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TheCountOfNowhere

Halifax Hpi September 2014: Monthly Change +0.6%

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Halifax HPI September 2014 08 October 2014

UK House prices September 2014 (seasonally adjusted)

Annual change +9.6%

Quarterly change +2.7%

Monthly change +0.6%

Average Price £187,188

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• House prices in the latest three months (July-September 2014) were 2.7% higher than in the previous three months (April-June 2014). This quarterly rate was down from 2.9% in the previous month and from 3.5% in July.

• Prices in the three months to September were 9.6% higher than in the same three months a year earlier. This was similar to August (9.7%) and lower than July’s 10.2%.

House prices rose by 0.6% between August and September.

Home sales have eased slightly in recent months, falling below 100,000 in August for the first time since November 2013, to 99,930. Sales in the three months to August were 1.5% lower than in the preceding three months (March-May). (Source: HMRC, seasonally-adjusted figures)

Mortgage approvals fall again. Mortgage approvals for house purchases – a leading indicator of completed house sales – fell for the second consecutive month in August, to 64,200. Approvals were 16% below their recent peak in January 2014 and only 1% higher than in August 2013. (Source: Bank of England, seasonally-adjusted figures.)

• Further signs of a better balance between demand and supply. The number of new buyer enquiries fell for the second consecutive month in August, according to the latest data. Market conditions, as measured by the ratio of house sales to the stock of unsold properties - reported by the RICS's monthly survey – loosened slightly in August as a result of lower sales. This suggests a better balance between supply and demand is materialising which, if sustained, would help to dampen the pace of house price growth. (Source: RICS)

Edited by TheCountOfNowhere

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I do love the bankrupt bank index. It is a constant reminder that the very worst of instutions, the most wrekless paid off gamblers are the respectable peak of what this country has to offer, given acres of publicity and column inches they are so resepcted revered.

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I do love the bankrupt bank index. It is a constant reminder that the very worst of instutions, the most wrekless paid off gamblers are the respectable peak of what this country has to offer, given acres of publicity and column inches they are so resepcted revered.

Dont worry, it will replaced by a free market government backed index soon enough.

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Fair Game, even monthly NSA shows +£1,000 m/m.

House prices to earnings ration hit an all time high of 5.04, since mortgages are capped at 4.5x wages, there must be some good falls ahead.

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Halifax HPI September 2014 08 October 2014

UK House prices September 2014 (seasonally adjusted)

Annual change +9.6%

I earn a good wage but my house has earned more that me this year. I do not see this as a good thing, just ridiculous and depressing for the next generation.

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I earn a good wage but my house has earned more that me this year. I do not see this as a good thing, just ridiculous and depressing for the next generation.

Quit your job, buy more houses.

:lol::lol::lol::lol:

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I earn a good wage but my house has earned more that me this year. I do not see this as a good thing, just ridiculous and depressing for the next generation.

What are you going to spend all of those earnings on?

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What are you going to spend all of those earnings on?

I have STR'd to cash in before but wont be doing that this time. Instead, withdraw the equity to convert an outbuilding into residential use for pension income.

Cost to finish conversion cost ~£80K, rental value £800pcm.

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Despite this, I feel pretty pessimistic going forward for the housing Market. October should be a busy time for sales...it isn't where I live. The SSTC proportion to stock, which at the height of the late spring boom were of the order of 50%, has since sunk to below a quarter and those are mainly old sales that are struggling to complete.

Surveyors and market observers know there has been a big change. If there are any crumbs of comfort for bulls, we got a similar pause in March of this year; when the Market went into a sudden inexplicable decline only to pick up massively into late spring.

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I have STR'd to cash in before but wont be doing that this time. Instead, withdraw the equity to convert an outbuilding into residential use for pension income.

Cost to finish conversion cost ~£80K, rental value £800pcm.

You are taking on debt at interest, not withdrawing earnings.

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Go for an hpc flush and make sure you cram it with illegal immigrants. :rolleyes:

EDIT: Without planning permission of course!

I saw a chap on homes under the hammer overpay For a property. He said he got it for the garage and then gave a shifty look. Seem to remember he did it the house to a decent spec. Not sure about the garage though. Edited by Ash4781

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I saw a chap on homes under the hammer overpay For a property. He said he got it for the garage and then gave a shifty look. Seem to remember he did it the house to a decent spec. Not sure about the garage though.

Got to hand it to Brits they are very good at turning around a house that looks a hopeless case. Clearly the accounting is very suspect and sometimes the omissions from the costing are obvious to the viewer. But then we are as crap at accounting as we are good at home improvements, which explains why we are in big debt.

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You are taking on debt at interest, not withdrawing earnings.

But his higher house price have enabled him to do so, and if you can get that return with these interest rates i say good luck to him.

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You are taking on debt at interest, not withdrawing earnings.

I realised that. It's why I mentioned that I had STR'd before. In this case, an equity withdrawal can generate a far higher return than the mortgage rate.

Personally, I am increasingly wary of keeping money in a bank. My Uncle lives in Cyprus and has first hand experience of the recent "rescues". Now I just leave a float in the bank, use very tax-efficient pensions that hold super-safe assets, have one property to live in, and one conversion in the garden to rent out for a pension or kids to live in if they want.

House prices have got so ridiculous, any reasonable crash to cost-of-build levels (~50%) results in the end of the financial system. Everybody except the financiers lose. Having us all competing for interest bearing money that comes from nothing is a sad joke. It reminds of the workhouse currencies.

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I've been seeing the start of price reductions. Microscopically small but reductions nevertheless.

I'm seeing loads of drops ( no sales falling through strangely, which I attribute to no sales :lol: ) but I am still seeing some really reqally absurd asking prices.

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House prices have got so ridiculous, any reasonable crash to cost-of-build levels (~50%) results in the end of the financial system.

Do you think this is correct? How exposed are the banks?

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Do you think this is correct? How exposed are the banks?

Its the banks lending the money, no Zopa mortgages yet.

2007 saw the UK banking system close to collapse after just a 20% drop in house prices. Net mortgage lending has been positive every year since then.

"The Default Line" by Faisal Islam (ex Economics Editor for channel 4) news gives a good view on the top-level discussions that were going on at the time. We were very close to getting the whole UK banking system nationalised.

What has really changed since then?

Bankers/politicians just bought themselves some time to continue the looting.

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