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rantnrave

Nationwide Up 0.9%

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The recent Halliwide indices have attracted a lot of interest for showing YoY increases of around 5% (half of which are falls dropping out from the numbers this time last year).

With the media making much of this as a sign of a housing boom and linking that to whether HTB part two is needed, I'm wondering if tomorrow's Nationwide data will show an 'unexpected' fall.

Thoughts?

EDIT WITH UPDATED NUMBERS - So I was majorly wrong. Up 0.9%.

Edited by rantnrave

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The recent Halliwide indices have attracted a lot of interest for showing YoY increases of around 5% (half of which are falls dropping out from the numbers this time last year).

With the media making much of this as a sign of a housing boom and linking that to whether HTB part two is needed, I'm wondering if tomorrow's Nationwide data will show an 'unexpected' fall.

Thoughts?

http://www.bbc.co.uk/news/business-24280934

"Nationwide online accounts hit by glitch

"Online service problems at Nationwide led to some customers' accounts incorrectly being shown as empty"

""Some of our customers were unable to access their accounts this morning due to a technical issue. This has now been fixed and we apologise for any inconvenience this has caused," he said."

Maybe they should concentrate on running their business instead of hyping up a dead market.

Edited by TheCountOfNowhere

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Still affordable ... from the report 'A typical mortgage payment for a first time buyer is currently equal to around 29% of take home pay, in line with the long term average.'

At least Carney has said interest rates will not rise for years (or ever given the criteria to even consider raising rates) and today all that matters is the monthly payment the debt level is irrelevant. With even lower interest rates to come and more underwriting prices can only rise.

Indeed ZIRP needs looking at never mind HTB2. Is ZIRP really compatible with GDP possibly annualising 4% equivalent in Q3 and house prices annualising over 10%.

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Yes when you need to win an election and have been brought in to get GDP growth and create a housing bubble. It will not be just in London where the house is earning more than the worker ... eminently sustainable in a healthy economy.

Osborne might even be able to meet his public sector deficit target at the eleventh hour with a sudden surge in stamp duty and a private sector debt fuelled spending fest.

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Osborne might even be able to meet his public sector deficit target at the eleventh hour with a sudden surge in stamp duty and a private sector debt fuelled spending fest.

But it's not hard to imagine Osborne, Clegg, Alexander and Cameron offering up self-justification for their actions.

"Well, Gordo stole three election victories with a housing bubble... we at least deserve one, don't we?"

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I just spotted that right at the bottom of the report Peterborough is -6% on the quarter and -2% on the year.

Is this where they did the research that shows immigration brings house prices down locally?

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Starting to get a bit of a ripple effect with Outer Metropolitan, East Anglia and East Midlands all coming in at 5.0% or more annual.

The Land Reg also had its release today but it was overshadowed by Nationwide.

In the latest dataset there's a pretty dramatic increase in properties selling for £1m+ (however this won't show up until next month's release).

I quickly looked at the London commuter belt properties that sold for £1m and this is one of the first ones I came across that had a previous sold price:

AL34BQ.jpg

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=38575213&sale=379564&country=england

Looking on Streetview the area doesn't look anything special at all (but I don't know St Albans).

AL34BQb.jpg

I thought things were mental in 2007, so I'm not quite sure how to class what's happening now.

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Bizarre. Doubled from 2002-3. Nowhere for 2 years then another 50% since. 2002 remodel? Street view of other houses give any idea of original condition? Other local sold rices?

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I'm fairly hard to shock with HP, but those St Albans ... £1M??

How does anyone justify paying that for a house like those? I can understand a country house - or a penthouse flat at that price - but those ... who on that kind of money wants to live like that??

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I'm fairly hard to shock with HP, but those St Albans ... £1M??

How does anyone justify paying that for a house like those? I can understand a country house - or a penthouse flat at that price - but those ... who on that kind of money wants to live like that??

Inherited/borrowed/equity money? They think the price tag makes them "special", they haven`t figured out that it is a Ponzi scheme yet.

Edit; Sorry I read "What KIND of money?" They are not "on" that kind of money if they are buying those houses IMO, they are trading up to a bigger price tag with equity and borrowings, they will lose most of their "wealth".

Edited by dances with sheeple

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Inherited/borrowed/equity money? They think the price tag makes them "special", they haven`t figured out that it is a Ponzi scheme yet.

Or derived from existing owners equity in their home. Once the equity is created (printed) it is hard to destroy without major economic upheaval (hence we have saved the Banks by reinflating the bubble). Trouble is you get the iniquitous situation where the MPC has printed money for boomers on a scale that it is impossible to earn honestly.

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I'm fairly hard to shock with HP, but those St Albans ... £1M??

How does anyone justify paying that for a house like those? I can understand a country house - or a penthouse flat at that price - but those ... who on that kind of money wants to live like that??

Its a reasonably nice safe town with a direct fast rail link to the City/central London and two airports - I agree its barmy but thats London and bordering areas now (at least the relatively nice areas).

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