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Halifax April - Up 1.6%

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Given the timing of this release, I'm surprised it wasn't a big fall. At least it wont get much media pick up....

House prices rose 1.6% last month, according to the latest survey from the Halifax, with the annual rate of increase rising slightly to 8.5%.

The increase means the average house price has risen to £196,412.

The Halifax said demand for housing was being supported by several factors, including the improving economy, rising employment and low mortgage rates.

At the same time, it said supply remained "very tight" with a general shortage of properties for sale.

However, the lender said it expected the annual rate of increase to have slowed by the end of the year.

It noted that house price rises were continuing to outstrip increases in average earnings.

"The resulting rise in the level of house prices in relation to earnings should constrain house price growth and activity over the remainder of the year," said Martin Ellis, Halifax's housing economist.

"The annual rate of house price growth is forecast to end the year at 3-5%."

The latest survey from the Nationwide also found price rises picking up

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Halifax and Nationwide are now showing the same rise from the Spring 2009 trough (I've rebased indices to April 2009 = 100).

Land Reg is lagging (although we haven't got April's number yet).

[Two main differences in data sources: 1) LR is England & Wales only vs Haliwide UK. 2) LR includes cash sales vs Haliwide mortgaged sales only.]

LR_HX_NW_0415.gif

-------------

Halifax P/E ratio continues to rise:

HalifaxPERatio0415.gif

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mortgage approvals, probably buy to let idiots.

Not the same as actual sale price. I'm shocked this government owned bank never released this propaganda yesterday.

I hope the tories get a twenty percent rise this year before it all collapses.

This really is insane now.

Edited by TheCountOfNowhere

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Never forget:

Prices are only rising because banks are lending more money to buy the same houses.

No one is dragging anyone in to the banks, including HPCers helping to buy places at these price levels for their daughters, releasing equity from their own homes to do so... parents signing up to debt-contracts to raise that deposit which they'll be paying into their 70s.

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No one is dragging anyone in to the banks, including HPCers helping to buy places at these price levels for their daughters, releasing equity from their own homes to do so... parents signing up to debt-contracts to raise that deposit which they'll be paying into their 70s.

who is actually buying?

As far as I can tell the only people left in are they idiot buy to let types sure of more price gains.

Not a good situation for buyers.

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Halifax and Nationwide are now showing the same rise from the Spring 2009 trough (I've rebased indices to April 2009 = 100).

Land Reg is lagging (although we haven't got April's number yet).

[Two main differences in data sources: 1) LR is England & Wales only vs Haliwide UK. 2) LR includes cash sales vs Haliwide mortgaged sales only.]

LR_HX_NW_0415.gif

-------------

Halifax P/E ratio continues to rise:

HalifaxPERatio0415.gif

Like the rebased chart, but very much skewed by London and the South. Would be a very different chart for the regions excluding London and almost flat for individaul northern regions such as the North East.

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Are they just making it up now?

I've predicted for a while a second crisis with a long bank holiday and not all of them reopening, like the railway bubble.

I can't see it going any other way not. This time around I hope then responsible rot it jail.

Edited by TheCountOfNowhere

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