Nationwide +0.5%

Procrastinator333

You are all a bit slow today....

Month +0.5%.

More important QoQ +0.6%.

Annual +0.1%.

http://www.nationwide.co.uk/hpi/historical/Mar_2011.pdf

Davesnave

Anecdotal (I know you love 'em!) A property we viewed in 2008 was on the market last year at £355k.

Yesterday, I saw it reappear on Rightmove, complete with a huge battery of brand new solar panels, at £399k.

Clearly, this year, the owner has at last got his strategy right.

julieq

Oscillation around a settling point innit. Nothing to see here, it's just stagnation.

chucky

julieq wrote: »

Oscillation around a settling point innit. Nothing to see here, it's just stagnation.

it is stagnation but a little bit more than that for FTBs.

the nominal increase is 2.2%, i know it's one month but it means that an FTB is 2.2% less closer to buying his house but has also been hit by his real income dropping making it more difficult to put together that deposit.

this isn't really good news.

Graham_Devon

Dissapointing.

However, thought they had risen more in all honesty. Since Mar last year, house prices have only risen just shy of £200.

Cleaver

Graham_Devon wrote: »

Since Mar last year, house prices have only risen just shy of £200.

I'm a homeowner so I'm off to spend £200 in town today, safe in the knowledge that it's free money.

Do you remember the days when we all looked forward to these types of threads? 153 pages of debate and arguments. Now there's a good chance of a few years of nothing really happening. Maybe we should just turn this in to a music debate forum instead. That would work with me, as I'm much more interested in music than house prices. I have no idea why I'm here to be honest.

wotsthat

Some interesting comments on the effect of potential rate rises..

How much of a squeeze on borrowers?
For those with a capital repayment mortgage, a typical mortgage payment is currently around £455, equivalent to 23% of individual take home pay. A one percentage point rise in interest rates would see this rise to £494 - 25% of current take home pay. In the five years before the crisis, the Bank Rate averaged 4.5%. A rise to this level would see typical payments rise to £621 if rate increases were fully passed on to borrowers. If the Bank of England were to increase interest rates to 4.5% by the end of 2013 and wages keep rising at the current pace of 2.3% a year, this would take typical payments on repayment mortgages to 29% of take home pay.

Looks like the typical mortgage holder should be able to bear the cost of any increases in rates. It's suggesting 29% of pay to service a mortgage even if rises are fully passed on.

HAMISH_MCTAVISH

Graham_Devon wrote: »

However, thought they had risen more in all honesty. Since Mar last year, house prices have only risen just shy of £200.

Nice spin....

They were YoY negative for the last couple of months, to much glee from a certain subsection of our posters.

This is a bit of a crushing blow for those who predicted the YoY drops would be accelerating now.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Nice spin....

Spin?

It's part of the main nationwide PDF. Right near the top. States the year since Mar 10, house prices have risen 0.1%. Thought it was more personally.

It's not spin. It's completely factual and makes up the report you silly boy.

HAMISH_MCTAVISH

I see many of our bears are missing this morning.

We'd usually have a nice assortment of graphs and charts showing the state of the market by now, along with a few dozen gloating posts.

Yet strangely, this morning absolutely nothing. Complete silence.

I do hope they're OK....

JonnyBravo

Graham_Devon wrote: »

Spin?

It's part of the main nationwide PDF. Right near the top. States the year since Mar 10, house prices have risen 0.1%. Thought it was more personally.

It's not spin. It's completely factual and makes up the report you silly boy.

Quite right.
The data is the data.
It had been going down a little bit for a little while, before that it had been going up for quite a while, before that it had been going down for even longer than that and before that it had been going up for blinking ages.

What Hamish is getting at is he wants/makes all the reports and comments to be leaning towards the "I expect more rises to come" whereas you want/make comments towards the "I can only see more drops to come".
You have to resign yourself to not agreeing with him over trivialities. You both pull each other up on them. I guess it's kind of a reflex action by now. (Of course it's not just "you" in the literal sense, but both "camps")