Nationwide- +0.8% MoM +3.9% YoY

System

chucknorris wrote: »

I'm starting to lose count of the number of positive news items now, those still hoping for a crash must be getting quite desperate. I don't think anybody even remembered that yesterday was the first Thursday of the month and the BOE base rate was yet again held at 0.5%, it isn't even newsworthy any more and hasn't been for some time.

Construction PMI looks good too.

chucknorris

Joeskeppi wrote: »

Construction PMI looks good too.

http://uk.reuters.com/article/2013/08/02/uk-construction-pmi-idUKBRE9710E320130802

Graham_Devon

ukcarper wrote: »

True and I don't see that there will ever be a time when they can but the higher prices are in relation to earnings the more people are prevented from buying I'm not convinced high prices are a benefit.

Its mostly landlords against everyone else on here now though.

Those who have the most want more. Simple as that.

It's just greed, BUT, that's how everything we have has been built.

the_flying_pig

IveSeenTheLight wrote: »

...In terms of property, affordability really needs to be assess against the costs of servicing the finance on the property.
Statistically, properties are historically more affordable now when compared to the last 30 year average...

remind me why this particular dazzling insight makes 2013 vs 2012 HPI a "reason to celebrate"?

the_flying_pig

Graham_Devon wrote: »

Its mostly landlords against everyone else on here now though...

don't forget the estate agents.

Graham_Devon

the_flying_pig wrote: »

don't forget the estate agents.

Have we got any on here?

chucknorris

Graham_Devon wrote: »

Its mostly landlords against everyone else on here now though.

Those who have the most want more. Simple as that.

It's just greed, BUT, that's how everything we have has been built.

I am certainly not 'against' anyone on this forum board and I don't consider myself greedy either.

Graham_Devon

chucknorris wrote: »

I am certainly not 'against' anyone on this forum board and I don't consider myself greedy either.

Never said you were. But your reference to "those hoping" for lower prices so they can actually buy themselves a home must be desperate tells it's own little tale.

Theres no concern there, it was written in a more gleeful tone.

I'm certainly not having a go, just telling it how it is. If you take offence from that, then I apologise, but it IS how it is. The majority who are pro HPI including yourself are either landlords or have multiple houses on this forum. Yourself being a landlord. ISTL, landlord, Hamish, mutliple owner, Wotsthat multiple owner and so on....

The rest of us who are either against high HPI or neutral are mostly home owners. Percy, carper, myself, grizzly etc.

Graham_Devon

Anyway, on this sort of growth, help to buy cannot be justified. Certainly the next instalment can't. We are now seeing YOY growth above inflation. To pump it up further through schemes would be pure insanity.

Hopefully, the bittersweet will play out here, with this sort of growth halting price pumping schemes as further growth will not go down well when it comes to discussing the implementation of the mortgage guarentee.

And as it happens, i've just read an article on the guardian in which it seems VI's are also mulling the removal of such scheme as a threat now, including low interest rates and are warning against pulling any scheme as it will damage the recovery. They must be getting jittery that too much of a good thing could bring the party to a close early.

"It is therefore important to note that if this stimulus is removed too quickly, it may have a detrimental effect on the housing market. Tackling the deficit of new and affordable housing is a vital requirement to help the housing market start to stand on its own once again."

Thing is, you can't get affordable housing if prices are rising above inflation and well above wage inflation. So it's pointless to pretend keeping price pumping schemes will make things more affordable.

chucknorris

Graham_Devon wrote: »

Never said you were. But your reference to "those hoping" for lower prices so they can actually buy themselves a home must be desperate tells it's own little tale.

Theres no concern there, it was written in a more gleeful tone.

I'm certainly not having a go, just telling it how it is. If you take offence from that, then I apologise, but it IS how it is. The majority who are pro HPI including yourself are either landlords or have multiple houses on this forum. Yourself being a landlord. ISTL, landlord, Hamish, mutliple owner, Wotsthat multiple owner and so on....

The rest of us who are either against high HPI or neutral are mostly home owners. Percy, carper, myself, grizzly etc.

What you and others are failing to realise is that this is good news for the economy, so it is good news for everyone. There just isn't a viable scenario where house prices crash and yet the economy improves so that those who want to buy could afford to buy and get mortgages.

You are NOT telling it how it is, not everyone who is financially successful is greedy, much in the same way that not everyone who isn't financially successful is bitter.