Halifax May: +1.1% MoM +2.0% YoY

OffGridLiving · 9 May 2013 at 11:46AM

chucknorris wrote: »

You seem to think that we can have falling house prices and a healthy economy, it isn't going to happen that way.

This is true and a real shame. The UK would do well to decouple the economy from its huge reliance on the housing market. Rather than having people feel 'richer' because of rising prices and starting to spend in the economy, they could actually feel more secure in their jobs and have more disposible income and start spending in the economy (i.e. actually be richer).

Sustainability isn't just about resources, it's about economies. A model that relies on ever increasing asset prices is flawed. We should look at following the German model and actually get rich from working hard and exporting, not by investing all our wealth in properties and sitting idle as they rise.

wotsthat · 9 May 2013 at 12:23PM

shortchanged wrote: »

Doesn't really look like a recovering market to me. Seems like it's the good old London factor at play again.

This data shouldn't be taken in isolation though (except when participating in internet bunfights).

I don't really care that much if the housing market is recovering or not but tend to think that people being willing to pay more for houses is another sign of an improving economy.

If prices are increasing in the absence of lending and transaction levels are low then something significant is happening.

Yes there's no point in putting up the bunting just yet because transactions are hardly something to write home about but there are plenty of other signs that things may be picking up on that front too.

The National House-Builders Council (NHBC) said the number of new homes being planned had risen by 22% over the last year.

The figures compare the first three months of 2013 with the same period in 2012.

Registrations rose by 61% in London and by 74% on Merseyside, but fell in Scotland and Northern Ireland.

House-builders have to pay several hundred pounds when they register a new home, so it is seen as a serious intention to go ahead with the build.

http://www.bbc.co.uk/news/business-22397598

Sibley · 10 May 2013 at 3:02AM

SAVING_IS_DEAD_MONEY wrote: »

The silence is deafening over at HPC central and the chain gang routed once again this month just like every other month.

I don't understand why they just don't put their hands up and say a crash isn't happening..

Making themselves look even more stupid carrying on.

Generali · 10 May 2013 at 4:55AM

Graham_Devon wrote: »

That;s normally used when the spring bounce doesn't increase prices. It's all about sales then.

It's clearly back to prices on this thread though!

Only last month I was told the spring bounce was about transactions not prices. Now, the spring bounce is working!

The spring bounce is about transactions and prices.

If underlying prices are flat we should see prices rise a little from Jan - June (~3% from memory) and then fall back by about the same amount from July - Dec.

For that reason, Haliwide seasonally adjust their data to enable inter-month comparisons.

If someone tells you otherwise they don't know what they're talking about IMHO.

Seasonal adjustment has no impact on year-on-year figures for fairly obvious reasons.

Thrugelmir · 10 May 2013 at 7:21AM

wotsthat wrote: »

If prices are increasing in the absence of lending and transaction levels are low then something significant is happening.

Perhaps desirable properties are fetching premiums. As those flush with cash to burn. Fight over those properties which come to market.

Batchy · 10 May 2013 at 9:01AM

Nice to know... however, with increasing prices... who wins again??

The emigrators... oh yea, forgot about them, so thats good for the economy again isnt it...?

Debate House Prices

Halifax May: +1.1% MoM +2.0% YoY

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