Prices dip in April ..

luvpump

I thought historically they rose in spring ? But with inflation running at approx 3-4% per annum, this is yet another "reduction" in the housing sector..

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10029666/House-prices-dip-in-April-Nationwide.html

dryhat

Historically, the "spring bounce" refererred to an increase in viewings/sales and had nothing to do with rising prices.

The term only started to be used on here to mean rising prices around 5 years ago as an attempt by the HPI nutters to convince themselves that everything will be ok come the spring..

And 5 years later, all those "spring bounces" have come to f*ck all

antrobus

Aren't the Nationwide figures 'seasonally adjusted'?

Generali

antrobus wrote: »

Aren't the Nationwide figures 'seasonally adjusted'?

Yes they are.

The average, mix adjusted, hedonicly regressed house that has a Nationwide mortgage to buy it went up £1,000 in the last month.

System

antrobus wrote: »

Aren't the Nationwide figures 'seasonally adjusted'?

Yes, prices increased in April but the index by which they are measured dipped. Slightly silly title.

Generali

Joeskeppi wrote: »

Yes, prices increased in April but the index by which they are measured dipped. Slightly silly title.

It's amazing how static things are in nominal terms. Up 0.9% on the year.

Annual price changes for the past 3 years have been pretty much between -1% and +1%. Of course that presupposes that you can meaningfully talk about a UK housing market which I don't think you can as a town house in Edinburgh isn't a very good substitute for a cottage on Dartmoor or vice versa.

System

Generali wrote: »

It's amazing how static things are in nominal terms. Up 0.9% on the year.

Annual price changes for the past 3 years have been pretty much between -1% and +1%. Of course that presupposes that you can meaningfully talk about a UK housing market which I don't think you can as a town house in Edinburgh isn't a very good substitute for a cottage on Dartmoor or vice versa.

I also think it's amazing how all the indices have generally been so close together. Different datasets and different methodologies but they all show nearly the same thing.

Graham_Devon

Joeskeppi wrote: »

Yes, prices increased in April but the index by which they are measured dipped. Slightly silly title.

Swings and roundabouts.

Prices of houses fall, yet the index shows an increase too.It's still titled up as a rise on this forum.

Mr._Pricklepants

MSE article header on the right of my screen:

"House prices moving upwards, Nationwide says."

the_flying_pig

the chart in there is quite telling.

basically, from 2003 [arbitrary cutoff point but hey]:

(1) prices went up a lot;
(2) then about three quarters of those gains were lost;
(3) then about half of that loss was recovered;
(4) after that there was no change to speak of, not really.

chucknorris

luvpump wrote: »

I thought historically they rose in spring ? But with inflation running at approx 3-4% per annum, this is yet another "reduction" in the housing sector..

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10029666/House-prices-dip-in-April-Nationwide.html

Depends where you are, from the linked article:

However, he said the headline figure was misleading, as the market remains fragmented on a regional level, with prices in London "rising at the rate of knots" and many areas in Northern England continuing to see declines.

Sounds good to me.