MSE News: Nationwide says house prices at 2008 levels

the_ash_and_the_oak

don't really agree w the above. pretty sure I'm 2-D imo

chucky

the_ash_and_the_oak wrote: »

don't really agree w the above. pretty sure I'm 2-D imo

i don't think you're particularly bearish - you're very realistic in your views.

skap7309

Cleaver wrote: »

Monthly data is just noise.

Wait for the unemployment figures to hit.

"However, given that the housing market still faces considerable headwinds in the form of high unemployment, restrictive credit conditions and an impending withdrawal of the stamp duty holiday, it would be surprising to see house prices continuing to increase at the very strong rate seen in recent months,"

It's going to be a long, hard winter.

But it warned that price increases were unlikely to continue at their present rate

I only look at Land Registry stats.

according to the latest Nationwide figures.

This is a sign that the housing market is back to normal. Get in now before it's too late.

David Smith, of property consultancy Carter Jonas, said anyone hoping to sell now had a "window of opportunity" that might soon shut.

You bears have missed the boat.

"This toxic combination will bring more property on to the market as people struggle to meet their repayments, which will apply downward pressure on prices and potentially reverse the recent trend, at least for a time," he added

You can't compare anything at this level of transactions.

"The surge in so-called 'accidental landlords' has limited the supply of property in the sales market and increased the stock of homes available to let.

Wait until interest rates rise.

"We have to expect more turbulence ahead, specifically as a result of rising unemployment and interest rates," he said.

What do i win??

skap7309

HAMISH_MCTAVISH wrote: »

Nationwide is a more accurate reflection of what is going on in the market today than LR on a national basis.

Why? Because it the one with the strongest rise? Haha brilliant Hamish. :rotfl:

chucky

Dan: wrote: »

And front page news on the BBC:

House Prices 'back to 2008 level'


UK house prices have now recovered to the same level as a year ago, according to the latest Nationwide figures. The average price of a home last month was equal to September 2008, it said.
The building society said that UK house prices rose by 0.9% in September compared with August, the fifth consecutive monthly increase.
Nationwide said the price rises suggested that the worst of the recession was over. But it warned the rate of price increases may now slow.

http://news.bbc.co.uk/1/hi/business/8286028.stm

wow - back to 2008 levels.

an excuse to use Brit's standard size 48 red font - Ouch!!!!

mitchaa

What are the down from peak values now? Must be about 15%?

amcluesent

Prices will keep heading up -

1) Punters are going to take a haircut on the stock market in the next 6 months and will see houses as a 'safe' investment

2) QE has inflated the stock-market bubble, it'll soon feed into inflation. When peeps are getting -5% return on savings, then buying a tangible asset like a house will look sensible and of course the inflation will destroy the debt so it'll make sense to go in with a fixed-rate interest only deal now.

3) The collapse in house-building means there will be a 24 month backlog on new-builds and a housing shortage in the SE

GET IN!

chucknorris

I really thought that we had not seen the bottom of the market yet, as I expected the winter to bring falls to just below the lowest point of the market that we had already experienced. But now I am beginning to wonder, have we seen the bottom of the market? Possibly, IMO it's about 50/50.

mitchaa

October 2007 = £186,044
Sept 2009 = £161,816

£24,228 or 13.02% down from peak

Really2

skap7309 wrote: »

What do i win??

Sorry the only prizes today available are.

Really2 wrote: »

A Day arguing with GD. congratulations.