MSE News: Nationwide: House prices up 1.3%

rickbonar

Wonder what's going to happen next month?:doh:

nollag2006

rickbonar wrote: »

Wonder what's going to happen next month?:doh:

I'd say that the BOE rate will remain unchanged.

In all truth, we are more likely to see a cut to 0.25% rather than a rise.

brit1234

HAMISH_MCTAVISH wrote: »

Excellent news.

Really Hamish.

But without the seasonal adjustment, house prices only rose by 0.2 per cent. The low level of trasactions has accentuated the monthly trends. Seasonal adjustment attempts to allow quieter months for the property market to be compared fairly with busier periods.

http://www.myfinances.co.uk/mortgages/2012/09/02/nationwide-biggest-monthly-house-price-jump-since-jan-2010

So with an actual rise of 0.2% I wonder why they make up another 1.1%.

No wonder they had a big rise when you add 1.1% for no reason. Its a massive distortion of the truth.

Time to get rid of seasonal adjustments and just let the figures speak for themselves.

ukcarper

brit1234 wrote: »

Really Hamish.


http://www.myfinances.co.uk/mortgages/2012/09/02/nationwide-biggest-monthly-house-price-jump-since-jan-2010

So with an actual rise of 0.2% I wonder why they make up another 1.1%.

No wonder they had a big rise when you add 1.1% for no reason. Its a massive distortion of the truth.

Time to get rid of seasonal adjustments and just let the figures speak for themselves.

Just out of interest when the opposite happens at other times of the year do you point that out.

art_for_arts_sake

HAMISH_MCTAVISH wrote: »

Great news for everybody.

Falling prices are immensely destructive for the economy.

I'd argue that falling sales and a stagnating house market are more destructive. But who benefits from price rises besides estate agents, solicitors and the Government? Not cash-strapped families seeking to better themselves or people taking on mortgages for the first time. Fat cats with a portfolio of property investment might do well out of it, but we've already seen what a mess they've made of the economy.

ukcarper wrote: »

Just out of interest when the opposite happens at other times of the year do you point that out.

The Halifax reported a drop in house prices a month ago.

I personally think the whole thing's meaningless, how do you measure a fall or rise? I normally take the Halifax figures with a pinch of salt as they're clearly designed to stimulate house sales, but the Nationwide usually tend to err on the side of caution. But the houses I'm looking at don't suddenly put their prices up, and even if they did 1.3% is hardly significant enough for me to change what I'd offer, or what they'd accept.