Friday, Dec 28, 2007
Seems a little conservative to me...
Nationwide: House prices fall by 0.5% in December
Main points:-
''House prices fell by 0.5% in December, the second consecutive monthly decline'' ''The average price of a UK property is £8,334 higher than a year ago''.....and here is the really interesting bit ''Rate cuts will help but are unlikely to re-ignite the housing market as in 2005''
Posted by hpwatcher @ 07:32 AM (671 views) Add Comment
7 Comments
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1. inbreda said...
" the second consecutive monthly decline''
Is it only the second? Seems like the fourth to me. Oh well, seems I got my "sell" in place against house prices on IGIndex at just the right time.
2. Orwell said...
Yes I thought it was the fourth!
I know it was 0.3% in October and November wasn't it?
3. Jacobite said...
the B.O.E. rate cuts are not intended to assist people with morgages they are to assist the banks with liquidity the spin is it is to help people I think Gordenrons stratagey is to inflate our way out of trouble ie. devaluation of the pound its happening now.
4. Realist said...
Funny how the figures from Halifax and Nationwide keep falling month by month but their 0% HPI forecast for 2008 remains in place. Must be some upswing Fifi is expecting in the latter part of next year. Very rigourous methodology no doubt!
5. Papabear said...
But, but, but... how can house prices ever FALL? I thought they could only ever go up! Kirsty, Phil, Sarah et al, can you explain? What happened to supply/demand, immigrants, divorcees, the popluation of the UK to hit 100mil this spring, etc.?
6. enuii said...
Watched Fionnuala Earley struggle to keep her face straight on the ITN News as she explained that although house prices fell in December they are still up 4.8% annually and that builders were building the wrong houses, the demographics are good and pent up demand is still in the system from people who want to set up home.
In conclusion Fionnula and the Nationwide reckon that house prices will be the same as they are now this time next year because interest rates are going to drop 2-3 times in 2008!
Somehow I think that there is an awful lot of wishful thinking being bandied around at the moment, but it's officially bad news for BTL capital gains and Mewing for the duration of 2008.
7. Afrobaggie said...
House prices have gone up 4.8% over the past year.
My bank account has given me over 6%!
Is property still a good investment?