Wednesday 9 September 2009

Monthly house price falls: then and now

Posted by OTOH over at HPC:

My latest blogpost: Monthly house price falls: then and nowTweet this! Posted by Mark Wadsworth at 09:35

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4 comments:

Paul said...

Among a handful of other scary graphs (the other one is monthly change in employment), this probably ranks fairly high for property owners and speculators.

The other foot is about to fall hard on the UK property market by the look of it.

9 September 2009 at 10:13
Simon Fawthrop said...

If housing is going to be the engine of future growth then it would be more interesting to see the number of sales completed as a comparison.

Anecdotally there does seem to be an increase around here judging by the sold signs I see.

9 September 2009 at 12:19
Mark Wadsworth said...

P, do you have a link to a good example?

GS, construction of housing may be an engine of future wealth/happiness, but simply buying and selling can't be. The number of sales down by about 60% against long run average AFAIAA. Those 'Sold' signs are often replaced with a 'For Sale' sign again once the deal falls through!

9 September 2009 at 13:08
Lester Taylor said...

I (horror of horrors) know a couple of estate agency managers. They say things are picking up (Dorset/Wilts).

I have also seen many more sold boards recently (probably because I am now consciously looking for them).

But the graph would suggest we're in for another re-set.

But the banks are lending to those with deposits and/or good incomes and records. So maybe we've reached a sort of temporary equilibrium between who can buy and who must sell. When (and if) the latter outnumber the former, that's when the fun will start.

9 September 2009 at 13:12

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