Nationwide +0.1% MoM -0.3% YoY

Rinoa

Up 0.1% in September and just -0.3% YoY change.

Looks as though those predicting stagnation were correct.

http://www.nationwide.co.uk/hpi/historical/Sep_2011.pdf

Graham_Devon

Wonder if this one will get reported by the Express

Probably get a load of egg all over my face now!

angrypirate

So the 3 summer months have seen complete stagnation. I wonder how things will develop over these coming 6, traditionally quieter autumn and winter months with the recession setting in.

Mallotum_X

The BBC reporting of it is very bearish. Stagnant over the summer boom months may well see some small drops over winter.

Personally I think the governement and banks will continue down the current path to try and hold things as steady as possible with a general small downward trend. No big crashes, but a slow deflation, probably seen as the safest option for the country as a whole.

Graham_Devon

The nationwide report itself is bearish.

“Providing the UK recovery gradually gathers momentum in
the months ahead, we continue to expect house prices to
move sideways or to drift modestly lower over the remainder
of 2011 and into 2012. Nevertheless, with demand and
supply in the housing market finely balanced, recent
financial market gyrations and the more challenging global
economic backdrop have increased the downside risks in the
period ahead.”

Would take some doing for the recovery to "gather momentum" at the moment.

Mallotum_X

Providing the UK recovery gradually gathers momentum in
the months ahead, we continue to expect house prices to
move sideways or to drift modestly lower

Interesting view point. Even with a recovery NW expects falls or stagnation. So if the economy doesnt recover any time soon....?

Pimperne1

If someone had said this time last year, house prices will be down less than 0.5% by this time next year I would have quite happily have taken that (even though I know its a drop in "real" prices). The same applies for next year, another 0.5% drop would be fine (in fact up to 5% would be okay too but I think that would be quite unlikely).

Having said all of that I don't have much confidence in figures presented by a provider who has such a small share of the market nor in figures which might include quite a lot of forced sales.

Dan:_4

This is a joke. Can someone please tell me why house prices are the same as this time last year? According to all the advice dished out on this forum house prices were guranteed to crash - well I have been waiting over 3 years now and still nothing - thanks a bunch guys - you have cost me ££££'s

HAMISH_MCTAVISH

angrypirate wrote: »

the 3 summer months.

Mallotum_X wrote: »

the summer boom months.

Nationwide is seasonally adjusted.

So a + figure refers to an amount in addition to the normally expected "summer boom".

Blacklight

Dan: wrote: »

This is a joke. Can someone please tell me why house prices are the same as this time last year? According to all the advice dished out on this forum house prices were guranteed to crash - well I have been waiting over 3 years now and still nothing - thanks a bunch guys - you have cost me ££££'s

Not all the advice.

Thrugelmir

Mallotum_X wrote: »

So if the economy doesnt recover any time soon....?

Anybody suggesting it will ? ........