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Quarterly House Price Index Graphs


lolacarrascal

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Ta, just punching in the data at the minute, havn't really had a chance to consider what this quarter's figures are telling us. Anyone care to summarise?

No spring bounce.

Going down, steady as she goes. After Spring and with 0.5% interest rates.

Any sort of accelerant applied (interest rates, NAMA & 2 local banks get fed up and race each other to offload property, tighter lending, job losses, double dip, benefit cuts, energy price rises, vacant rates, driving costs, eating costs, vat, inflation, worsening sentiment..... take your pick) will move things up a gear. It's simply a matter of time.

Holidays over, back to school, dark nights and Christmas bills to look forward to

Breaking news BBC Standard & Poor to downgrade USA. Dearer borrowing for all.

Reality and logic appear to have collided at long last.

A benign conjuncture for all on HPC, Gawd bless em.

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HOLA4411

No spring bounce.

Going down, steady as she goes. After Spring and with 0.5% interest rates.

Any sort of accelerant applied (interest rates, NAMA & 2 local banks get fed up and race each other to offload property, tighter lending, job losses, double dip, benefit cuts, energy price rises, vacant rates, driving costs, eating costs, vat, inflation, worsening sentiment..... take your pick) will move things up a gear. It's simply a matter of time.

Holidays over, back to school, dark nights and Christmas bills to look forward to

Breaking news BBC Standard & Poor to downgrade USA. Dearer borrowing for all.

Reality and logic appear to have collided at long last.

A benign conjuncture for all on HPC, Gawd bless em.

The data was rebased to Q1 2003 as I have been thinking recently that this could be the nominal bottom so RV - 20% is my target price to get back in and to give me a hedge against inflation when the impact of QE 3 / 4 / & 5 hits

Edited by lolacarrascal
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  • 4 months later...
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Great work yet again.

Fascinating depiction of what they are reporting - making a bit more sense to me as the (pass remarkable) ups and downs revert to the averages over slightly longer timeframes than the quarterly snapshot.

In a previous thread, you and Doccyboy and I discussed sticking points in the housing market and I was surprised by your anecodal view that the top and bottom were correcting and that the middle hadn't to the same extent.

The attached data tends to support your position if SD house type is taken as a proxy for the middle of the market.

(NB for 2003Q1 data missing, the next available data point was used, was going to do same for missing 2011 data but had to go too far back and was therefore misleading)

Edited by lolacarrascal
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HOLA4423

It's good to find data to back up our anecdotal evidence. Incidentally 2 of my bookmarks dropped over 30K today which surprised me since they had been stuck at the high price for over a year. Maybe sentiment will change after all in the mid range.

It's changing already. It has to - if they wan't to sell. It is the final piece of the jigsaw. If the market is ever to normalise, it can't just correct at the extremes - though it will start there and be most visible earliest - it must be all over and the middle, with it's advantages will take longest. When the middle falls properly into line then everyone can start discussing bottoms.

It was said at the start of this by a Minister that some were having a good recession - he was thinking of middle homeowners with mortgages who kept their jobs (and enjoyed low interest rates). That has changed and a large sub section of who he was referring to - the public sector and professionals - now fear for their jobs and conditions as do many others with no end in sight. Quite a few overstreched by equity withdrawl and further property investment and hoped things would turn. They are now, slowly, facing reality which is difficult because these types more than any, have difficulty in admitting they were wrong and have images to upkeep. Pensioners and soon to be pensioners are also getting hammered. Mr and Mrs above average (or who aspired to be, with little obvious means) are in this group and are suffering like everyone else.

4 things have changed since the early days and expectations of this. The length of time and severity of this - we are actually going backwards.

Inflation

Sentiment

Uncertainty.

Very powerful factors. No one lives in a bubble. Not even the middle of the housing market, eventually.

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