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Nationwide Consumer Confidence: 45 (Lowest Since Apr09)

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From the full Nationwide Consumer Confidence survey for November:

Consumers expressed a growing pessimism towards the housing market in October* and now expect the value of their home to decrease by 1.4% over the next six months. This compares to a decrease of 0.9% predicted in October.

Well, at least they're paying attention.

* That should be November, presumably. Someone at Nationwide seems distracted.

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Is there any chart, graphs or tables of this MoM?

I wonder if this particular measure is the ultimate in lagging?

Would love to see the dead cat bounce on there now coming to an end, only for the purpose of bringing a smile to my frozen cheeks...

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This is certainly a curious recession.I am in the used car trade and the year has been pretty bleak - until now.Suddenly since the start of the month I have been blitzed and to date it's already my second best month of the year for both sales and profit (The two don't necessarily go together if you are ditching old,overpriced stock) If I do another two deals it will be the best.

The typical deal involves either a crappy last leggish sort of trade in or the car is actually dead and they have to replace it,stuff up to £5k screen price.The only thing I can ascribe it to is that I bought lots of stock last month while cars were cheap.

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Consumers expressed a growing pessimism towards the

housing market in October and now expect the value of their

home to decrease by 1.4% over the next six months. This

compares to a decrease of 0.9% predicted in October.

Not a bad result. Like most people think they are better than average drivers, I often hear folk saying that their house isn't going to fall in value. So, good to see HPI softening to be more negative.

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Still, 1.4% over the next six months is hardly epic (more in real terms though). I'm hoping for at least 1.4% down in the next month's worth of data!

I don't think it means they all think it will drop by 1.4%. Some will obviously think it will be a lot more, some a lot more positive. It's the fact that it is negative in the first place that I find striking and good to see it has got more negative in the last month.

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This is certainly a curious recession.I am in the used car trade and the year has been pretty bleak - until now.Suddenly since the start of the month I have been blitzed and to date it's already my second best month of the year for both sales and profit (The two don't necessarily go together if you are ditching old,overpriced stock) If I do another two deals it will be the best.

The typical deal involves either a crappy last leggish sort of trade in or the car is actually dead and they have to replace it,stuff up to £5k screen price.The only thing I can ascribe it to is that I bought lots of stock last month while cars were cheap.

Probably due to the upcoming VAT hike. A car purchase is exactly the sort of thing you'd expect people to bring forward to avoid paying an extra 2.5% VAT.

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Probably due to the upcoming VAT hike. A car purchase is exactly the sort of thing you'd expect people to bring forward to avoid paying an extra 2.5% VAT.

There is no VAT on used cars,apart from what I have to pay on the margin.

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Sick of waiting for the forced sellers to appear? Do you want to know what they will look like? If you have PB, click this link for real time evidence of price discovery in action.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^83909&insId=1&minPrice=130000&maxPrice=130000&minBedrooms=4&maxBedrooms=4&displayPropertyType=houses&oldDisplayPropertyType=houses&includeSSTC=true&_includeSSTC=on

Listed August at £170k

Dropped to £155k in Nov 8th

Dropped to £146k Dec 2nd

Today dropped to £130k

It's coming folks!

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  • 311 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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