MSE News: House prices climbed in October, says latest report

Former_MSE_Natasha

This is the discussion thread for the following MSE News Story:

Read the full story:
House prices climbed in October, says latest report

Blacklight

Halifax October Release

setmefree2

I'm still saying big 2011....


..... and one of these days someone will "Thank" one of my posts lol

setmefree2

Why "Thank You" Blacklight for your kind "Thanks" I hope that wasn't you taking pity on me....

the_flying_pig

confirms what many suspected, namely that the sep figure included some sort of measurement error.

the halifax data seems to show that:

(1) prices are falling [we seem sure to end the 2010 down by a few percent];
(2) but only slowly.

i'm not unhappy with that.

neverdespairgirl

Well, I'm confused! I suppose it does indeed show that Generali is right - monthly figures are noise.

dopester

What reasons do you expect a spring up in prices smf? Chucky and most other sensible optimistic property people aren't expecting that to occur - afaik.

“An increase in the number of properties available for sale in recent months, together with a decline in demand, has put some downward pressure on prices in recent months. We do not believe that prices are set to fall sharply over a sustained period. Interest rates are likely to remain very low for an extended period, which will continue to support the improved mortgage affordability position for homeowners. Low rates and stable employment levels are benefiting homeowners."

We'll see. I'm not sure low rates can prevent it - hasn't rescued some parts of the US (yes know of the differences) as public sector costs reforms kick in, uni fees shoot up ect ect. Low rates are certainly recuing the debt heads though, and denying entry to those who should have been allowed opportunity via corrective market forces.

gagahouse

neverdespairgirl wrote: »

Well, I'm confused! I suppose it does indeed show that Generali is right - monthly figures are noise.

UK House prices OCTOBER 2010 (seasonally adjusted)

Annual change +1.2%
Quarterly change -1.2%
Monthly change +1.8%
Average Price £164,919


Commenting, Martin Ellis, housing economist, said:
"Prices in the three months to October were 1.2% lower than in the preceding three months. This measure gives a better indication of the underlying trend in house prices than the monthly changes. There has been a very mixed picture of monthly house price rises and falls throughout 2010, which continued in October with prices rising by 1.8% following September's decline, reflective of flat house prices. The rate of decline in prices on the three month-on-three month measure is markedly less than the quarterly declines of more than 5% recorded during the second half of 2008.

Quarterly shows -1.2%, this is a less "noisy" measure - slow but steady falls seems to be the trend

Blacklight

Halifax report says 'things are largely flat'. At least that's what it says to me.

IveSeenTheLight

gagahouse wrote: »

Quarterly shows -1.2%, this is a less "noisy" measure - slow but steady falls seems to be the trend

Blacklight wrote: »

Halifax report says 'things are largely flat'. At least that's what it says to me.

Indeed, many predicted a stagnant year.
We saw increases in the first half and now declines in the second half.

2010 will turn out as many predicted to be a stagnant year.

P.s. doubt this thread will see 34+ pages

Really2

Wonder if the same people calling last month figured gospel and the and the start of the crash will be calling this the start of the boom.

What a surprise, the biggest fall is followed by the biggest rise for 1year +.

I take it the Halifax has lost its credibility (again) with this month.

To me this screams the Halifax are not doing many transactions as their data is so much wilder than the nationwide and LR.