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Not Falling, But Easing

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In BBC Land house price inflation never falls, it "eases". So much more comforting:

House price inflation eases again, says Nationwide

House price inflation in the UK continued to ease off in July, the Nationwide building society has said.

Its latest monthly survey shows that prices fell by 0.5% this month, taking the annual rate of house price inflation down from 8.7% to 6.6%.

The price of the average home is now £169,347, almost the same as it was in July 2008.

The Nationwide said price rises were easing off as more homes were being put up for sale.

"At the moment, the market is clearly easing relative to the very tight supply conditions that characterised it since early 2009," said the society's chief economist Martin Gahbauer.

"A combination of restrictive credit conditions and uncertainty about the future economic outlook continues to limit the pool of buyers to those with relatively large financial resources," he added.

Buyers typically still have to put down a deposit of at least 25% to secure a mortgage as banks and building societies continue to ration their mortgage lending in the wake of the credit crunch and banking crisis of 2007 and 2008.

The Nationwide pointed out that the number of completed home sales was still running at about half the level recorded before the credit crunch started.

Since the spring of 2009 prices had been pushed higher again, mainly by a shortage of homes coming onto the market for sale.

Earlier this month, the Royal Institution of Chartered Surveyors (Rics) said it expected prices to start falling in the second half of this year, as sellers started to outnumber buyers.

However, the Nationwide said it was less certain about the prospect for prices.

"It will take several more months to establish whether house prices are now simply oscillating around a flat price trend or whether a period of downward trending prices may be in store," Mr Gahbauer said.

http://www.bbc.co.uk/news/business-10794461

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Stevie Smith's "Not waving but drowning" comes to mind.

Nobody heard him, the dead bank,

But still he lay loaning:

I was much further in debt than you thought

And not waving but loaning.

Poor banker, he always loved lending

And now he's dead

It must have been too dear for him his cash gave way,

They said.

Oh, no no no, it was too dear always

(Still the dead one lay loaning)

I was much too in debt all my life

And not waving but loaning.

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Yep, usual shocking reporting from the BBC, they also failed to mension it on BBC News at 0930, but they just had the nationwide chap on painting a bleak picture and the BBC reporter said 'home owners look away' and that falling prices are good for some people!

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Yep, usual shocking reporting from the BBC, they also failed to mension it on BBC News at 0930, but they just had the nationwide chap on painting a bleak picture and the BBC reporter said 'home owners look away' and that falling prices are good for some people!

not falling ?

http://www.globrix.com/property-details/25475122-sude_hill-new_mill-hd9-4_bed

I think this house is getting realistic - a 38% (90K) discount yesterday.

not falling ????

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It's like the phrase "negative growth".

Our culture has a taboo against the word "decline".

I have a friend who works in HR for one of our biggest (and most bankrupt) financial institutions. He used to joke about 'negative recruitment' from the latest I heard he may be about to be negatively recruited himself.

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They just print what the Nationwide tells 'em.

The Nationwide said price rises were easing off

£145.50 pa. to read Nationwide press releases. :lol:

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In BBC Land house price inflation never falls, it "eases". So much more comforting:

http://www.bbc.co.uk/news/business-10794461

I can understand that the VI Nationwide would rather report "easing" than " falling " in their press release, but the BBC's failure to report what is actually happening is pathetic.

Logically HPI easing suggests that the velocity of HPI is slowing (but still positive) rather than turning negative. The BBC's inability to tell the truth loses them further credibility in my mind.

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The reason is Banks/Financials will go bust again if there are big falls, too quick, due to a stampede for the exit gates! (defaulters in Neg Equity)

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Working lunch just reported the mortgage lending has eased too!!!!!!!!!!!!!!!!!! WTF! Can they really not just report a rise when it goes up and a fall when it goes down?????? FFS BBC, get real! :angry:

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If you click through to the agent's web site - they still show £235k for that property - 90k more than Globrix.

Property-bee/Rightmove history shows the price see-sawing between £235k and £145k a number of times over the last couple of days finally settling back to £235k today, must be a case of keyboard dyslexia :rolleyes: .

Edited by luigi

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In BBC Land house price inflation never falls, it "eases". So much more comforting:

http://www.bbc.co.uk/news/business-10794461

F*ck!ng H£!!............... I mean F*ck!ng H£!!....................

I heard this at breakfast this morning. Not only did it raise my blood pressure to dangerously high levels but now my wife thinks I've developed Touretts syndrome.

I hope this government sorts the BBC out - but I fear that they won't.

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So stop bitching on here about it and direct some of that energy to doing something about it.

Write to:

- your MP

- the Press Complaints Commission

- the FSA (given the unlicensed pseudo-advice)

- the BBC Governors (all of them, at home)

- the BBC Trust

- the Director General

- the Head of BBC Online

etc, etc.

It'll take an hour and will guarantee to make you feel a little better and less helpless about it all... :)

Bos.

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So stop bitching on here about it and direct some of that energy to doing something about it.

Write to:

- your MP

- the Press Complaints Commission

- the FSA (given the unlicensed pseudo-advice)

- the BBC Governors (all of them, at home)

- the BBC Trust

- the Director General

- the Head of BBC Online

etc, etc.

It'll take an hour and will guarantee to make you feel a little better and less helpless about it all... :)

Bos.

Good plan.

Emails for PCC etc?

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  • 238 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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