NATIONWIDE - UK house prices fall 0.4 pct mm in April

sarkin1

House prices only fall 0.4% with the base rate at 0.5%, cant wait to see what will happen when rates return to the historical low of 6%

ad44downey

Dan: wrote: »

Why don't you actually try reading the report before you post?

Can you not read then dannyboy?



LONDON, April 30 - British house prices resumed their slide in April, data from mortgage lender Nationwide showed on Thursday, suggesting last month's rise was no more than a blip in a downward trend.
Nationwide said the average house price fell 0.4 percent on the month"

mitchaa

skap7309 wrote: »

Did anyone anyway?

I think you all agreed that we would be down around 40% by xmas if i am not mistaken.

There were hundreds of threads on here stating that 2009 is going to be far worse than 2008 due to the recession, debt and increasing unemployment.

That has simply not happened in the 4mths so far. Nationwide state house prices have fallen less than 1% so far this year in the 4 months up until now.

Where's Dopester, Brit1234, Carol, NDG, even Generali who predicted that things were going to get a whole lot worse in 2009. There are some very quiet bears, ad44downey still with his head in the sand concentrating on 1 misleading quote;)

the_ash_and_the_oak

Really2 wrote: »

So who is still going for a drop of more than 15% this year?

No one can still be thinking 50% from peak by Christmas surely?

I think around 12-15% for this year (tho I thought that last year and underestimated the speed of the falls). Think these things are pretty slow burning and the measures put in place are designed to mitigate the falls so there isn't a rapid decline.

haven't really ead any predictions like the second one imo.

mitchaa

ad44downey wrote: »

Can you not read then dannyboy?



LONDON, April 30 - British house prices resumed their slide in April, data from mortgage lender Nationwide showed on Thursday, suggesting last month's rise was no more than a blip in a downward trend.
Nationwide said the average house price fell 0.4 percent on the month"

But house prices in April are higher than they were in March:p The seasonal adjustment figure is just a waste of time and effort. (Yes both ways)

Dan..Your sig needs an update;)

Dan:_4

ad44downey wrote: »

Can you not read then dannyboy?



LONDON, April 30 - British house prices resumed their slide in April, data from mortgage lender Nationwide showed on Thursday, suggesting last month's rise was no more than a blip in a downward trend.
Nationwide said the average house price fell 0.4 percent on the month"

It is seasonally adjusted. According to Nationwide tha average house price was £150,946 in March and is £151,861 in April - so is a rise of around 0.6%.

Like I said, read the Nationwide report. You will find it here:

www.nationwide.co.uk/hpi

ukcarper

If prices fall as much over the next 18 months as the last, prices will be down 40%, not accounting for the fact that 20% of todays price is less than 20% of the 2007 price. How many people think that will happen

ukcarper

Can some explain how you seasonal adjust a house price surely a house price is a house price.

mitchaa

sarkin1 wrote: »

House prices only fall 0.4% with the base rate at 0.5%, cant wait to see what will happen when rates return to the historical low of 6%

A 90% LTV mortgage is just as high now with a 0.5% BOE IR than what it was last year with a 5.5% IR so i do not see the link.

No reason to suggest that if the BOE IR is to rise by 5% the 90% LTV product will do the same. They did not move in a linear fashion on the way down otherwise we would have 90% LTV fixed products at 1.5%, so no reason to suggest they will move in a linear fashion on the way up either.

ukcarper wrote: »

Can some explain how you seasonal adjust a house price surely a house price is a house price.

Its a black art. I'm sure its to do with sales volumes at particular time of year in comparison to previous years.

Dan:_4

mitchaa wrote: »

Dan..Your sig needs an update;)

Thanks. This is updated. :beer: