Halifax March +0.2% MoM +1.1% YoY

HAMISH_MCTAVISH

House prices have risen 0.2% month-on-month in March and are set for a "modest increase" over 2013, Halifax said today.

The second monthly increase in a row takes average prices to £163,943, showing a 1.1% increase compared with a year earlier.

http://www.moneysavingexpert.com/news/mortgages/2013/04/house-prices-due-for-modest-increase-2013-Halifax-says

:beer:

IveSeenTheLight

Monthly figures are noise to be fair, that said......

On a quarterly basis, which measures underlying trends, house prices in the first three months of the year were 1.2% higher than in the final quarter of 2012, marking the fourth increase in a row.

Halifax says quarterly figures give the clearest indication of what is happening in the market as they smooth out monthly volatility

paul1964_2

HAMISH_MCTAVISH wrote: »

The second monthly increase in a row takes average prices to £163,943,

http://www.moneysavingexpert.com/news/mortgages/2013/04/house-prices-due-for-modest-increase-2013-Halifax-says

:beer:

Must admit, I haven't been keeping up to date with house prices recently - I thought the average Halifax price got to around 200k. Are you trying to say that according to the Halifax, house prices are nearly 20% lower than a few years ago?

Can't understand why so-called "bears" like yourself are so determined to try and talk the market down. Everyone knows you can't go wrong with bricks and mortar. Please try and be a bit more upbeat about the performance of property as an investment.

For example, you could think positive and say "if you bought a house in 2005 you would have broke even over the past 8 years". :beer:

IveSeenTheLight

paul1964 wrote: »

Must admit, I haven't been keeping up to date with house prices recently - I thought the average Halifax price got to around 200k. Are you trying to say that according to the Halifax, house prices are nearly 20% lower than a few years ago?

Can't understand why so-called "bears" like yourself are so determined to try and talk the market down. Everyone knows you can't go wrong with bricks and mortar. Please try and be a bit more upbeat about the performance of property as an investment.

For example, you could think positive and say "if you bought a house in 2005 you would have broke even over the past 8 years". :beer:

Fair point.

what's the comparison against other arbitary previous years like 1996 (circa £61k) or how about 1983 (circa £30k)?

Unless you bought at that time, what does it matter?

Do you get my point?

chucknorris

IveSeenTheLight wrote: »

Fair point.

what's the comparison against other arbitary previous years like 1996 (circa £61k) or how about 1983 (circa £30k)?

Unless you bought at that time, what does it matter?

Do you get my point?

You don't even have to go that far back, we bought a house in early 2008 and we are in profit.

The capital value has now recovered to more or less what we paid, it is actually more than we paid plus the refurbishment cost, but the excess only covers our opportunity cost.

The rent v mortgage however is where our profit comes from, the monthly rent since 2009 has been over £1,150 but the mortgage has only been £145, this gives us an annual profit of about 10k (very conservative figure).

So rather than merely breaking even on the 73k that we actually invested, we are currently receiving an annual return of approx 13.75% per year!

chucknorris

paul1964 wrote: »

For example, you could think positive and say "if you bought a house in 2005 you would have broke even over the past 8 years". :beer:

Or you could think even more positively and say 13.75% PA (see above), why are you so obsessed with capital value to the point where you ignore rental profit?

grizzly1911

chucknorris wrote: »

Or you could think even more positively and say 13.75% PA (see above), why are you so obsessed with capital value to the point where you ignore rental profit?

Perhaps he just sees a house as a home not a business?

grizzly1911

Separately, the Land Registry said prices in England and Wales rose by 1% over the last year.
London saw the sharpest increase, with prices going up by 6.3%.
Yorkshire and Humberside saw the biggest annual fall, with prices tumbling by 0.9%
The Nationwide said demand from buyers had been helped by lower mortgage costs and a better job market, but added that the outlook was "unusually uncertain".
Using the three-month-on-three-month comparison, a measure preferred by many economists, prices rose 0.2% over the last year.


All these figures is it 0.2%, 1.0%p.a, 1.2% p.a - no doubt green shoots held back by the weather.


Big variation across the country and the usual winner is London.


With CPI predicted to rise to 3.5% by the end of the year and incomes flat for many who knows.

chucknorris

grizzly1911 wrote: »

Perhaps he just sees a house as a home not a business?

I'm simply responding in the same language that he used, as in 'breaking even', You have to read my post in line with the post that I am responding to.

EDIT: As you suggest my home is simply my home, nothing to do with making a loss, profit or breaking even.

paul1964_2

chucknorris wrote: »

Or you could think even more positively and say 13.75% PA (see above), why are you so obsessed with capital value to the point where you ignore rental profit?

That's more like it. 13.75% PA - fantastic. Now if we can just extrapolate that growth for the next 10 years, we have got ourself a Daily Express headline and can do some proper ramping, rather than preaching to the dozen or so distinct posters on this forum.

You too would be obsessed with capital value if you had taken out a 125% I/O BTL mortgage in 2007 on a 1 bedroom flat. It was in a fantastic location and even after the riots the area is described as "desirable" by most estate agents. Even with the 60% discount given at the time by the property investment company, it is still so far in negative equity there is no chance of offloading it.

Then there is the shortfall between the rent and the mortgage. If it wasn't for my Auntie Maureen's sofa, I dread to think where I would be sleeping tonight.

We need to stop pus5yfooting about and get some proper HPI ramping going. You know, the old-style "property prices only ever go up" kind of thing. I'm sure most people have forgotten about the financial problems - after all, they were in the last decade, so pretty much ancient history.

chucknorris

paul1964 wrote: »

That's more like it. 13.75% PA - fantastic. Now if we can just extrapolate that growth for the next 10 years, we have got ourself a Daily Express headline and can do some proper ramping, rather than preaching to the dozen or so distinct posters on this forum.

You too would be obsessed with capital value if you had taken out a 125% I/O BTL mortgage in 2007 on a 1 bedroom flat. It was in a fantastic location and even after the riots the area is described as "desirable" by most estate agents. Even with the 60% discount given at the time by the property investment company, it is still so far in negative equity there is no chance of offloading it.

Then there is the shortfall between the rent and the mortgage. If it wasn't for my Auntie Maureen's sofa, I dread to think where I would be sleeping tonight.

We need to stop pus5yfooting about and get some proper HPI ramping going. You know, the old-style "property prices only ever go up" kind of thing. I'm sure most people have forgotten about the financial problems - after all, they were in the last decade, so pretty much ancient history.

Ahh I see, you just want to type unintelligent nonsense, in that case leave me out of it.