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    • Former MSE Helen
    • By Former MSE Helen 1st Nov 11, 10:10 AM
    • 2,324Posts
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    Former MSE Helen
    MSE News: Property market 'treading water' says Nationwide
    • #1
    • 1st Nov 11, 10:10 AM
    MSE News: Property market 'treading water' says Nationwide 1st Nov 11 at 10:10 AM
    This is the discussion thread for the following MSE News Story:

    "Nationwide warns today that the housing market remains "subdued" despite prices rising by 0.4% last month ..."

    Read the full story:

    Property market 'treading water' says Nationwide





    This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

Page 1
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 1st Nov 11, 10:31 AM
    • 26,457 Posts
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    HAMISH_MCTAVISH
    • #2
    • 1st Nov 11, 10:31 AM
    • #2
    • 1st Nov 11, 10:31 AM
    Prices now rising over the last 12 months, at a rate of +0.8% Year on Year.

    With the average mortgage rate at 3.5%, and the average rent at 5.5%, the average buyer is 2.8% of the value of a house better off than the average renter over the last year.

    Around £4600 for the average house. More like £10,000 in the South East.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
    • brit1234
    • By brit1234 1st Nov 11, 11:22 AM
    • 5,191 Posts
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    brit1234
    • #3
    • 1st Nov 11, 11:22 AM
    • #3
    • 1st Nov 11, 11:22 AM
    House prices will still continue to fall. The genral trend with the Halifax, Nationwide and Land Registry are down. Once in a while due to the very low transactions prices in one of the three will show an increase but that doesn't mean prices are rising, infact this nationwide figure is a fall but seasonally adjusted upwards from negative to positive.



    After all who here does not think house prices are not over valued? Interest rates have been slashed to nothing to slow the speed of the falls.
    Scams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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    • Dan:
    • By Dan: 1st Nov 11, 11:29 AM
    • 3,580 Posts
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    Dan:
    • #4
    • 1st Nov 11, 11:29 AM
    • #4
    • 1st Nov 11, 11:29 AM
    House prices will still continue to fall. The genral trend with the Halifax, Nationwide and Land Registry are down. Once in a while due to the very low transactions prices in one of the three will show an increase but that doesn't mean prices are rising, infact this nationwide figure is a fall but seasonally adjusted upwards from negative to positive.



    After all who here does not think house prices are not over valued? Interest rates have been slashed to nothing to slow the speed of the falls.
    Originally posted by brit1234
    You need to update your sig in light of todays Nationwide figures released:

    http://www.nationwide.co.uk/hpi/historical/Oct_2011.pdf

    • grumbler
    • By grumbler 1st Nov 11, 12:55 PM
    • 51,740 Posts
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    grumbler
    • #5
    • 1st Nov 11, 12:55 PM
    • #5
    • 1st Nov 11, 12:55 PM
    Robert Gardner, Nationwide's chief economist, says the data is encouraging
    Encouraging for whom? For the banks and those who want to downsize?
    Howard Archer, chief UK economist at IHS Global Insight, says ...
    "House prices are likely to fall by around 5% from current levels by mid-2012..."
    Thank God!
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
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  • A.L.D.A
    • #6
    • 1st Nov 11, 2:01 PM
    • #6
    • 1st Nov 11, 2:01 PM
    SO much now depends on how the Euro zone.

    I do not see much happening one way or the other going into next year. Mortgage availability restricted, unemployment is rising, real disposable income falling, but inflation is likely to decrease as we go into next year, and rental return is increasing. It has the feel of a market that is bottoming out unless something disastrous happens Eurozone!!).

    I would be concern with the number of units of accommodation being built. Year on year quite low and with a population that is growing and houses that need to be replaced as they become too expensive to fix. Could lead to eventual shortages.

    The economy needs growth.
    Less is more. No less is Less.
    • anselld
    • By anselld 1st Nov 11, 2:41 PM
    • 6,431 Posts
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    anselld
    • #7
    • 1st Nov 11, 2:41 PM
    • #7
    • 1st Nov 11, 2:41 PM
    infact this nationwide figure is a fall but seasonally adjusted upwards from negative to positive.
    Originally posted by brit1234
    Not true. The 0.8% rise is a year-on-year rise in the avereage price. You cannot seasonally adjust a year-on-year figure anyway!
  • Turnbull2000
    • #8
    • 1st Nov 11, 2:42 PM
    • #8
    • 1st Nov 11, 2:42 PM
    House price stability, ultra-low mortgage rates and rising rents. I'm sure many people will be very happy with that.
    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
    • grumbler
    • By grumbler 1st Nov 11, 2:50 PM
    • 51,740 Posts
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    grumbler
    • #9
    • 1st Nov 11, 2:50 PM
    • #9
    • 1st Nov 11, 2:50 PM
    The economy needs growth.
    Originally posted by A.L.D.A
    IMO, it's a myth invented by politicians. They borrow too much and can rely only on growth to service the debt.
    Small growth probably is not bad, but it cannot be the base element of the entire economical and political system that comes into halt when growth stops.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • saverbuyer
    • By saverbuyer 1st Nov 11, 2:53 PM
    • 2,483 Posts
    • 1,425 Thanks
    saverbuyer
    SO much now depends on how the Euro zone.

    I do not see much happening one way or the other going into next year. Mortgage availability restricted, unemployment is rising, real disposable income falling, but inflation is likely to decrease as we go into next year, and rental return is increasing. It has the feel of a market that is bottoming out unless something disastrous happens Eurozone!!).

    I would be concern with the number of units of accommodation being built. Year on year quite low and with a population that is growing and houses that need to be replaced as they become too expensive to fix. Could lead to eventual shortages.

    The economy needs growth.
    Originally posted by A.L.D.A

    I hope you're not talking about Northern Ireland, ALDA because there is nothing to suggest NI is bottoming out or any of the other things you said. Population growth???? I can only assume your comments are exclusively about England. Nationwide have a 6% share of the NI market and have reported 10% falls there, in this year alone. Still firmly in super crash territory. There is nothing at all to suggest prices will stabilise in NI anytime soon.
    • HAMISH_MCTAVISH
    • By HAMISH_MCTAVISH 1st Nov 11, 6:35 PM
    • 26,457 Posts
    • 60,775 Thanks
    HAMISH_MCTAVISH
    House prices will still continue to fall.
    Originally posted by brit1234
    House prices have not been falling in most areas for a while now Brit.

    Just 35% of local areas are seeing falls according to RICS.

    The genral trend with the Halifax, Nationwide and Land Registry are down.
    False.

    The general trend is stagnation.

    seasonally adjusted upwards from negative to positive..
    The year on year figure is not seasonally adjusted.

    It's just 0.8% higher than it was a year ago.

    Oh, and you need to change your sig.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • nollag2006
    House prices will still continue to fall.
    Originally posted by brit1234
    Now, now Brit.

    Your predictive track record isn't so strong is it. Remember in early 2009 when you called for a 50% house price crash by Christmas of that year.

    How did that work out for you? Are you still hanging on in there waiting for Santa?



    After all who here does not think house prices are not over valued?
    Originally posted by brit1234
    Very very many people. Wait for the banks to stop the mortgage rationing and house prices in Q4 2011 will suddenly start to look very cheap indeed (in the same way they were cheap in early 2009 - when I bought)
  • timmyt
    try telling Nottingham movers who are manic
    My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.

    My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.
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