Nationwide YoY down to 4.6%

michaels

I know we don't really do house price indicies anymore but this and the recent land registry continue to show yoy [STRIKE]declines[/STRIKE] oops slowdowns.

It will be interesting to watch the next few months to see if moderate price increases are the new normal or whether the slow down since last summer was just a pre-election blip.

I suspect the rightmove asking price index will definitely show a sharp rise following the election. Locally we seem to be seeing a mixture of new to market at eye watering prices and price reductions, not that many sales.

cells

Every month of 2014 had much higher transactions than 2013 until Nov. it appears that lower transactions lead to lower prices (or at least lower price growth). Not sure exactly why that would be, maybe estate agents get a bit !!!!ed off when sales volume drop and ask vendors to discount a bit to try and increase volume?




Jan and Feb 2015 volume is also down vs same months 2014

Jonbvn

Ancedotally, but sales have definitely taken off around where we live.

caronoel

4.6% annual rise while wage rises are still well below this? Not a bad result.

Round my way (market town in the South East) prices are now 40% above their pre-2008 crash levels

jacko74

Fully agree with the O.P.'s last point... I'm in a very stagnant area and it amazes me that new to market properties are put on at eye watering prices even though comparable houses have been sat unsold on the market for a year or more and usually had at least one price reduction.

Do these new vendors pay no attention at all to local market conditions and selling (or NOT selling) prices?

floridaman

My house has risen nicely, more eq each year just by time passing, also with mortgage payments I am a double threat guy lol

PasturesNew

Of course it's down.... that's when I bought

I've been tracking Zoopla since the day I bought it - that says it's up £9k. But ... I did pay a peak price at the time, higher than anybody else has ever paid in the whole bunch of houses.

But I've not paid rent for a year.... and it's nicer here than the rental I had.

I've lost interest on savings over that time though (so add 3 peanuts as the value of that).

wotsthat

PasturesNew wrote: »

Of course it's down.... that's when I bought

I've been tracking Zoopla since the day I bought it - that says it's up £9k. But ... I did pay a peak price at the time, higher than anybody else has ever paid in the whole bunch of houses.

But I've not paid rent for a year.... and it's nicer here than the rental I had.

I've lost interest on savings over that time though (so add 3 peanuts as the value of that).

Michaels has been a bit naughty in the thread title. The rate of annual increase is down to 4.6% but that means the typical/ average house has increased by 4.6% since you purchased.

Maybe some groin thrusting is in order.

Generali

wotsthat wrote: »

Maybe some groin thrusting is in order.

A moderate G'n'T certainly.

As purch says, the price is the price.

I CBA to do the sums but are real (inflation adjusted prices) moderating or is it just that as money stops losing value, houses priced in the money increase in price at a slower rate? [kinda shruggy whilst having a pretty decent idea of the answer smiley]

michaels

Isn't cpi down from about 2.5% to 0% but hpi down from about 10% to 4.6%?

Of course it is where it is going rather than where it has been that probably matters most and with HPI if there were stead month on month increases of 1% then 6 months ago that dropped to zero the YTD woudl be 6% which is correct but may not reflet the situation on the ground. Strangely I think houses are one of the few markets were price expectaions do play a role. People don't put off buying a TV or iPhone even though they know it will be cheaper in a year; they do buy a house now because they will be priced out in a year or continue renting because they think their money will go further in 12 months time.

chucknorris

wotsthat wrote: »

Michaels has been a bit naughty in the thread title. The rate of annual increase is down to 4.6% but that means the typical/ average house has increased by 4.6% since you purchased.

Maybe some groin thrusting is in order.

In the current inflation climate, 4.6% is massive, and I'm very pleased to see it. But I can't see it staying that high for long, I'd be happy with anything over 2% (bearing in mind there is also rental profit to consider).