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Debate House Prices
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Nationwide Dec +1% YoY, -0.3% MoM
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.bbc.co.uk/news/business-16356568The average home rose in value by 1% in 2011, but fell by 0.2% in December compared with the previous month.
The economic climate was likely to lead to a similar situation for the housing market in 2012, it said.
"The 1% rise in house prices recorded over the past 12 months could hardly be described as a strong performance, but against a backdrop of anaemic economic growth and a deteriorating labour market, UK house prices were surprisingly resilient in 2011," said Nationwide's chief economist Robert Gardner.
The average home is worth £163,822, according to the Nationwide, which calculates the figures using its own mortgage data.
Arguably, the best measure of current trends in house prices is to compare the average price of the past three months with the average price of the previous three months.
On this measure, Nationwide's data shows a rise of 0.4% in the three months to the end of December.
Northern Ireland has seen an 8.7% fall in prices in 2011 and London has seen a 5.5% rise over the year, the Nationwide's figures show.
Prices 1% higher at the end of the year than at the start.
Probably NOT the outcome any of the crashaholics were expecting a year ago.
:beer:
“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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2012 will be much the same in my opinion. it's entirely conceivable that HPI will stay somewhere between -2% and +2%.
By my calculations this makes it a good time to buy.0 -
By my calculations this makes it a good time to buy.
With prices stagnating and rent more expensive than mortgage interest in 95% of the UK, buying is certainly cheaper than renting for most.“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 -
What a great way to finish 2011. A rise is a rise after all.
Certainly no sign of a crash. Great time to buy.
I bet any crashers are crying in their Christmas gruel. :rotfl:
From the BBC website.
House price stagnation to continue, says Nationwide
Nationwide has previously expressed surprise at the resilience of prices in 2011
Continue reading the main story
UK house prices remained relatively unchanged in 2011 and more of the same is expected, the Nationwide has said.We love Sarah O Grady0 -
What a great way to finish 2011. A rise is a rise after all.
It certainly is.
No doubt some of the bears will be along shortly to dribble on about "real terms falls" or "Seasonal adjustment"..... But of course that doesn't make the slightest bit of difference in reality.
The price of a house compared to chocolate or bananas is fairly meaningless, if the only "falls" you get are in "real terms" then you may as well buy and stop enriching your landlord.
And the Year on Year rise is the same with or without seasonal adjustment.“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 -
What a great way to finish 2011. A rise is a rise after all.
Certainly no sign of a crash. Great time to buy.
I bet any crashers are crying in their Christmas gruel. :rotfl:
From the BBC website.
House price stagnation to continue, says Nationwide Nationwide has previously expressed surprise at the resilience of prices in 2011
Continue reading the main story
UK house prices remained relatively unchanged in 2011 and more of the same is expected, the Nationwide has said.
Sibley is not going to tell you Bless him:), but house prices actually fell by £2000 last month using NW data.
NW have also been the most Bullish of all the indcies as well has having very little sample now and as well as most of their customers from the South east.0 -
I thought that 2011 was meant to end up about 10% down? At least thats what we were lead to believe this time last year!
Still, there is always 2012
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homelessskilledworker wrote: »NW have also been the most Bullish of all the indcies as well has having very little sample now and as well as most of their customers from the South east.
And Halifax is the pessimistic index with a bias towards the North of England, yet even it's only down 1% year on year.
Just admit it.... The crash is over, and has been for nearly 3 years now.:D“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 -
I thought that 2011 was meant to end up about 10% down? At least thats what we were lead to believe this time last year!
Still, there is always 2012
Well, to be fair, Jonathan Davis was only 11% out with his prediction this year. Which has to be one of his closest results ever!!!: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 -
2012 will be much the same in my opinion. it's entirely conceivable that HPI will stay somewhere between -2% and +2%.
By my calculations this makes it a good time to buy.
This is what I was thinking and so I predicted +2% on the 2012 house price prediction thread. Dunno if it will be right, I don't follow house prices so much, but it seemed a decent enough guess.0 -
HAMISH_MCTAVISH wrote: »Well, to be fair, Jonathan Davis was only 11% out with his prediction this year. Which has to be one of his closest results ever!!!:rotfl:
Jonathon Davis, the human equivalent of a stopped clock. Keep predicting something and eventually you'll be proved right, over a long enough timescale.
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