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Nationwide - December -0.50%

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mystic_trev
mystic_trev Posts: 5,434 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
in House buying, renting & selling
House prices fell by 0.5% in November, the second consecutive monthly decline
The average price of a UK property is £8,334 higher than a year ago
Rate cuts will help but are unlikely to reignite the housing market as in 2005

Full article

http://www.nationwide.co.uk/hpi/

Comments

  • $$$_12
    $$$_12 Posts: 163 Forumite
    Do you think there's a chance they'll change that url to nationwide.co.uk/hpd/ next year?
  • wibble68_2
    wibble68_2 Posts: 176 Forumite
    House prices down 4k in 2 months.

    Time to leave the sinking boat?
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Also from Nationwide
    http://www.nationwide.co.uk/hpi/historical/dec_2007.pdf

    While it states that the interest rate cuts are unlikely to re-ignite the prices as in 2005, they do state that it is likely this will stabalise the market rather than re-ignite it

    Its also interesting that a 0.8% drop in November reduced to a 0.5% drop in December.

    Is this also a sign of a possible stabalisation?
    What will be the effect of the rumoured further 2 interest rate cuts to the HPI?

    Definately no indication of a crash in this article though !!!!
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • wibble68_2
    wibble68_2 Posts: 176 Forumite
    IveSeenTheLight wrote: »
    Also from Nationwide
    http://www.nationwide.co.uk/hpi/historical/dec_2007.pdf

    While it states that the interest rate cuts are unlikely to re-ignite the prices as in 2005, they do state that it is likely this will stabalise the market rather than re-ignite it

    Its also interesting that a 0.8% drop in November reduced to a 0.5% drop in December.

    Is this also a sign of a possible stabalisation?
    What will be the effect of the rumoured further 2 interest rate cuts to the HPI?

    Definately no indication of a crash in this article though !!!!




    How surprising that the Nationwide aren't predicting a crash.

    Funnily enough they also didn't predict a crash in the early 90's.
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    wibble68 wrote: »
    How surprising that the Nationwide aren't predicting a crash.

    Funnily enough they also didn't predict a crash in the early 90's.
    Wednesday 06 MAR 1991 - The Times - House price rises predicted this year

    House prices remained almost static between January and February, indicating that the market has finally bottomed out, the Nationwide Anglia Building Society reported yesterday.
    No, but they did try to call the bottom :D
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • poppy10_2
    poppy10_2 Posts: 6,588 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    When did we actually reach the bottom then?
    poppy10
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Not too many predicted the madness of the past few years either! You can't make proper predictions about bubble markets IMO as they are driven by their own internal madness rather any sane idea about what value the underlying asset has.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    poppy10 wrote: »
    When did we actually reach the bottom then?

    About two years later.
    Trying to keep it simple...;)
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    EdInvestor wrote: »
    About two years later.


    IIRC, we sort of bumped along for about 3 further years after that with prices not really rising in general.
This discussion has been closed.
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