a car,going from place to place to feed the kids/wash etc etc . infact i spoke to social services many times,on the last call i made i was in tears,desperate ..just in a right state in general and her words were 'i can tell you are a good mum and just by what you are saying i know you will find somewhere for your kids'!!!!!!!!!!!!!!! ''we dont have access to housing ,sorry''!unbelievable
    But all the time you are honest , up front and british you wont get a thing !!!
    i did point out to the lady in the council about these foreigners getting housed etc etc and her response was 'we dont hand out houses to them they have to live in the area for a minimum of 2yrs and be working for a year before we help'' ..and the rest!!!
    i really wish you the best of luck,let us know how you get
    xxx
  • Is this what we want to saddle ourselves with in an Economic Depression (see below)?

    Turkey's industrial output plummets, economy slows
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    Hande Culpan Print Story Turkey's industrial output plunged by a record 23.7 percent in February compared to activity 12 months ago, official data showed Wednesday, strengthening expectations that the once-booming emerging market economy is heading into recession. Skip related content
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    Price by
    PriceStock prices Company name Last price Percentage change
    CENTRAL BK CP (MI) 16.10 –
    Wednesday's slump was the seventh month in a row that industrial production declined amid contracting domestic demand and falling exports as Turkey is hit by the global economic downturn.

    The data, published by the Turkish Statistics Institute, showed that the biggest contraction was in the automative sector which plummeted by a staggering 58.7 percent. Manufacturing industry output was down by 25.9 percent in total, the institute said.

    "We expect a similar output performance in March. However we expect some recovery starting in April as the recently introduced tax cuts have led to inventory depletion in some of the key industries such as the automotive," Yarkin Cebeci, a senior economist at JP Morgan, said.

    Last month, the Turkish government announced tax cuts in the housing, automotive, appliances and electronics sectors for three months in a bid to revive falling demand.

    The February figures also increase pressure on the central bank to cuts its key rates as the decline in demand pulls down inflation which hit 7.89 percent in March.

    "This result supports the case for another 50 basis point cut by the Central bank in this month?s monetary policy meeting," Cebeci said.

    In March, the central bank trimmed its key borrowing rate to 10.5 percent in the fifth consecutive cut since November.

    Analysts underlined that the figures point to a deeper contraction in gross domestic product (GDP) in the first quarter of the year after the economy slumped a massive 6.2 percent in the last quarter of 2008.

    Gains the first three quarters of 2008 helped GDP end 2008 with a 1.1 percent growth.

    "We expect gross domestic product to plunge 9.0 percent in the first quarter, 5.1 percent in the second quarter and 3.1 percent in the third quarter and then grow 3.6 percent in the last quarter of the year," Cebeci said.

    The scenario sees Turkey's economy contracting by 3.4 percent in the whole of 2009, he added.

    The Turkish economy had been one of the strongest in the region in recent years, having grown by 8.4 percent in 2005, 6.9 percent in 2006 and 4.7 percent in 2007 under recovery programmes backed by the International Monetary Fund in the wake of two severe...
    Y'know what!...all this has lost me completely? i have no idea what the EU is up to at all. and frankly i don't want Britain having any part in its insanity. All i can think of, is that this is all to do with the notion of a one world government, and they are trying to drag Islam ,kicking and screaming, into the deal. Turkey is the most westernised of all the Islamic country's, and ,with the aid of progressive Turkish youth, will shepard all the others into following suit?....and i believe that is the true reason for this silly pointless Afghanistan situation. economically NOTHING Britain or the EU is doing makes sense. we are "in a depression" and yet we are importing twelve thousand people a week into the country?...Giving away Billions to other country's, shoring up banks that are still on paths to suicide.....I believe that government EVERY WHERE is totally out of control. All of the EU country's people, need to get out onto the streets to vent their anger, and call a halt to this insanity. The people need to know what the Hell is going on. the governments of the world are not consulting the people anymore.