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Realistbear

Nationwide Sees Stable Housing Market

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http://uk.finance.yahoo.com/news/nationwide-sees-stable-housing-market-reuters_molt-0fabeadb4d30.html?x=0

Nationwide sees stable housing market
8:40, Wednesday 26 May 2010
LONDON (Reuters) - The country's largest building society Nationwide expects "broad stability" in the country's housing market over the next six to 12 months, as an increase in property supply helps to relieve pressure on prices.
"Unless there is a significant spike in interest rates, which we are not expecting, a major dip in prices is unlikely to occur over the next year," Chief Executive Graham Beale told reporters, adding a lack of credit and high prices relative to salaries would act as an upward limit. UK house prices have recovered some ground in recent months, though prices fell in February and April, according to lender Halifax, raising questions over the strength of a recovery.
Data from Nationwide itself, Britain's third-largest mortgage lender, showed a 1 percent rise in April and took the annual rate of increase into double digits for the first time in nearly three years...../
Beale declined to comment on potential staff cuts and said the review currently underway would take "months not weeks."
:lol:

Delusional at best.

Edited by Realistbear

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http://uk.finance.yahoo.com/news/nationwide-sees-stable-housing-market-reuters_molt-0fabeadb4d30.html?x=0

Nationwide sees stable housing market
8:40, Wednesday 26 May 2010
LONDON (Reuters) - The country's largest building society Nationwide expects "broad stability" in the country's housing market over the next six to 12 months, as an increase in property supply helps to relieve pressure on prices.
"Unless there is a significant spike in interest rates, which we are not
expecting
, a major dip in prices is unlikely to occur over the next year," Chief Executive Graham Beale told reporters, adding a lack of credit and high prices relative to salaries would act as an upward limit. UK house prices have recovered some ground in recent months, though prices fell in February and April, according to lender Halifax, raising questions over the strength of a recovery.
Data from Nationwide itself, Britain's third-largest mortgage lender, showed a 1 percent rise in April and took the annual rate of increase into double digits for the first time in nearly three years...../
Beale declined to comment on potential staff cuts and said the review currently underway would take "months not weeks."

Delusional at best.

set them up, set them up, set them up to knock 'em down

Edited by Mixle

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The article notes underlying profits halved from previous year and expect to stay at the same level. I've not read the actual results. That's potentially a lot of cost cutting/reduction in capacity required as it sounds like aren't expecting a recovery in the near term.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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