MSE News: Halifax: housing shortage boosts prices 2 December 2009 at 2:29PM edited 8 December 2009 at 11:09AM in Debate House Prices & the Economy 57 replies 664 views

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"House prices rose for the fifth month in a row during November due to a shortage of homes for sale, figures showed today ..."

Read the full story:
Halifax: housing shortage boosts prices

These threads have been merged to avoid duplication. Thanks to HAMISH_MCTAVISH for the original post.

HAMISH_MCTAVISH

As per title.

Link shortly.

System

You've got to be joking

HAMISH_MCTAVISH

House prices rose by a faster-than-expected 1.4 percent in November, driven by somewhat higher demand and a low level of properties for sale, mortgage lender Halifax said on Tuesday.

Compared to a year ago, prices in the three months to November were 1.6 percent lower, up significantly from a maximum annual rate of decline of 17.7 percent in April.


Halifax said that house prices were likely to be flat in 2010, with prospects determined by how the economy develops and whether there is a big rise in the number of properties for sale.


Economists had forecast that house prices would rise 0.5 percent in November, reducing the year-on-year decline for the three months to November to 1.5 percent

http://www.execdigital.co.uk/November-house-prices-rise_39589.aspx

Interesting.

3 times bigger than forecast.

Halifax is catching up with Nationwide quickly.

Dan:_4

Official report here: http://www.lloydsbankinggroup.com/

Jonbvn

Wow!

Although I am a fence-sitter on HPI/C, what happened to the "cold depth of winter" falls?

BTW, can someone post an nice graph of this please?

chucky

Joeskeppi wrote: »

You've got to be joking

a positive 1.4% in those long dark winter months...

what will it be like in the spring :rolleyes:

SingleSue

Actually, I am not surprised by it....no data to back me up, it was just a feeling it would be a good positive.

Not that it is really showing around here mind.

Emy1501

Jonbvn wrote: »

Wow!

Although I am a fence-sitter on HPI/C, what happened to the "cold depth of winter" falls?

BTW, can someone post an nice graph of this please?

Its a bit of a myth that prices fall in the winter. Sales numbers tend to be down but prices can rise or fall at anytime of the year.

Not surprised that the figure is up though. Based on what I'm see round my way it would be Dec/Jan before we would see any falls if we see any.

Jonbvn

Emy1501 wrote: »

Its a bit of a myth that prices fall in the winter. Sales numbers tend to be down but prices can rise or fall at anytime of the year.

When prices first started rising earlier this year, a lot of the perma-bears were hanging their hats on the "depths of winter".

BTW, I almost forgot about the 70% drops by Xmas:rotfl:

According to HPC these figures are now propoganda!

Emy1501

Jonbvn wrote: »

When prices first started rising earlier this year, a lot of the perma-bears were hanging their hats on the "depths of winter".

BTW, I almost forgot about the 70% drops by Xmas:rotfl:

Once interest rates dropped to near zero and the government put a stop to repo's etc there was always going to be a bounce. Most though thought this would run out of steam by the summer which clearly it has not.

The number of new buyers/Seller entering the market for Jan/Feb will imo be the marker of where the market is going next year.

70% falls were always a load of rubbish!