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rantnrave

Halifax House Prices Leap Up 1.7% In June

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Joy for Homeowners ad infinitum...

Up 1.7% MoM
Up 3.3% QoQ
Up 9.6% YoY

House prices in the latest three months (April-June) were 3.3% higher than in the preceding three months (January-March). The quarterly rate of change picked up following two successive falls.
• Prices in the three months to June were 9.6% higher than in the same three months a year earlier. This was higher than May’s 8.6% and the highest since September 2014 (9.6%).
• House prices increased by 1.7% between May and June; the fourth consecutive monthly rise.
• Home sales higher in May. UK home sales increased by 1.0% between April and May to 98,540. Similarly, sales in the three months from March to May were marginally higher (+0.5%) than in the preceding three months, but were 4.2% lower than in the same period last year. (Source: HMRC, seasonally-adjusted figures)
• Mortgage approvals fell in May. The volume of mortgage approvals for house purchases – a leading indicator of completed house sales – fell by 5% in May. Nonetheless, approvals in the three months to May were 6% higher than in the preceding three months (December 2014-February 2015). (Source: Bank of England, seasonally-adjusted figures)
• Supply remains very tight. The stock of homes available for sale fell again in May to a new record low. New instructions declined in May for the fourth successive month, contributing to the very low levels of supply. At the same time, new enquiries from potential buyers increased in May to its highest level since April 2014, suggesting a modest pick-up in demand. (Source: Royal Institution of Chartered Surveyors’ (RICS) monthly report)
• Nationally, house prices per square metre have risen by 18% since 2010 from an average of £1,719 to £2,033 in 2015 with increases across all regions, according to recent separate research from Halifax. Greater London has experienced substantially faster growth than elsewhere in Britain with an average increase of 45%. The South East (22%) recorded the next biggest rise. Price increases have been much more modest in many other parts of the country with the smallest rises in the North (3%) and Scotland (5%).


At least the budget will keep this story out of the news.

Still, it's a big :(

Edited by rantnrave

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v Nationwide last week which showed 9 of 13 regions in UK rose less than 2% compound over the last 10 years.

RPI has been 3% in these 10 years.

#turningjapanese

Edited by Killer Bunny

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Ah ****** it, there's way more to life than house prices. The higher this goes the less I care, it's just so far past any kind of sanity that I find it more funny than distressing now.

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Halifax YoY rising and now approaching double digits

Nationwide YoY falling, at 3% and trending toward zero

One of these two datasets is significantly wrong.

Edited by rantnrave

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Crazy. This is not being reflected in what I am seeing on rightmove and locally on the ground.

Are they just making it up now ?

I think they must be. I just dont see this anywhere in the south west.

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I find these figures puzzling.

Only this morning on radio Wales they were talking to Henry Prior who said the cuts to housing benefits could see house prices go down, and this trend had already started as illustrated by the fact Land Registry prices are already showing a trend towards lower prices,

And I too, during my searches, am not seeing any increases reflected on Rightmove, just lots of daily price reductions, and sales falling through, along with the odd "sold" sitting there for months on end.

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A couple of friends of mine have splashed out 930k on a semi-detached in Pinner (after not being able to sell their own!!!) They are also going to gut the place (another 100k!!!)

They're using the thoretical equity from their non-sold house, the rent they'll be getting (constantly of course with no voids or repairs :rolleyes: ) BOMAD X 2 and all their savings.

Incredible stupidity of the few skewing figures?

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A couple of friends of mine have splashed out 930k on a semi-detached in Pinner (after not being able to sell their own!!!) They are also going to gut the place (another 100k!!!)

They're using the thoretical equity from their non-sold house, the rent they'll be getting (constantly of course with no voids or repairs :rolleyes: ) BOMAD X 2 and all their savings.

Incredible stupidity of the few skewing figures?

Give them a couple of months and they'll probably be calling themselves accidental landlords. Because they accidentally wanted too much for their other house and accidentally couldn't get it.

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The higher they go.

The less that will buy and the more chance of us getting a half decent rental sector run by corps. and not by chancers.

Just like the cornershop and pub I see the Englishman and his home becoming a relic of the past.

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Give them a couple of months and they'll probably be calling themselves accidental landlords. Because they accidentally wanted too much for their other house and accidentally couldn't get it.

They already are.

They put their house on the market for 650k (bog standard semi). no interest for a year, eventually accepted an offer for 565k - fell through (MMR?).

So they decided to rent it out as (get this) 'it's a buyer's market', then promptly manage to knock off a 'savvy' 20k from a 950k price tag on the place they're buying. Their seller must be laughing all the way to the Camen Islands.

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Halifax YoY rising and now approaching double digits

Nationwide YoY falling, at 3% and trending toward zero

One of these two datasets is significantly wrong.

One of these two data sets in produced by a government owned bank......just saying like

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One of these two data sets in produced by a government owned bank......just saying like

Didn't Halifax Index just get sold off to an American company ? Edited by pig

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.. in Pinner..

Place deserves to crash hard. Serious nutters out there. Many people paying over 1m+ for houses bought at a fifth of that price a decade or two ago. Know someone who paid just over 1m: Late 30s,first home, big BOMAD + deposit from contracting + interest only. Works on a 6mth rolling contract in finance, partner unemployed. Madness..

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I think they must be. I just dont see this anywhere in the south west.

I'm in the South West, asking prices in the last 6 months have gone silly round our way.

Having said that hardly anything is moving. When I go onto Rightmove's draw a search covering my area I now have to zoom in 3/4 times to separate

the blue tags that mark each property.

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One of these two data sets in produced by a government owned bank......just saying like

The Nationwide index exceeded its 2007 peak a year ago. Adjusted for RPI, Halifax is still showing the greater fall from peak:

HPC_HalifaxVsNwide0615.gif

[NB: June 2015 RPI has been estimated)

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