House Prices Go up

Corley

http://news.bbc.co.uk/1/hi/business/4221598.stm


so they say anyway......

N9eav

I really wonder how my children will ever get their own home?

meanmachine_2

Oh groan.

So by the Halifax's reckoning, if we extrapolate, house prices will by up by 15% by the end of next year, while according to Hometrack and the other indices, they'll by down by 10%.

This market is becoming a farce.

Still, I guess that means interest rates will be back on the up.

ManAtHome

The BoE needs to act fast now we're back to 20%+ house inflation what with fuel prices and general inflation on the up and improvements in the manufacturing sector. Increasing rates half a point per month until end of the year should get things back under control

kinesin_2

Once again :


To put current moneylenders opinions and statistic into perspective, please review the historical articles below and consider what was really happening at the time.


The Times
MON 06 MAR 1989
House prices recover
House prices, suffering from the effects of interest rate increases, showed a slight recovery in February, rising by 1.6 per cent, compared with a fall of 0.8 per cent in January, Halifax Building Society reports today

The Times
WED 07 JUN 1989
Bigger rise;House prices
UK House prices rose by 1.7per cent last month compared with 1.2per cent in April, in spite of stagnant or falling prices in the Midlands and South, the Halifax Building Society said yesterday

The Times
THU 12 JUL 1990
House prices recover
SIGNS of a recovery in the housing market for the first time since the boom ended in the summer of 1988, are charted by the Halifax Building Society in its latest house-price survey published yesterday. For the third consecutive month house-price inf...

The Times
THU 12 JUL 1990
Society says return of first-time buyers lifting house prices
THE return of first-time buyers, enticed partly by a wide variety of mortgage discounts and other inducements, helped house prices to rise in June, but only by a modest 0.3 per cent, the Halifax Building Society says in a house price survey published...

The Sunday Times
SUN 14 OCT 1990
House prices bottom out
THE long slide in house prices could be nearing its end. The Halifax's latest quarterly survey of the property market shows that prices in general rose by 0.5% in September, and the indications are of a definite bottoming-out. Last week's cut in the

The Times
THU 06 DEC 1990
House price inflation up
THE annual rate of house price inflation rose in November. The 0.2 per cent year-on-year increase in prices was the first recorded since February by the Halifax Building Society

The Times
TUE 04 JUN 1991
2% house price rise is biggest for year
HOUSE prices increased by 2 per cent last month compared with the previous month, the largest monthly rise since March 1990, the Nationwide Building Society reported yesterday in its latest ouse price index. Nationwide said the increase followed the ...

The Times
THU 08 AUG 1991
Halifax building society revises its forecast on house prices
The Halifax building society yesterday revised its forecast of a 5 per cent increase in house prices this year

The Times
SAT 02 MAY 1992
House prices begin to rise
HOUSE prices rose by 0.7 per cent last month, making the average cost of a home Pounds 55,565, the Nationwide Building Society, said yesterday. The rise comes after four months of falling prices. The last increase, of 1 per cent, occurred in November..


The Times
THU 04 JUN 1992
House prices rise 0.4%
House prices rose by 0.4 per cent last month, the Halifax building society said. Earlier this week, the Nationwide recorded a 0.6 per cent rise

The Times
FRI 10 JUL 1992
House prices edge up
House prices rose 0.7 per cent last month, the Halifax building society said.

wibble68_2

kinesin wrote:

To put current moneylenders opinions and statistic into perspective, please review the historical articles below and consider what was really happening at the time.

It's very spooky when old articles are dug up.

Why don't the Halifax reprint the articles from the early 90's to save themselves the effort.

Change the record Halifax it's getting boring.

meanmachine_2

If this is a sustained upswing then I guess I'll have to concede victory to the EAs, the lenders and all the other vile people involved in the property business.

If it's a blip, then I guess it suggests flat or weak prices.

Why is the Halifax index so erratic? And why is it so out of step with the others?

However, looking at the old articles, they did report drops as well as apparent rises, so I can't just reject it out of hand when it gives me an "up" report then embrace it when it turns negative.

Well I could, but I'd be hypocritical.

Rave

Nobody else seems to be as optimistic as the Halifax as far as I can see. Nonetheless it's not at all unusual for a falling market to have several temporary rallies, and I see no reason why this isn't just another one of those.

nelly_2

Isnt Halifax the biggest BS, and if so then they alone will see more lost revenue than anyone in a price collapse.

Woby_Tide

Halifax = Bank = Shareholders = Keep them happy at all costs...!

meanmachine_2

Woby_Tide wrote:

Halifax = Bank = Shareholders = Keep them happy at all costs...!

Was the Halifax a bank during the late 80s?

And is the Nationwide still a building society, or did they sell up?

Either way, the Halifax really do deserve the suffix BS.