MSE News: Halifax: House prices up again in August (+0.8%) 10 September 2009 at 8:26AM edited 10 September 2009 at 9:14AM in Debate House Prices & the Economy 194 replies 2.4K views

Former_MSE_Guy

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Halifax: House prices up again in August

Really2

As above, bit lower than forecast

inspector_monkfish

not quite as big as last months +1.1%

inspector_monkfish

09:00 10Sep09 UK HALIFAX HOUSE PRICE INDEX +0.8 PCT M/M IN AUGUST
09:00 10Sep09 UK HALIFAX HOUSE PRICE INDEX -10.1 PCT IN 3-MTHS TO AUGUST VS YR AGO

09:03 10Sep09 -UK house prices up 0.8 pct mm in Aug - Halifax

LONDON, Sept 10 (Reuters) - House prices in Britain rose 0.8 percent in August, leaving prices down 10.1 percent in the three months to August versus a year ago, mortgage lender Halifax said on Thursday.

That left the average price of a home at 160,973 pounds, the mortgage lender said.

Analysts had forecast a rise 0.8 percent, for a three-month annual fall of 10.0 percent.

chucky

it's only a dead cat bounce!!

Jonbvn

Here's the official report from LTSB-HBOS.
http://www.lloydsbankinggroup.com/media/pdfs/halifax/HousePriceIndexJAug2009v2.pdf

inspector_monkfish

09:17 10Sep09 UK Halifax Aug House Prices +0.8% MM, -10.1%YY


LONDON - U.K. house prices rose for the third time in four months in August, while the annual rate of decline continued to ease, lender Lloyds Banking Group said Thursday.

According to HBOS, now owned by Lloyds, the Halifax house price index was up 0.8% from July and down 10.1% from August 2008.

In July, house prices rose 1.1% on the month and were down 12.1% on the year. "Demand for housing has increased since the start of the year due to better affordability and low interest rates," said Martin Ellis, Halifax's housing
economist. "This, together with low levels of property available for sale, has
boosted house prices over the last few months."

The measure is consistent with other housing market indicators, which over
recent months have pointed to a recovery in prices. However, that's unlikely to change the Bank of England's view that the hoped-for economic recovery will be weak and vulnerable to setbacks as long as bank lending remains low.

The BOE's Monetary Policy Committee is expected to leave its key interest
rate unchanged at a record low of 0.5% and its bond-buying program unchanged at GBP175 billion later Thursday.

Company Web site: www.halifax.co.uk

Dan:_4

and from the BBC:

http://news.bbc.co.uk/1/hi/business/8247859.stm

chucky

Dan: wrote: »

and from the BBC:

http://news.bbc.co.uk/1/hi/business/8247859.stm

<sarcasm>it's a spring bounce<sarcasm>

Dan:_4

chucky wrote: »

<sarcasm>it's a spring bounce<sarcasm>

or a bull trap...

HAMISH_MCTAVISH

The proportion of disposable earnings devoted to mortgage payments – a key affordability measure - has fallen significantly over the past 21 months.

Nationally, typical mortgage payments for a new borrower have fallen from a peak of 48% of average disposable earnings in 2007 Quarter 3 to 29% in August 2009.

Notably, mortgage payments relative to earnings are now below the long-term average of 35% recorded over the past 25 years.