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TheCountOfNowhere

Nationwide....bbc Reporting Yearly Trend Is Down.

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Saw this on freeview teletext that Mom figures are 0,.3% up but YPOY has dropped to 4.6 and most significantly the nationwide says the Yoy fall trend has resumed....

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The most interesting thing on the BBC website report is that cash sales are at an all time high 38%. People cashing in pension pot or has the number of mortage buyers gone down?

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Where are these people suddenly getting piles of cash from??

Maybe many jumped the gun on pension cash-outs, liquidating other assets knowing they could replenish later.

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From the report

Over the longer term we would expect house price growth to converge with earnings growth, which has typically been around 4% per annum.

:blink:

Yet another reason that I will not enter the market.

Edited by LiveinHope

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The most interesting thing on the BBC website report is that cash sales are at an all time high 38%. People cashing in pension pot or has the number of mortage buyers gone down?

Number of mortgage buyers down:

The actual number of cash buyers, rather than the proportion, has risen slightly since 2008, but has still not reached the peak seen during the housing boom of 2007.

So this appears to be a case of the BBC reporting a new peak in anything housing market related just to keep that feel good factor rolling ever onwards.

Next month: "New Peak in Housing Market Stupidity - Sellers 98% stupid this month as opposed to 97% before"

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Overseas lending appears as cash.

All those Far Eastern buyers of 'investment' properties in London basically.

Surely people downsizing, or buying similar priced property will also appear as cash.

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I'm sure if there was 4% pay rises going on the likes of Network rail wouldn't be threatening to strike ...

Any of the Twitterati out there who would like to question Nationwide on this claim?

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