buytoilet

Nationwide Hpi M/m -1.0%

89 posts in this topic

The BBC are using the F word. :o

BBC: House prices fell 1% in March, says Nationwide

House prices were pushed lower than a year ago for the first time in six months after prices fell by 1% in March, the Nationwide said.

The price of an average home was down 0.9% compared with a year earlier, at £163,327, the building society said.

This was the biggest annual fall since June 2011.

Nationwide said that the slowdown was to be expected owing to changes in stamp duty rules creating a "headwind" in an already difficult environment.

"In our view the challenging economic backdrop is likely to continue to act as a drag, with house prices moving sideways :rolleyes: or modestly lower over the next 12 months," said Robert Gardner, Nationwide's chief economist.

First-time buyers must now join others in paying at least 1% tax on properties worth more than £125,000, after a two-year "stamp duty holiday" came to an end on Saturday.

Meanwhile, Chancellor George Osborne announced a new 7% stamp duty threshold on properties sold for more than £2m in his Budget.

The Nationwide figures, based on the lender's own mortgage data, also suggested that prices dipped in all but three regions of the UK in the first three months of the year compared with the previous quarter.

The only rises were seen in the North of England, Scotland, and Greater London.

1% down? In a month? In spring? :lol:

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Actually up 0.4%, but seasonally adjusted down...

Although everyone on here abuses SA figures they are very important as without them all indicies would be totally meaningless rising and falling with the seasons and giving no perspective. Like rightmove.

It does have to be done properly though.

Loving the -1% Stamp duty holiday well and truly over. Let's hope the trend continues!

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Nationwide HPI - Graph

March 2001 = £85,077

March 2002 = £96,692

March 2003 = £122,180

March 2004 = £142,584

March 2005 = £153,876

March 2006 = £163,327

...

March 2012 = £162,083

Still some way to go but at least we're heading back in the right direction. ;)

When's the next round of printy printy? <_<

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Nationwide said that the slowdown was to be expected owing to changes in stamp duty rules creating a "headwind" in an already difficult environment.

Surely this is to be expected after the change not before it so this 1% drop was NOT to be expected.

At last, after all the props have ceased to work, it's..... Timber! :)

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Life support is being slowly withdrawn from the economy's brain dead Siamese twin following extensive surgery, and vital signs are weakening. Not long now .......

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Surely this is to be expected after the change not before it so this 1% drop was NOT to be expected.

This is kind of after the change: it's for mortgages taken out in March. If you're trying to complete before 24 March you've really got to take your mortgage out in February surely?

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Nationwide HPI - Graph

March 2006 = £163,327

...

March 2012 = £162,083

Still some way to go but at least we're heading back in the right direction. ;)

When's the next round of printy printy? <_<

Forex displayed a prediction of a 0.3% rise. Slightly out then.

2006 comparison works for me. I've seen a 2 bed house near me for sale since mid Jan at £10k LESS than the £149k paid for it in Dec 2006. Another, although smaller 2 bed is being marketed at £4k more than the £123,750 it sold for in June 2005.

Still keeping powder dry and in self-control, at the moment.

Edited by deflation

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Last month revised down from 0.6 to 0.4 to. A good day :)

Don't want to hijack the thread, but could someone in simple terms describe how revising down works?

What's to stop a VI organisation publishing a headline grabbing figure only to quitely revise it down later ?

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The nationwide numbers are way off track,. their customer base is middle class egyts with big deposits/equity who have been paying out too much for houses. The nationwide will at some point have to catch up with the halifax and land registry.

We should expect big falls from the nationwide.

Any big increases would just further widen the reality gap.

I feel sorry for all those people who have chucked their deposits away....hey, no I dont :lol:

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Don't want to hijack the thread, but could someone in simple terms describe how revising down works?

What's to stop a VI organisation publishing a headline grabbing figure only to quitely revise it down later ?

I think you've just answered your own question.

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1% is more than my rent+ council tax.

That's the sort of message I am pissing everyone off with today.

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Life support is being slowly withdrawn from the economy's brain dead Siamese twin following extensive surgery, and vital signs are weakening. Not long now .......

Especially combined with a 1.2% drop in disposable income on average as reported in the Wail

http://www.dailymail.co.uk/news/article-2121906/Family-incomes-worst-fall-1977-average-disposable-income-drops-1-2.html

And I think that's on the low side.

The cracks are starting to show...

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Must be galling for those who thought they'd saved themselves 1% by beating the deadline.

The fall is seasonally adjusted only - prices actually rose 0.4%, so purchasers would have saved 1.4% buying before the deadline (plus the 1% on the 0.4%).

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