rantnrave

BBC: UK housing market experiences new year chill https://www.bbc.co.uk/news/business-47155720

Non Seasonally Adjusted is already negative YoY https://static.halifax.co.uk/assets/pdf/mortgages/pdf/UK-historical-data-13-months.pdf

I think they compare the current quarter with the quarter beginning 15 months ago - or it might be Nationwide that does this.

Full report: https://static.halifax.co.uk/assets/pdf/mortgages/pdf/January-2019-Halifax-House-Price-Index.pdf YOY Down to +0.8%

MINUS 2.9% GET IN THERE

Here's hoping for a big fall to offset last month's whopping 2.2% rise.

Good start to the week... Presumably one landlord selling up = more than one property coming to market too. Landlords leaving market ‘in droves’ with exodus intensifying in capital https://www.propertyindustryeye.com/landlords-leaving-market-in-droves-with-exodus-intensifying-in-capital/ Landlords in London are leaving the market “in droves”, ARLA has said. The trade body said that in December, its lettings branch members reported an average of six landlords selling up and quitting the market. The number compared to a national average of four, and was double the number of landlords selling up in the north-east, midlands, east of England and south-west. In each of those regions, agents reported three landlords selling up. ARLA Propertymark chief executive David Cox said: “Over the last few years, landlords across the country have been pushed out of the market by increasing costs and legislation, and new investors have been deterred from entering. “The issue has particularly intensified in the capital, which may be the result of landlords starting to receive their first tax bill incorporating the increase in taxes from the mortgage interest relief changes which came into force last tax year. “If this trend continues, coupled with the Mayor of London, Sadiq Khan’s recent pledge to introduce rent controls, it will only serve to make the situation worse for London’s renters as more landlords are forced to sell up. “As the supply of rental accommodation falls further, tenants will face more competition for properties, which will push up rents on good-quality, well-managed properties, and leave the vulnerable and low-income people which rent controls are designed to help, in the hands of rogue and criminal operators.” A total of 364 ARLA agents were questioned last month, of whom 60 are in London.

Not sure it balances out. I've had to turn away good career progression options because the companies offering that were in mentally expensive places to live.

Have decided to be much more upfront about this in my dealings with potential new employers. Looked at a vacancy in Brighton, which had no advertised salary. Contacted them, and when they replied with the figure, I told them that amount was nowhere near enough for me to consider moving to the area given the very high cost of local housing. Another employer I've had my eye on out in Suffolk was also recruiting recently. The advert said that the organisation was in the process of expanding and was therefore splitting the team into two office locations. The areas they had chosen to relocate to were Cambridge and London. Dropped them an email and said that because of the high housing costs in these two locations, I would not be putting in an application. We've also just lost a very skilled 31 year-old who was, behind-the-scenes, being looked at for significant advancement. He announced one day that he was moving a hundred miles away to take a job that meant he could live back at home and save money. "There's no way I can ever afford to buy a house if I stay," he said on the way out. One very, very miffed CEO (Boomer) who never saw that coming.

Worries over housing spread to the boardrooms of British businesses https://www.propertyindustryeye.com/worries-over-housing-spread-to-the-boardrooms-of-british-businesses/ Three-quarters of business leaders believe that the housing market is having a negative impact. Over half (55%) say that they have lost staff because employees either cannot afford to live in the area or are unwilling to commute. Almost three-quarters (73%) of the 1,000 executives and business owners polled by Strutt & Parker say they are struggling to recruit because of local high housing costs. The same number would consider relocating to a cheaper area. Others (71%) would consider investing in housing for their staff, and some are already actively doing so. The businesses say that the cost of housing has had three major effects on them – it has forced them to pay higher wages, resulted in a lack of skilled workers, and slowed their expansion. Strutt & Parker also found that housing costs are a deciding factor when it comes to employees deciding whether or not to accept a new job, with 85% saying that it is a critical issue. PS - The comment at the bottom of the article is laughable

Yes, although at the end of each quarter there is usually a longer version

Link to full report: https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2019/Jan_2019.pdf

Annual growth slows to 0.1%

Up 0.3% monthly

Good spot. Got ahead of myself there confusing the end of the month with the end of the week. Now corrected.