Nationwide Oct: +0.6%

Loughton_Monkey

Graham_Devon wrote: »

I think it's a real problem now (being stored for the future). IMHO the danger mark has been passed.

0.5% are normal now. We don't even bother discussing them anymore. Hamish doesn't even glance their way when discussing a normal market. Even economists all but ignore them now. A builders report the other day went into loads of detail about the future and current issues surrounding the market, and interest rates weren't even glanced at.

How was the Teddy Bear's picnic? Plenty of hard cheese, sour grapes, cooked goose, and a pinch of salt, all washed down with mouthfulls of whine?

Indeed, low interest rates are 'normal' now which is why they aren't mentioned. They will only rise once prices and economic growth get moving again. Don't hold your breath. THey are in for the duration.

But when that happens, new borrowers will understand why they were 'affordability tested' and so will get by. Older borrowers will see large equity rises and happily cough up their repayments - no worse than when they started. This will leave a small and insignificant constituency of 2007 lier-buyers, who will have no effect on house prices. They will simply fade into the obscurity of boring Guardian articles such as "All I did was inflate my salary by 125% and now I'm paying the price..."

.... large gin & tonics all round....

ruggedtoast

Over on hpc.co.uk they are despondent about this news. They are flaccid.

moneyinmypocket

shortchanged wrote: »

Nah, I'm alright, thanks for asking though.

Bitter much

Graham_Devon

Loughton_Monkey wrote: »

How was the Teddy Bear's picnic? Plenty of hard cheese, sour grapes, cooked goose, and a pinch of salt, all washed down with mouthfulls of whine?

Let us know when they go up and you are moaning about the injustice of it all.

shortchanged_2

moneyinmypocket wrote: »

Bitter much

No, Lager mainly.

robmatic

shortchanged wrote: »

That's the big danger isn't it. Particularly amongst FTB's coming onto the market who may think these current rates are normal.

I think you've missed the massive disconnect between base rate and the rates that FTBers with modest deposits are actually paying.

DaddyBear

HAMISH_MCTAVISH wrote: »

The price of a typical UK house increased by 0.6% in October

Year on year fall decreases to just 0.9%

Price of a typical home is £164,153

London now within 2% of previous peak

Aberdeen +4% year on year

:beer:

Stagnant.

Actually, the only reason I open these threads is to giggle at the lengths Hamish will go to to avoid putting a negative figure in the title and opening post. "Year on year fall decreases to 0.9%". Love it.

IveSeenTheLight

DaddyBear wrote: »

Stagnant.

Actually, the only reason I open these threads is to giggle at the lengths Hamish will go to to avoid putting a negative figure in the title and opening post. "Year on year fall decreases to 0.9%". Love it.

LOL.
The OP article is on the latest release
http://www.nationwide.co.uk/hpi/historical/Oct_2012.pdf

The headline is: -
UK house prices rise by 0.6% in October

What's laughable is people trying to spin the figure.

Of course it's important to understand the context, but extremely amuzing that some people (not surprising with the username DaddyBear) try to spin the negative figures as to what the headline should be.

Percy1983

robmatic wrote: »

I think you've missed the massive disconnect between base rate and the rates that FTBers with modest deposits are actually paying.

This is true, my interest rate is nothing like the base rate.

Graham_Devon

IveSeenTheLight wrote: »

Of course it's important to understand the context, but extremely amuzing that some people (not surprising with the username DaddyBear) try to spin the negative figures as to what the headline should be.

You seen what MSE have done?

"House prices continuing to fall, says nationwide".