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rantnrave

Nationwide Index - Yup Still Rising

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Just for the record, thought it's seem's a bit odd from the BBC - pne could say it's coordinated?

House price growth shows 'continued moderation', Nationwide says

Nationwide said house price inflation slowed to 9.0% in October on an annual basis, down from 9.4% in September

House price growth is continuing to show signs of slowing down, according to the UK's second biggest mortgage lender.

Nationwide said house price inflation slowed to 9.0% in October on an annual basis, down from 9.4% in September.

October was the second consecutive month where the annual rate of growth fell, it said.

The trend may continue in the near term, especially in London, Nationwide added.

Edited by Wurzel Of Highbridge

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Good I'm getting richer then... :ph34r:

So what are you going to spend your new found wealth on?

I'm going to have to ring my bank. I see I'm up 9% on the year but I can't see the money going into my bank account. Any ideas when theses gains are credited?

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So what are you going to spend your new found wealth on?

I'm going to have to ring my bank. I see I'm up 9% on the year but I can't see the money going into my bank account. Any ideas when theses gains are credited?

Already spent some of it on the house, having a log burner installed, which should help increase the value of the house even further....

Sadly this is the great economic plan, boost house prices make people feel wealthy and get them spending money they don't have.

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Already spent some of it on the house, having a log burner installed, which should help increase the value of the house even further....

Sadly this is the great economic plan, boost house prices make people feel wealthy and get them spending money they don't have.

I have heard of log burners devaluing a house. look at this one.

grattan-fire2-055122jpg-64520935a2ed79c2

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I can't remember a time when at least one index was not positive. Even in a fast falling market the index producers take it in turns to throw in a contradictory result. There must always be something positive for the VIs to quote.

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So the index that includes cash buyers has dropped and the index that only includes borrowed money is still rising.

Probably means that people who borrow money to buy a house will spend more than a cash buyer.

Indexes moving at fractions of percent are probably rigged anyway.

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Actually, might need a miniscule little bathroom basin on a pedestal as well for that one.

He could let it go in a fire sale.

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EDIT

http://citywire.co.uk/money/why-nationwide-prefers-buy-to-let-landlords-to-first-time-buyers/a489252

Why Nationwide prefers buy-to-let landlords to first-time buyers

342104-System__Resources__Image-356923.j

That link led me, indirectly, to Paragon's criteria page....... http://www.paragon-mortgages.co.uk/pmlmain/pmlland/Criteria

They only ask for a combined income of £25K gross :rolleyes:.

Income

Applicant(s) should have a minimum combined gross annual income of £25,000 per annum

All income must be evidenced

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Oh good. My 20 year old son, who works his **** off for six quid an hour, will be well pleased that the house he'll never be able to afford to move out of has gone up by another couple of grand.

Those responsible for this policy should have their heads on spikes.

What this needs is some bright young entrepeneurs to mobilise the youngsters. Build them massive hostel type places all over the country. Offer individual rooms, shared ones and dorms, and let them pay very low rent. Once the supply of those trying to get on the ladder dries up, the pyramid will collapse.

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Oh good. My 20 year old son, who works his **** off for six quid an hour, will be well pleased that the house he'll never be able to afford to move out of has gone up by another couple of grand.

Those responsible for this policy should have their heads on spikes.

What this needs is some bright young entrepeneurs to mobilise the youngsters. Build them massive hostel type places all over the country. Offer individual rooms, shared ones and dorms, and let them pay very low rent. Once the supply of those trying to get on the ladder dries up, the pyramid will collapse.

what do you expect when 30% of the UKs "industry" is based on Financialisation?

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Jun figure £188,903

Oct figure £189,333

A rise of just over 0.2%

In between, the following monthly changes have been given:

Jul +0.2%

Aug +0.8%

Sep -0.1%

Oct +0.5%

From their website:

Should you wish to make a complaint about the Nationwide House Price Indices, please use the Nationwide Complaint Form (This link will open in a new window), selecting “A recent communication from Nationwide” in the What’s your complaint about box.

https://portal.nationet.com/nationwide/forms/making-a-complaint.asp

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Just like good quality student accommodation really. They could do with that in the cities.

They have those in France. They're called "Foyers de Jeunes Travailleurs".

'Course, that's in France, so it must be wrong.

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Their website has a 5year fix at 2.84% with a £499 product fee. Presumably though if rates keep falling and so do mortgage volumes NW may have a problem. After all they may get to a stage of effectively providing mortgages at near cost to shore up market share. In theory as mutual I suppose they can accept lower profits. They seem to like BTL though.

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Amazing how indicies rise when sales fall off a cliff.....guess it doesn't matter if houses are not selling, it only takes one to set a mark.

Well prices rise for one of two reasons 1) buyers are prepared to pay more for the same sort of house or 2) buyers are prepared to pay the same for a lower grade house.

Scenario 2 is entirely consistent with lower sales volumes, more specifically it indicates that ever more affluent buyers are settling for "starter" homes pushing the price of those up and thus setting the prices for the rest of the market. This can only have the effect of a general price rise so long as transaction volumes are falling.

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