Nationwide Building Society House Price Index April 19

[DimPrawn]

Depends on the area, most of the houses in our village (in West Yorkshire) that are going up for sale and selling in record times

Have you lived there long?

[original PM]

So interestingly my brother has bought a flat originally on for 125 reduced to 115

He got it for 110.

That's 15 k below the asking price on a property that's been on the market for about 2 months.

Crazy

[Dark Black]

Isn't that because in reality a lot of stuff is over priced.

Been looking for a starter property with my little brother

nothing fancy but when you start looking at £150k for a two bedroom house in a pretty ropey area which needs new wiring, new central heating and completely re decorating you can see there is a problem.

Tend to agree, but then (IMHO) houses have been overpriced for years.

Depends on the area, most of the houses in our village (in West Yorkshire) that are going up for sale and selling in record times

Bound to be regional variations - we're looking in the South West. Properties down there that are sensibly priced do tend to sell quickly. However they are rare, the vast majority of stuff coming to market is hanging about until they are reduced a few times (anything from 20k to 50k typically).

[SimonMac]

Pretty much flat-lined then.

We're seeing a lot of price reductions, stuff isn't selling.

Depends on the area, most of the houses in our village (in West Yorkshire) that are going up for sale and selling in record times

[Martin@AS Financial]

Pretty much flat-lined then.

We're seeing a lot of price reductions, stuff isn't selling.

Since late last year i have noticed an increase on down valuations for remortgages. Surveyors are being incredibly cautious and are generally valuing property at the same or less than was bought for 2 years ago. The saving grace is that rates are still historically low. Currently, there isn't a huge amount of difference between say a mortgage rate on offer with 25% or 40% equity but there is an increase none the less of about 0.1%.

[original PM]

Pretty much flat-lined then.

We're seeing a lot of price reductions, stuff isn't selling.

Isn't that because in reality a lot of stuff is over priced.

Been looking for a starter property with my little brother

nothing fancy but when you start looking at £150k for a two bedroom house in a pretty ropey area which needs new wiring, new central heating and completely re decorating you can see there is a problem.

[Dark Black]

Key points:

- Annual house price growth remained subdued at 0.9% in April

- Prices rose 0.4% month-on-month, after taking account of seasonal factors

Full report here:

https://www.nationwide.co.uk/-/media...9/Apr_2019.pdf

Pretty much flat-lined then.

We're seeing a lot of price reductions, stuff isn't selling.

[Martin@AS Financial]

Key points:

- Annual house price growth remained subdued at 0.9% in April

- Prices rose 0.4% month-on-month, after taking account of seasonal factors

Full report here:

https://www.nationwide.co.uk/-/media...9/Apr_2019.pdf