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Realistbear

Nationwide Vs. Halifax

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Halifax say it up in September:

"Mortgage lender Halifax said prices increased 1.2% in September"

http://uk.biz.yahoo.com/051006/214/ftsri.html

Nationwide say its down:

"House prices fell 0.2 percent on the month in September taking the annual rate of increase to its weakest in more than nine years, the Nationwide building society said on Thursday.

http://uk.news.yahoo.com/29092005/325/hous...wide.html"

All I see around my area (Evesham Valley-West Midlands) are "price reduced," "new price," "sold subject to contract (EA speak for stuck in a chain)," "no upward chain (wannabe STR)."

Nationwide seem to be more truthful although their .2% drop may require a move in the decimal point slightly more to the left.

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Both are lying because they each claim to be the ultimate authority on house prices.

"House prices are..." NO THEY ARE NOT.

What they should be saying is:

"Prices of houses which we have lent against are..."

No matter what they say, they are both just two pieces of a bigger puzzle.

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I don't think they are intentionally trying to mislead anyone. It's just the way their stats are calculated. You must remember that it's calculated based upon their mortgage lending. They can pick and choose who they lend money to, so the stats will reflect this.

All the indeces are different and they all measure different things at different points in the buying stage.

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I would probably trust the Nationwide's data more. They are a caring mutual after all!

You have to be pretty thick to take out a mortgage with the Halifax or any other high street bank (apart from HSBC). Presumably their borrowers are stupid enough to be paying well over odds for their property as well!

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I despair of Halifax/Bank of Scotland. Their merger/reverse takeover has turned the former 'state bank' of Scotland into some sort of toy bank with their ridiculously childish adverts with that Howard character and various Scottish 'glamour puss' bank workers-cum-actresses.

I cringe when I see the state they have become.

I remember in 1995, when I worked in a local bakers (who now supply just about all the supermarkets with their novelty birthday cakes having gone exclusively into that line of business), how we got a special order to make so many hundred (300 I think) large birthday-type cakes, for their 300th anniversary celebrations. It was a tasteful design, with 1695-1995 and their logo and a celebratory message and conformed to their serious image as a serious bank and a safe place to put your money.

Thankfully this isn't now or we would probably have had to look at 300 Howard cakes with big glasses and maybe even a singing decoration trivialising the whole thing.

Is it just me, or has banking just totally lost the plot in the last decade?

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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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