ONS: House prices rise 2.3%

IveSeenTheLight

Mallotum_X wrote: »

Didnt happen when Irish immigration happened, didnt happen with the west indians, didnt happen with the indian and pakistani populations.

Some do, but clearly a significant number stay for ever.

I wonder if the Irish / British are so close geographically and culturally that it doesn;t make much difference to their location.

The others West Indians, indian, pakastani - a lot would depend on what they consider their retirement lifestyle would be.

I know a number of colleagues from India who have openly stated they are here for the income and will return to India in the future.
Whilst the standard of living in many areas in India is still poor, the country has improved dramatically since the 50's and 60's.

RenovationMan

CLAPTON wrote: »

The Norwegian Soveign fund results from their large gas amd oil resources in a country with a small population so it's not funded out of this generations productive resources; sadly not an option for us as our little bonanza ws spent paying for the unemployed in the 80s and 90s.

That doesn't mean we always need a rising population; it simply means we have to distribute the wealth/income we have to support our population and of course people working longer.

As well as our oil revenues, we could also have put the proceeds of the sales of all those public companies in the 80s into the sovereign fund. Such a wasted opportunity.

James_N

purch wrote: »

That's less than CPI :eek:

Not enormous rises but a small increase / bumping along the bottom / small fall depending on location.

But not the wish-fulfillment halving of prices predicted week-on-week by the HPC "community" of long-term renters either. And it never will be given demand v supply in this country.

chewmylegoff

HAMISH_MCTAVISH wrote: »

Is it materially less than CPI? Given CPI is 2.4%.

no, but then if wage inflation, HPI and CPI are all are about 2% then house prices are not actually changing in real terms.

IveSeenTheLight

chewmylegoff wrote: »

no, but then if wage inflation, HPI and CPI are all are about 2% then house prices are not actually changing in real terms.

There was a thread discussing an article predicting real term stagnation this year, recovery nominally by 2017 and in real terms by 2024.
Interesting.

the_flying_pig

IveSeenTheLight wrote: »

There was a thread discussing an article predicting real term stagnation this year, recovery nominally by 2017 and in real terms by 2024.
Interesting.

Please, please don't start emulating hamish's single word 'interesting' sentences when he's posting something HPI-friendly.

HAMISH_MCTAVISH

the_flying_pig wrote: »

'interesting'

Indeed....

IveSeenTheLight

the_flying_pig wrote: »

Please, please don't start emulating hamish's single word 'interesting' sentences when he's posting something HPI-friendly.

Did you miss the sentence where I responded to chewmylegoff making and interesting point about 'real term' stagnation and how a recent article had indeed predicted that before returning to 2007 nominal prices in 2017 and 'real term' return to peak by 2024?

Do you just skim posts, not reading the full content and just reading the parts that you want?

Interesting..........;)

RenovationMan

nollag2006

HAMISH_MCTAVISH wrote: »

The Office for National Statistics has released its house price index for May 2012 which shows that in the last 12 months the average price of a UK house has increased by 2.3 per cent.

This follows the pattern of the last 12 months in continuing the trend of relatively stable house prices in the UK. On a seasonally adjusted basis, house prices were unchanged between April and May.

There are variations between the four countries that make up the UK. England and Wales have seen rises of 2.6 and 3.5 per cent respectively, whilst Scotland has seen a fall in average house prices of one per cent in Scotland and 10.3 per cent in Northern Ireland.

Within England there are also regional variations within the seven regions with five posting rises and two showing falls. Unsurprisingly, London showed the highest increases with prices rising by 7.2 per cent. There were also increases of 3.4 per cent in the south-east and 2.3 per cent in the East Midlands. The largest decreases were in the north-west at 1.6 per cent and 1.2 per cent in the West Midlands.

http://www.myfinances.co.uk/mortgages/2012/07/17/ons-uk-house-price-index-shows-2-3-rise-in-last-12-months

:beer:

Great to see that whole swathes of the country are now starting to experience the house price growth London has seen over the past few years.