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Debate House Prices


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Nationwide: +1% MoM +10.5% YoY

12467…11

Comments

  • abaxas
    abaxas Posts: 4,141 Forumite
    Generali wrote: »
    It can't be otherwise house prices wouldn't be rising.

    Maybe becasue we dont have sufficent funds for normal market levels?
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    abaxas wrote: »
    Maybe becasue we dont have sufficent funds for normal market levels?

    Presumably although completions are returning to more like normal levels. The banks still aren't lending though which is usually a big driver of demand.

    We'll see what happens. The sovereign debt crisis is just getting going now. As I maintained, if the solvent bail out the insolvent, the solvent beconome insolvent themselves (not very catchy I'll have to work on that). Maybe the bottom falling out of debt markets again will have an impact on house prices.
  • Batchy
    Batchy Posts: 1,632 Forumite
    Guys and Gals...

    If you look at the publication that Hamish didn't provide the link to, as it suited him to look at headline figures.

    You will even according to Nationwides volatile figures, prices on a 3 months rolling average are trending lower and lower, which fits many peoples understanding that prices will be stagnant for many years to come.

    The long term house price trend has slotted straight back into its trend line of 2.9% per annum. Which is exactly where it should be, it matches inflation pretty much. And that is the only position of stability.

    Anyone planning for long term double digit HPI needs to rethink... its not realistic and wont happen.

    http://www.nationwide.co.uk/hpi/historical/Apr_2010.pdf

    thats the link see for yourself.

    Over the years, Ive said prices needed to fall (since 2004) ... they did, my wages have gone up a lot, so now house's for me are a lot more affordable, and instead of only being able to afford a flat, I can now obtain a 4 bed detached and never have to move again, and for the last few years I've enjoyed saving , my life has been of a great quality and I've lived in houses i'd never have been able to afford to buy at the time, over and above not Worrying about debt and commitments, flexibility served me well... I am not in negative equity. Life is good.

    Whats happened has happened and needed to happen, and now its time to sit back and select that suitable property, that ive been dreaming of being mine for many years.
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Prices rose by 1% in April to push the cost of the average home to £167,802.
    The average first-time buyer still has to put down a 25% deposit to secure a mortage.

    That nearly £42,000 :eek: Not many FTB will have that and it shows as the level of FTB is at its lowest for 20 years
    Despite the revival in prices, which has taken many commentators by surprise, activity in the property market is still relatively subdued
    The strong rebound in house prices over the last year has taken place within the context of a subdued mortgage market, with the number of mortgage advances across the industry still well down on pre-crisis 'norms'," Mr Gahbauer said.

    In other words these "rises" are based on very very low transactions.

    The Nationwide predicted that the past year's surge in prices would tail off later this year, with sellers starting to outnumber buyers.



    Just look around your own area for a true picture of whats happening.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    doire wrote: »
    That nearly £42,000 :eek: Not many FTB will have that
    guess they'll have to rent... :eek:
  • Rinoa
    Rinoa Posts: 2,701 Forumite
    Another strong month. Better than most anticipated. NSA up 2%.

    Although maybe we should be storing current HPI to compensate for a few rainy days later.
    If I don't reply to your post,
    you're probably on my ignore list.
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    chucky wrote: »
    guess they'll have to rent... :eek:

    And with FTB the foundation of the housing market what affect will that have?
  • Batchy
    Batchy Posts: 1,632 Forumite
    chucky wrote: »
    guess they'll have to rent... :eek:

    well its getting cheaper, so I dont see why not!
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    doire wrote: »
    And with FTB the foundation of the housing market what affect will that have?
    what do you think happens when there is more people looking to rent with the same amount of properties...
  • abaxas
    abaxas Posts: 4,141 Forumite
    chucky wrote: »
    what do you think happens when there is more people looking to rent with the same amount of properties...

    Well if house prices can go up on higher supply levels.

    Maybe rents can go down on constricted supply!

    I think no-one knows.
This discussion has been closed.
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