Nationwide. 29 May 2008. -2.5 (month) -4.4 (year)

PasturesNew

http://www.nationwide.co.uk/hpi/review.htm
http://www.nationwide.co.uk/hpi/historical/May_2008.pdf

Discuss.

PasturesNew

Their opening paragraph is:

The pace of house price falls accelerated in May as more weak economic news added to the gathering momentum of negative sentiment about the housing market.

House prices fell by 2.5% during the month, the largest recorded monthly fall in the history of the Nationwide monthly index1.

At seven months, this is also the longest consecutive period of monthly falls since 1992.

Prices have fallen 4.4% since this time last year, the biggest annual fall in house prices since December 1992 when prices were falling at an annual rate of 6.3%.

The price of a typical house is now £173,583, £8,000 less than this time last year.

However, the strength of house price growth up until last year means that prices are still 5% higher than two years ago and 10% higher than
three years ago.

PasturesNew

Remember: Lower house prices is a GOOD thing.

stonethrower

Never taught they would drop this fast had to laugh they still had to try look on the bright side

Prices are 4.4% lower than this time last year, but remain 5% higher than 2 years ago

neas

sweet satisfaction . I'd love to see how mr broderick spins this one :P.

carolt

Anyone got the 'real' figures rather than just rolling 3 monthly figures they use? I seem to recall last month's 'real' figure was actually 4.something % fall - so interested to see how the undoctored figures look.

On their press release, highest figures at peak were £184,723 in Sept 07 - now they're 173,583. Seems like more than 4.4% to me - anyone handy with a calculator for quick peak-present falls?

Gien that the houses I'm looking at cost just a shade under double that at peak, that's a fall of 22 grand in 8 months - a reasonable start....

mitchaa

Peak October 2007 @ £186,044
June 2008, 8 months later @ £173,583

-£12,500 in 7 months or a 6.7% ''crash'' at the moment.

I cant help but think London is a massive governing factor when working out these figures just the same way it does when the national average wage is claimed to be £25k.

If London is dropping, its a sure certainty that the whole of the UK is dropping:rolleyes: According to the other nationwide PDF, there are hardly any areas in the UK that have negative YOY, but yet nationwide tell us its a nationwide figure

http://www.nationwide.co.uk/hpi/historical/q1_2008.pdf

Look at page 3/7/8/9/10 and 11. (Page 9/10 and 11 in particular)

Most areas are positive YOY, but yet the same company say that the country as a whole is negative. Confused.....Yes

PasturesNew

mitchaa wrote: »

http://www.nationwide.co.uk/hpi/historical/q1_2008.pdf

Look at page 3/7/8/9/10 and 11. (Page 9/10 and 11 in particular)

Most areas are positive YOY, but yet the same company say that the country as a whole is negative. Confused.....Yes

Why bring the 1st Quarter figures into the subject?
That was then.
This is now.

And that is a different report entirely.

??

mitchaa

PasturesNew wrote: »

Why bring the 1st Quarter figures into the subject?
That was then.
This is now.

And that is a different report entirely.

??

Same company using the same figures. That report was dated April 08, which nationwide IIRC 1st showed us -ve YOY. Reading those pages in particular i cannot see how they came to that conclusion as most areas were still well in the positive.

When they have the 1/4 figures for April/May and June, so will be released middle July, it will be interesting to see how much they have changed from my linked pdf above.

Pasturesnew....If there was 1 person on MSE that i could have thought of last night getting up at the crack of dawn to search for the nationwides latest release MOM figures report, it would have been you:rotfl:

You seem to have a real fascination with house prices, dont you live in council/HA housing? Not quite sure why the market interests you so much, it seems to take up your entire life

Houses dropping is a good thing, it means for me to step upto a 5bed, it wont cost me £75k, it will now only cost me £50k.

I just think some of you guys are letting HPC facts and figures take over your lifes:eek:

poppy10_2

PasturesNew wrote: »

Discuss.

Holy Scheiße! :eek:

carolt

mitchaa wrote: »

Same company using the same figures. That report was dated April 08, which nationwide IIRC 1st showed us -ve YOY. Reading those pages in particular i cannot see how they came to that conclusion as most areas were still well in the positive.

When they have the 1/4 figures for April/May and June, so will be released middle July, it will be interesting to see how much they have changed from my linked pdf above.

Pasturesnew....If there was 1 person on MSE that i could have thought of last night getting up at the crack of dawn to search for the nationwides MOM figures report, it would have been you:rotfl:

You seem to have a real fascination with houseprices, dont you live in council/HA housing? Not quite sure why the market interests you so much, it seems to take up your entire life

Houses dropping are a good thing, it means for me to step upto a 5bed, it wont cost me £75k, it will now only cost me £50k.

I just think some of you guys are letting HPC facts and figures take over your lifes:eek:

So why are you so bothered then?

Can't think why you're responding on house price threads at 8am if it's a matter of no importance to you?

Pasturesnew is a well-known STR, that's why she cares. But to fair, she posts plenty elsewhere too - you don't strike me as a very Old Style kind of guy somehow, though...?! Maybe I'm wrong, and you were just up early on mse to check the recipe for your new scones.....