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Halifax Index Only +0.3%

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Monthly rate of increase slowing again....

May 0.8%

Jun 0.4%

Jul 0.6%

Aug 0.9%

Sep 0.4%

Oct 0.3%

Wonder what effect Help to Default 2 will have?

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House prices in the three months to September were 2.0% higher than in the previous quarter; slightly below the increases recorded in June, July and August.Commenting, Martin Ellis, housing economist, said:

"House prices in the three months to September were 2.0% higher than in the previous quarter; slightly below the increases recorded in June, July and August. The annual rate of increase, however, continued to rise. Prices in the three months to September were 6.2% higher than in the same three months last year.

"Housing demand has risen more quickly than supply in recent months, putting upward pressure on prices. Demand has increased against a background of low interest rates and higher consumer confidence underpinned by signs that the economy has begun a sustainable recovery. Official schemes, such as Funding for Lending and Help to Buy, also appear to have boosted housing demand.

"There are signs that supply is beginning to respond to the pick-up in demand, which if continued should help to constrain the upward pressure on prices. The recent strengthening in house prices is increasing the amount of equity that many homeowners have in their home, enabling more to put their property on the market for sale. Levels of housebuilding are also increasing, albeit from a very low base"

Key facts

  • HouseHouse prices in the three months to September were 2.0% higher than in the previous quarter (April-June). This was slightly lower than the 2.1% quarterly rate of increase recorded in each of the previous three months.
  • Prices in the three months to September were 6.2% higher than in the same three

    months a year earlier. This continued the upward trend in the annual rate from March 2013 (1.1%).

  • House prices increased by 0.3% in September. Despite this being the eighth successive monthly increase, the average price in September was still 14% below the August 2007 market peak.
  • Activity on an upward trend. Home sales during June to August were 8% higher than in the previous three months (March to May) and 19% higher than in the same three months last year. (Source: HMRC, seasonally-adjusted figures.) The number of mortgage approvals for house purchases – a leading indicator of completed house sales – remains on an upward trend, increasing by 2% between July and August, to 62,200; the highest since February 2008. Approvals in the three months to August were 8% higher than in the previous quarter.

    (Source: Bank of England, seasonally-adjusted figures.)

  • Signs that more homes are now coming on to the market for sale. The number of

    homeowners providing instructions to put their property on the market for sale increased for the seventh successive month in August. This increase helped the supply of properties on the market to rise sufficiently to meet the increase in sales in August. (Source: RICS.) Housebuilding has also shown recent signs of improvement. The number of housing starts in England in the first six months of 2013 was 22% higher than in the same period last year. (Source: DCLG.)

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Ties in with all the first time buyers over at money saving expert attempting to front run Cameron's Help To Buy 2 scheme.

After looking at the scheme, all it does is expand the existing range of 95% mortgages so I cant see it causing a bubble so I would expect price deflation to resume wiping out most of this years modest gains by January.

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Ties in with all the first time buyers over at money saving expert attempting to front run Cameron's Help To Buy 2 scheme.

After looking at the scheme, all it does is expand the existing range of 95% mortgages so I cant see it causing a bubble so I would expect price deflation to resume wiping out most of this years modest gains by January.

The slashing of IRs caused a deadcat bounce in the summer of 2010 - we may be heading for the same again.

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Monthly rate of increase slowing again....

May 0.8%

Jun 0.4%

Jul 0.6%

Aug 0.9%

Sep 0.4%

Oct 0.3%

Wonder what effect Help to Default 2 will have?

Still an annual rise of 6.6% 170733/160177 without their 3 month smoothing formula and with -0.6% and -0.2% for October and November 12 yet to drop out of the rolling stats we could still be looking at a sizeable annual rise come the year end.

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Still an annual rise of 6.6% 170733/160177 without their 3 month smoothing formula and with -0.6% and -0.2% for October and November 12 yet to drop out of the rolling stats we could still be looking at a sizeable annual rise come the year end.

Carney: I see no ships

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