House prices up 1 percent in June - Halifax

joe_blotts

House prices rose unexpectedly in June, though the housing market is likely to hold broadly steady in the remainder of 2012, mortgage lender Halifax said on Thursday.

Halifax said house prices rose by 1 percent in June,
confounding economists' forecasts for a 0.2 percent decline. House prices in May rose by 0.4 percent, a downward revision from an originally reported 0.5 percent.


In the three months to June compared with a year ago, prices
fell by 0.5 percent, beating forecasts for a 0.8 percent decline.


Halifax economist Martin Ellis said that low levels of mortgage
payments relative to income and recent increases in employment may have helped support house prices so far this year.


"We expect little change in prices and sales over the remainder
of the year provided that the UK's economic outlook does not deteriorate significantly," he said.

Time for a celebratory 'Homeowners dinner party'?

ruggedtoast

They are saddened by this news over on hpc.co.uk.

They are crying.

Turnbull2000

Wow. Another £50bn of printed money expected today too.

joe_blotts

Turnbull2000 wrote: »

Wow. Another £50bn of printed money expected today too.

They're also talking about a rate cut to .25%. That will please the mortgage holders(and the banks) but not the savers or the pensioners.

James_N

ruggedtoast wrote: »

They are saddened by this news over on hpc.co.uk.

They are crying.

I didn't know about hpc.co.uk so took a look and read all sorts of odd ideas and thoughts. The word "delusional" is a favourite, but it's clear to me that the posters passing judgment on a 150k house and saying it's only worth 30k, or who wait to buy for 6 years (and are still waiting) - these are the ones with delusion.
I saw all sorts of odd judgments about my own area and selected oddities to prop up their point of view (there are always odd sellers and dodgy estate agent practices, always have been.).
While stagnation or a slow slide is a reasonable set of ideas for some area's prices, the idea that prices will somehow drop by well over half is frankly loony.

Turnbull2000

joe_blotts wrote: »

They're also talking about a rate cut to .25%. That will please the mortgage holders(and the banks) but not the savers or the pensioners.

So mortgage borrowers (and house prices) boosted even further, but the destruction of private pensions continues unabated.

nollag2006

Turnbull2000 wrote: »

So mortgage borrowers (and house prices) boosted even further, but the destruction of private pensions continues unabated.

This is why even the Guardeun is advocating BTL instead of pension.

With all the scandals in the banking sector recently and the gold bubble bursting, I am far happier keeping my assets invested in London's bricks and mortar than anything else.

chucknorris

nollag2006 wrote: »

This is why even the Guardeun is advocating BTL instead of pension.

With all the scandals in the banking sector recently and the gold bubble bursting, I am far happier keeping my assets invested in London's bricks and mortar than anything else.

I read an Evening Standard article way back in the late 90’s (I forget exactly when) about an IFA who was then advising clients to consider BTL instead of a pension. I remember thinking at the time that he was probably right (if his clients are up to letting out property, it isn't for everyone) but I was surprised that he was saying it (as opposed to recommending more conventional pension investments).

moneyinmypocket

Fantastic news time for another dinner party me thinks

nollag2006

chucknorris wrote: »

...if his clients are up to letting out property, it isn't for everyone...

This is true, but to be honest my own experience of BTL has been relatively painless. I have good tenants and the flats are well maintained, so its been a lot less stressful that monitoring a stock market portfolio on a day by day basis.

Plus the income yields are much better and reliable than almost any stock, and roll in on a monthly (rather than annual) basis

mr_fishbulb

James_N wrote: »

I didn't know about hpc.co.uk so took a look and read all sorts of odd ideas and thoughts. The word "delusional" is a favourite, but it's clear to me that the posters passing judgment on a 150k house and saying it's only worth 30k, or who wait to buy for 6 years (and are still waiting) - these are the ones with delusion.
I saw all sorts of odd judgments about my own area and selected oddities to prop up their point of view (there are always odd sellers and dodgy estate agent practices, always have been.).
While stagnation or a slow slide is a reasonable set of ideas for some area's prices, the idea that prices will somehow drop by well over half is frankly loony.

It does have the reputation of being a bit nutty over there.

The strange thing is the "bulls" on this forum are constantly referencing it, but the "bears" don't seem to give a crap about it.

It always gets mentioned when there is a thread about house prices going up. The process seems to be:

1 - Link to positive HPI news gets posted here.
2 - Lots of :T / :beer: / :j emoticons get posted.
3 - Someone mentions hpc and uses this - :rotfl:
4 - A brand new user signs up with a name like ILoveHouses and posts on the board which would have previously been invisible to them (as it's hidden unless you are a MSE member).
5 - People try and guess who they are.
6 - Someone calls for Brit1234 to update their signature.
7 - Thread descends into name calling.