NATIONWIDE - Actually, Prices went up

Dan:_4

Good to see the Telegraph on the case:

Nationwide House Price Index: Actually, prices went up

Comment: The "real" Nationwide House Price Index shows that prices rose by 0.6pc in April, after a rise of 2.2pc in March, and a fall of only 0.8pc in the first four months of 2009.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5255710/Nationwide-House-Price-Index-Actually-prices-went-up.html

bendix

Reading this, one would be tempted to assume Ray Boulger, the author, is an independent and impartial journalist.

Which, of course, he isnt.

He's an mortgage broker and, of course, it's in his interest to talk up the market.

JayScottGreenspan

What a scoop.

I particularly liked this bit:

I intend to publish updated figures of the "Real" Nationwide House Price Index every month on my blog.

Like they aren't published on Nationwide's website already...

JayScottGreenspan

And this bit:

Halifax, for some reason best known to itself, refuses to disclose the real figures in its monthly press releases and only belatedly publishes them on a quarterly basis.

If you read this, Ray, try following this link:
http://www.lloydsbankinggroup.com/media/excel/24_04_09historicdata.xls
The data is updated on a monthly basis.

MissMoneypenny

Land Registry said the house prices went down in March Dan.

"Land Registry with their usual time lag, confirm that house prices fell again in March 2009.

Remember also that Land Registry do not take into account the selling prices from distressed sellers (repossessions, auctions).

"The latest figures show that monthly house prices in England and Wales fell by 0.4 per cent in March.

The average house price is now £152,895, representing an annual decrease of 16.2 per cent. These price levels were last seen in August 2004."

http://www1.landregistry.gov.uk/houseprices/"

Wookster

Where's that wonderful head in the sand picture?

Thrugelmir

MissMoneypenny wrote: »

Remember also that Land Registry do not take into account the selling prices from distressed sellers (repossessions, auctions).

[/QUOTE]

Why not?

StevieJ

MissMoneypenny wrote: »

Land Registry said the house prices went down in March Dan.

"Land Registry with their usual time lag, confirm that house prices fell again in March 2009.

Remember also that Land Registry do not take into account the selling prices from distressed sellers (repossessions, auctions).

"The latest figures show that monthly house prices in England and Wales fell by 0.4 per cent in March.

The average house price is now £152,895, representing an annual decrease of 16.2 per cent. These price levels were last seen in August 2004."

http://www1.landregistry.gov.uk/houseprices/"

Looks like the Land registry have a couple of months of gains coming judging by the other two, the lag of course :j

mp2

Dan: wrote: »

Good to see the Telegraph on the case:

Nationwide House Price Index: Actually, prices went up

Comment: The "real" Nationwide House Price Index shows that prices rose by 0.6pc in April, after a rise of 2.2pc in March, and a fall of only 0.8pc in the first four months of 2009.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/5255710/Nationwide-House-Price-Index-Actually-prices-went-up.html

apparently seasonally adjusted figures are "doctored" according to the writer and are therefore fake.

"Their comments are always based on these "doctored" prices, but although their press releases state that the figures are seasonally adjusted this can be misleading. "

"This is helpful to anyone like me who prefers to use real figures rather than "doctored" ones based on someone's view of the seasonal impact on prices"

he then goes on to say

"The housing market is, of course, seasonal,"

lol

JayScottGreenspan

If we had by far the coldest summer on record, supposed it even snowed a bit, would Ray boulger say: "No, no, no, what's all this silly talk about i being 'cold'. It's warmer than it was in January. Wife - where's my speedos, we're heading t' lido."?

geoffky

no matter what the bulls post ..the crash has been going for 18 months now and probably has another five years to go before we get any gains worth mentioning.....it must be so frustrating being a bull and sitting round being wrong and watching your assets reducing by 20% a year....i pity them...