Halifax -2.5 MoM

Guy_Montag

It's some sort of moving average, can't quite remember what.

YoY is 1.1%

Dan:_4

neas wrote: »

Is the YoY figure a rolling figure? I.e comparing February 2007 to February 2008 or Highest Value in a 2007 -> Current Value

?

Correct. So, according to the halifax house prices have risen 1.1% in the last year.

neas

South West

-2.6 % Monthly
-3.3 YoY

Wahoo :P

Dan:_4

I reckon that this months sharp decline is to bring them in line with Nationwide.

Dan:_4

dudleyboy wrote: »

P.S. "House prices only ever go up"

They have in some regions according to the report!

Griptool

Guy_Montag wrote: »

It's some sort of moving average, can't quite remember what.

YoY is 1.1%

It is year on year negative, however, Halifax use a three month rolling average for their Y-O-Y figures.

March 2007:
£194,094

March 2008:
£191,556

Month on month 2.5% is full crash speed, annualised, its 26.2% (I think - compounding works on the way up and on the way down)

neas

Im happy my area is tanking

carolt

http://www.guardian.co.uk/money/2008/apr/08/houseprices.property

Guardian article - note:

Howard Archer, chief UK economist at Global Insight, said: "It is important not to put too much emphasis on one piece of data, and it should also be borne in mind that house prices are still only down 1.0% quarter-on-quarter in the first quarter of 2008.

"Nevertheless, the overall impression is that house prices are buckling markedly under the substantial pressure emanating from increased affordability constraints and markedly tighter lending conditions."

As a result of the latest figures Archer now expects house prices to fall by 7% in 2008 and 8% in 2009.

"We had previously forecast prices to fall by 5% in both years, but the recent escalation of the credit crunch means that there is a markedly increased danger that a sharp housing market correction could occur.

"Current rapidly deteriorating sentiment over the housing market also heightens the risk that house prices could fall more sharply over the next couple of years.

"Indeed, there is now a very real danger that a drop of more than 20% in house prices could occur over the next couple of years."

neas

so basically they are just guessing... when figured show a acceleration they increase their guess?

Are these supposed to be the experts? Or just BS they write?

luvpump

Isnt it funny how the banks produce these figures just a few days ahead of the BOE meeting !!! ... pure coincidence ofcourse !! .. but i guess it gaurantees a .25 cut now !!! ..