UK house prices back on upward path

sham63

Figures from the Department of Communities and Local Government showed house prices rose 0.4% in December 2007 to an average of £219,591, following a 0.8% slide in November.

I guess this is more evidence for the 'stagnation' theory

http://uk.biz.yahoo.com/080211/214/htai4.html

Running_Horse

Maybe less houses are going on the market? It's not yet like the early 90s with thousands forced to sell at any price. There are less houses on the market in our area than when we were looking one year ago, with more houses sold than for sale. Maybe we were just lucky to find a popular area.

Sisyphus

sham63 wrote: »

Figures from the Department of Communities and Local Government showed house prices rose 0.4% in December 2007 to an average of £219,591, following a 0.8% slide in November.

I guess this is more evidence for the 'stagnation' theory

http://uk.biz.yahoo.com/080211/214/htai4.html

weren't you one of the one's moaning about people not sticking to the House Price Crash thread? Wouldn't this link be better in that thread?

JohnInDebt

..............................

The DCLG statistics lag behind other house price indexes as they are based on sale completions, rather than mortgage approvals.

January figures from the Halifax bank and the Nationwide Building Society signalled further falls in annual house price inflation.

The Halifax, the UK's biggest mortgage lender, said annual house price inflation was 4.5% in January, down from the previous month's figure of 5.2%.

Nationwide said the annual rate of price growth dropped to 4.2% in January, which was the lowest rate since December 2005.

dys

This survey for the last 6 months reported rises in 5 of those months - even halifax and nationwide surveys reported some falls during those months! Come on, this government report is the ultimate vested interest and is hardly going to show anything other than rises or tiny falls.

hgllgh

take a look at the monthly price indicators on http://www.housepricecrash.co.uk/

They are all down apart from the Halifax and FT Houseprice index, but these have yet to release Januaries figures so who knows, could be a clean sweep.
I believe these two indices have question marks hanging over them as they always seem to contradict the general consensus of all the other indices, especially the Halifax (surprise surprise!) The Halifax methodology excludes properties it doesn't think should be in ... hmmm.:rolleyes:

dannyboycey

sham63 wrote: »

Figures from the Department of Communities and Local Government showed house prices rose 0.4% in December 2007 to an average of £219,591, following a 0.8% slide in November.

I guess this is more evidence for the 'stagnation' theory

http://uk.biz.yahoo.com/080211/214/htai4.html

There were plenty of small rises and falls during the last crash. This is nothing new. In fact throughout 91-93, there were countless 'house prices on the up again' type stories. I doubt this will be the last.

sm9ai

Isn't it funny how quickly things change.

Of the HPI and HPC crowds the hpc crowd use to clutch at any month that prices decreased slightly.

Now there is so much hpc news that the hpi crowd grabs at any new about rising prices.

Kez100

We bought in 1991 thinking prices had turned as they were back on the up. Only for a few months did they rise then they dropped again........we ended up selling in 1994 for nearly 10% less.

mr.broderick

sm9ai wrote: »

Isn't it funny how quickly things change.

Of the HPI and HPC crowds the hpc crowd use to clutch at any month that prices decreased slightly.

Now there is so much hpc news that the hpi crowd grabs at any new about rising prices.

I don't think i agree with this.

At this moment in time even though i own a property i would not want a property price acceleration, i would welcome a decrease,I think most owners would.

Think most of the hpc crowd wanted a crash because they had been priced out of the market and you can't blame them for that.

High house prices are not a good thing.