MSE News: Nationwide: strong house price growth in January

Batchy

HAMISH_MCTAVISH wrote: »

The closest thing to what you're thinking of is probably the RICS report, which polls surveyors as to whether prices are rising or falling in their area. RICS use a wierd model, which reports a net balance of those reporting rises or falls in each area. So if there are 67 surveyors in Cumbria, for example, and 37 report rises, and 30 report falls, they state that the balance is 7 more reporting rises than falls? (I think.... or possibly they convert to percentages first.... it's an odd way of doing it and I haven't got my head around it)

As far as I know though, by regional breakdown, 10/12 regions are showing prices rising. And 12/12 are higher than they were at the bottom.

There will obviously be pockets of underperformance, I'd imagine house prices aren't rising in a small town in the Midlands near some big manufacturing plant thats closed down and made 2000 people redundant, just as there are pockets of overperformance, like Aberdeen rising 19% in 9 months........

But in general terms, we debate the averages, and the averages are not that far off for most people.

I like what you are saying here... can't disagree as you added, "most people".

If you add these assumptions to all your posts, you will never be face with an argument ever again... lol

Dan:_4

and from the BBC:

House prices start 2010 with a rise

The rate of house price increases could soon rise above 10% a year, the Nationwide building society has said.

Its latest survey shows that the average UK house price rose by 1.2% in January, pushing the annual rate up to 8.6%.

http://news.bbc.co.uk/1/hi/business/8485891.stm

Batchy

Looking at the FEB 09 figure we are going to have to see a massive swing the other way to show a reduction in the YOY increase in nationwide stats. As the FEB 09 figure was 147k. Unlikely to show anything more bearish than these this month which aint a lot! Not a great month to pick to show a SWING by Carolt ... IMO, the swing will be March, ie, as it showed a jump up 12 months before in march 09 from feb 09. and this would need to be Matched in March 10 to see the same annual level as we will see in Feb 10.

I still don't like the stats.

But if im honest over the last 5 days, there have been a lot of SSTC. and under offers. expecting to see a jump in volumes this year maybe.

Lotus-eater

Isn't anyone worried that we suddenly seem to be on a massive house price rise staircase again?
All I can see is laughing at people who dared to think prices would come down to a reasonable level.

chucky

abaxas wrote: »

LOL!

Halifax SA doesnt work like that, they can take from previous months to readjust the current. Ie it's all made up.

Harry_Powell wrote: »

But, but...

You seemed to be more than happy to quote the Halifax figures as gospel when house prices were falling:

http://forums.moneysavingexpert.com/showthread.html?t=619975&highlight=

Very strange turn around now that they are climbing! Or is it the case that only negative figures are correct?

tut, tut these bears on this forum are losing credibility day by day

it must be tough clutching at straws each day

Harry_Powell

We're just in the eye of the hurricane. Once we have the election, house prices will drop like stones when people's spending power is slashed by a combination of direct and indirect tax increases and Interest Rate increases.

The housing crash part 1 was caused by a credit crunch resulting from dubious lending practices primarily in the USA. Housing crash 2 will be caused by a 'money crunch'.

You're all living in a fools paradise if you think these stockmarket and housing market rallies are sustainable.

chucky

Harry_Powell wrote: »

We're just in the eye of the hurricane. Once we have the election, house prices will drop like stones when people's spending power is slashed by a combination of direct and indirect tax increases and Interest Rate increases.

The housing crash part 1 was caused by a credit crunch resulting from dubious lending practices primarily in the USA. Housing crash 2 will be caused by a 'money crunch'.

You're all living in a fools paradise if you think these stockmarket and housing market rallies are sustainable.

top bombing Harry - this recession is a warning shot.
the UK specific cyclical recession will bite at some point... not for a few years though

Dan:_4

Lotus-eater wrote: »

All I can see is laughing at people who dared to think prices would come down to a reasonable level.

That's because those people mocked and insulted anyone who challenged their 50% fall dream.

mr_fishbulb

Lotus-eater wrote: »

Isn't anyone worried that we suddenly seem to be on a massive house price rise staircase again?
All I can see is laughing at people who dared to think prices would come down to a reasonable level.

Don't look behind the curtain. Everything is fine now.

This thing is all the proof you need --> :j

Watch the jumping man. Don't ask questions or you will get one of these in your face for being a muppet: :rotfl:

Lotus-eater

Dan: wrote: »

That's because those people mocked and insulted anyone who challenged their 50% fall dream.

So now the playground is quiet, you can shout yah boo back at them?

Can someone please link to the regional figures, I can't seem to find them?