House prices down 0.9% Nationwide report out

sarkin1

http://www.nationwide.co.uk/hpi/historical/Aug_2010.pdf

:beer::rotfl::cool:

reduceditem

Let battle commence!

sarkin1

reduceditem wrote: »

Let battle commence!

RenovationMan

I'm not normally interested in House prices, but had a spare minute and read the report. I really liked this bit:

“At the moment, however, interest rates appear likely to
remain at their current level until well into 2011. Any
increases thereafter are likely to be relatively gradual,
leaving variable rate borrowers with some time to
switch to fixed rates if they desire greater certainty over

their monthly repayments.”

That'll do me nicely.

sarkin1

RenovationMan wrote: »

I'm not normally interested in House prices, but had a spare minute and read the report. I really liked this bit:

“At the moment, however, interest rates appear likely to
remain at their current level until well into 2011. Any
increases thereafter are likely to be relatively gradual,
leaving variable rate borrowers with some time to
switch to fixed rates if they desire greater certainty over

their monthly repayments.”

That'll do me nicely.

and the value of your house is falling faster than you can repay the debt. :rotfl:

HAMISH_MCTAVISH

sarkin1 wrote: »

:cool:

Not entirely sure I'd be celebrating so much if I were you.....

There is little evidence of distressed selling, however, with the Council of Mortgage Lenders’ second quarter figures showing another drop in mortgage arrears and possessions.

As such, the current period of price declines is likely to remain relatively modest.

Given that the price increases of the last year had gotten ahead of the recovery in the wider economy, the current correction is not an unhealthy development.

Not looking good for the crashaholics.

sarkin1

Mate house prices are falling and you are wrong FACT

DervProf

HAMISH_MCTAVISH wrote: »

Not entirely sure I'd be celebrating so much if I were you.....



Not looking good for the crashaholics.

Spoilsport.

Anyway, the good news is that we won`t see Fionulalalalala on breakfast news, grinning at us as she tells us that we are "wealthier" again this month. In fact, we haven`t seen her since house prices started to fall, some other person fron Nationwide now has the job. Strangely, it seems to now be a part time job, they don`t appear on TV so much. I wonder why ?

Generali

Not seasonally adjusted, prices fell 1.7% for the month. Prices up 3.9% YoY and 1.9% for the calendar year.

Those predicting nominal stagnation for 2010 are looking likely to be right so far. With the RPI at about 5%, stagnant is a pretty mediocre return on an investment. The interesting bit will be when either interest rates start to rise or the economy falls down a hole.

HAMISH_MCTAVISH

sarkin1 wrote: »

Mate house prices are falling and you are wrong FACT

Given that I predicted several months of falls this year on the 2010 predictions thread, I'm actually right.

DervProf

http://www.bbc.co.uk/news/business-11161166

"Given that the price increases of the last year had gotten ahead of the recovery in the wider economy, the current correction is not an unhealthy development."

I`ll add that what happened 2001 -2007 ? Did house prices not "get ahead" of the wider economy for most of that period ?

As far as I know GDP growth and inflation have never been above 5% in recent history, can the same be said for house prices ?