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stillill

Halifax Say "3% House Price Riseszzzzz".

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Ticker on the BBC's "news" site pointed me to this press release by trumpetting "house prices rise by 3%".

http://www.hbosplc.com/economy/includes/Ho...e_Sept_2005.pdf

Why always the sensation? Why not facts? It's not like BBC news really compete with anyone, as most believe belief what the BBC tell us. Why not tell us house price inflation has slumped? Glad I don't pay a licence fee for these jokers.

"House prices increased by 1.2% in September and by 1.8% in the third quarter. The annual rate of house price inflation, at 3.0%, is significantly lower than the 20.5% recorded in quarter 3 in 2004".

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The BBC is very misleading - it implies there's a 3% rise every month!

Also, where do the Halifax get their figures from? Anybody seen a property go up in price in the last month? How do they manage to fiddle it?

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The BBC is very misleading - it implies there's a 3% rise every month!

Also, where do the Halifax get their figures from? Anybody seen a property go up in price in the last month? How do they manage to fiddle it?

The Halifax index is going the opposite way to the other indexes. Most others have shown a slight drop or level over the last quarter, yet halifax now has 2 months of >1% mom increases.

Very stange.

Edit: Hope the bank of England read this and put up rates!

Edited by erd

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Yup, don't understand it at all.

Even with the alleged Northern bias, how can the Halifax be showing gains of 2.8% over a month when Nationwide, Hometrack and Rightmove have all agreed that prices have dipped slightly over the same period?

I understand there are differences in the type of data collected, but the Halifax appears to be defying a clear trend showing up in all the other indices. :blink:

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Hooray, the BOE are saving the economy by making the UK more expensive.

Well done lads.

A quickening of offshoring and company closures to come then?

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The BBC is very misleading - it implies there's a 3% rise every month!

Also, where do the Halifax get their figures from? Anybody seen a property go up in price in the last month? How do they manage to fiddle it?

Under their calm exterior I suspect that there is full scale panic within the Halifax. They have lent huge sums of money at the top of a bubble. Perhaps even a modest market slide could now force them to stop taking on new business (or worse).

The Halifax have two big problems.

Firstly if they are fiddling the statistics, this will only make the news for tomorrow that much worse.

Secondly there is not relief for them on the horizon. Unemployment is rising and interest rates will have to rise.

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The halifax made a political donation to the new labour party before the general election.

Enough said.

How much?

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Guest Alright Jack
Under their calm exterior I suspect that there is full scale panic within the Halifax. They have lent huge sums of money at the top of a bubble. Perhaps even a modest market slide could now force them to stop taking on new business (or worse).

The Halifax have two big problems.

Firstly if they are fiddling the statistics, this will only make the news for tomorrow that much worse.

Secondly there is not relief for them on the horizon. Unemployment is rising and interest rates will have to rise.

"Halifax are fiddling the statistics".

Can you prove that? Would you make a formal statement to that effect?

"Secondly there is not relief for them on the horizon. Unemployment is rising and interest rates will have to rise."

Why do interest rates have to rise?

The economy is looking worse for wear by recent standards => IR's go down (as they are doing)

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"Halifax are fiddling the statistics".

Can you prove that? Would you make a formal statement to that effect?

"Secondly there is not relief for them on the horizon. Unemployment is rising and interest rates will have to rise."

Why do interest rates have to rise?

The economy is looking worse for wear by recent standards => IR's go down (as they are doing)

Don't distort my words. I said "if they are fiddling the statistics". Having said that, I think any reasonable person should be troubled by the Halifax statement. They have failed to see a single cloud the horizen. Does that not seem odd when we know that borrowing is out of control and unemployment is rising.

Interest rates have to rise because inflation is rising and US interest rates are rising. You cannot buck the market indefinitely (as Norman Lamont discovered).

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Don't distort my words. I said "if they are fiddling the statistics". Having said that, I think any reasonable person should be troubled by the Halifax statement. They have failed to see a single cloud the horizen. Does that not seem odd when we know that borrowing is out of control and unemployment is rising.

Interest rates have to rise because inflation is rising and US interest rates are rising. You cannot buck the market indefinitely (as Norman Lamont discovered).

if they can propup the market with statement like this, they can carry on lending/recovering

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if they can propup the market with statement like this, they can carry on lending/recovering

Your right but they can only keep the house of cards intact if unemployment stops rising, taxes stop rising, interest rates stay low and people stop increasing their debt. House prices are so high today that just one of these factors is enough to bring everything tumbling down.

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The first 2 weeks of September were a great deal busier than I expected, down here in W Wales, so perhaps there was a slight pick up - a last gasp. But am I correct in asserting that the BBC has given greater coverage to this Halifax figure than those from Nationwide, Hometrack and Rightmove. One positive not - the Halifax figures might cause a problem for the New Labour appointees on the BoE's MPC, who will undoubtedly have been pushing for an interest rate cut this month. We'll soon find out whether they've succeeded.

Edited by gruffydd

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  • 301 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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