Halifax +1.2% MoM, -1.8% YoY

zappahey

http://www.bbc.co.uk/news/business-15617271

joguest

I'm guided by McTavish, who thinks the QoQ is more reliable - and that's still negative.

Rinoa

zappahey wrote: »

http://www.bbc.co.uk/news/business-15617271

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Pimperne1

:beer::j:beer:

Rinoa

joguest wrote: »

I'm guided by McTavish, who thinks the QoQ is more reliable - and that's still negative.

I seem to remember you saying that recent increased approvals were a sign of prices falling.

joguest

Rinoa wrote: »

I seem to remember you saying that recent increased approvals were a sign of prices falling.

No, I didn't say that, but you're not one to let the facts get in the way of a good soundbite. I did say that rising volumes aren't indicative of rising prices as prices can fall with increasing volumes.

Besides, it's a bit early to be calling any definite trend when prices and volumes are only showing marginal movements either way.

Graham_Devon

Wonder if this index will still have issues!

Rather weird swing anyway.

Statistics are the statistics, regardless of how disappointing they may be.

Rinoa

http://www.lloydsbankinggroup.com/media/pdfs/2011/HousePriceIndexOctober2011.pdf

Some signs of a slight pick-up in housing activity. Property sales have stayed within a narrow range around 70,000 per month so far this year, according to HMRC figures. The industry-wide number of mortgages approved to finance house purchase - a leading indicator of completed house sales – has, however, nudged higher in recent months. There was an 8% rise between Quarter 2 (April-June) and Quarter 3 (July-September), on a seasonally adjusted basis, despite the first monthly fall since April in September. (Source: Bank of England).

Halifax data backs up Nationwides recent rise. Although to be fair, Halifax has a reputation for volatility.

Generali

From the equine's mouth:

http://www.lloydsbankinggroup.com/media/pdfs/2011/HousePriceIndexOctober2011.pdf

House prices have been down YoY (year-on-year) for the last 12 months now. The market seems to be very slowly drifting lower in nominal terms. The HBOS preferred measure of house prices (3 months average vs last 3 months average) has gone negative for the first time in 5 months.

HBOS sees some hope in an increase of 8% in sales over the last quarter (seasonally adjusted) but to my mind that's clutching at straws.

Looking at the data it seems likely that YoY prices will be negative next month, up for the December measure and then falling again in January. That is a result of the volatility in the figures.

Pimperne1

A quote from HPC by someone who only joined the site in Sep 11. Imagine how he would feel if he had been waiting since 2002 for the crash and had STRd on the basis of it.

WHAT THE f***!!!

I just don't get it, people around me are losing their jobs, cannot get credit, overtime gone, taxes going up, there is nothing out there that could possibly be making the property market stronger, yet it goes up a stonking 1.2%.

I have had the patience of a saint these last few years, but now I am just getting sick of it all .

What the heck, here's another:

..... hell, i'm going to start viewing warden control and over 60 only property. Cus that's when i'll be buying by the looks

Two of the old timers on there have come out with quotes "Brilliant LOL" and "Comedy Gold!".


Luvvin' it (I think Halifax have now sorted out the glitch with their data collection).

DervProf

I'm wondering where this sizeable increase came from, unless it's just a rebound from the previous falls. Maybe it's just house prices keeping up with other costs, such as food, fuel etc. The only thing not keeping up is wages, so it seems.

Something's got to give.