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Debate House Prices
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January Nationwide MoM -0.1% YoY -1.1%
Spiv_2
Posts: 280 Forumite
http://www.nationwide.co.uk/hpi/
http://www.bbc.co.uk/news/business-12329847
http://www.bbc.co.uk/news/business-12329847
The Nationwide said the outlook for the market was "still highly uncertain" but forecast that house prices would stay static or drift a little lower during 2011.
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Comments
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"Demand for homes looks to have stabilised, albeit well below the levels prevailing before the crisis," said the Nationwide's chief economist, Robert Gardner.
"At the same time, there are few signs of a glut of unsold homes building up on the market that would lead to a sharper price correction. Indeed, there are tentative signs that the volume of homes coming onto the market may be slowing."“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 -
Interest rates remain at historic lows, and labour market conditions have stabilised
Hum! Labour markets have stabilised - not sure how they've reached that conclusion?0 -
Many commentators expect house prices to fall over the course of 2011.
While some estate agents and other property market businesses have forecast falls of up to 5% this coming year, other commentators and economists have suggested they could drop by more, possibly 10%.
http://www.bbc.co.uk/news/business-123298470 -
Dec 10 £162,763
Jan 11 £161,602
Nice fall, it's actually 0.7% without the adjustment. Generally Dec-Jan have heavy adjustment so for these to be negative shows sentiment is turning. Feb's figure will likely show a bigger fall as the adjustment isn't so large. Unemployment rising, inflation rising, possible rate rises. The next 12 months is going to be interesting.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
Cue Graham:
"AH HA! Another month of falls! Definitely a downward trajectory!"0 -
-0.1%.....
When the 70% club was formed, do you think they mentioned to their members it would take nearly 70 years to get there?
“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 -
LOL... lets all get excited about 0.1%.
What I dont understand is ... this represents about less than 10% of the mortgage market at the moment. Since Nationwides borrowing levels are just rock bottom. And dont feature in any of the best buy tables... who would even use them?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)0 -
if you look at the 3 month on the 3 month figure is back on an upward trend, soon to stagnating... You dont have to like it or accept it, its just the way it is.
When earnings start to rise due to higher than expected inflation, so too will house prices.
What I dont understand is everyone on here is going on about the high inflation, high inflation, But none of you are realising what is going to happen in the future, even if we curb inflation, wages still have to play some sort of catchup, and when this happens, affordability will be eased and house prices will be the first to bounce.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)0 -
(Non-seasonally-adjusted, LR shifted back 3 months to account for lag)0 -
if you look at the 3 month on the 3 month figure is back on an upward trend, soon to stagnating... You dont have to like it or accept it, its just the way it is.
Prices are falling and have been for 6 out of 7 months for Nationwide. Surely trying to spin that as prices are increasing just looks silly?
Whilst the falls are not really very dramtic or interesting a fall is still a fall, although perhaps Oxfordshire is different
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