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MSE News: House prices up 4.6% over past year, Halifax says
Former_MSE_Helen
Posts: 2,382 Forumite
"House prices have increased at their fastest pace in almost three years, Halifax reported today..."
Read the full story:
House prices up 4.6% over past year, Halifax says
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House prices up 4.6% over past year, Halifax says
This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Excellent news.
Sustained HPI is exactly what is needed to restore the health of the wider economy.
As prices rise back towards and then above their previous nominal peak, fewer people will be in negative equity which increases their ability to move and provides greater employee mobility.
As the wealth effect kicks in then consumer spending in the economy increases, business investment rises as a response, and unemployment falls as a result.
As more people move then more economic growth is generated from associated goods and services.
As more people fall into lower LTV bands, the cost of mortgages gets cheaper so more money is spent by households.
And as more mortgages are available, more housing gets built, and more existing housing comes onto the market as prices rise and reluctant landlords can sell, meaning more people can buy houses.
This is absolutely brilliant news for the housing market, the wider economy, and society as a whole.
No wonder it's so popular with the public, from all parties, as it's the first really good and successful thing this government has done economically so far.
With poll numbers like that, the government can comfortably afford to ignore the few doom-mongers and media types that moan about it.
:beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Funding for Lending cheap money, fracking lowers oil prices, good times are back. Let's make babies.
Breed away. When the shale runs out, that's when the carnage starts.0 -
When the shale runs out, that's when the carnage starts.
A century or more then.
Sure we'll have invented something else by then to compensate:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Hamish, please can you explain to me how, with general inflation running at 2-3%, HPI greater than about 3% per year can be sustained.0
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let's keep our fingers crossed that the cost of petrol, food and energy rises as well:beer:0
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Choo-choo - all aboard the home owning train to a better life.0
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christopher1977 wrote: »let's keep our fingers crossed that the cost of petrol, food and energy rises as well:beer:
Houses are assets, just like shares, stocks, bonds, etc.
Sure, assets can also have utility value, like fine wines or classic cars. but you'd no more want houses to lose value than you would shares.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
angrypirate wrote: »Hamish, please can you explain to me how, with general inflation running at 2-3%, HPI greater than about 3% per year can be sustained.
I already have on numerous occasions.
You don't listen.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
"House prices have increased at their fastest pace in almost three years, Halifax reported today..."Read the full story:
This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
My impression is that the rise has been caused by two factors:
1) continued low interest rates
2) lack of availability
The low interest rates, combined with the fact that so few people are selling compared with historical levels, is pushing prices up and up.0 -
The low interest rates, combined with the fact that so few people are selling compared with historical levels, is pushing prices up and up.
Demand is recovering from record low levels due to mortgage rationing easing.
While supply of new housing is at 100 year lows thanks to 5 years of mortgage rationing killing house building.
The seeds have been sown for the next boom.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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