Tuesday, Mar 30, 2010
House prices still aloof from wider economy
Nationwide: House Price Index
The price of a typical UK property rose by a seasonally adjusted 0.7% month-on-month (m/m) in March, largely reversing the 0.8% m/m fall measured in February. The smoother three month on three month rate of inflation edged down further from 1.8% in February to 1.6% in March. At £164,519, the average price of a typical property is 9.0% higher than a year earlier.
Posted by quiet guy @ 08:36 AM (1718 views) Add Comment
13 Comments
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1. smugdog said...
Lighter evenings with a delicate freshness in the air. Spring has definitely sprung.
2. Analysis said...
A bit misleading - seasonally corrected prices dropped by 1.0% in their February report on a seasonally adjusted basis. So I assume they are not comparing like with like here?
3. happy mondays said...
Come'on smugdog you are'nt that Gullible! But i like your pos attitude with spring..Goooood Moooorning World ...
4. mrflibble said...
I'm starting to wish I'd taken the Blue Pill...
5. doomwatch said...
3 MoM down bubble. Prepare to dive.
6. estrader said...
Wow, it's just good news after good news after good news... UK GDP up again... house prices up again! The UK economy is booming. Quick, buy a house...no...3...no...9 houses...vote labour and you will make millions!
7. happy mondays said...
No mrflibble, you were right to take the red pill, it just hurts from time - time..No going back now !
8. wdbeast said...
I keep speaking to friends who are desperate to get into the housing market as they see this is "the last big chance before prices go up again", and "with mortgage rates so low, now is the time".
I wonder when the last poor gullible sod will buy a house before the "great awakening".
9. mark wadsworth said...
A game of two halves.
On an inflation adjusted basis, Nationwide's average house price is below the level of six years ago, not adjusted for inflation it's below the level of four years ago. Stats here.
Anyways, we just extended our rental agreement until June 2011 (at same rent as originally agreed June 2008), so we're sitting this one out, thank you.
10. wdbeast said...
Why are the BBC reporting with the headline;
"House price rises slow slightly, Nationwide says"
They then go on to say;
"Prices across the UK rose by 0.7% in the month, taking the cost of the average UK home to £164,519."
Very unlike the BBC.
11. hpsceptic said...
As renters looking to trade up, we observe the many temporary landlords waiting for house prices to go up (so they can sell out).
Roll on, "great awakening" !!
12. hpsceptic said...
The above comment is a fair explanation as to why there is so little supply at present.
13. Property Babe said...
"Quick, buy a house...no...3...no...9 houses...vote labour and you will make millions!"
Actually, I DID buy three houses. This time last year. I haven't made millions though. Just 150k or so.