MSE News: Halifax: house prices up for third successive month

StevieJ

doire wrote: »

Are you taking the !!!!?

Aer Lingus just announced 800 jobs to go.

Strange post of his, I think job losses will continue for at least another 12 months, that is what happens post recession.

doire_2

Really2 wrote: »

UK average, they have not said it is in your area have they?

Yes they have http://www.nationwide.co.uk/hpi/historical/Q3_2009.pdf

The third quarter saw a rise in house prices in Northern Ireland for the first time in two years. Prices rose by 9.7%, the highest of any UK region, and a substantial improvement from the 4.3% quarter-on-quarter fall seen in the second quarter.

doire_2

Really2 wrote: »

Did they need to be done or was it to increase profits.
Are they just being a Cunning Lingus?

http://news.bbc.co.uk/1/hi/business/8294092.stm


Added to this is 1,700 to go at BA

Really2

doire wrote: »

Yes they have http://www.nationwide.co.uk/hpi/historical/Q3_2009.pdf

But still down 8% YOY!

It is sale prices, if the data was OK when falling you can't say it's false now.

Really2

doire wrote: »

http://news.bbc.co.uk/1/hi/business/8294092.stm


Added to this is 1,700 to go at BA

It's odd all the job losses yet rising prices.
Perhaps you need to look at other reasons for this to happen rather than finding more and more job losses.

chucky

Really2 wrote: »

Nice map here. that gives LTV for the country over 2006 and 2007

http://www.mortgages.co.uk/mortgage-trends/year/average-loan-to-value-06-07.html


lets not get confused that 100%+ was the norm.

Also average purchase price and the average mortgage.
http://www.mortgages.co.uk/mortgage-trends/year/average-property-price-06-07.html
http://www.mortgages.co.uk/mortgage-trends/year/average-mortgage-value-06-07.html

Interesting data.

another HPC urban myth kicked into touch

baileysbattlebus

Graham_Devon wrote: »

It's not a myth. It wasn't small numbers of loans. Most were at higher multiples.



Thats the average.

The average of 3.5x ended in 2002.

I think Julie was talking about the multilple borrowed to buy a house not the average house price vs average salary multiple.

Data in this link is provided by the Survey of Mortgage Lenders and the Regulated Mortgage Survey.

It shows that for 2004 (the worst year) that the average FTB put down a depost of 21% of the purchase price and that the average house a FTB bought was 4.57x income but the amount borrowed was 3.36x income.

So while prices may have been 7x the average wage - most people weren't buying houses costing 7x their wage and certainly not borrowing that amount - I know they are averages - and there will be some at high multiples but it looks as if the vast majority weren't.

http://www.communities.gov.uk/documents/housing/xls/table-517.xls

the_ash_and_the_oak

StevieJ wrote: »

If those loans ever appeared :rolleyes: they would have most likely been for young professionals who would be expected to increase salaries fairly rapidly.

should we maybe find out if these loans existed first before deciding who they were probably for? (I'm assuming young professionals still exist in 2009?)

mr_fishbulb

Really2 wrote: »

It's odd all the job losses yet rising prices.
Perhaps you need to look at other reasons for this to happen rather than finding more and more job losses.

The people who are buying still have jobs. There are less houses for sale, and there are probably less people looking, but the number of people looking is still high enough to keep the sales prices up on the few properties available.

Really2

mr_fishbulb wrote: »

The people who are buying still have jobs. There are less houses for sale, and there are probably less people looking, but the number of people looking is still high enough to keep the sales prices up on the few properties available.

gold Star