Thursday, Apr 29, 2010
+1.0% MoM +10.5% YoY
Nationwide: April HP Index
Commenting on the figures Martin Gahbauer,
Nationwide's Chief Economist, said: “The price of a typical UK property rose by a
seasonally adjusted 1.0% month-on-month (m/m) in
April, leaving house prices 10.5% higher than a year
earlier. Over the lifetime of the last Parliament (May
2005 to April 2010), house prices have risen by 6.7%.
This compares to a 13.5% increase in the consumer
price index, the official target measure of inflation"
Posted by phdinbubbles @ 07:13 AM (1192 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. dill said...
Meanwhile, on the other side of the Election, a somewhat plumptious Diva is warming up her vocal chords!
2. luckyjim said...
I had to check that quote that phd picked out -
Average price in May 2005 - 157 272
Average price in Apr 2010 - 167 802
So the figure is correct - house prices have risen only 6.7% over the five years of the parliament and are therefore down in real terms.
3. dill said...
@2
Further to your post, there's no point in using CPI, as Gahbauer does, as it doesn't include housing costs. So refering to RPI:
Index figure (May 2005) = 192.0
Index figure (Mar 2010) = 220.7 which is the most recent.
RPI inflation over the period = 14.95%
Very clearly down in real terms.
4. brickormortis said...
What the people of this country are not learning is the lesson that bricks and mortar are not a one way bet and until they do, the future of this country is going to be very bleak. With every article reporting house price rises against the biggest financial f**k-up of all time, the sheeple might be forgiven for believing they have found a money tree. To them, we are just having a year of the lean cow and then back to double digit growth forever.
I say quite seriously that there are millions of individuals waiting to pile into property if only someone would lend them the money. There are very few people, relatively, who see the ridiculousness of the situation and it really worries me.
Why are the British so arrogant that they believe there super-status as an economy will remain unchallenged forever?
5. luckyjim said...
brickormortis
You remind me of a boy I went to school with. On a trip to France he got seperated from the rest of us. He went into a police station and reported 23 children an one adult as missing.
6. amjidk said...
lol @luckjim, that's hilarious...
7. need-a-crash said...
I'm starting to give up on the idea of a big crash.
As the stats @2. show prices are falling in real terms but just not in nominal terms. I've been saving hard since 2006 and as there's been 0% hpi since 2007, property is starting to look more affordable. Looking ahead, perhaps the most likely forecast is the "flatline" we all derided, as prices remain static in nominal terms but continue to fall in real terms as inflation picks up?
8. mrflibble said...
@4. brickormortis...
The love affair with a pile of bricks is very strong in Britain, so much so that our own government has taken us the the brink of bankruptcy to maintain it.