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Nationwide November - 0.5% Mom


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Both Nationwide and Halifax however, are about to predict a 10% increase by April 2010

Foundations Laid for Housing Recovery

It's time to start practising chatting about house prices again, as figures showing UK property inflation heading quickly towards double digits will be announced this week. The remarkable recovery in property values will see the annual change in prices turn from an 18 per cent fall to a 10 per cent increase in less than a year.

Despite Nationwide Giving a Gloomy Forecast For the UK Economy and Housing Market only last week!!!

And Mortgage Rates Up Ahead of Double Dip Recession

Government-backed banks raised mortgage rates and introduced stricter lending criteria last week amid concerns that this year’s house-price recovery is not sustainable.

Northern Rock, which has boosted lending in recent weeks, increased its market-leading five-year fix for remortgages from 4.99% to 5.39%, while the equivalent deal for homebuyers went up from 4.99% to 5.29%. Both require a 30% deposit. It also withdrew best-buy three-and four-year fixed-rate deals at 4.39% and 4.79% that were available exclusively via brokers, in an attempt to slow the flow of business.

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FFS ?

Can you have a better title next time you noob! I thought it was the actual Nationwide data at first.

totally agree- just a bit of vain attention seeking on his part. Let this thread die and start a new one tomorrow when we know what the real numbers are.

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Up more likely than down. Much lower mortgage payments for lots of people have taken up the slack in house overpricing, so asking prices haven't needed to keep falling.

Also, although people need to save for bigger deposits these days and it's not easy, as time goes by more and more people will have saved sufficient funds.

Edited by blankster
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Up more likely than down. Much lower mortgage payments for lots of people have taken up the slack in house overpricing, so asking prices haven't needed to keep falling.

Also, although people need to save for bigger deposits these days and it's not easy, as time goes by more and more people will have saved sufficient funds.

course, this makes the UK competitive in World Markets how exactly?

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These figures really dont count for anything.

1.) The nationwide figure is how much has been approved for a mortgage - this will always be higher than the completed price. Its interesting to note that no attempt is ever made to record the difference between approval and completion price in the same way as completed prices are compared to asking prices. I would be keen to know if the completed prices of houses bought with Nationwide mortgages have gone up in line with the approvals or if the gap has widened.

2.) Even completed prices are subject to skewing. Hometrack report today shows that only 37% of the country is experiencing rises, biut overall prices have risen by 0.2%

The only relevance to these figures is the impact they have on the mindset of sellers, by virtue of the way house prices are reported in the media! It was interesting to see the video of the couple in Dubai over the weekend. The womans comments gave the impresion that they have reached the 'Fear' stage already. How long before that happens in the UK??

Edited by Nick Dastardly
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