House Prices up 4.2% in 3 months Nationwide

Spiv_2

House prices are up 4.2pc in real terms over the past three months

http://www.telegraph.co.uk/finance/personalfinance/comment/5421094/House-prices-are-up-4.2pc-in-real-terms-over-the-past-three-months.html

"The real Nationwide house price figures show a very clear trend and provide strong evidence that the market is now moving as rapidly towards stabilisation as it did when it started falling"

"I will leave you with a few other statistics from the real Nationwide house price figures, which show a very clear trend and provide strong evidence that the market is now moving as rapidly towards stabilisation as it did when it started falling:
Price changes over:

The last year - 11.3pc
The last 6 months - 2pc
The first 5 months of 2009 + 0.7pc
The last 3 months + 4.2pc
The last month + 1.4pc"

skap7309

Spiv wrote: »

House prices are up 4.2pc in real terms over the past three months

http://www.telegraph.co.uk/finance/personalfinance/comment/5421094/House-prices-are-up-4.2pc-in-real-terms-over-the-past-three-months.html

"The real Nationwide house price figures show a very clear trend and provide strong evidence that the market is now moving as rapidly towards stabilisation as it did when it started falling

Stage one has been completed. IRs will now be brought back to the 'norm' and stage two begins. Hold on 'cos there is a few years to go yet. I am more than confident.

Generali

Thwack!!!!

http://forums.moneysavingexpert.com/showthread.html?t=1718307

Arch-Angel

Quote:
"During the downturn of the early 1990s, there were many months during which prices rose, only to fall back down again in subsequent periods," said Martin Gahbauer, Nationwide's chief economist.
"In the current downturn, the combination of rapidly rising unemployment and tight access to credit implies that the last of the price declines has probably not been seen yet."



http://news.bbc.co.uk/1/hi/business/8073157.stm




Let's get some balance here folks...we can argue over seasonal figures and the like, but calling the bottom now will either be an inspired prediction or will look utterly stupid over time.


Only time will really tell....

lostinrates

Things went down very quickly, now it seems they are recovering quickly. I'm getting dizzy!

I feel more uncomfortable about buying in a market like a yo-yo: and 4% is lot.

ad9898_3

I think the best time to buy is 2-3 years time, then you will know if you still have enough money left from your take home pay to service your mortgage *, after IR's have returned to normal, tax hikes have come in and obviously you still have a job. All these issues are going to affect the market in a negative way. At this point, the financial meltdown has been averted, now what we will see going into the future is what a very bad recession will do to the housing market, the bottom line is, it's not going to be good.



* Assuming you need a mortgage.

lostinrates

ad9898 wrote: »

I think the best time to buy is 2-3 years time, .

we need a mortgage. If we wait another 2-3 years I shall, more than likely, find myself looking in another country. I am now so driven by my nesting instinct I'm almost jealous of the hen we hve that's gone broody. I am happy to buy somewhere hat will not be right/finished for ten years or so, but I'm ready. Best time for us (to acquire debt) is next March, best time of us to be limited by our borrow-abilty is before March.

chucky

Arch-Angel wrote: »

Quote:
"During the downturn of the early 1990s, there were many months during which prices rose, only to fall back down again in subsequent periods," said Martin Gahbauer, Nationwide's chief economist.
"In the current downturn, the combination of rapidly rising unemployment and tight access to credit implies that the last of the price declines has probably not been seen yet."



http://news.bbc.co.uk/1/hi/business/8073157.stm




Let's get some balance here folks...we can argue over seasonal figures and the like, but calling the bottom now will either be an inspired prediction or will look utterly stupid over time.


Only time will really tell....

you are of course correct and not directed at you but why do people always refer to the 90s recession. why not the arly 80s one or even the mid-70s one which was more similar to today's?

IveSeenTheLight

ad9898 wrote: »

I think the best time to buy is 2-3 years time, then you will know if you still have enough money left from your take home pay to service your mortgage *, after IR's have returned to normal, tax hikes have come in and obviously you still have a job. All these issues are going to affect the market in a negative way. At this point, the financial meltdown has been averted, now what we will see going into the future is what a very bad recession will do to the housing market, the bottom line is, it's not going to be good.



* Assuming you need a mortgage.

One argument to waiting 2-3 years when interest rates have risen is that there is an oppertunity to secure a mortgage at lower rates for a longer period.
If you can secure now when BoE rate is 0.5 and 5 or 10 year fixes are 5%-6.5% or wait till the BoE rate is 5-6% and 5 and 10 year fixes are nominally hgher

JonnyBravo

ad9898 wrote: »

I think the best time to buy is 2-3 years time, then you will know if you still have enough money left from your take home pay to service your mortgage *, after IR's have returned to normal, tax hikes have come in and obviously you still have a job. All these issues are going to affect the market in a negative way. At this point, the financial meltdown has been averted, now what we will see going into the future is what a very bad recession will do to the housing market, the bottom line is, it's not going to be good.



* Assuming you need a mortgage.

I think you're imposing your plans onto others here.

Why do you have to wait 2-3 yrs to know if you'll have enough of your money to service your mortgage?
If interest rates are an issue - fix. If you want a tracker use a calculator to see how high they have to go before you struggle.
If you're waiting to see if you lose your job then you'll be waiting longer than 2-3 years..... unemployment lags the end of a recession by nearly 2 years anyhow doesn't it?
Tax hikes? Who knows how severe they will be and aimed at which parts? Can't see people waiting for this to play out before buying.


I always take the view that if say 30% (picked that figure out the air but there or thereabouts) of the population are in a more precarious position than yourself there is no way you should be caught out..... imagine if those 30% had lost their house and then it came to you and nothing had been done. There would be anarchy.

lostinrates

JonnyBravo wrote: »

Tax hikes? Who knows how severe they will be and aimed at which parts? Can't see people waiting for this to play out before buying.

.

I have long felt an election: with any result, would help stabilty, and I think USA's election helped them for that reason -the 'yes we can' attitude was a bonus in a bleaker outlook, but the stabilty rovided by at least one variable over the next term being removed has allowed people to make a decision. You might not know what taxes will be raised etc, but you have a sense of the leaning of the government. I think the about turns are what have been most damaging under Brown, noone knows whther they are comin and going.