Nationwide up 0.2% in February

Rinoa

http://www.telegraph.co.uk/finance/economics/houseprices/9901828/House-prices-rise-0.2pc-in-February.html

In its latest house price index, the building society said the average price of a home in the UK rose by 0.2pc from in Ferbruary month-on month, after a 0.5pc rise in January, with the average cost of a home now £162,638. However, prices were unchanged from a year earlier.

Nationwide said there had been "tentative signs of a pick-up" in recent months, following the launch of Government's Funding for Lending Scheme which provided cheap credit to banks in a bid to encourage lending, which has prompted lenders to slash their mortgage rates.

Robert Gardner, Nationwide's chief economist, said evidence that the jobs market is improving despite the tough economy is likely to bolster demand from potential buyers in the coming months amid the improved mortgage conditions.

"The Funding for Lending Scheme has achieved some success in bringing down mortgage rates, with encouraging signs of an improvement in credit availability," he said.

"There are reasons for cautious optimism that activity will gather momentum in the months ahead."

shortchanged_2

"Prices were unchanged from a year earlier." :think:

Rinoa

shortchanged wrote: »

"Prices were unchanged from a year earlier." :think:

Prices up 0.7% this year.

Some would argue prices are trending upwards.

chucky

Rinoa wrote: »

Prices up 0.7% this year.

Some would argue prices are trending upwards.

0.2% or 0.7% is nothing, it is amusing that the same guys celebrating a 0.8% or 5% price fall and now clinging on to unchanged prices as success. Bless them.

shortchanged wrote: »

"Prices were unchanged from a year earlier." :think:

Turnbull2000

From the Telegraph. I can see ownership settling at around 50%, with a continued divergance of earning a rents. Stuart Law was correct IMO to point out that the high street will get battered as landlords capture more of their tenants income.

shortchanged_2

Turnbull2000 wrote: »

From the Telegraph. I can see ownership settling at around 50%, with a continued divergance of earning a rents. Stuart Law was correct IMO to point out that the high street will get battered as landlords capture more of their tenants income.

So with the tenants income getting a bashing what are all these enriched landlords going to do with all their extra money?

The future make up of the UK's economy looks fascinating.

Mr._Pricklepants

shortchanged wrote: »

So with the tenants income getting a bashing what are all these enriched landlords going to do with all their extra money?

Buy another BTL, and paint and flooring and boilers and curtains and doors and lighting and skirting boards and fridge freezers and roof tiles and washer dryers and ovens and furniture and double glazing and baths and plumbing and sockets and radiators and lots lots more.

shortchanged_2

Mr._Pricklepants wrote: »

Buy another BTL, and paint and flooring and boilers and curtains and doors and lighting and skirting boards and fridge freezers and roof tiles and washer dryers and ovens and furniture and double glazing and baths and plumbing and sockets and radiators and lots lots more.

What a pity Focus DIY couldn't hold on for a couple more years then or it would have been boom times ahead for them with all the cowboy BTLer's turning their hands to botched renovations.

Mr._Pricklepants

shortchanged wrote: »

What a pity Focus FIY couldn't hold on for a couple more years then or it would have been boom times ahead for them with all the cowboy BTLer's turning their hands to botched renovations.

True....and decent landlords doing quality renovations also of course.

HAMISH_MCTAVISH

Prices continue to rise then.

ruggedtoast

These statistical releases are hitting the form hpc.co.uk like like uncannily well aimed depth charges hitting a WW2 submarine.

Each explosion rattles their pipes and causes water to spurt over them in a tangy and briney spray. They are running frantically trying to stop the spurting. They are cringing on the bottom in silence trying to hide from the sonar.

But something tells me that they will up their periscope and fire a cheeky torpedo before too long.