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

Really2

nembot wrote: »

Can the Halifax, Nationwide, estate agents or any lender be trusted when there is so much to lose?

If that is the case why make out massive falls last year?

tomstickland

IveSeenTheLight wrote: »

There may be lower numbers but still sufficient to show accurate averages.

An average will always be accurate. Whether it is meaningful is another matter.

nembot

Really2 wrote: »

If that is the case why make out massive falls last year?

Well it was blatantly obvious that houses were totally overpriced and the market had gone nuts during the previous years, but clever media handling and some time to give joe public the chance to chill out and then they're at the ramping again.

Can you honestly say that you see real improvements in the economy as a whole that would sustain these rises?

I know I'm sometimes rather pessimistic (understatement of the year) about the whole thing but truthfully how can people say we're returning to some kind of normality, when normality for those involved is absolute madness with regards to house prices.

Understandably some people would like incredible price rises and to be perfectly honest as a home owner myself I'm certainly not against the scenario - but at the expense of the economy and peoples lives, is this a good thing at the end of the day?

Really2

nembot wrote: »

Well it was blatantly obvious that houses were totally overpriced and the market had gone nuts during the previous years, but clever media handling and some time to give joe public the chance to chill out and then they're at the ramping again.

Can you honestly say that you see real improvements in the economy as a whole that would sustain these rises?

I hardly think it is a conspiracy.

The current price rises are due to supply and demand, that is all.

I see the economy is slightly better than this time last year for sure.

HAMISH_MCTAVISH

nembot wrote: »

I'm certainly not against the scenario - but at the expense of the economy and peoples lives, is this a good thing at the end of the day?

Yes but it's demonstrably not at the expense of the economy. The economy and house prices are now linked very closely.

When prices crashed, so did the economy. As prices are recovering, so is the economy.

Housebuilding, renovating and furnishing are a significant part of the economy. A house price crash causes far less money to be spent in the wider economy.

doire_2

HAMISH_MCTAVISH wrote: »

Yes but it's demonstrably not at the expense of the economy. The economy and house prices are now linked very closely.

When prices crashed, so did the economy. As prices are recovering, so is the economy.

Housebuilding, renovating and furnishing are a significant part of the economy. A house price crash causes far less money to be spent in the wider economy.

:rotfl::rotfl:

chucky

tomstickland wrote: »

Imagine that the mass market comes to a standstill and the only transactions are some wealthy people buying expenisve vehicles. Yes, the average price would go up, but it would not mean that the price of the average vehicle was going up.

the figures are mix adjusted - it doesn't matter expensive property or cheaper property skewing the averages. it doesn't work like that

Kenny4315

How much does everyone think the market will rise between now and next October ? It be really cool if we got back to 15+ per year wouldn't it. The market would be double the current postion in very little time at all, that would be great ....

Who are the bear woodcutters these days ...... are they all out of timber !!!

Thrugelmir

Kenny4315 wrote: »

How much does everyone think the market will rise between now and next October ? It be really cool if we got back to 15+ per year wouldn't it. The market would be double the current postion in very little time at all, that would be great ....

Who are the bear woodcutters these days ...... are they all out of timber !!!

A 7 - 15% fall over the next year. Hardly bearish. But very hard to see what will lift the market substantially in the short term.

Transactions levels will fall back from current levels. As the economic climate starts to bite and becomes a reality for many, who so far have been unscathed.