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Debate House Prices
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Nationwide +0.4 Mom +5.9% YoY
Rinoa
Posts: 2,701 Forumite
UK house prices rose by 5.9% in 2009, making some recovery from the massive falls seen last year, the Nationwide building society has said.
The rise in prices seen this year compared with a sharp fall of 15.9% in 2008, the lender said.
The average cost of a home went up for the eighth month in a row in December, rising 0.4% to £162,103.
However, the Nationwide predicted that prices would change little over the coming year.
"This year's recovery has to some extent been driven by transitory factors and there are reasons to believe that it will lose momentum over the coming year," said Martin Gahbauer, the Nationwide's chief economist.
"At the same time, there is no obvious catalyst on the near-term horizon that would trigger significant renewed falls in prices, such as a sharp spike in interest rates."
:j
The rise in prices seen this year compared with a sharp fall of 15.9% in 2008, the lender said.
The average cost of a home went up for the eighth month in a row in December, rising 0.4% to £162,103.
However, the Nationwide predicted that prices would change little over the coming year.
"This year's recovery has to some extent been driven by transitory factors and there are reasons to believe that it will lose momentum over the coming year," said Martin Gahbauer, the Nationwide's chief economist.
"At the same time, there is no obvious catalyst on the near-term horizon that would trigger significant renewed falls in prices, such as a sharp spike in interest rates."
:j
If I don't reply to your post,
you're probably on my ignore list.
you're probably on my ignore list.
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Comments
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:beer:
What a great year 2009 has ended up being after all.“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”0 -
UK house prices rose by 5.9% in 2009, making some recovery from the massive falls seen last year, the Nationwide building society has said.
The rise in prices seen this year compared with a sharp fall of 15.9% in 2008, the lender said.
The average cost of a home went up for the eighth month in a row in December, rising 0.4% to £162,103.
However, the Nationwide predicted that prices would change little over the coming year.
"This year's recovery has to some extent been driven by transitory factors and there are reasons to believe that it will lose momentum over the coming year," said Martin Gahbauer, the Nationwide's chief economist.
"At the same time, there is no obvious catalyst on the near-term horizon that would trigger significant renewed falls in prices, such as a sharp spike in interest rates."
:j
They seemed to have fallen after the seasonal adjustment is taken out not by much though. I note they have picked up on my concerns about the cash rich. I go along with most of what they say though.0 -
Up 6% Y0Y !!! What a fantastic year 2009 was - here's hoping that 2010 is just as good
Happy new year all !0 -
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It's going to be a long cold winter...... froth froth froth0
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No but no but no cos I saw a house on property bee and it's asking price dropped so this is VI.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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They seemed to have fallen after the seasonal adjustment is taken out not by much though. .
They did. By a few hundred quid in the non seasonally adjusted data.
So I suppose technically prices are in fact falling over winter.....:D“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”0 -
Anybody know how the increase is calculated?
Novembers average house price was £162,764, Decembers average house price was £162,103. Looks like a decrease to me? :huh:
Nov
http://news.bbc.co.uk/1/hi/business/8387203.stm
Dec
http://news.bbc.co.uk/1/hi/business/8435745.stm0 -
Anybody know how the increase is calculated?
Novembers average house price was £162,764, Decembers average house price was £162,103. Looks like a decrease to me? :huh:
Nov
http://news.bbc.co.uk/1/hi/business/8387203.stm
Dec
http://news.bbc.co.uk/1/hi/business/8435745.stm
Yeah it has. Seasonal adjustment0 -
Anybody know how the increase is calculated?
Novembers average house price was £162,764, Decembers average house price was £162,103. Looks like a decrease to me? :huh:
Nov
http://news.bbc.co.uk/1/hi/business/8387203.stm
Dec
http://news.bbc.co.uk/1/hi/business/8435745.stm
Have a look here for an explanation of most of the main house price survey methodologies:
http://www.houseprices.uk.net/articles/house_price_indices/0
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