HALIFAX House prices surge nearly 6% in just one month

triathlon

I just cannot wait to see the doomsters talk their way out of this one:rotfl::rotfl:

I have said it repeatedly that the potential for further rises in UK property market is huge, and with the welcome immigration figures rising again. Part of me was expecting a flat lining or small fall this year with me freezing my rents for 12 months tops and with prices rising again before 2020.

But in recent weeks I am tempted to start raising rents again in the next several weeks, when is old Brucie boy going to learn his lesson on HPC, two decades now calling a crash :rotfl:

https://www.mortgagesolutions.co.uk/news/2019/03/07/house-prices-rebound-almost-6-in-february-halifax/

phillw

I think it's still too early to say what will happen, one swallow doesn't make a summer.

Previous month wasn't great, so this could just be a delay while people waited to see what happened which people are now giving up on. Don't forget that buying property isn't an instant purchase, people buying in February will have been basing it on how they felt in December. Things may have happened in the mean time which would put new people off starting buying, but not bad enough for them to pull out.

I'm not expecting a crash, but with all the uncertainty it's hard to tell whether it will flatline yet.

mayonnaise

Probably because Brexit is cancelled?

smipsy

mayonnaise wrote: »

Probably because Brexit is cancelled?

i don't have a crystal ball, but i hardly doubt that was ever a possibility, far too much money to be made by those at the helm

phillw

mayonnaise wrote: »

Probably because Brexit is cancelled?

I must have missed that news report, offer to completion takes six weeks. So anything reported today will take at least a month and a half before it will be reflected in house sales.

Things have to get really bad before people will pull the plug after putting in an offer, especially after exchange.

If you've been looking for three months or more and are so sick of looking at houses that you found one you might be interested in then you may sell a kidney just to push your offer up rather than keep looking.

Thrugelmir

With Persimmon Homes making £66k a plot thanks to HTB. Anything is possible in this market.

Rich2808

So Nationwide reported prices fell slightly in February and Halifax reported they went up 6%?

Apparently one commentator has stated the Halifax figure is due to pre Brexit confidence?!! Yet the Nationwide slight fall was due to nervousness over Brexit.

Brexit can achieve anything and everything it seems!