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MSE News: House prices rose in January, says Nationwide

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in House buying, renting & selling
"Average property prices now stand at £162,245, as values jumped by 0.5% month-on-month in January..."
Read the full story:

House prices rose in January, says Nationwide

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This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

Comments

  • james_toney
    james_toney Posts: 178 Forumite
    Not in my neck of the woods they have not, they are still falling,

    i bought last year with a wopping 32% off the peak last sold price :D

    and IMO will still fall, no house price recovery for some time I think
    Ex HPC fool
  • foofi22
    foofi22 Posts: 2,213 Forumite
    Part of the Furniture 1,000 Posts
    I'm not sure 'jumped' is the right word
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The last 12 months....

    Land Registry + 1.7%

    Halifax + 2.4%.

    ONS + 2.1%

    Acadametrics + 3.2%

    Nationwide +0.0%

    Rightmove + 2.3%
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • thequant
    thequant Posts: 1,220 Forumite
    HAMISH_MCTAVISH wrote: »
    The last 12 months....

    Land Registry + 1.7%

    Halifax + 2.4%.

    ONS + 2.1%

    Acadametrics + 3.2%

    Nationwide +0.0%

    Rightmove + 2.3%

    All less than the inflation! Long may it continue!
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    thequant wrote: »
    All less than the inflation! Long may it continue!

    Nope.

    Acadametrics (+3.2%) and the LR quarterly series (+3.5%) show prices rising by more than inflation.

    And the average of indices shows greater rises than wage inflation.

    Regardless, inflation adjusted house prices are a bit pointless.

    It doesn't help a buyer for house prices to be rising, AND the price of everything else to be rising more, which is all "real terms" falls means in reality.

    And it doesn't hurt a seller to have their house price rising in actual cash terms, while their mortgage falls in "real terms".

    So never really understood the point of trying to portray inflation adjusted figures as being the holy grail.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    james_toney wrote: »
    Not in my neck of the woods they have not, they are still falling,

    And in my neck of the woods prices have already exceeded their previous 2007 peak, by some margin.

    But neither one of us are typical of the wider market.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    HAMISH_MCTAVISH wrote: »
    And in my neck of the woods prices have already exceeded their previous 2007 peak, by some margin.

    But neither one of us are typical of the wider market.

    Indeed, round my way (Richmond, Surrey) they are well above 2007 levels and rising fast
  • Sponge
    Sponge Posts: 834 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    I didn't see anything in that particluar article, but often following headlines like that I see a comment about how it's London that's skewing the figures. House prices in my area are definitely not rising.
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    Don't worry, there was a commentator (as opposed to a posh 'tater) on BBC R4 Today programme this morning talking about how the price rises in the South are starting to ripple north

    Good news all round
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