Jump to content
House Price Crash Forum
Digsby

Nationwide Hpi Down 0.1% In Feb

Recommended Posts

I think it mostly happened in the second half of the month. As I noted in the Prime London thread, my analysis of asking prices had shown reductions limited to London until the middle of the month, and then slowly, they started to happen in the other areas I monitor, not as much, but creeping in. I wouldn't be surprised if the next month, the index moves to -0.2% or -0.3%.

Share this post


Link to post
Share on other sites

Don't worry, the BBC are in full swing this morning telling us houses are cheap compared to 2007.

but fecking ridiculously expensive compared to 1997!

Share this post


Link to post
Share on other sites

From the NW report; prices same as June 2014; no growth for last 8 months:

Note also that the average price has been falling since November on a non-seasonally adjusted basis.

Share this post


Link to post
Share on other sites

Primish London is taking indexes down ...

London prime isn't representative of the UK as a whole. It should be removed from the index.

(Of course, it's fine to include it when it's rising :P)

Share this post


Link to post
Share on other sites

Lending data out today from the BoE.

No material uplift in approvals for house purchase in January despite record low mortgage rates and the stamp duty changes. However there was a sharp jump in the average approval value, up from 164K in Dec to nearly 176K in Jan.

MortApprovals0115.gif

AvApprovalValue0115.gif

Total approvals fell slightly:

TotalApprovals0115.gif

http://www.bankofengland.co.uk/statistics/documents/mc/2015/jan/moneyandcredit.pdf

Share this post


Link to post
Share on other sites

Feels like the market is pausing for breath. We've been here before of course. In 2005, things looked a bit precarious before another two years of rapid growth kicked in. There was a stall too in 2007, before the full nature of the global financial crisis became apparent and prices were tumbling by the end of 2008. This time... who knows? The pension reforms, ECB QE and latest scheme to 'help' FTBs make it hard to predict where things go from here. Sanity tells me down, but the market can remain irrational longer than...

Share this post


Link to post
Share on other sites

Is there a regional breakdown? Have scoured the press release for other links but can't find one. Anyone else have any luck with it?

Nationwide (and Halifax) only produce regional figures quarterly. Have to wait until next month's release.

Share this post


Link to post
Share on other sites

Is there a regional breakdown? Have scoured the press release for other links but can't find one. Anyone else have any luck with it?

Not until the next quarterly release, which should be along with the update at the end of March.

Share this post


Link to post
Share on other sites

Feels like the market is pausing for breath. We've been here before of course. In 2005, things looked a bit precarious before another two years of rapid growth kicked in. There was a stall too in 2007, before the full nature of the global financial crisis became apparent and prices were tumbling by the end of 2008. This time... who knows? The pension reforms, ECB QE and latest scheme to 'help' FTBs make it hard to predict where things go from here. Sanity tells me down, but the market can remain irrational longer than...

The difference this time is that London has detached itself from the rest of the country, it was/is in it's own credit bubble. I've seen for myself people selling up in London and paying well over the odds in the shires and in the S.E.

If that has collapsed, as many including myself believe, then we will not only see an accelerating collapsing in London prices but it will take down the surrounding areas.

The London bubble of last year was based on:

  • FLS: Gone
  • Russian investors: Gone
  • Chinese investors: Gone
  • Hype: Gone
  • Media propaganda: Definitely subdues this year
  • Crazy bank lending: Gone ( supposedly ).
  • A pre-election government unwilling to rock the boat: Soon to be gone

I think London is definitely different....it's ****ed.

Also, looking at the tory rhetoric the last 2 days, 20% FTB discount, 200,000 starter homes, it seems they have realised that supporting the housing pyramid maybe aint a good idea any more.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   218 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.