MSE News: UK house prices reach all-time high, Nationwide says

J_i_m

Sibley wrote: »

How has HPC gang reacted to this news?...lol

Probably in a way as deliberately and provocatitively biased as you

onlyroz

We bought our 3-bed end-terrace in Berkshire for £250k in 2007. Today we had a double-glazing salesman in to do the paperwork for our new windows. As part of the credit check I told him how much we paid for the house - at the time the surveyor said that we were paying around £20k too much for the house - but the salesman's eyebrows shot right up and said "wow that's cheap". So only 7 years later the local tradespeople think that £250k is "cheap" for a 3-bed house.

I know that similar houses to mine are being marketed in the £350 range and I'd expect them to sell for at least £300 if not more. However, it does seem just a bit bonkers to me, when only last year the housing market in my village was stagnant and properties were not shifting at all.

Pincher

onlyroz wrote: »

However, it does seem just a bit bonkers to me, when only last year the housing market in my village was stagnant and properties were not shifting at all.

Alas, perfect women are in demand all the time, and you can't afford them any way. Nice girls get snapped up right away. The homely ones are always going to be third in line to be asked.

CLAPTON

onlyroz wrote: »

We bought our 3-bed end-terrace in Berkshire for £250k in 2007. Today we had a double-glazing salesman in to do the paperwork for our new windows. As part of the credit check I told him how much we paid for the house - at the time the surveyor said that we were paying around £20k too much for the house - but the salesman's eyebrows shot right up and said "wow that's cheap". So only 7 years later the local tradespeople think that £250k is "cheap" for a 3-bed house.

I know that similar houses to mine are being marketed in the £350 range and I'd expect them to sell for at least £300 if not more. However, it does seem just a bit bonkers to me, when only last year the housing market in my village was stagnant and properties were not shifting at all.

do you always believe double glazing salesmen?

onlyroz

CLAPTON wrote: »

do you always believe double glazing salesmen?

I have learned to distrust all salesmen, but he had no specific reason to be interested in the value of my house beyond whether I'd be accepted for his "buy now pay in a year" offer.

Catapa

Monthly house prices for June drop 0.6%, Halifax reports

Bigger than expected falls bucks overall upward trend, which is expected to continue beyond 2015- in today's Guardian.

AndyGuil

-0.6% vs +4% up last month. I would put that down to volatility (both of them).

PWC are expecting London houses prices to break through £500k next year. http://www.cityam.com/1404868931/average-london-house-price-hit-500k-next-year

luvpump

Even the three monthly average has stalled, flat-lined and the last month is down 0.6% along with three months out of the last four. To me this looks like the start of a trend, a change in sentiment and that the bubble is unsustainable.Couple to this the news that BTL barons are selling up as are huge property holdings companies in London, and the FTSE falling and you have signs of collapse.
Most telling is the fact that a 1.5% RISE was predicted but we got a 0.6% FALL instead = a whole 2.1% lower than predicted. People whole have sold recently have timed things very well but those who were greedy and just wanted to extract the last few quid will get their fingers badly burnt now.

padington

luvpump wrote: »

Even the three monthly average has stalled, flat-lined and the last month is down 0.6% along with three months out of the last four. To me this looks like the start of a trend, a change in sentiment and that the bubble is unsustainable.Couple to this the news that BTL barons are selling up as are huge property holdings companies in London, and the FTSE falling and you have signs of collapse.
Most telling is the fact that a 1.5% RISE was predicted but we got a 0.6% FALL instead = a whole 2.1% lower than predicted. People whole have sold recently have timed things very well but those who were greedy and just wanted to extract the last few quid will get their fingers badly burnt now.

We will see a dip eventually ... after that the prices will probably rise once more and those that bought and held will do very well.

Don't also forget, for every couple of BTL barons who are selling 1000 properties, some other BTL barons are buying the 1000 properties off them ...

AndyGuil

For clarity.
Month on month figures;
January +1.0% http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-trend-data-january-2014
February +0.7% http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-trend-data-february-2014
March -0.4% http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-tren-data-march-2014
April +1.5% http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-trend-data-april-2014
May +0.4% http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-trend-data-may-2014

Halifax and Nationwide are extremely volatile because they use a very small volume of properties. It is normal for them to swing up and down from month to month. They do however trend together over the long term with all indices pointing up.