Friday, Oct 30, 2009
+0.4% MoM +2.0% YoY
Nationwide: October Index
Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said:
“House prices rose for a sixth consecutive month in October, but the strong upward momentum in
property values seen over the summer is showing some signs of moderating as we head into the autumn
months. The price of a typical property was 0.4% higher on the month in October, compared to an
increase of 0.9% in September and 1.4% in both July and August."
Posted by phdinbubbles @ 07:24 AM (1038 views) Add Comment
9 Comments
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1. paul said...
Obviously Fionnuala Earley got the push then. Probably because nobody could say her name.
2. krustyatemyhamster said...
"Month-on-month prices were up for the sixth consecutive month in October, the Nationwide said, but it explained that a "more natural level of stock" for sale could be coming onto the market. "
Yeah, well let's see what's going to happen when everyone tries to sell at today's prices - let's see if normal volumes are supported by demand at this price. There's at least an entire year's worth of housing stock that would have been sold over the last two years if people hadn't delayed selling. Bring your houses to the market little children.
3. wally said...
There are some pretty measured comments in this. Had a look at the property section of the local rag that came yesterday, just a couple of pages of houses for sale, all the rest (75%) are for rentals. So locally at least - West Mids - we do seem to be on very low volumes.
4. 51ck-6-51x said...
Would love to see those expectations data in previous crashes ( & their dcbs ).
5. alan said...
"Given the poor labour market situation implied by the economy’s ongoing weakness, it is difficult to imagine the housing market returning to the buoyant levels of activity and price inflation that prevailed earlier in the decade".
OK - buyers have been warned. Buy a house to live in - not as an investment.
6. landofconfusion said...
Well it's good to see we're back to normality. ;-)
7. nomad said...
I agree with Wally on rentals - up hugely since we first started to rent in early 2008, probably x 10.
8. mountain goat said...
@6. landofconfusion
Yeah gives me a warm feeling inside...
9. Albertino Albertini said...
Apparently (from LinkedIn: http://www.linkedin.com/pub/fionnuala-earley/b/b44/b40) she was given the heave-ho in June.