Jump to content
House Price Crash Forum
rantnrave

Halifax June Data Out At 8Am

Recommended Posts

Fridays Daily Excess will be JOY AS HOUSE PRICES SOAR AGAIN .... well there has been over a week since the last one. Up 1.3% MoM driven by London .... same old same old

JOY AS HOUSE PRICES SHAFT THOUSANDS INTO DEBT SLAVERY AGAIN

Share this post


Link to post
Share on other sites

More depressing news and bullish headlines to follow?

It could be an awful day tomorrow. Not only the Halifax figures but the possible announcement of more QE too :(

Share this post


Link to post
Share on other sites

http://uk.reuters.com/article/2013/07/04/uk-britain-property-halifax-idUKBRE96305Z20130704

House prices rose 0.6 percent in June from May and posted their sharpest annual increase in nearly three years in the second quarter, mortgage lender Halifax said on Thursday.

Prices were 3.7 percent higher in the April-June period than a year ago. Both readings beat analysts' forecasts for a 0.4 percent monthly rise and a 3.6 percent yearly increase.

How exciting the sharpest increase in 3 years.

Share this post


Link to post
Share on other sites

+0.6 on the month

Supply conditions remain tight.

Can't say I'm surprised. IMO this is the effect of monthly mortgage repayments being noticeably lower than rents now. No less than five FTB colleagues have bought in recent months, many of them citing this factor. I somehow doubt that the rent / mortgage monthly payment ratio is going to remain like this for the 25 year commitment they have just taken on. The govt has however convinced many that it will do 'whatever it takes' to keep house prices up and IRs low. Of course, it's not all in the govt's hands...

Share this post


Link to post
Share on other sites

let me guess. London up 1% everywhere else doqn0.4% and low volumes.

same old same old.

i still reckon London will collapse at the end of the summer.

So do I, but not this summer, there's an election to be fought first.

Share this post


Link to post
Share on other sites

i still reckon London will collapse at the end of the summer.

If the Eurozone breaks out or QE is unwind, or if LTV is introduced, mass building or something like that happened..

For market to collapse, you need force sellers - otherwise, they will just sit on the property and wait until the price demanded is met - even if that takes a few years (which is what I see in some properties - and they got it eventually )

Share this post


Link to post
Share on other sites

So do I, but not this summer, there's an election to be fought first.

A firesale of RBS/Lloyds + rampant house price inflation was always Osborne's re-election plan.

Share this post


Link to post
Share on other sites

While the leech Banks continue to skim, there is only a couple of ways to get money out to the real world.

More lending.....or

more payouts to savers....

doing the correct thing, paying out on risk, is going to make a few hundred thousand bankers redundant.

Share this post


Link to post
Share on other sites

Dwelling prices - the UK's main manufacturing industry, and essential to bring more 'joy' to Daily Express sub-editors.

I don't suppose there's any hope that the 'positive' house prices gives Gorgeous Mark 'Clooney' Carney complete justification in raising rates, killing QE and FLS, and generally behaving like someone who doesn't want inflation to spin further out of control? That is, if the British public have not yet had enough of seeing portion sizes decrease while their food shopping bill increases, their fuel and energy bills increase, and their GBP buying less and less abroad.

Any chance of it, I wonder, sanity returning or the loons permanently lobbying for this disastrous can kicking exercise to go on and on

Share this post


Link to post
Share on other sites

The key point made here is the supply constraint. If the market were healthy and transaction levels nearer to where they historically have been, the effects of FLS, Help to Buy (to let) and all the other props would be far less pronounced, and I think we would see at least semi significant falls. I'm watching this in real time in one of my search areas, where a surge in volume is causing it's own little micro crash (albeit after a recent micro boom, but nonetheless).

The biggest blocker to HPC is moribund volume. Whilst this type of MoM/YoY increase is depressing on the face of it, they will serve to tempt people to test the market, increase volume, and lead to something closer to price discovery. Something has to give - a few months of rises might be a temporary price to pay for a more functional market.

Share this post


Link to post
Share on other sites

My hope is that this will result in the mother of all crashes and this time the banks won't get bailed out, as the sovereign balance sheet just won't stand it.

Looks as though we need another crash and bank failure for lessons to be learned.

"Rebalancing" is going well then. Yet another lie from the Labourtory Party.

Share this post


Link to post
Share on other sites

Gorgeous Mark Carney needs to raise rates, in London.

Else he'll end up with a bubble like he's created in Vancouver.

Share this post


Link to post
Share on other sites

As expected. Did everyone else notice on the latest LR data that the transactions of houses below 300k are dropping like a stone.

Just proves the point it's a London/SE bubble while the rest of us sink.

But so long as the Express reading voters think their getting richer...

Share this post


Link to post
Share on other sites

As expected. Did everyone else notice on the latest LR data that the transactions of houses below 300k are dropping like a stone.

Just proves the point it's a London/SE bubble while the rest of us sink.

But so long as the Express reading voters think their getting richer...

In my part of the SE Rightmove asking prices continue to fall with sellers slowly chasing the market down.

Share this post


Link to post
Share on other sites

In my part of the SE Rightmove asking prices continue to fall with sellers slowly chasing the market down.

It's good to hear Bruce. Round my gaff (east Gloucestershire) prices are dropping. The only thing keeping prices up are boomers buying other boomers detached houses. Ohh and some gullible young 20 somethings buying new rabbit hutches thanks to help-to-sell because "it's cheaper than renting". I look forward to 5 years time when they've got to start paying interest on the loan.

Share this post


Link to post
Share on other sites

For market to collapse, you need force sellers - otherwise, they will just sit on the property and wait until the price demanded is met - even if that takes a few years (which is what I see in some properties - and they got it eventually )

Margin calls and or repossession

Share this post


Link to post
Share on other sites

In my part of the SE Rightmove asking prices continue to fall with sellers slowly chasing the market down.

Did you ever give an approximation of where that is, so I can search for it in the archive? Is it Kent? If you don't want to say the town, the county'll do. My old neck of the woods makes grim reading IF the STCs reflect this record HPI news http://www.bbc.co.uk/news/business-20850856

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.