We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House Prices Surge again...Sky News..
Sibley
Posts: 1,557 Forumite
Really, we should shake hands and wish each other well.
It's the end of the debate.
There will be no house price crash. That's obvious.
Homeowners won. We beat the doomsayer's back down into their pit of despair.
Getting boring now. They have no argument.
http://news.sky.com/story/1134993/house-prices-surge-for-fourth-month-in-a-row
Further signs of strengthening confidence in the property sector emerge as a new report shows house prices up 0.6% in August.
8:21am UK, Friday 30 August 2013
The average UK house price is now more than £170,000
Nationwide
Graph: Graph: UK House Prices
Enlarge
Property values rose by 3.5% compared with a year ago, taking the average price for a UK home to £170,514, according to the Nationwide building society.
This marked a slight fall on the 3.9% surge seen in July, which was the biggest annual rise for three years.
"Consumer confidence has increased significantly in recent months, thanks to further modest gains in employment and signs that the UK economy is finally gathering momentum," Nationwide chief economist Robert Gardner said.
Prices rose 0.6% between July and August, which was also marginally lower than the 0.9% monthly hike seen in July.
But Nationwide said the quarter-on-quarter change showed underlying price rises have remained robust, up 1.4% in the three months to August - the strongest pace of increase since mid-2010.
The data comes after Bank of England (BoE) governor Mark Carney warned earlier this week over the risks of another housing bubble amid fears that Government stimulus measures are stoking unsustainable price rises.
He said the BoE is "acutely aware" of the potential threats and said action will be taken to clamp down on mortgage lending if needed.
Policy measures such as Funding for Lending and Help to Buy are boosting the market as they help first-time buyers in particular on to the property ladder.
Figures from the Council of Mortgage Lenders recently showed that first-time buyers accounted for 45% of house purchase loans in the second quarter - the highest since records began in 2005.
The Funding for Lending Scheme encourages banks and building societies to lend more in return for discounted loans, and has been credited with improving mortgage availability and reducing rates.
Chancellor George Osborne also launched Help to Buy in April, which allows people to buy a property with a 5% deposit, with the state lending buyers 20% of the value of a new home worth up to £600,000, interest-free for five years.
But there are concerns that these schemes will push up house prices and borrowing levels, rather than spurring on more new home construction.
Mr Gardner added: "While there have been encouraging signs that house building is starting to recover, construction is still running well below what is likely to be required to keep up with demand."
It's the end of the debate.
There will be no house price crash. That's obvious.
Homeowners won. We beat the doomsayer's back down into their pit of despair.
Getting boring now. They have no argument.
http://news.sky.com/story/1134993/house-prices-surge-for-fourth-month-in-a-row
Further signs of strengthening confidence in the property sector emerge as a new report shows house prices up 0.6% in August.
8:21am UK, Friday 30 August 2013
The average UK house price is now more than £170,000
Jan 2012FebMarAprMayJunJulAugSepOctNovDecJan 2013FebMarAprMayJunJulAugYear-on-year change in UK house prices for each month sinceJanuary 2012, on a seasonally adjusted basis.-30-2-11 Annual change
Nationwide
Graph: Graph: UK House Prices
Enlarge
Property values rose by 3.5% compared with a year ago, taking the average price for a UK home to £170,514, according to the Nationwide building society.
This marked a slight fall on the 3.9% surge seen in July, which was the biggest annual rise for three years.
"Consumer confidence has increased significantly in recent months, thanks to further modest gains in employment and signs that the UK economy is finally gathering momentum," Nationwide chief economist Robert Gardner said.
Prices rose 0.6% between July and August, which was also marginally lower than the 0.9% monthly hike seen in July.
But Nationwide said the quarter-on-quarter change showed underlying price rises have remained robust, up 1.4% in the three months to August - the strongest pace of increase since mid-2010.
The data comes after Bank of England (BoE) governor Mark Carney warned earlier this week over the risks of another housing bubble amid fears that Government stimulus measures are stoking unsustainable price rises.
He said the BoE is "acutely aware" of the potential threats and said action will be taken to clamp down on mortgage lending if needed.
Policy measures such as Funding for Lending and Help to Buy are boosting the market as they help first-time buyers in particular on to the property ladder.
Figures from the Council of Mortgage Lenders recently showed that first-time buyers accounted for 45% of house purchase loans in the second quarter - the highest since records began in 2005.
The Funding for Lending Scheme encourages banks and building societies to lend more in return for discounted loans, and has been credited with improving mortgage availability and reducing rates.
Chancellor George Osborne also launched Help to Buy in April, which allows people to buy a property with a 5% deposit, with the state lending buyers 20% of the value of a new home worth up to £600,000, interest-free for five years.
But there are concerns that these schemes will push up house prices and borrowing levels, rather than spurring on more new home construction.
Mr Gardner added: "While there have been encouraging signs that house building is starting to recover, construction is still running well below what is likely to be required to keep up with demand."
We love Sarah O Grady
0
Comments
-
-
Oh look.
2 x HPC shell shocked victims.
Come to my house party.We love Sarah O Grady0 -
I think a simple "Nationwide HPI up 0.6% in August" would have sufficed.0
-
-
You didn't really do much, except for arguing on a message board which only 0.000000001% of the British population visits.
you're exaggerating there.
i'd say taht at least 60 people read this board very regularly.
with the UK population at 60million, that's one in a million i.e. as many as 0.00001%.FACT.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards