Friday, Jan 05, 2007
Is the 1% fall a surprise? Or well timed?
Firstrung: Halifax stun market showing one percent fall in house prices in December 2006
Yeah but no but..."The number of people in employment continues to rise with a 216,000 increase over the past year to a record 29.0 million in the three months to October, according to the ONS. The number of people in full-time employment, however, fell by 93,000 between the three months to July and the following quarter, suggesting a possible weakening in labour market conditions."...and readers wonder why some don't tae these surveys seriously..
Posted by converted lurker @ 10:52 AM (154 views) Add Comment
8 Comments
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1. the bald man said...
The economy is only healthy if consumers keep borrowing. When the borrowing stopd we all fall off the roundabout!
2. David20040_0 said...
1% is nothing it did this last year, if we get a 2% drop then I'll start believing it.
3. magnifico said...
Call me suspicious, but I get the feeling that for the VIs it's much better ( in an assumed stagnant market) to come out with a high price drop figure at this time of year ( Xmas hangovers and worrying about bills putting off thoughts of moving or investing) to justify lots of headlines of small price rises, over the coming months. Does anybody remember those 0.1% increases last spring?
Uncle Tom and Ticktocktheredclock where are you?
4. monty said...
You're suspicious. Look at anyone's unadjusted figures and you'll see that there is a regular drop in both prices and volumes of house sales over this period.
5. p. doff said...
I wouldn't set too much store by this headline. Nationwide or some other lender will probably issue contradicting stats 'tomorrow'. Anyway, December's data is likely to be 'off' due to the traditional Christmas quiet period. Also HBOS figures may be adrift as their mortgage products are not particularly competetive at the moment, and they are doing less business as a consequence.
6. Mond said...
Does anyone really think the crash is still on? I'd been hoping for it since 2002/3, but I've left the country now and don't really care.
TBH, looking at house prices in some places the UK seems kinda reasonable. It's just the mortgage and tax rules that make it hard to get somewhere decent at a reasonable price.
7. Ticktock said...
Magnifico,
I'm still here, although most of my comments don't seem to make it to the board these days. I think the debate might be a bit more 'controlled' than it used to be ?
The site seems to be more for people 'shorting' the housing market and hoping the sky falls in than for those enraged that they are being denied the right to a family home by capitalist speculation.
I still read the blogs, but like I say, my comments rarely get through. Funny that.
Ticktock (the red clock)
8. magnifico said...
Good to hear from you Ticktock, I see your latest post has been published ( jan 9th.