House Prices Up....

Sibley

This news has cut the HPC team off at the legs...:j



House price growth picked up slightly in August, despite the Brexit vote, according to Nationwide Building Society.

The average price of a home rose 0.6% to £206,145 between July and August, according to the Nationwide house price index (pdf) – one of two major monthly surveys by UK mortgage lenders. This compares with a 0.5% monthly gain in June. The annual rate picked up to 5.6% from 5.2%.

https://www.theguardian.com/business/2016/aug/31/uk-house-prices-edge-up-in-august-nationwide-says

AnotherJoe

Ah buy they'll say "one months data is not a trend" (conveniently forgetting that in the previous month, since it was down, it was a trend

Not that I think this is good news, mild house price depreciation would be a good thing IMO.

Apparently manufacturing is booming now as well (again, just one months data). Which will in general help keep house prices high or at least help prevent them fall.

westernpromise

Quite funny now.

Crashy was predicting a 50% crash in Aberdeen 5 months ago. He seems oddly reluctant to discuss it now though.

LHW99

Even the news commentator today had to admit "its isn't very long....BUT we can't ignore the data..."

lisyloo

A number of commentators including nationwide have said the data is at odds with the signs.
The only sense that I can make of this is that it's a lagging indicators and other signs such as mortgage approvals may not be quite so lagging.

MoonJelly

Why is everybody here so happy to hear house prices are going up? It only means that people will have a harder time to get on the property ladder if they manage at all. :-(

AnotherJoe

MoonJelly wrote: »

Why is everybody here so happy to hear house prices are going up? It only means that people will have a harder time to get on the property ladder if they manage at all. :-(

Do you know what "everybody" means?

And where do you see happiness ?

economic

happy to prove the HPC folk wrong. its best to take an unbiased view on where prices are heading unlike the HPC folk and the folk who have bought and are boasting about it.

lisyloo

I'm not happy about it but what anyone wants has nothing to do with reality.

economic

its interesting - people complaining about high house prices is just another affect of the inequality rising and the anger rising too - driving things like brexit and the rise of the 3rd party.

will we see sometime in the near future a more radical government in the western world that would help the less fortunate by perhaps bringing in even more harsh tax and controls to property?

AnotherJoe

economic wrote: »

will we see sometime in the near future a more radical government in the western world that would help the less fortunate by perhaps bringing in even more harsh tax and controls to property?

No we won't.