Bloomberg News: U.K. House Prices Are on the Longest Losing Streak Since Financial Crisis

[FabulousSophie]

Good news for buyers, property is getting cheaper:

U.K. House Prices Are on the Longest Losing Streak Since Financial Crisis

"U.K. house prices fell for a fifth month in a row in July, the longest stretch of declines since the financial crisis."

www.bloomberg.com/news/articles/2018-08-12/u-k-house-prices-are-on-the-longest-losing-streak-since-crisis

Very area specific though isnt it. Prices where I am in a desired area in south yorkshire have increased every month and havent dipped at all. Currently selling for around 25k over asking!

Sophie is the MN house price troll. Are you a refugee from that housepricecrash website, Sophie?

SporkInTheToaster
You are being such a misery gut killjoy - this is great news for buyers, although it is bad news for sellers. Please stop trying to troll anyone who announces good news for buyers! This is a thread is about news for buyers to celebrate, not bad tempered sellers to troll.

I knew as soon as I saw the title that the thread had been started by Sophie.

Its only really bad news for downsizers... Or owners who are highly leveraged

Gosh, this does look like good news for hard-pressed buyers to celebrate. So I am not sure why people would get angry about it, when as @Alexalee says, it is only really negative news for downsizers or people who have borrowed more than they should.

@twogirls it's v area specific but of course look at trends in London and South East (down) it'll head up and out soon enough. Always does.

It's a shame only @Fabulous is bringing this news to the board and I'm confused as to why she gets so much abuse. It's a property board, she's discussing the state of the UK property market. Hardly trolling...

Sophie, you are wrong. I am a mortgage free homeowner with no plans to sell.

Anything that makes some sellers where I am wobble on their prices is good new in my books

The house-as-moneymaker crowd won’t be pleased, but anybody who thinks a house should foremost be a home, and should be affordable without the bank of m&d and harebrained Help to Buy schemes, will see this for the good news it is, or at least a step in the right direction. If it continues, and the rungs on the ladder get closer together again, the market can get back to something approaching functional and healthy.

Hit the nail on the head there Mark... the rungs are too far apart making the whole market dysfunctional

Was Bloomberg trolling the country when it published this article? I am confused why some people get so upset at the good news that buying a home or moving up the property ladder is getting more affordable and within reach of more people. I think it shows a meanness of spirit to try to trash this good news by calling it trolling.

I'd love house prices to fall, even though we own a lovely home outright, as I'd like my DC and others to be able to afford somewhere to live. However, as far as I can see, the market stalls every so often, and then the government tinkers a little to inject some more cash, and ensures the ponzi scheme continues unabated. So I don't yet see much genuine cheer here.

I wish this crash would filter out from London. I'm not confident that it will. I'm a first-time-buyer trying to buy in Bristol – it's a sealed-bids nightmare.

Same here 1st time buyer bristol its pants.

Just means those who might have downsized will sit tight and not move.

Record numbers are moving into care homes. I don't think many elderly really have an option to sit tight, if they cannot cope alone in a big house, carers cannot cope with their needs, and their family cannot accommodate them.

Just means those who might have downsized will sit tight and not move.

People always say that, but prices aren’t set by those who “sit tight” (thereby hoping to lock in some imaginary value), they’re set by those who have to sell.

I am confused why some people get so upset at the good news that buying a home or moving up the property ladder is getting more affordable and within reach of more people.

Perhaps it's the fear of diminishing profits if they're hoping to sell in the short to medium term?

I got banned from the HousePriceCrash website for questioning their graph methodology

Perhaps it's the fear of diminishing profits if they're hoping to sell in the short to medium term?

But if prices are more affordable, it makes it easier for them to move up the property ladder. It is only downsizers who might be worried about diminishing profits, when they downsize or move into a care home (in which case, the profits are just eaten up by care home fees anyway).

I'm happy about this as I need to upsize but the difference is about + £80K at the moment. Yes, my house price might drop but hopefully so will my next house and therefore my mortgage won't increase by that much.

Economic conditions are super sketchy, house prices have been propped up with low interest rates and HTB, we never really recovered from the last recession.

The writing on the wall isn't good, but I don't see it as anything to be happy about.

As I owe the princely sum of £100 on mine and I have no intention of downsizing, it bothers me not.

Happy because I can afford to trade up, happy as there is hope on the horizon that the younger members of the family might actually be able to afford a property in a few years. There will be losers- those that bought recently with low deposits at high prices and downsizers (who will probably just stay put). On the whole, prices dropping will benefit more people than not surely?