BBC: Homes 'May rise in value in 2009'

Dan:_4

The UK's largest building society believes there is a "reasonable chance" that house prices could end the year higher than they started 2009.

Such an outcome was "unthinkable" a few months ago, the Nationwide's chief economist said.

The Nationwide's latest house price survey showed prices rose by 1.3% in July compared with the previous month.


http://news.bbc.co.uk/1/hi/business/8175479.stm

Davesnave

Wonderful news!
(I exchanged yesterday):D:rotfl::beer::j

System

Congrats on your new home then!

Dan:_4

Davesnave wrote: »

Wonderful news!
(I exchanged yesterday):D:rotfl::beer::j

Great stuff!

Graham_Devon

Just taking this from the story...

On Monday, the government announced that hundreds of housing developments in England that had stalled during the recession were set to share in a £925m attempt to kick-start the industry.

About 270 projects could benefit from the cash, the government said, with a third of the funds to go to housing associations to build affordable homes.

Surely this tells us SO much is wrong? We are throwing £925m of tax payers money at yet more "affordable" homes, which are not affordable, hence why so many end up being used by the local authority for people on housing benefits.

I just cannot get my head around the sheer idiocy of the whole UK house price thing at the moment. I'm sure that more "affordable" shared equity type homes though will go towards keeping people out of ownership for longer, and keep house prices up from their natural level.

We are just playing artificial games with absolutely everything right now. Surely this has to stop sometime?! How can you go on with artificial money, artificial "affordable" homes, artificial car sales, artificial interest rates, artificial job creation, artificial beneifts.

Batchy

i dont understand why everyone is getting so excited... they are still falling by over 6% annualised.

if inflation was -6%... everyone would be having kittens, and when for most working people who own houses, the fact they are falling isnt exactly a great idea...? when 40% of income goes on spending on houses... which is in fact increasing... so in fact paying more for less...

GREAT... lets open the champagne.... :S

Thrugelmir

Dan: wrote: »

The UK's largest building society believes there is a "reasonable chance" that house prices could end the year higher than they started 2009.

Such an outcome was "unthinkable" a few months ago, the Nationwide's chief economist said.

The Nationwide's latest house price survey showed prices rose by 1.3% in July compared with the previous month.


http://news.bbc.co.uk/1/hi/business/8175479.stm

and in the same article

"It is unlikely the price increases can be sustained for long at the very strong rate observed over the last few months," he said.

nearlynew

Terrible news, if true.

For a sustainable economy and a more equitable society,we need lower prices not higher.

Chris2685

That little year change graph thing is becoming less and less meaningful... Why do Nationwide and Halifax have such massively different lines... It's mad.

Dan:_4

nearlynew wrote: »

Terrible news, if true.

For a sustainable economy and a more equitable society,we need lower prices not higher.

No, we need stable prices.

Graham_Devon

Dan: wrote: »

No, we need stable prices.

We need affordable prices before stability.

No good having stable prices well above the affordability line....as with that at some point, yet again, something has to give.