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Debate House Prices
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Halifax -1.2% August
Comments
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Commenting, Martin Ellis, housing economist, said:
"The underlying trend, as measured by the latest three months compared with the preceding three months, showed a modest improvement in house prices for the second consecutive month in August.
Prices in the three months to August were 1.0% higher than in the previous three months.
"As we have pointed out before, the current low volume of sales tends to make house prices volatile from month to month.
The 1.2% fall in August follows three months when prices have risen.
As a result, the more reliable quarterly change, which smoothes out some of the monthly volatility, shows a rise in prices of 1.0%.
"A recent decline in average mortgage rates has further boosted home affordability for those able to raise a deposit to make a new purchase. Low interest rates are likely to continue to support the market whilst increased uncertainty about the economic outlook and pressures on householders' finances constrain demand. Overall, we expect broad stability in both prices and activity over the coming months."“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 -
Affordability is even better than ever and prices continue to stagnate.
Anyone who just stuck their head up their !!!! when tougher lending criteria came in instead of saving a deposit must be kicking themselves.0 -
Hamish, you missed a bit?The lender, now part of Lloyds Banking Group, said that the average home was 2.6% lower in value than a year ago at an average of £161,743.
Spose that's stagnation too though?0 -
Graham_Devon wrote: »Spose that's stagnation too though?
No, that seems about right. Halifax has a northern bias, so -2.6% YoY is to be expected.
Nationwide is -0.4% YoY.
But don't forget RICS and Hometrack both show that for most people in most areas, prices are neither rising or falling but are stable.
Around 8% of postcodes seeing slight rises, 28% seeing slight falls, and 64% seeing stable prices.“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 -
Basically
"annual figures down, monthly figures down but we had 2 months with positive figures so its all still positive and it should remain stable. House prices still higher than 1929." Wake me when house prices are no longer in the 160 - 165k bracket. Then there will be something to discuss.0 -
HAMISH_MCTAVISH wrote: »No, that seems about right. Halifax has a northern bias, so -2.6% YoY is to be expected.
Nationwide is -0.4% YoY.
But don't forget RICS and Hometrack both show that for most people in most areas, prices are neither rising or falling but are stable.
RICS and Hometrak the new preference?
The Northern Bias thing back again? Haven't seen that one since the last falls
Wonder how this winter is going to go? This month, afterall, was pretty much peak buying season was it not?0 -
Mwwahhahahahahahahah
yeah baby, second leg here we come
LOL, as many "second legs" as you lot have called so far, you must all resemble an octopus by now!!! :rotfl:“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 -
Graham_Devon wrote: »RICS and Hometrak the new preference?
The Northern Bias thing back again? Haven't seen that one since the last falls
Very good.
I'll leave you with your previously preferred measure of house prices from last time prices started rising.Prices in the three months to August were 1.0% higher than in the previous three months.“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: »
Very good.
I'll leave you with your previously preferred measure of house prices from last time prices started rising.
Thankyou, and I do believe it's a better measure, just having fun with the monthly figures. You would be if they had a + sign in front of them!
I might even get the crash chart out in a min.0
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