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House Prices Beat Pre-Recession Levels As Housing Market Hits Record High

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http://www.dailymail.co.uk/news/article-2341454/House-prices-beat-pre-recession-levels-housing-market-hits-record-high.html

House prices beat pre-recession levels as housing market hits record high

Price of average home in England and Wales up £6,125 in a year

Prices fell just once in the last 18 months

Rise in prices is being driven by foreign buyers in London

I'm just so rich in this housing led recovery....

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The media onslaught is relentless this year. SO what they are really saying is London is in a massive investment bubble and will collapse before the end of the year.

I am waiting to see the sales volumes on the land registry for april may and june later in the year.

The last sales volumes for northants was January and it was down on the previous year.

Every times I do a right move search now property bee shows nothing but asking rice drops and sales falling through.

Edited by TheCountOfNowhere

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I know....everyone should be given a home at birth to sit in, then nobody need go out to do anything productive all they need do is sit in it growing richer and richer. ;)

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I know....everyone should be given a home at birth to sit in, then nobody need go out to do anything productive all they need do is sit in it growing richer and richer. ;)

Just assign each newborn the promise of a house, no need to actually build any.

Fractional reserve housing. Yeah, baby ....

We could use these promises as our currency, and all be rich forever.

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The only survey that is showing this. The nearest contender is Nationwide at -9.75% and Halifax are still stuck back at -16.86%. Nominal, of course, since the protracted nature of the crash produces some big inflation adjusted numbers even now.

Edited by crashmonitor

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If you want a vision of the future, imagine a boot stamping on a human face - forever.

George Orwell

Help to Buy 'bubble' could push house prices up by 30pc

06 May 2013

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10039583/Help-to-Buy-bubble-could-push-house-prices-up-by-30pc.html

British house prices are '31pc too high' - OECD

30 May 2013

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10088467/OECD-British-house-prices-are-31-too-high.html

Business news and markets

12 June, 2013

http://www.telegraph.co.uk/finance/business-news-markets-live/10114786/Business-news-and-markets-as-it-happened-12-June-2013.html#bubble

We have intentionally blown the biggest government bond bubble in history.

This crisis has proved that capitalism works

13 Jun 2013

http://www.telegraph.co.uk/finance/financialcrisis/10118366/This-crisis-has-proved-that-capitalism-works.html

People are angry – very angry – about bankers' date=' perhaps more so here in Britain than in the US, where the banking crisis began. Many also feel badly let down by the political class in general. However, what on the whole they don’t seem to be fulminating about is the free market system as such. It’s financial excess that is blamed for our travails, not market failure.

Now this could quite genuinely be seen as a surprise. Despite the deepest, most prolonged downturn in more than 100 years, together with the most sustained assault on living standards since records began, there’s not much evidence of public disillusionment in free-market economics.[/quote']

Political language... is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.

George Orwell

NSA surveillance puts George Orwell's '1984' on bestseller lists

LA Times

http://www.latimes.com/features/books/jacketcopy/la-et-jc-nsa-surveillance-puts-george-orwells-1984-on-bestseller-lists-20130611,0,5672562.story

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House prices beat pre-recession levels as housing market hits record high

Price of average home in England and Wales up £6,125 in a year

Prices fell just once in the last 18 months

Rise in prices is being driven by foreign buyers in London

House prices rose to a record level last month, beating their pre-recession peak for the first time since the financial crash.

The average home in England and Wales now costs £233,061 - £6,125 more than a year ago, the equivalent of a £510 increase every month.

Prices have fallen in only one month out of the past 18.

Through the roof: House prices has hit a record level, topping the property peak before the recession hit in 2008

Through the roof: House prices has hit a record level and are now even higher than before the recession

The rise is being driven by a boom in prices in London, where demand is inflated by foreign buyers. Other areas have seen little growth.

Observers think the steady rise could be an indication that government measures to boost home ownership have started to stimulate the market.

The article is misleading as the headline as well as parts within the article imply national levels are beating pre-recession levels - but then they later admit it's only the London bubble influencing the averages. They also say other areas have seen little growth but it's far more likely that if London has risen then areas outside of London have fallen - wasn't that confirmed by recent LR figures.

Then they mention the success of Help to Buy and highlight the effect of foreign buyers so it sounds as if a lot of the Help to Buy money could be going to foreign buyers.

Quite apart from anything else it's no way to run a country.

Edited by billybong

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One thing I don't get is that above it states

The average home in England and Wales now costs £233,061 - £6,125 more than a year ago, the equivalent of a £510 increase every month.

Yet the Nationwide chart:

homepage.png

And homepage indices state:

£166,094 (Halifax)

£167,912 (Nationwide)

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One thing I don't get is that above it states

Yet the Nationwide chart:

homepage.png

And homepage indices state:

£166,094 (Halifax)

£167,912 (Nationwide)

Sold a couple of billionaire houses at the top.....skews the figures....sell a few more like that and everyone's house will be worth more. :huh:

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One thing I don't get is that above it states

Yet the Nationwide chart:

homepage.png

And homepage indices state:

£166,094 (Halifax)

£167,912 (Nationwide)

That chart is real house prices, which makes no odds to owners or buyers in a zero interest rate zero wage inflation environment like we're in.

Giving it such prominence on the front page as evidence of a crash is almost as VI as your average Daily Express article.

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The media onslaught is relentless this year. SO what they are really saying is London is in a massive investment bubble and will collapse before the end of the year.

I am waiting to see the sales volumes on the land registry for april may and june later in the year.

The last sales volumes for northants was January and it was down on the previous year.

Every times I do a right move search now property bee shows nothing but asking rice drops and sales falling through.

They are desperate for a spring bounce and they've only got a week to go.

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One thing I don't get is that above it states

Yet the Nationwide chart:

And homepage indices state:

£166,094 (Halifax)

£167,912 (Nationwide)

Yes, I like the blue chart! ;)

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That chart is real house prices, which makes no odds to owners or buyers in a zero interest rate zero wage inflation environment like we're in.

Giving it such prominence on the front page as evidence of a crash is almost as VI as your average Daily Express article.

Yes and no. Prices/wages is what matters to a prospective buyer, but it does no harm for people to see that property is not the store of wealth it is often painted as being.

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The actual report - http://www.lslps.co.uk/documents/house_price_index_may13.pdf

Makes good reading if you are into this sort of thing.

Makes it very clear that most places outside the smart bits of London are still way down from peak - South West is still 6% off peak in 2007.

I don't know all the methodology behind the report but the average figure seems way to high - not sure how they account for that??

:unsure:

it's the mainstream media that twist this b0ll0x

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The actual report - http://www.lslps.co.uk/documents/house_price_index_may13.pdf

Makes good reading if you are into this sort of thing.

Makes it very clear that most places outside the smart bits of London are still way down from peak - South West is still 6% off peak in 2007.

I don't know all the methodology behind the report but the average figure seems way to high - not sure how they account for that??

:unsure:

it's the mainstream media that twist this b0ll0x

If you take a simple mean of sold prices you get that kind of average price, so I guess that's what they've done. It's what I did here http://www.doogal.co.uk/PropertySales.php.

I'm sure some interesting analysis could be applied to this data, and I'm open to suggestions. Shame the free version of the Land Registry data only goes back just over a year.

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  • 238 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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