MSE News: Nationwide: House prices creep up 0.7% in March

Blacklight

When_is_the_reset? wrote: »

I don't know if houses will be cheaper or more expensive one month to the next.

I only want to know why anyone wants them to be more expensive.

I suppose it helps a very small percentage of people that are professional landlords or developers. These are not the sort that I really want to help.

It prevents all the people who have bought property within the last say, ten years from going into negative equity. Some people think having most of the country owing more than they can sell their house for is a good thing.

Personally I think these people are greedy and looking for a bargain buy at others expense because they either can't be bothered to work for something, or they feel they're owed a fortune for nothing.

They are not the sort of people I want to help.

DaddyBear

HAMISH_MCTAVISH wrote: »

+9% YoY, up £15,000 or so since trough.......

You have an interesting, and truly unique, interpretation of the word "stagnation".



YoY should drop from here. CEBR etc are forecasting 6% or so this year, and 20% from Q4 2009 prices by the end of 2012. Which although far from the heights of the boom, is also far from stagnation.

Down last month, up this month, land registry pretty much stagnant over the last few months. YOY starting to drop and will continue falling as the increases from last Summer come around. Not to mention the post election fallout.

nembot

Pete111 wrote: »

Indeed

Exactly when are bears likely to accept their crash may have been and gone and that the graph is as relevant as Vince Cable in last nights debate.

Interesting and worthy of discussion? Sure....but relevant? Sorry.

Because many bears accept that little numbers are irrelevant in context of the big picture.

Let's not foget that sales during jan and Feb, were extremely slow due to the weather, so .7% in March is hardly anything to rejoice about.

Unless you NEED prices to rise, eh Hamish?

DaddyBear

Blacklight wrote: »

It prevents all the people who have bought property within the last say, ten years from going into negative equity. Some people think having most of the country owing more than they can sell their house for is a good thing.

Personally I think these people are greedy and looking for a bargain buy at others expense because they either can't be bothered to work for something, or they feel they're owed a fortune for nothing.

They are not the sort of people I want to help.

Such a sad and narrow-minded atitude. It's always the homeowners that are the victims isn't it. Who cares if they are in negative equity? If they bought sensibly then they can afford the repayments and as they pay off the mortgage and prices slowly rise they won't be in negative equity. As for people who bought at rediculous wage multiples on interest-only mortgages having done no research, then that's just natural selection.
It's people like you, who think that house prices rises of 200% in ten years is a good thing and should be mantained at all costs, that are the selfish ones.
High house prices reduces social mobility, removes the incentive to work, increases the welfare state and reduces the amount if disposable income that can be put into the economy.
To say that those wishing for house price drops are selfish is just nonsense. There is an element of VI in all 'opinions' but I'm worried about how my children will buy a house in 30 years time if the bull fantasy comes true, and how this once great country will fare with an ever increasing welfare budget and a shrinking economy.

Pete111

nembot wrote: »

Because many bears accept that little numbers are irrelevant in context of the big picture.

Let's not foget that sales during jan and Feb, were extremely slow due to the weather, so .7% in March is hardly anything to rejoice about.

Unless you NEED prices to rise, eh Hamish?

Oh come on Nembot. The big picture is that we have now had rises in something like 10 out of the last 12 months. Little numbers become big ones eventually...

phil_b_2

I expect prices to be pretty flat for a while now, though I'd say there is more thance of them rising than falling.

Really2

nembot wrote: »

Let's not foget that sales during jan and Feb, were extremely slow due to the weather,

Did not take long for the bears to start using the weather after mocking it.

nembot wrote: »

Yet prices are down officially, care to explain?

If you say snow, I will laugh.

Blacklight

Touch a nerve?

DaddyBear wrote: »

Who cares if they are in negative equity? If they bought sensibly then they can afford the repayments and as they pay off the mortgage and prices slowly rise they won't be in negative equity.

I don't quite know what to say about this. It's clear you agree that house prices only go one way. Smacks of someone looking for a trough to make a quick buck.

No harm in that, but at the expense of hardworking families just trying to get on with their lives it does seem a bit selfish.

doire_2

Looks like its slowing down. Labour has ran out of ideas and money to keep it inflated. Just shows they were doing everything in their power to keep the doomed market inflated......wonder how many votes they won?


The Nationwide said over the past few months the property market had become more subdued.
In the three months to the end of March prices rose by 1.6%, compared with a 1.8% increase in the previous three months.

The last two months are consistent with a relatively flat profile for house prices, and in line with the recent drops seen in buyer enquiries and house sales," said Martin Gahbauer, the Nationwide's chief economist.
The 0.7% month-on-month rise in March was a reverse of the previous month's 0.8% fall, but mortgage activity remained low, suggesting no great upward pressure on house prices.
"Preliminary figures show that the number of loans taken out for house purchases failed to recover from January's large dip, suggesting that weakness in house sales at the start of the year may have been due to more than just the snowy weather," Mr Gahbauer added.


Face it bulls. Very low mortgage approvals and lack of FTB means there are no foundations :rotfl::rotfl::rotfl:

Really2

doire wrote: »

The last two months are consistent with a relatively flat profile for house prices, and in line with the recent drops seen in buyer enquiries and house sales," said Martin Gahbauer, the Nationwide's chief economist.
The 0.7% month-on-month rise in March was a reverse of the previous month's 0.8% fall, but mortgage activity remained low, suggesting no great upward pressure on house prices. [/B]


Face it bulls. Very low mortgage approvals and lack of FTB means there are no foundations :rotfl::rotfl::rotfl:

But who has said prices are going to take off. I have been saying for months now we have most probably seen the nominal bottom and we are going in to stagnation. (yet I am still a bull??)
So I fail to see a reason for the :rotfl: as you are simply agreeing that in reality the "crash" is over and any falls now are likely to be in "real terms" not nominal.