Nationwide: prices down 1.4% in October, down 14.6% since last year

poppy10_2

IveSeenTheLight wrote: »

Latest figures released from the RoSEA are for September.
September 2008 = £169,072
June 2008 = £174,699

3 month difference = -3.22%, not -9.1% as calculated by Lloyds.

The quarterly decline is the average price during the third quarter (July-Sep 2008) minus the average price in the second quarter (April-June 2008)

IveSeenTheLight

poppy10 wrote: »

The quarterly decline is the average price during the third quarter (July-Sep 2008) minus the average price in the second quarter (April-June 2008)

Well in this case, the price went up

RoSEA average April - June = £173,475
RoSEA average July - September = £175458

Or a 1.14% increase

Check for yourself at http://www.ros.gov.uk/productsandservices/lpd_stats.html

dopester

Do you ever look at the wider economic picture ISTL?

I mean beyond all these spreadsheets from Nationwide, Halifax? These institutions couldn't even forecast anywhere near the severity of the falls we've already had in the past 10 months.

I notice RBS is shedding 3000 jobs with perhaps more to come.

IveSeenTheLight

dopester wrote: »

Do you ever look at the wider economic picture ISTL?

I mean beyond all these spreadsheets from Nationwide, Halifax? These institutions couldn't even forecast anywhere near the severity of the falls we've already had in the past 10 months.

I notice RBS is shedding 3000 jobs with perhaps more to come.

I do Dopester, and I don't need you telling me every 3 posts.
If you read my post, I used RoSEA figures not Halifax or Nationwide.

I was also pointing out that the point poppy10 made would actually show house prices rising in Aberdeen where I have already shown they are dropping.

Now stop arguing for the sake or arguing and try to read and understand the posts

IveSeenTheLight

dopester wrote: »

I notice RBS is shedding 3000 jobs with perhaps more to come.

You seem to gloat too much on unemployment figures, but regarding the RBS latest announcement. Did you only read the headlines or read the story?

Here's a link to the bbc news report
http://news.bbc.co.uk/1/hi/business/7728596.stm

The positions will go in its global banking and markets workforce, spanning more than 50 countries. Jobs are likely to go in the City of London.

It is understood the bank's High Street operations, and those of subsidiary NatWest, will be unaffected.

They employ 170,000, thus 3,00 represents a 1.76% percentage. Hardly surprising that a financial institution will trim costs when there is a credit crunch going around is it.

You've been caught out again by the sensationalising of journalism.

dopester

IveSeenTheLight wrote: »

Now stop arguing for the sake or arguing and try to read and understand the posts

Yes; sorry about that. I will re-read your posts above.

poppy10_2

IveSeenTheLight wrote: »

Well in this case, the price went up

RoSEA average April - June = £173,475
RoSEA average July - September = £175458

Or a 1.14% increase

Check for yourself at http://www.ros.gov.uk/productsandservices/lpd_stats.html

The story I quoted was based on the Lloyds TSB figures, whereas you are using the government RoS figures. Like the Land Registry data in England, this lags by several months (Land Registry was still year on year positive in July this year, whereas Halifax/Nationwide had gone negative in April)

Add the fact that Scotland as a whole has been lagging the rest of the UK in terms of the house price boom and subsequent bust, and you have your answer. No need to be . Just wait 6 months and enjoy the carnage.

IveSeenTheLight

poppy10 wrote: »

The story I quoted was based on the Lloyds TSB figures, whereas you are using the government RoS figures. Like the Land Registry data in England, this lags by several months (Land Registry was still year on year positive in July this year, whereas Halifax/Nationwide had gone negative in April)

Add the fact that Scotland as a whole has been lagging the rest of the UK in terms of the house price boom and subsequent bust, and you have your answer. No need to be . Just wait 6 months and enjoy the carnage.

You responded to my RoSEA figures saying the following: -

poppy10 wrote: »

The quarterly decline is the average price during the third quarter (July-Sep 2008) minus the average price in the second quarter (April-June 2008)

I used the RoSEA figures for that period, so no lag issues.
Stats is a wonderful thing depending on how you utilise them

MrDT

IveSeenTheLight wrote: »

You seem to gloat too much on unemployment figures, but regarding the RBS latest announcement. Did you only read the headlines or read the story?

Here's a link to the bbc news report
http://news.bbc.co.uk/1/hi/business/7728596.stm

They employ 170,000, thus 3,00 represents a 1.76% percentage. Hardly surprising that a financial institution will trim costs when there is a credit crunch going around is it.

You've been caught out again by the sensationalising of journalism.

Almost two thirds of these jobs are in the UK. I suppose the 3000 jobs might be cut from operations in countries outside the UK only, but I kinda got the feeling that a couple of thou more brits would be claiming jobseekers soon.

Couple of thousand is a tiny percentage of the population, I know. An awful lot of companies are dropping a thousand here and a thousand there recently though aren't they? I'm sure it all adds up.

dopester

MrDT wrote: »

Couple of thousand is a tiny percentage of the population, I know. An awful lot of companies are dropping a thousand here and a thousand there recently though aren't they? I'm sure it all adds up.

And as someone here reminded me the other day, there is also the "fear-factor" of unemployment - not knowing if you could be up for the chop as economic conditions continue to deteriorate - bringing about a the mindset to save in order to get a financial cushion, and further hitting disposable spending in the economy.