Nationwide HPI: Dec 09 Down 2.5%

mystic_trev

You have to hand it to the Nationwide, and, indeed, the Halifax.
Both lenders, in producing their monthly reports showing prices fell more than 2% in a single month in December, are saying that things are not as bad as they look.

The pace of decline is steadying, they argue, rather than accelerating. The Nationwide said this morning argued that the three-month on three-month fall was "only" 4.2%. That may be true but it would still give you an annualised fall of 17%.

Its monthly figure of 2.5% would give you an annualised figure of 30% while the Halifax's December figure of 2.2% down, reported last Friday, gives you an annualised pace of tumble of around 26%.

The truth is you can take your pick but nothing changes the picture that the housing market is in free fall and has considerably further to go given the scarcity of mortgage finance, particularly for first-time buyers, and given the idea that people don't want to buy now when they think they can buy cheaper in year's time.

Quite how far house prices will fall is anyone's guess. Prices are down now about a fifth from the peak in autumn 2007. Add in inflation over that period of 5-6% and you have a real-term fall of about a quarter.

Some optimists say that the big recent interest rate cuts and the fact that prices have fallen a lot mean we are now quite close to the bottom. Others argue, more realistically, that we are only half way through this process, given that unemployment is rising so strongly, and that prices will probably shed 50% in real terms by the time the market stabilises next year or in 2011.

http://www.guardian.co.uk/business/2009/jan/06/housingmarket-houseprices

chucky

JonnyBravo wrote: »

hell we'd have to lose mewbie without it and I like that type of stuff. :T

mewbie - has gone unfortunately... and it wasn't a bull/positive person that upset him.

it's a shame...

WTF?_2

mr.broderick wrote: »

Please put me back on ignore because you are not going to like this.

You've been a racist, a flamer, you've got personal with me about my job in fact there isn't enough room here to describe how vindictive and sly you have been. I just keep the evil in check, you are one of many who openly gloat over people who have bought homes recently contrary to popular belief that this was a mistake. I for one have more respect for them than i do for you and your ilk who are frightened of life. I have never initiated any personal abuse, only responded to flamers like carolt and yourself. That is it, it is my reason for personal abuse to random strangers.

Here's a post you made on the very day this group was created (when it was called just 'House Prices'):

"You didn't get the message .....
You didn't get the message when they banished you undesirables to
your own thread so they've now given you your own board where you can
meet.....Weirdos..."

That was the start of April last year.... What was your excuse back then, Broderick?

I think you need to look at yourself before projecting problems onto people on an internet forum......

JonnyBravo

chucky wrote: »

mewbie - has gone unfortunately... and it wasn't a bull/positive person that upset him.

it's a shame...

eh?

I've just searched his last few posts and there is no mention of him leaving??

mr.broderick

!!!!!!? wrote: »

Here's a post you made on the very day this group was created (when it was called just 'House Prices'):

That was the start of April last year.... What was your excuse back then, Broderick?

I think you need to look at yourself before projecting problems onto people on an internet forum......

That was tongue in cheek and i thought it was hilarious that all the doom mongers were banished off to their own forum, didn't you?

Don't worry i won't post your racist comments here dude.

neverdespairgirl

IveSeenTheLight wrote: »

LR figures are released already for November

Yes, but solicitors have quite a bit of time (3 months? could have made that up, could have remembered it) after completion to file returns with the LR.

chucky

JonnyBravo wrote: »

eh?

I've just searched his last few posts and there is no mention of him leaving??

it was on the Chinese thread that got pulled.

WTF?_2

JonnyBravo wrote: »

Seems like those were adjectives being used to describe her posts not her. Not that I'd be especially against someone using those words to describe someone.:T

That's certainly clear.

Is that all it takes to upset you? :rolleyes: .:T

Having been on the receiving end of some utterly vile personal attacks on this group I do get riled when I see snide little personal jibes continually being chucked at people. I'm certainly not going to shut up and let it go uncommented.

WTF?_2

mr.broderick wrote: »

That was tongue in cheek and i thought it was hilarious that all the doom mongers were banished off to their own forum, didn't you?

You are a strange character aren't you? You were doing pretty well with the 'Broderick' personality as it was often witty but sadly you just can't hold it in check.

Don't worry i won't post your racist comments here dude.

Possibly because there are absolutely none to speak of. Though you, Chucky and Dithering Dad do like to throw that nasty accusation up from time to time I note.

neverdespairgirl

ad44downey wrote: »

It's that time of the month again. Fionnualla Earley, Nationwide chief economist:

"House prices may have fallen this month but they're still 500% higher than they were during the Black death in 1314"

:rotfl:

It arrivedin Caffa in 1347, and in England, the Black Death arrived in about June 1348.....