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Debate House Prices
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Nationwide +0.5%
Comments
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johnycoldears wrote: »Isn't eveyone missing the real reason for the small rise reported ?
I.E a comparitively few people buying £million + houses now to beat the April stamp duty rise.
It doesn't take much at that price level to skew the overall trend.
1. +2.2% is not a small rise.
2. Nationwide mix adjust to eliminate such skew.“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 -
there needs to be effective demand across all types of properties.It only becomes demand if people can and want to bid more. At present they are either unable or unwilling to do so.
there currently isn't enough at the lower levels which if it continues causes an issue for a generation which investors will probably make the most of.0 -
it's not really...Good news for bears then.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.0 -
there needs to be effective demand across all types of properties.
there currently isn't enough at the lower levels which if it continues causes an issue for a generation which investors will probably make the most of.
No, that's nonsense. If there wasn't enough demand, prices would fall back. There's exactly enough demand to sustain today's prices, but that's coming from two sources, first time buyers and landlords.
Actually there seems to be a bit more demand in the lower end sectors, which sustains the view that first time buyers are wanting to get into the market.0 -
RenovationMan wrote: »However to take you up on your point. Are you expecting 15% of mortgage holders to struggle? And could you define 'struggle'? I assume by the way you worded your question, you mean that 'struggle' means they would have to lose or be close to losing their home for it to impact other people. Could you also define what you mean by 'impact other people'? Do you mean they struggle enough to be forced to sell their houses and reduce the HP average?
So many linguistic options to consider.
From the BOE Q1 credit conditions survey published today.In the 2010 Q4 survey, lenders had expected the default rate
on secured loans to households to stabilise in 2011 Q1, after
having fallen during 2010. But lenders reported that the
default rate had increased in 2011 Q1, and was expected to
increase again in the coming quarter . Lenders
expressed concerns over the potential impact of increases in
Bank Rate on default rates. Losses given default were also
reported to have increased in the previous quarter, and were
expected to increase a little further in the next three months.
Some lenders commented that they expected falling house
prices to exert upward pressure on losses given default in the
coming quarter.
From the NRAM results. Which shows that 9% and 13% respectively with these lenders are behind with mortgage repayments currently.The vast majority of customers are up to date with their payments (B∓B: 91% and NRAM: 87%)0 -
well prices aren't exactly leaping forwards for flats are they but for detached properties they're cruising ahead.No, that's nonsense. If there wasn't enough demand, prices would fall back. There's exactly enough demand to sustain today's prices, but that's coming from two sources, first time buyers and landlords.
Actually there seems to be a bit more demand in the lower end sectors, which sustains the view that first time buyers are wanting to get into the market.
why are prices for flats not increasing - i believe they've probably fallen YoY.0 -
RenovationMan wrote: »Isnt that on a different thread? This one is about 0.5% increase in the average house asking price.
Thought we were discussing the potential impact of "struggling" borrowers on the market?0 -
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RenovationMan wrote: »Well, to further the discussion... What do you think the impact of 'struggling' borrowers will be on the market?
I don't think I can add much more to further this as I've already resorted to making nob jokes.0 -
So to summarise this thread.
- House prices went up a bit
- Everyone disagreed as to why
- Graham confused everyone again
- People were beastly to him
- Julie insulted my penis (and has not apologised)
0
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