Nationwide UP 0.6% MoM & UP 0.9% YoY

ruggedtoast

CRASH_BANG_WALLOP wrote: »

House price rise is temporary, says Nationwide






so there it is dudes, stamp duty

It says sales will fall back, it doesn't say prices will.

With the removal this month of working tax credits by Osborne (a multi million pound trust fund kid who has never had to worry about paying a bill in his life), this is just another bitter dollop of dry dingo dung for hard pressed, hard working first time buyer families to have to contend with.

Generali

Away from all the bull and bear crap this is probably the best outcome for the economy. House prices in many parts of the UK are expensive and if they rise more slowly than inflation they are becoming cheaper.

However, rapidly falling house prices kill the banks and trap people in negative equity which is a big problem if you want to move or are repossessed.

JonnyBravo

Yep and a bit more anecdotal for the (improving?) picture.
Our company is giving an average of 3% this year in payrises.
Sure, it's under inflation but it's a been an increasing trend for 3 years now.... slow but sure it seems.

wotsthat

DervProf wrote: »

Ideally we want low, or no HPI for a few more years, a steady increase in property transactions, and continued controlled lending by the banks. Of course, there'll be plenty calling for a "free-for-all", but that's just greed and impatience taking over. I still don't "get" the idea that lowering deposit requirements and keeping interest rates low will have a happy ending.

You missed world peace.

CRASH_BANG_WALLOP

ruggedtoast wrote: »

It says sales will fall back, it doesn't say prices will.

.

Which is why i quoted sales

The number of properties sold in January, at 64,000, was 23% up on a year earlier, according to figures from HM Revenue & Customs

Graham_Devon

IveSeenTheLight wrote: »

What will be more interesting is if Brit1234 updates their signature :rotfl:

Well I think I have given up with the thought of any larger falls.

There are things that will create larger falls. Things that are entirely normal, such as interest rates, and removing props such as long term SMI etc.

But none of them look set to happen.

I suppose I have to now admit I was wrong. But I seriously didn't think the government and countries themselves would go to quite such lengths to plaster over everything. Just look at the EU and Greece....it's a constant policy and pretend and extend. Trillions of extra cash seemingly pop out of nowhere.

I do think however we are now set for a period of extreme hardship for some. And for others? Well just increasing prices and static living standards for years. It seems as long as house prices go up in value, oil, food etc can increase at a higher rate and no one will take enough notice to create a stink about it.

The banks, and all those customers who would have caused issues for them have been well and truly protected and I think it's time for myself to stop the pretence that it can't carry on. It seems it can and will.

Major shock to the system later on down the line, especially when interest rates do go up etc. We certainly can't stay where we are. But that may be a good decade away.

I believe we have well and truly shafted our kids and their kids though, through this extend and pretend policy that the western world seems hell bent on.

Even people like Merkel can raise hundreds of billions and STILL suggest it might not work. Greek MP's know things are not going to work, but it goes ahead anyway. Not sure what to call this game being played. But certainly what should have happened, didn't.

I fear we are now building price rises of everything on absolute rock bottom emergency foundations, and seemingly, not taking a blind bit of notice.

chewmylegoff

JonnyBravo wrote: »

Yep and a bit more anecdotal for the (improving?) picture.
Our company is giving an average of 3% this year in payrises.
Sure, it's under inflation but it's a been an increasing trend for 3 years now.... slow but sure it seems.

we are getting 3.5% after 2 years of nothing.

i think the picture is generally improving, but given the position of the banks and the economic and regulatory environment around the banking industry, mortgage lending is unlikely to suddenly go mental any time soon.

personally, i hope things continue to creep upwards slowly, rather than either fall, or go stratospheric. i think that would be the best outcome for the economy as a whole, but also for me. if it goes a bit mental i will probably be forced into buying, which i would rather not for at least 2-3 more years.

wotsthat

Generali wrote: »

Away from all the bull and bear crap this is probably the best outcome for the economy. House prices in many parts of the UK are expensive and if they rise more slowly than inflation they are becoming cheaper.

However, rapidly falling house prices kill the banks and trap people in negative equity which is a big problem if you want to move or are repossessed.

I think you're right. Most people work on nominal values so if house prices recover most won't realise or care that they are really worth less.

The problem as I see it is that we're in a phoney war. We'll continue to see sub inflationary increases in house values but this can't continue as there's a shortgage of housing and low confidence and restricted mortgage conditions means demand is being artificially removed.

Confidence looks like it's improving and so is lending so eventually the demand that's been artificially removed will return putting upwards pressure on prices.

wotsthat

Graham_Devon wrote: »

I suppose I have to now admit I was wrong. But I seriously didn't think the government and countries themselves would go to quite such lengths to plaster over everything. Just look at the EU and Greece....it's a constant policy and pretend and extend. Trillions of extra cash seemingly pop out of nowhere.

Governments doing all they can to try and maintain economic stability. It seems crazy - you'd think they learnt nothing from the depression of the thirties that led to a wonderful period of world peace and prosperity.

noodle_doodle

It's a house price stagnation, but that doesn't make for a snappy web site title

inflation will chomp away at the real prices of houses, and quickly too - anyone who believes inflation is just 4% when you look at how petrol prices, food prices, childcare etc are soaring is on crack. I was in the supermarket the other day, over £2 for a single packet of mcvities chocolate digestives! I ask you!

The only problem is our wages aren't shrieking up with inflation either