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Valerius

Record Jump For Housing Construction

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Why does every post have to go on about your sig?

Saves Bruce from retyping the same thing over and over, especially with so many bulls about recently :rolleyes:

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Just to add some balance (article 1 month old)

http://www.telegraph.co.uk/finance/persona...-approvals.html

Benjamin Williamson, an economist at the Centre for Economics and Business Research, said: "House prices in 2010 are likely to be lower than in 2009. Lower lending levels and a weakening labour market means that house prices will almost certainly have further to fall.

"While some industry insiders are adamant that we have already seen the bottom of the housing market, we feel that these calls are slightly premature."

Howard Archer, an economist at Global Insight, said: "While evidence is mounting that housing market activity has passed its low point, current still very poor economic fundamentals and still relatively tight credit conditions suggest that the improvement in activity will be gradual and fitful for some time to come."

And he added: "Any substantial upturn remains well into the future. Consequently, house prices still look poised to fall for some time to come."

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http://www.telegraph.co.uk/finance/newsbys...nstruction.html

Data showed residential construction almost stopped declining in May and business expectations in the sector were the highest since August 2007.

Housing activity on the well-respected construction Purchasing Managers' Index (PMI) jumped by a record 14.8 points to 48.5 in May, from 33.7 in April. Although anything below 50 indicates a contraction, it was the highest level on the housing measure since November 2007 which was the last month before the sector started shrinking.

Another good piece of news for the UK economy showing the worst is behind us.

Wonder what the denialists will come up with... :rolleyes:

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House prices fell by the smallest monthly amount in almost a year in April, down by 0.3 per cent to an average of £152,898, according to official figures published on Monday.

The latest data from the Land Registry offers further evidence that the housing market has begun to stabilise and comes days after Nationwide published figures that showed the price of properties bought by its mortgage customers had risen by 1.2 per cent in May. Separate data from Hometrack, using valuations from surveyors, found that prices stayed the same last month.

Full story below.

http://www.timesonline.co.uk/tol/money/pro...icle6410554.ece

Bottom is here folks....Why not just accept it? :P

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like the title of your post says 'may have hit bottom'.

england might win the world cup next year but it doesn't mean anyone would want to take a big gamble on them winning.

don't know about hitting bottom, but all i can see is a real reduction in supply where i'm looking and can foresee a similar situation to last summer with nothing shifting, prices being cut etc....

clutching and straws

misterc.

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Rinoa usually posts this stuff, are you standing in for him this evening?

See below.

I thought Rinoa was a she for some reason. A lady bull :lol:

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Bottom is here folks....Why not just accept it? :P

Because, unlike you, the vast majority of us aren't estate agents.

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Record Jump For Housing Construction
Housing activity on the well-respected construction Purchasing Managers' Index (PMI) jumped by a record 14.8 points to 48.5 in May, from 33.7 in April. Although anything below 50 indicates a contraction, it was the highest level on the housing measure since November 2007 which was the last month before the sector started shrinking.

Sorry, but I think someone's going to need to explain this to me. How does an index that shows a fall in a level of activity indicate a jump in a level of activity?

If Jethro starts with ten toes in January, then loses three toes in each of February, March, and April, then only one toe in May, how many toes does Jethro have?

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Thats fantastic, soon we will have news stories like:

NHF warns of 40% house price increase

The National Housing Federation (NHF), which represents independent non-profit housing associations in the UK, has issued an alarming report in which it warns that house prices could rise by 40% over the next five years.

Such an increase would bring the average price of a home in Britain to over £300,000 and, according to the NHF report, Government plans to increase house building may not be sufficient to prevent such an increase.

Since 1997, UK house prices have risen ahead of wage inflation: house prices have risen by 156%, while incomes have risen 35%.

Oxford Economics, the independent analyst, has prepared the data for the federation’s report and it includes indicators that interest rate rises will cause a slowdown in the housing market in 2008 and 2009, but that a new boom will follow.

From August 7th 2007 - at the height of all this stupidity

http://www.financemarkets.co.uk/2007/08/07...price-increase/

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http://www.telegraph.co.uk/finance/newsbys...nstruction.html

Another good piece of news for the UK economy showing the worst is behind us.

Wonder what the denialists will come up with... :rolleyes:

Linky for info. Tender price inflation (negative) report

http://www.gardiner.com/pdfs/Tender%20Pric...09%20Report.pdf

Outlook for construction not looking too healthy, falling prices over this year and next of 10%, hardly a healthy market

Ongoing tough times for the property market for a while yet I would say

Edited by Unknown

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Sorry, but I think someone's going to need to explain this to me. How does an index that shows a fall in a level of activity indicate a jump in a level of activity?

If Jethro starts with ten toes in January, then loses three toes in each of February, March, and April, then only one toe in May, how many toes does Jethro have?

Well exactly. This is a report of a further contraction, isn't it? How does that make a record 'jump' for housing construction?

I would be grateful if somebody would explain what I am missing here.

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Well exactly. This is a report of a further contraction, isn't it? How does that make a record 'jump' for housing construction?

I would be grateful if somebody would explain what I am missing here.

rose-tinted glasses?

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Complete rubbish I have been talking to a housebuilder this afternoon as we have a project they may be interested in. His words "there are no green shoots, no recovery in sight and we are not close to the housing market bottoming out and recovering. We have written off 2010 and 2011."

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