House prices rising in uk

Thermidor

House prices rising in UK.......up by £2K in Ocober.

http://www.dailymail.co.uk/news/article-2058860/House-prices-soar-nearly-2k-October-property-market-recovers.html

poppy10_2

Save it for the Debate board.

brit1234

Its a one off blip due to low transactions. For some reason Halifax figures tend to go wobbly and swing back massively the next month (far more than Nationwide).

The trend with house prices is still down and I can not see any decent reason with the dire economy that prices whilst still massively overvalued they will keep rising.

My prediction is next month there will be a massive drop in house prices. That too won't mean house prices will fall massively the next month but over the 6 month period it will average out to show continuing falls.

Does anyone know the seasonal adjustment for these figures this month?

ramagates

do you think will it go down within london as well?

Gromitt

According to the landregistry, on average, prices are still coming down.

Apart from London, where they are still going up (2.7% in the last month)

tonycottee

brit1234 wrote: »

My prediction is next month there will be a massive drop in house prices.

I notice you post quite often on the subject. Out of interest do you have any qualifications or experience in the housing market/economics?

Turnbull2000

tonycottee wrote: »

I notice you post quite often on the subject. Out of interest do you have any qualifications or experience in the housing market/economics?

He's been predicting 'heavy falls just around the corner' for a few years now. I predict he'll keep making these predictions for many more years, despite said falls never materialising.

HAMISH_MCTAVISH

Turnbull2000 wrote: »

He's been predicting 'heavy falls just around the corner' for a few years now.

Yep.

"50% off by Xmas 2009" was a classic. :rotfl:

Anyway, back to topic.

The Nationwide index is now positive Year on Year. The Halifax Year on Year decline has halved in the last couple of months and is heading the same way. Only a matter of time til Land Registry catches up and goes positive.

There's now a reasonable prospect that this year will end up with prices flat or slightly positive on average. Similar to last year, and after the big gains of 2009.

In the meantime of course, rents have soared to new record highs and other than the usual couple of months of decline mid winter, there's no sign of this slowing any time soon.

And mortgage holders continue to take advantage of record low interest rates, saving themselves a fortune and cutting years off the mortgage.

The financial losses for renters (versus buying) since 2009 are now getting very large indeed..... On average of course.

And eve those who bought at absolute peak in 2007 have now broken even or gone positive versus renting, on average.

It very much looks like the last few years and the next few as well will turn out to be one of the best times in history to buy a house with a mortgage, and one of the worst to rent.

badrobot76

House prices still out if context with economic reality and so are these newspapers!

breadlinebetty

ramagates wrote: »

do you think will it go down within london as well?

London and the surrounding areas always hold their prices really.

Thermidor

HAMISH_MCTAVISH wrote: »

Yep.

"50% off by Xmas 2009" was a classic. :rotfl:

Anyway, back to topic.

The Nationwide index is now positive Year on Year. The Halifax Year on Year decline has halved in the last couple of months and is heading the same way. Only a matter of time til Land Registry catches up and goes positive.

There's now a reasonable prospect that this year will end up with prices flat or slightly positive on average. Similar to last year, and after the big gains of 2009.

In the meantime of course, rents have soared to new record highs and other than the usual couple of months of decline mid winter, there's no sign of this slowing any time soon.

And mortgage holders continue to take advantage of record low interest rates, saving themselves a fortune and cutting years off the mortgage.

The financial losses for renters (versus buying) since 2009 are now getting very large indeed..... On average of course.

And eve those who bought at absolute peak in 2007 have now broken even or gone positive versus renting, on average.

It very much looks like the last few years and the next few as well will turn out to be one of the best times in history to buy a house with a mortgage, and one of the worst to rent.

Rents have REALLY soared! And they seem to be rising all the time!