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Epic Ramping By The Express

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http://www.dailyexpress.co.uk/posts/view/196840

Can we get some comments left ... ?

HOUSES have risen in value by up to £91 a day in the past year, according to Britain’s biggest mortgage lender.

The surge in property prices will reassure millions of home owners worried by reports suggesting the housing market faces a dramatic collapse.

Figures released by the Halifax yesterday also show how prices have rocketed over the past decade, giving home owners potential returns unmatched by any other form of investment.

Owners of semis have seen them rise 111 per cent in ten years.

Halifax says the big winners over the past year have been owners of detached family houses which soared by 13 per cent – the equivalent of £91 a day – between June 2009 and June 2010 to stand at an average of £299,295.

But bungalows, flats, semis and ­terraced houses all spiralled upwards too, with price gains of between eight and nine per cent. The average cost of a detached home was 63 per cent more than the average house price during the second quarter of this year.

However semi-detached properties saw the biggest gains during the past decade with values soaring from an average £81,706 to £172,196 – and by £35 a day over past 12 months alone.

The average value of a terraced property jumped by 110 per cent during the decade while the price of bungalows rose by 109 per cent. In the past 12 months the average terrace house rose by £29 a day while bungalows went up £49 a day.

The value of detached homes rose by 102 per cent during the decade. Flats were the only property type not to double in value, though prices went up by an average of 81 per cent over the ten years and rose £35 a day in the year to June 2010.

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Suren Thiru, Halifax housing economist, said: “The price of all property types has been boosted by the combination of historically low interest rates and a lack of properties available for sale over the past year.

“The fact that detached homes have seen the largest average price rises is because such properties are likely to have benefited from greater demand from those buyer groups currently most able to enter the housing market.”

Yesterday it was reported that house prices are set to rocket by 20 per cent in five years, fuelled by a shortage of homes. This would add £30,000 to the value of the average three-bed semi.

And last week July data from the Land Registry’s official House Price Index, based on actual sale prices, showed an annual increase of 6.7 per cent, taking the average property value in England and Wales to £166,798. The monthly change from June to July was an increase of 0.4 per cent.

Robert Bartlett, of estate agents Chesterton Humberts, said: “Continuing low interest rates and the unrelenting shortage of homes in the UK will keep a floor under property prices and while there may be some regional ­variances resulting in a small drop in values on a localised basis we still believe that prices are likely to be relatively stable for the foreseeable future.

“We still anticipate that average house values will have grown in 2010 by the two to three per cent that we predicted in January.”

According to the Halifax, semi-detached and terraced homes were the most popular properties bought in the year to the end of June, accounting for almost two thirds of all sales at 61 per cent – up from 58 per cent in 2000. Bungalows were the least popular choice accounting for only seven per cent of sales, followed by detached properties at 15 per cent.

The gap between the price of detached homes and the average cost of a terraced house, the least expensive property type, has narrowed from 106 to 98 per cent during the past decade.

Meanwhile, Bank of England figures yesterday showed mortgage lending dropping to the fourth lowest level since records began in 1993, fuelling fears of house price setbacks in the shorter term.

Net lending – which strips out redemptions and repayments – plummeted to £86million in July, a steep fall from June’s £518million. Leading financial analysts warned of trouble ahead for home owners as banks continue to impose stricter lending ­criteria on borrowers despite political pressure.

Andrew Goodwin, senior economic adviser to the Ernst & Young ITEM Club, said: “The housing market is heading for a double dip, with net mortgage lending pretty much flat and the number of mortgage approvals remaining very low.

“These figures tend to be well correlated with prices and they point to falling prices over the second half of this year, particularly now that the supply shortages of the early part of the year have eased.”

Paul Diggle, property economist at Capital Economics, predicted prices could end 2010 five per cent lower than they started the year, with further falls of 10 per cent likely in 2011 and 2012.

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BBC presenter exposes VI shocker!!

Even Bill the cretin from BBC breakfast saw through this.

Talking through the mornings papers he read out the headline and said "thats from ... guess what????..... the UK's largest mortgage lender!!!"

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I wish you could post pictures on the comments that is quality!

You can - just publish a comment referring to the photo... ;)

Note how they're going back TEN YEARS to show HPI and how property is a solid investment...it's truly unbelievable.

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BBC presenter exposes VI shocker!!

Even Bill the cretin from BBC breakfast saw through this.

Talking through the mornings papers he read out the headline and said "thats from ... guess what????..... the UK's largest mortgage lender!!!"

But BBC Scotland web page is still “on-message” with this headline:

Bungalows see biggest price rises

People who own bungalows have seen the value of their property rise more than any other kind of home over the past year, according to a new study.

The Bank of Scotland report found bungalows rose in value by 8%, from an average of £166,000 to £178,000.

Detached properties also fared better than semi-detached and terraced homes, which both saw falls in the average price for the same period.

Flats, the least expensive type of property, saw prices remain static.

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hang-on, did they just pull the article altogether?

Try the link?

Looks like it

ARTICLE MISSING

The article you are looking for does not exist. It may have been deleted.

Maybe they got the message :lol:

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From the comments

This are the statistics that matter. None of that other clap trap.

I must contradict this article though. I'm a homeowner and have not been 1% worried about falling house price news. I believe what I see with my own eyes. I have not seen ONE decent house going cheap. There is a group of disenchanted renters at large trying to hype up a property crash. It didn't work when they tried it 2 years ago and now it's impossible. Let this be the end of these silly arguements. Houses are the best investment in the UK.

• Posted by: Sibley • Report Comment

:lol::lol::lol:

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Another attempt by the express

One comment.

Lower house prices are not all good news. A firm and stable house price market is necessary to make it tick. A falling market would threaten to bring down the house of cards.

1. Negative equity - will tie people up in debt for years

2. People won't sell - because they won't sell at a loss (unless they are forced to - see 1 above)

3. People won't buy - because there will be a loss of confidence (that will push prices down further)

4. Tax receipts will go down - because stamp duty and inheritance tax will be assesseed on a lower price (that will mean Mr Osborne will have to look elsewhere for money)

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Nice find, timebandit.

The Express

DEBATE: COULD A COLLAPSE OF THE HOUSING MARKET BE A GOOD THING?

HOUSES have risen in value by up to £91 a day in the past year, according to Britain’s biggest mortgage lender.

The surge in property prices will reassure millions of home owners worried by reports suggesting the housing market faces a dramatic collapse.

Figures released by the Halifax yesterday also show how prices have rocketed over the past decade, giving home owners potential returns unmatched by any other form of investment.

UK NEWS: HOUSE PRICES UP £91 A DAY

IS THE RISE IN HOUSE PRICES A GOOD THING?

OR DOES IT GIVE BUYERS A FALSE SENSE OF SECURITY?

MAYBE A SLIGHT DROP IN THE HOUSING MARKET COULD BE A GOOD THING FOR THE ECONOMY?

Anyone here got an opinion? ;)

Edited by GordonBrownSpentMyFuture

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Added my bit there too. The express is the stronghold of the deluded. The message needs to be delivered there more than anywhere else

Its a shame we can not remove the Express toilet paper from the shelves, so easily.

15710105.jpg

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The report (which is really clutching at straws) mentions Halifax figures published yesterday. I was out yesterday so could have missed it, but is this referring to the usual Halifax monthly HPI release?

I thought that wasn't due out until tomorrow, so have they seen it ahead of time. The fact that their article makes no reference as to how much house prices have risen in the last month and has to go back 10 years makes me think this months HPI figures will probably be negative and the Express have published this 'article' to try and 're assure' their readers before the report is released.

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The report (which is really clutching at straws) mentions Halifax figures published yesterday. I was out yesterday so could have missed it, but is this referring to the usual Halifax monthly HPI release?

I thought that wasn't due out until tomorrow, so have they seen it ahead of time. The fact that their article makes no reference as to how much house prices have risen in the last month and has to go back 10 years makes me think this months HPI figures will probably be negative and the Express have published this 'article' to try and 're assure' their readers before the report is released.

Excellent points, I too was mystified about their reference to Halifax figures.

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The report (which is really clutching at straws) mentions Halifax figures published yesterday. I was out yesterday so could have missed it, but is this referring to the usual Halifax monthly HPI release?

I thought that wasn't due out until tomorrow, so have they seen it ahead of time. The fact that their article makes no reference as to how much house prices have risen in the last month and has to go back 10 years makes me think this months HPI figures will probably be negative and the Express have published this 'article' to try and 're assure' their readers before the report is released.

It's not Halifax HPI it's this http://www.lloydsbankinggroup.com/media/pdfs/halifax/2010/9510pressrelease.pdf pointless report.

Halifax hpi probably won't be released till next week.

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  • 140 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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