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Debate House Prices
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Nationwide: House prices still stagnating (0.3% rise in May)
DpchMd
Posts: 540 Forumite
"Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin
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Crash Part 2 Cancelled for yet another month.0 -
Ha, even Nationwide are now suggesting prices are being propped up!
Seems theres yet more pressure on the government to sort out building. How long can they ignore all this mounting pressure?0 -
The lender said prices rose by 0.3% in May, to £166,022, but this had still left them 0.7% lower than a year ago.
The Nationwide said demand for homes was low due to high unemployment.
But prices were being propped up by the current dearth of new homes being built.
"Demand for homes remains subdued on the back of weak labour market conditions, but the lack of homes coming onto the market is providing support for prices," said Robert Gardner, the Nationwide's chief economist.
"This is in part a reflection of the low rate of building in recent years which has failed to keep pace with household formation."
Earlier this month, government figures revealed that the number of new homes started by home builders in England fell again in the first three months of the year.
The Department for Communities and Local Government (DCLG) reported that public and private house builders started building just 24,100 new homes in the quarter.
That was an 11% drop from the last three months of 2011, and a 15% drop from the first quarter of last year
http://www.bbc.co.uk/news/business-18268655“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 -
Graham_Devon wrote: »Ha, even Nationwide are now suggesting prices are being propped up!
Yes they do.
They say prices are being "propped up" by a housing shortage.
“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 -
HAMISH_MCTAVISH wrote: »Yes they do.
They say prices are being "propped up" by a housing shortage.
It's like he falls for it every time..."Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin0 -
Zoople recons my house is up 3% in the last year, but my dads in a nearby area, ie, next county, is down 3%. Location Location LocationPlan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
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Graham_Devon wrote: »What have I fallen for?!
Nationwide said the market is being propped up. I've fallen for it? What is "it"?
You saw the word 'prop' and then had an orgasm. But you seemingly failed to understand the point."Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin0 -
“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 -
Heck, and Nationwide have increased their market share significantly too:
http://www.bbc.co.uk/news/business-181715910
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