Friday, May 07, 2010
Halifax latest release
BBC: House prices up 6.6% in past year, the Halifax says
House prices have gone up by 6.6% in the past year, according to the latest Halifax house price survey. Although this was the fastest annual rate of increase since October 2007, the mortgage lender stressed that the trend in recent months has been for prices to slow down. Prices fell slightly in April by 0.1%, taking the cost of the average UK home to £168,202. The Halifax predicted that prices would be flat over the course of 2010.
Posted by jack c @ 09:23 AM (1299 views) Add Comment
17 Comments
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1. wdbeast said...
Prices were actually 0.1% down last month and the Halifax are forecasting falls for the remaider of the year.
So the headline should read;
"House prices fall by 0.1% in April, but worse to come, warns Halifax"
There now, that's better. Maybe I should apply to be part of the BBC's coalition of headline writers.
2. doomwatch said...
Fook Ellitot Wave mumbo jumbo, a fool could see [except Kirtsy] it's on the turn again...
"The ratio of completed sales to stock fell for the fourth successive month in March - to the lowest since July 2009 - indicating a loosening in market conditions. (Source: RICS monthly survey, March 2010.)"
Come on Vince, let's get that mansion tax rushed through.
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4. techieman said...
"Fook Ellitot Wave mumbo jumbo" - ok ive bitten!! :-).
Wash yr mouth out doomwatch!! And its Elliott - aha "a fool could see its on the turn again".... hmmm but isnt it more interesting to try to work out when its going to turn ahead of time? Maybe "after the election" works for that too.
EW is a roadmap - now during the time of use there may be new roads or others closed, but it also depends on the abilities of the map reader. For example (generally) never let a woman do the map reading! Maybe there will be a upgrade "Tom Tom" who knows, but im yet to see one meself!
5. phdinbubbles said...
LOL
The 'house prices to fall after election' prophecy comes true.
6. mark wadsworth said...
Ah well.
We've had "rush to beat Stamp Duty" and "bad weather in February" and "ash cloud" articles a-plenty, I'm now looking forward to lots of tedious "it's the hung parliament" articles explaining how it's temporarily affecting the "underlying strength of the housing market" (a bit like snow and ice masking the "underlying warming trend")
7. letthemfall said...
The way gilts and the pound are looking, the temporary effect may turn out to be quite prolonged. A good result for us here? Doesn't look like Vince will get his mansion tax though - pity - but we shall see.
8. doomwatch said...
The Tories need the Lib Dems to form a majority. Can't see Vince agreeing to this as the mansion tax and
CGT reform are right against the Tory policy. From the debates, it appeared to me that Vince can't stand George
and the 3% of the country George wants to protect.
9. rumble said...
Techie, that comment looks as though you're about to start talking about resonance.
10. techieman said...
hey Rumble :-). - well i assume you saw the £/ $ overnight. In case not it got down to 1.4475 and bounced to 1.47ish where it is now. Does that resonate with what i think i suggested the other day? (to be fair though at that time it was about 1.50ish so i thought we would stay around there before the falls yesterday which themselves were before the falls on the "hung" [non] news and the bounce back.
the 1.4475 could have got a bit lower, but this looks like we are near the end before a temporary bounce back... like we have seen this am in the Euro.
11. Basil Bell said...
@WDBEAST. 0.1% !!!! You really are hanging onto every small whiff of negativity. 6.6% up in the year. Can anyone remind me what HPC prediction was?
12. techieman said...
BB the answer is various.... But we have only had the first leg... that is the point, the fat lady got a cold but has now had her TCP and is doing her scales stage left!
13. need-a-crash said...
So once again FTSE down, Dow down, GBP down, Parliament down but House Prices Up!! You just couldn't make it up could you.
14. wdbeast said...
Basil Bell - My comment was really directed at the way the BBC spin anything to do with house prices into a positive rather than just reporting the facts.
You refer to HPC forecasts, I for one thought the market would show double digit decreases this year and so far I am very wrong, but there are still another 8 months of the year to go.
I still think interest rates hold the key. What do you think?
15. nickb said...
@Mark
Except that there IS an underlying warmign trend, and there is NOT underlying strength in the housing market.
N
16. smugdog said...
Even if David gets a run with Nick on various PR discussions,
Can we really see interest rates rising by much in the next few years?
This so soon would project the Blues into exile for the next 15 or so years.
One chance, can he, will he, must he blow it (hands tied)?
Sleep...............
17. Basil Bell said...
Mortgage rates are more significant than the BOE interset rates. At the moment leanding rates dont reflect the BOE interst rates. So no I dont think interst rates are the key. The key is the media they are the only ones that can talk the market up or down.
In the next two years Banks will have balanced (as best they can) their books because at the moment the are all making huge margins on very safe squeeky clean loans. Then they will be hungry to lend in bigger numbers again and be more competative with thier lending rates, and yes by this time I expect the BOE rate to be 3% but high street lending rates will be similar to today but with less deposit required.
Please dont get me wrong, I am not looking for a huge rise in prices, I own (mortgaged) one property that I live in with my family. What I object to about this site is the doom mongering and suggesting that if prices fall 40 - 50% is a good thing. It is not Just look at the termoil in the economy after 10 - 15% drops. I can only guess that most of you are wishfull thinking cash rich vultures.
And your predicition have never (since 2004) been anywhere near correct!!!