MSE News: Halifax - House prices rebound after fall

System

angrypirate wrote: »

Interest rates are at .5%, no stamp duty for FTBs up to 250k and bulls here are happy at a 1.1%MOM rise? Jesus, if this was 2003 at those rates id expect at least 5% MoM rise. HPI is being completely artifically maintained by the government to make people feel good that the house they live in has "made them money". No wonder so many retards are voting labour.

Hah, I find these types of posts amusing.

Would anyone else expect 60% annualised HPI? I can only assume this person will be voting labour as well judging by the criteria set.

firsttimetom

chucky wrote: »

they were a large bunch before but the smarter ones have long gone

one day, maybe one day this will happen

Incorrect - The smarter ones are out of the housing market which is making pitiful returns, and holding their cash outside of sterling.

You may THINK your house is a good investment at 5% per year. THINK AGAIN.

Graham_Devon

JonnyBravo wrote: »

£500 is over optimistic? Are they making no sacrifice?
What about the extra costs of owning a house? We're always hearing how great it is to be renting and not having any "expensive maintenance" to contend with. What they going to do when they own and they get extra bills?

Anyhow, I've just run it on £157k, going up by 1% a month and saving only £300/month. They've still saved 2% towards their deposit in one year.


C'mon Graham we get the message that rising house prices don't help FTBers it's just you over egged your pudding on your example somewhat. Your maths has let you down before, it's done it again.
Oh yeah and do FTBers really buy at the average price of all transactions?

Some people will obviously be able to save £500 a month.

But if you are renting a place for £800 a month, and trying to save to buy (which I would assume is the majority of those saving to buy), then saving £500 a month at the same time will be on the difficult side.

Just my opinion. Most people have living costs to contend with while saving. Only a minority in my opinion will be living with their parents pretty much rent free.

ruggedtoast

The problem is, these figures are being fiddled with more than a fiddler fiddling tunes from Fiddler on the Roof at the opening ceremony of the annual World's Greatest Fiddlers Conference.

doire_2

I wonder how many transactions were completed in the past few months.

Really2

doire wrote: »

I wonder how many transactions were completed in the past few months.

It is back over 70,000 according to the nationwide.

Cleaver

ruggedtoast wrote: »

The problem is, these figures are being fiddled with more than a fiddler fiddling tunes from Fiddler on the Roof at the opening ceremony of the annual World's Greatest Fiddlers Conference.

I don't think that's true. But even if it is, as long as they are fiddled with in the same way each month over the past few years as they've gone down and up, then you get an accurate picture of the trend for house prices.

It's like your weighing scales being wrong. They may not tell you your correct weight, but if you weigh yourself every day for a year then they should still tell you whether you're getting heavier or lighter.

ruggedtoast

Cleaver wrote: »

I don't think that's true. But even if it is, as long as they are fiddled with in the same way each month over the past few years as they've gone down and up, then you get an accurate picture of the trend for house prices.

It's like your weighing scales being wrong. They may not tell you your correct weight, but if you weigh yourself every day for a year then they should still tell you whether you're getting heavier or lighter.

Yeah I was joking really. I've ceased to care much as I'm moving out of London back to the provinces where prices are much more affordable. For me anyway, as I'm taking a London salary with me.

All markets are local markets.

chucky

firsttimetom wrote: »

Incorrect - The smarter ones are out of the housing market which is making pitiful returns, and holding their cash outside of sterling.

You may THINK your house is a good investment at 5% per year. THINK AGAIN.

what a coincidence that so many of these 'bearish' types on this site hold these 80% cash deposits for their houses in gold or a foreign currency. :eek:

i think you're telling lies :T

houses are expensive - get over it.

JonnyBravo

Graham_Devon wrote: »

Some people will obviously be able to save £500 a month.

But if you are renting a place for £800 a month, and trying to save to buy (which I would assume is the majority of those saving to buy), then saving £500 a month at the same time will be on the difficult side.

Just my opinion. Most people have living costs to contend with while saving. Only a minority in my opinion will be living with their parents pretty much rent free.

Of course it's harder if you're paying rent.

"40% of first-time buyers will live with parents before they buy a property in order to save money"

from http://www.moneymarketing.co.uk/first-time-buyers-expect-parental-assistance/127725.article

So a minority yes but a sizeable one.