Thursday, Apr 02, 2009
Nationwide HPI bounces up a little....
BBC News: 'Surprise bounce' in house prices
House prices rose in March for the first time since October 2007, according to the Nationwide. The building society said that property prices increased by 0.9% compared with the previous month. That reduced the annual rate of house price falls from 17.6% in February to 15.7% in March, with the average UK home costing £150,946.
Posted by beachbum @ 07:07 AM (550 views) Add Comment
3 Comments
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1. timmy t said...
I bought a flymo about 3 years ago for about 60 quid. I bought a petrol lawnmower last week for about 300 quid. Does that mean lawnmower prices are rising by 125% a year? No.
Similarly, a few years ago lots of people were buying the cheapest houses on the market so they could get on the housing ladder. This meant that the average price of houses changing hands was relatively low. Today, nobody is interested in getting on the ladder so far fewer cheap houses are selling. This means that the average price of houses changing hands becomes higher. Does that mean that house prices are rising? No.
2. paul said...
This is desperate. I love the way the BBC tries to suggestively spin the news:
"Nationwide described the change as a "surprise bounce" and warned against concluding the market had turned."
BBC: Signs of recovery?
BBC: The rise in mortgage approvals by all lenders - to 38,000 approvals in the month, up from 32,000 in January - is a good short-term indicator of actual lending and suggests this may now pick up.
BBC: Has your house increased in value? Has your mortgage been approved recently?
3. fubar said...
This coverage on Five Lie is insane. Journo said "is this a sign of baby steps back to recovery?"
Pundit "Oh no not baby-steps these are big steps toward recovery"
Journo "Ooooh I can't remember when I heard someone saying anything positive about houseprices..."
Five Lie at 13:54 Some bint sitting in for Simon Mayo.