Debate House Prices


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MSE News: Nationwide: house price growth slowing

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  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Forumite Posts: 28,592
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    poppy10 wrote: »
    Prices now only 13% below their 2007 peak.

    12.9%....

    Oct 07 Peak price was £186,044

    Feb 09 Trough price was £147,746 which was -20.59% from peak

    Oct 09 Current price is £162,038 which is -12.9% down from peak, and +9.67% up from the trough in february.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Graham_Devon
    Graham_Devon Forumite Posts: 58,560
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    HAMISH_MCTAVISH wrote: »
    12.9%....

    Oct 07 Peak price was £186,044

    Feb 09 Trough price was £147,746 which was -20.59% from peak

    Oct 09 Current price is £162,038 which is -12.9% down from peak, and +9.67% up from the trough in february.

    The Thomson Reuters Building
    South Colonnade
    Canary Wharf
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    E14 5EP

    You better write in to reuters and tell them!

    And then write to Nationwides cheif economist, as he's wrong too!
  • StevieJ
    StevieJ Forumite Posts: 20,172
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    inspector_monkfish wrote: »
    Rise was less than expectations though :confused:

    I thought the expectation was 1.9% higher YOY , as per your post :confused:


    Economists were expecting the Nationwide house price index to rise 0.7% on the month and 1.9% on the year in October, according to a Dow Jones Newswires survey of economists last week.

    Whereas
    Property prices were 2% higher in October than in the same month the previous year, with the average home costing £162,038. icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Graham_Devon
    Graham_Devon Forumite Posts: 58,560
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    StevieJ wrote: »
    I thought the expectation was 1.9% higher YOY , as per your post :confused:


    Economists were expecting the Nationwide house price index to rise 0.7% on the month and 1.9% on the year in October, according to a Dow Jones Newswires survey of economists last week.

    Whereas
    Property prices were 2% higher in October than in the same month the previous year, with the average home costing £162,038. icon7.gif

    Economists were expecting the Nationwide house price index to rise 0.7% on the month
  • StevieJ
    StevieJ Forumite Posts: 20,172
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    Graham_Devon wrote: »
    Economists were expecting the Nationwide house price index to rise 0.7% on the month

    :rotfl: And 1.9% on the year, whereas it was 2% :confused:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Really2
    Really2 Forumite Posts: 12,398 Forumite
    Graham_Devon wrote: »
    Economists were expecting the Nationwide house price index to rise 0.7% on the month

    Well they have not scored a direct hit all this year why change a habit.:)

    How many times have they under forecast this year?
  • chucky
    chucky Posts: 15,170 Forumite
    Graham_Devon wrote: »
    Economists were expecting the Nationwide house price index to rise 0.7% on the month

    they've got it wrong every month.

    you've given up arguing that house prices couldn't and wouldn't rise.
    now you're arguing about economist predictions.
    poppy10 wrote: »
    Prices now only 13% below their 2007 peak.
    did you sell in 2007 and are now looking to buy? :confused:
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Forumite Posts: 28,592
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    Graham_Devon wrote: »

    And then write to Nationwides cheif economist, as he's wrong too!

    He is wrong.

    But I bet he can at least spell his own title correctly....;)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • MORPH3US
    MORPH3US Forumite Posts: 4,906 Forumite
    I always look forward to these threads :D
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    The truth is out there in the market, actual buying and selling prices. Even people who really want to believe the Nationwide index are starting to question it's validity now.
This discussion has been closed.
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