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Debate House Prices
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House Prices Rising
Comments
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I hardly look on these boards anymore.
Think its pretty obvious things are stagnant until banks free up lending then its anyones guess how far they will rise.
Glad my old friends at HPC are twisted up. I'll go and look now....haha
Cheap easy credit is still with us compared to how things will be down the line.
If they make it even easier and cheaper then that would be the end of things.House Prices 2007/08 £200K, Silver £5oz
Ratio 40,000 oz to 1 house.
2012 Fallen to £160K, Silver risen to £20 per ounce. So house/silver ratio fallen to 8000.
Prediction for the end of the decade, will keep falling at current rate until 1000 oz or less valued same as average house.0 -
Treadstone2.0 wrote: »If they make it even easier and cheaper then that would be the end of things.
0 -
“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: »And it is.....
They use data from Acadametrics, Nationwide, Halifax, ONS and Rightmove to create a blended index.
Don't hate the data just because it doesn't agree with what you wish had happened....;)
Sorry....they use rightmove?
They average asking prices against sold prices? Explains the increase then really, doesn't it. Hell, if it's something for you to hold on to, it's all good in my book.0 -
HAMISH_MCTAVISH wrote: »An average of the major UK house price indices shows that prices have risen strongly by 4.7% since the start of this year.
http://blogs.independent.co.uk/2012/08/02/average-price-of-a-uk-home-is-now-205309/
Excellent news.
:beer:
Isn't that what we'd expect most years given that house prices tend to rise (the badly named Spring Bounce) from Jan - June and then decline from July - Dec?
It sounds to me rather like saying that temperatures have been significantly higher on average this summer than in the winter. If current trends continue the Pacific Ocean will have entirely boiled away by teatime in September 2015.0 -
Isn't that what we'd expect most years.
Yes, of course.
But you wouldn't expect it if prices were crashing. Which of course they're not.
Not that you'd know that from reading this board lately, where the slightest few tenths of a percent of monthly noise heralds the next big leg down. Apparently.“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, of course.
But you wouldn't expect it if prices were crashing. Which of course they're not.
Not that you'd know that from reading this board lately, where the slightest few tenths of a percent of monthly noise heralds the next big leg down. Apparently.
The problem here Hamish is that it's overdone.
For example....
Land registry is up 0.8% since 11/11
Nationwide is up 0.1% since 11/11
Halifax is up 0.4% since 11/11
The ONS data is up 10% since 11/11....HOWEVER, this data changed in February, and jumped 18k in a month. (Jan average 206k, Feb average 224k).
Rightmove is up 4.2% since 11/11.
So, looking at the 3 constant, main, sold price averages, all together, house prices are up 0.43% since 11/11
Add in an index which has changed metrics, and jumped 18k in the month and did so out of nowhere, and ad in rightmove asking prices (not the price, just the initial asking price), and you end up at a bumper 4.7%.
Add to the fact were measuring 7 months for some bizzare reason and....
...I therefore conclude that this is probably some of the worst, most flawed data you have yet provided on this forum.0 -
HAMISH_MCTAVISH wrote: »And it is.....
They use data from Acadametrics, Nationwide, Halifax, ONS and Rightmove to create a blended index.
Don't hate the data just because it doesn't agree with what you wish had happened....;)
I get so mixed up with all these different indices, someone remind me, these are all based on sold prices right?0 -
EchoLocation wrote: »I get so mixed up with all these different indices, someone remind me, these are all based on sold prices right?
Not all are sold prices, however their use of data suggests prices are rising.0 -
Some mistake, surely?
I thought house prices were 70% down!
Can't remember who told me that.....0
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