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Debate House Prices
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Halifax Aug +0.3%
HAMISH_MCTAVISH
Posts: 28,592 Forumite
House prices have gone up for the third month in a row, according to the Halifax mortgage lender.
Its latest monthly survey says they rose in July by 0.3%, leaving them just 2.6% lower than a year ago at £163,981.
The lender explained that over the last three months prices had been 0.5% higher than in the previous three.
That was the first such increase in 14 months, indicating that prices were stabilising, according to its housing economist Martin Ellis.
"Overall, there has been little change in either the level of house sales or the number of properties on the market for sale since late 2010," he said.
"These steady market conditions have helped to stabilise house prices in 2011 following last year's modest decline.
"This pattern is expected to continue over the rest of the year with little genuine direction in either house prices or sales," Mr Ellis added.
Its latest monthly survey says they rose in July by 0.3%, leaving them just 2.6% lower than a year ago at £163,981.
The lender explained that over the last three months prices had been 0.5% higher than in the previous three.
That was the first such increase in 14 months, indicating that prices were stabilising, according to its housing economist Martin Ellis.
"Overall, there has been little change in either the level of house sales or the number of properties on the market for sale since late 2010," he said.
"These steady market conditions have helped to stabilise house prices in 2011 following last year's modest decline.
"This pattern is expected to continue over the rest of the year with little genuine direction in either house prices or sales," Mr Ellis added.
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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And what's the bet Brit won't be updating his signature, now that all three indices are positive...
“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 -
HAMISH_MCTAVISH wrote: »And what's the bet Brit won't be updating his signature, now that all three indices are positive...
....for the month.
I think the stock markets are telling us in their rather direct way what they think of current risky asset prices. As ever, time will tell.0 -
Well done Hamish & Co. Enjoy it.
But bigger fish being fried right now, so 0.3% up or down on an index said bulls have just been describing as flawed, aint all that interesting!HAMISH_MCTAVISH wrote: »There's something wrong with Halifax at the moment, and even they admit it, which is why they're revising their methodology.0 -
I have no confidence in this index. I suspect the average person will treat this data with disdain. DYOR is my advice.0
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I said on the other thread that depending on the day the data is released depends on what it is.
If it is a negative it is released before the BOE rate setting meeting.
if it is a positive it is released after the BOE rate setting meeting.
lets watch next month`s and see what happens.0 -
Housing continues to prove one of the safest assets out there. Meanwhile, traditional pensions continue to plunge.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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turnbull2000 wrote: »housing continues to prove one of the safest assets out there.
lol!!!!!!!!!!!!!!!!0 -
lol!!!!!!!!!!!!!!!!
No, that's an accurate assertion.
Stock markets fell by 40% in 2008, housing even on the most pessimistic measure fell by less than half that amount in the same crisis.
And housing continued to pay a 5%-ish yield (actual or imputed) throughout, whilst most companies stopped paying dividends.
If the goal is wealth preservation, housing won't ever fall to zero, and provides an essential, some would say invaluable, purpose in the meantime. Whereas "blue chip" equities can and do go the way of Polly Peck, Enron and Marconi.....“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 -
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Ramping figures of +0.2% & +0.3% recently, despite lambasting people in the past for similar minus figures. Hmmm.
& by the way, putting it in bold doesn't make it more emphatic.
Double standards...It's getting harder & harder to keep the government in the manner to which they have become accustomed.0
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