MSE news: Nationwide reports largest house price rise for over two years

stonethrower

StevieJ wrote: »

What was it the STR brigade used to say about the fall in property far outweighing the cost of rent (not to mention those 1% savers rates :eek:) sorry couldn't resist

Im a STR and have no problem house prices are down about 12-15% my investments have produced the same plus what extra I have saved, I could buy my old house outright. I think there is more falls to come maybe 10% in the next 2 years so while your house has dropped in value my financial situation has increased sorry couldnt resist

BACKFRMTHEEDGE

Jonbvn wrote: »

However, no UK savers lost any money in Icelandic banks?

Furthermore, we're doing very nicely with some of the fixed rate accounts they offered at 7%+;)

Do your own research and thinking, that's my point;) 7% is a good return:D

Bloo_Loo

StevieJ wrote: »

I thought they were all getting 120% mortgages pre 2008 now that is one of the more interesting charts posted here.
BTW, the Nationwide being more southern based appears to be showing a growing north south divide in house prices, although even northern prices re Halifax are not doing that badly.
So in 2003 when HPC.co.uk were calling houses overpriced, FTBers were coughing up a 23% deposit :eek:

government are STILL issuing part buy deals...effectively 100% mortgages.

what is worrying is in spite of billions spent to preserve the market, the results are so small....the piper will need paying soon enough...France just announced borrowing over a trillion Euros, US upping its borrowing, Germany saying it will rollover loans direct as banks arent willing....its all good news and house price rises will make our own country more and more competitive......NOT.

Bloo_Loo

Really2 wrote: »

When people move house they tend to remortgage.

Surely any FTB at the start of the crash as saved hard for two years at least!


From what I hear FTB are making up a lot of purchases, why would they not.

I cant rememebr the figures, but BoE figures for the previous month showed the average approval was UP and that FTBs made up only a small part of the total.

historically, they are 50% of the market...they have to be otherwise there is no floor.

BTL took over but they have to pay through the nose these days.

rents round here are lower than mortgages by a long chalk FYI ( Essex)

Really2

Bloo_Loo wrote: »

I cant rememebr the figures, but BoE figures for the previous month showed the average approval was UP and that FTBs made up only a small part of the total.

historically, they are 50% of the market...they have to be otherwise there is no floor.

http://news.bbc.co.uk/1/hi/scotland/8222205.stm

Just a snipet from Scotland, most probably fairly representative.

There were 4,300 loans to first-time buyers and 7,200 loans to home movers.

If FTB historicaly made up 50% surely you are saying their is/was massive.

michaels

Not seasonally adjusted prices up 0.85% - I don't think this is a 'normal' year so I am not sure applying historic seasonal adjustment is valid.

However this just brings the rate down to what the bulls are predicting - ie a slow down come autumn.

But we are still not inconsistent with what the bears would say about unsustainable monetary and fiscal stimulus just delaying the remainder of the adjustment until after the election.

So something for everyone really.

Heyman_2

Bloo_Loo wrote: »

rents round here are lower than mortgages by a long chalk FYI ( Essex)

Largely depends on what mortgage you get and your deposit though doesn't it?

My mortgage is currently £700 a month from a 3-bed Semi, which is about £100-£150 less than a comparable property montly rental in the same area :beer:

Bloo_Loo

Really2 wrote: »

http://news.bbc.co.uk/1/hi/scotland/8222205.stm

Just a snipet from Scotland, most probably fairly representative.

There were 4,300 loans to first-time buyers and 7,200 loans to home movers.

If FTB historicaly made up 50% surely you are saying their is/was massive.

4300 and 7200 is nowhere near 50%....and 11500 mortgages just to SCOTLAND?

thats nearly a third of all mortgages....wow, Scotland,,,the home of the prudent bank and the state owned bank.

chucky

Bloo_Loo wrote: »

leveraged equity would show in the lending figures as remortgages. that is way way down

Valerius wrote: »

Tears? More denial like...

Figures are being manipulated, it is a nationalized banks and as a government controlled bank, any rise is just propaganda before the election etc.....

Funny none of these comments were made during 2008

Dan: wrote: »

Full report

http://www.nationwide.co.uk/hpi/historical/Aug_2009.pdf

another nail in the HPC coffin!! :rotfl:

Really2

Bloo_Loo wrote: »

4300 and 7200 is nowhere near 50%....and 11500 mortgages just to SCOTLAND?

it is less than 13% off!!! given deposits needed that is quiet close.
Average FTB deposit it 25%, What was it historicaly?