MSE News: Halifax: house prices up 10% since bottom

Former_MSE_Natasha

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

"The market has rebounded dramatically in 2009 but experts suggest the trend is unlikely to continue ..."

Read the full story:
Halifax: house prices up 10% since bottom

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

mystic_trev

http://news.bbc.co.uk/1/hi/business/8445260.stm

Really2

This long cold winter is taking some kicking in.

http://www.lloydsbankinggroup.com/media/word/HPI/HousePriceIndexDec2009.doc

mystic_trev

You're a minute late sunshine!

nollag2006

UK house prices were 1.1% higher in December than a year earlier

Great news - another index shows that the market is back in positivie territory. Long may it continue.

I'm sure we'll get a few bears on ranting about double dips any moment now...

inspector_monkfish

09:08 07Jan10 UK Halifax house price indices stronger than expected

The [UK HALIFAX DEC HPI] has come in stronger than expected with a 1% sa m/m rise vs the 0.5% consensus, while the 3-mth y/y rate increased by 1.1%.

These readings compare favourably vs the previous prints (in Nov) of a revised 1.3% (was 1.4%) and -1.6% resp, as house prices on the key measure mark their first positive 3M y/y gain since March 2008 (was also +1.1% coincidentally). Halifax (HBOS) said it sees house prices flat during 2010 and stated a pretty obvious, bland comment that interest rate cuts have helped to stimulate housing demand.

Also released at the same time, [SMMT] new car registrations rose 38.9% y/y, but down from Nov's 57.6%, while for 2009 as a whole registrations declined by 6.4%, which was the weakest outcome in some 14 years, despite incentives (like the scrappage scheme).

Really2

mystic_trev wrote: »

You're a minute late sunshine!

The extra minute was worth it for the yoy and the Lloyds link.

nollag2006

· Separate research recently released by Halifax showed that the proportion of disposable earnings devoted to mortgage payments by a potential new first-time buyer on national average earnings has almost halved from a peak of 50% in June 2007 to 27% in November 2009. This improvement in affordability has been a result of the combination of lower house prices and interest rate reductions.

This, to me, is perhaps the most encouraging part of the press release.

:T:T:T

FTB homes are now far more affordable than they have been for years.

As the mortgage market continues to thaw into the new year, we can only home that more potential FTBs are able to take advantage of this, and get started on the housing ladder

abaxas

Wohoo. The index that no-one is allowed to understand is up.

At least it makes CPI 'inflation' looks like a quality index.

mystic_trev

Really2 wrote: »

The extra minute was worth it for the yoy and the Lloyds link.

I actually delayed posting it as I thought I'd be beaten by the Frothing Scotsman What's happened to the old boy?

System

abaxas wrote: »

Wohoo. The index that no-one is allowed to understand is up.

Seriously?