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Nationwide - Uk House Prices Fall Again In Nov

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http://www.reuters.com/article/idUSNLLUME6OK20101201

LONDON, Dec 1 (Reuters) - British house prices fell for the fourth month in five in November, a survey showed on Wednesday, in a sign the downturn in the country's property market is becoming more entrenched.

Mortgage lender Nationwide said the average price of a property fell 0.3 percent in November, a slightly bigger drop than the 0.2 percent fall forecast by analysts. The annual rate of growth fell to 0.4 percent, its weakest since September 2009.

However, Nationwide chief economist Martin Gahbauer said supply pressures were starting to ease and there was little to suggest house price declines would accelerate in the months ahead.

"There are early signs that the flow of new property onto the market may be slowing down again as potential sellers observe the recent weakness in prices and decide against marketing their properties at the current juncture," he said.

Nationwide's figures tally with a raft of data showing last year's property market rebound has gone into reverse as Britons prepare for the toughest government spending squeeze in generations.

Banks, wary of an escalation in the euro zone's debt crisis, have also reined in lending to all but the safest of borrowers.

Still, there was little evidence that price falls were gathering momentum in the way they did during the downturn of 2008. The three-month on three-month rate of decline actually moderated to -1.3 percent from -1.5 percent in October.

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Off to bed, going to bump this before I go. Only 0.3%. Better than nothing. I suspect it is on the back of incredibly low approvals.

tbh, I'd love to know how many mortgages NW approved last month, it can't be more than 3000 can it (assuming they have a 10% market share?)

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Good news, but still not quite YoY negative :(

Would not surprise me if Jan 2011 turns out to be, miraculously, the biggest Nationwide monthly fall... if you are going to have a big fall in a given month best to have it at the start of a new year and not at the end of an outgoing one I guess... stops the YOY being negative... and you can convince yourself that the rest of the new year will be positive months...

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The fall was 0.4% according to the story buried on the BBC news website

http://www.bbc.co.uk/news/business-11879051

House prices fell again in November, the Nationwide building society says.

The average price dropped by another 0.4% to leave it just 0.4% higher than a year ago, at just over £163,398.

Meanwhile, rents are continuing to be pushed up as more people turn to renting a home instead of trying to buy one.

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Hmm, in other words, property is becoming a big heavy shackle around the neck of the nation.

We've seen no increases since the fateful year of 2007.

Even with interest rates low, property now looks like a poor 'investment'. Add all the dangers involved, negative equity and repossession, and it looks like something to be avoided.

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BBC unusually bearish on this (-0.4%!!!)

1 December 2010 Last updated at 07:02 GMT

House prices fall again in November, says Nationwide

House prices fell again in November, the Nationwide building society says.

The average price dropped by another 0.4% to leave it just 0.4% higher than a year ago, at just over £163,398.

Meanwhile, rents are continuing to be pushed up as more people turn to renting a home instead of trying to buy one.

The Royal Institution of Chartered Surveyors (Rics) said demand from would-be renters was rising while the supply of new homes to let was falling

Someone on the night desk will be getting their @rse kicked when the Editor comes in to see that he was unduly scared and that his portfolio hasn’t dropped by that extra 0.1%

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BBC unusually bearish on this (-0.4%!!!)

Someone on the night desk will be getting their @rse kicked when the Editor comes in to see that he was unduly scared and that his portfolio hasn't dropped by that extra 0.1%

It's ok the breakfast news got back on track as usual. Prices down but not as much as last month - woohoo !!

Apparently again it has nothing to do with prices being too high. Just a lack of mortgages seemingly. Their bias on this subject seriously pisses me off.

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What was the volume? This is key

Negative is negative! :) Continued trend, etc. I would be quacking in my boots if I wanted to sell. (more so than before at least)

Unfortunately, there's a big difference between wanting and needing to sell. We need to see a lot more of the latter to get things going...

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In defence of the BBC breakfast report (first time I've ever said that I think) they did mention "continueing" and "trend" iirc

Really ? Will keep my ears open for the next one. If they are talking about downward trends then someone is going to be in big trouble down there !

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What was the volume? This is key

Negative is negative! :) Continued trend, etc. I would be quacking in my boots if I wanted to sell. (more so than before at least)

** throws handlesforforks some bread **

Interested to know if you type with your beak, or webbed feet :).

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Really ? Will keep my ears open for the next one. If they are talking about downward trends then someone is going to be in big trouble down there !

Already relegated it seems.

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Really ? Will keep my ears open for the next one. If they are talking about downward trends then someone is going to be in big trouble down there !

the report lasted the whole of 10 seconds, with the usual shot of a slum somewhere. They moved on very quickly

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  • 312 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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