Nationwide aug: + 1.3%

wotsthat

House prices down by less than £2k in two years. Is that it?

It's more continued good news for home owners and potential buyers. Owners are enjoying record low housing costs and potential buyers don't need t rush as prices don't seem to be going anywhere just yet.

Anyone hoping for or needing a crash must be close to despair by now.

DervProf

It is a suprising rise, if you consider the wider economic news recently.

However, prices have been quite volatile for a while now, and I still think there will be a slight downward trend in the next 6 - 12 months.

Obviously some will greet this news with :beer:, but looking at the longer term, it points to a rather less comfortable financial situation for a larger proportion of the population. As a homeowner that can see beyond the valuation my property, I can only see problems further down the line.

DervProf

wotsthat wrote: »

Anyone hoping for or needing a crash must be close to despair by now.

I think the number of people with those thoughts must be very low. Those that were looking to see an end to high HPI must be fairly happy right now. OK, it's probably harder to "get on the ladder" now than it was in 2006, but if this correction wasn't taking place, then how much mortgage debt would buyers be taking on now, and how much more risk would lenders be exposing themselves to ?

shortchanged_2

I see a 1.5% fall in the Nationwide index next month.

Loughton_Monkey

I note from the report that the long term real trend is 2.8% per annum above inflation. Not a bad return.

You have to look at the downloaded spreadsheet for the actual figures, from which I notice that the average price today is actually £164,955, while the 'trend' price is £185,542. That's 12.5% higher.

Smart people will notice, therefore, that if the trend continues longer term, then pitching in now is going to give an extra 12.5% return once they get back on trend. Might take 5 years or so, but better than a slap round the face with a wet fish.

Mr._Pricklepants

shortchanged wrote: »

I see a 1.5% fall in the Nationwide index next month.

oi oi be quiet, hold on, we aren't done celebrating this month's rise yet!

shortchanged_2

Mr._Pricklepants wrote: »

oi oi be quiet, hold on, we aren't done celebrating this month's rise yet!

Yes sorry. Congratulations to Hamish and the gang.

chewmylegoff

Did anyone mention yet that it is still down YoY, and that monthly figures are just noise? No, thought not.

IveSeenTheLight

mystic_trev wrote: »

On another website dedicated to Houseprices, the members are running around like the Fakawi Tribe *

*The Fakawi tribe. They are only three feet tall. Unfortunately, the grass where they live is four feet high, so they spend their lives jumping up and down letting people know they are there, shouting out "We're the Fakawi, we're the Fakawi !"

Hmmmmm.
Begs the question.
Who the Fak A Wi?

Hehe, is the joke that instead of saying We're, they meant Where.

"Where the Fak A Wi"

wotsthat

DervProf wrote: »

As a homeowner that can see beyond the valuation my property, I can only see problems further down the line.

There are a few that can only see problems. Must get quite depressing after a while.