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Better than the 0.2% expected.

FFS

Quote

The annual rate of house price growth was little changed in February at 4.5%, only slightly higher than the 4.3% recorded in January. House prices increased by 0.6% over the month, after taking account of seasonal factors.

Recent data suggests that the UK economy has continued to perform relatively strongly. The economy accelerated slightly in Q4, expanding by a healthy 0.7% quarter-on-quarter, and the unemployment rate remained stable at an 11-year low of 4.8%.

 

All is well.

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/2017/Feb_2017.pdf

Edited by Oliver Sutton

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I'm afraid that the latest batch of QE and the Term Funding Scheme are going to give house prices a further boost that none of us want to see.

The lack of knowledge about the tax changes means many BTLers wont consider selling up until they've received their tax bills in 2018.

Either we get a change in ideology among our leadership, or an external event forces a correction. Until then, it's a case of as you were, with HP annual growth rates ticking along in the region of 5%. The falls in London will be masked by rises elsewhere.

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6 minutes ago, rantnrave said:

 The falls in London.. 

It's really just a few spots in PCL isn't it. The prices in suburbs are still sky high. 

Earlier this month Foxtons also hit 67 branches in the capital after opening Wembley and Wood Green, a record high. Some 'downturn'.. 

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18 minutes ago, rantnrave said:

I'm afraid that the latest batch of QE and the Term Funding Scheme are going to give house prices a further boost that none of us want to see.

The lack of knowledge about the tax changes means many BTLers wont consider selling up until they've received their tax bills in 2018.

Either we get a change in ideology among our leadership, or an external event forces a correction. Until then, it's a case of as you were, with HP annual growth rates ticking along in the region of 5%. The falls in London will be masked by rises elsewhere.

Yip. As many of us expected...handing out 100billion to banks if they lower rates and hand it out to anyone that is daft enough to take it has pushed up prices. Everywhere is booming....while people can't afford to eat.

 

Some 'upturn'

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3 minutes ago, TheCountOfNowhere said:

Yip. As many of us expected...handing out 100billion to banks if they lower rates and hand it out to anyone that is daft enough to take it has pushed up prices. Everywhere is booming....while people can't afford to eat.

 

Some 'upturn'

Not just the banks. Private Non-Financial Corporations (PNFCs) and Non-Bank Credit Providers (NBCPs) are also getting a share of the loot.

This must be what the Tory boys mean when they talk about the benefits of the 'free market'... :lol:

 

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4 minutes ago, Shea VanHaven said:

Bring it on.

When all those BTLs hit in April, and nobody can buy them- who give a fukk what Rightmove thinks.

Why will BTLers consider selling up in April?

We may be aware of the answer, but most of them aren't.

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Proabably getting some huge variations now as the ripple fans out. My guess is areas like  Cambridge and Central london tanking and a slowing ripple heading north. Probably at its zenith now in Norfolk, Leicestershire, Warwickshire and Gloucestershire, with hardly any stock and over 50% sold.

Anybody expecting National stats to dip to zero this year are likely to be disappointed  imo. North of the the ripple, Derbyshire, Shropshire, North Lincs, prices are still only up 11% on 2006, less than 1% pa. Compare that to +50% in the south.

The ripple may, of course, stop dead before it reaches the N Mdlands and the North; we will have to see.

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35 minutes ago, rantnrave said:

Why will BTLers consider selling up in April?

We may be aware of the answer, but most of them aren't.

Well I'm out on my ear, and know of about a dozen others.  BTLB's are getting them sloshed over with magnolia as we speak..

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5 minutes ago, crashmonitor said:

Proabably getting some huge variations now as the ripple fans out. My guess is areas like  Cambridge and Central london tanking and a slowing ripple heading north. Probably at its zenith now in Norfolk, Leicestershire, Warwickshire and Gloucestershire, with hardly any stock and over 50% sold.

Anybody expecting National stats to dip to zero this year are likely to be disappointed  imo. North of the the ripple, Derbyshire, Shropshire, North Lincs, prices are still only up 11% on 2006, less than 1% pa. Compare that to +50% in the south.

The ripple may, of course, stop dead before it reaches the N Mdlands and the North; we will have to see.

IIRC,  Corby was the one that had the massive rises, andthen the massive falls last time... (?)

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7 minutes ago, Shea VanHaven said:

IIRC,  Corby was the one that had the massive rises, andthen the massive falls last time... (?)

Proabably true, the higher they have risen the heavier they might fall. And yep East Anglia across to Northamptonshire always seem to get the largest price movements either way outside the Home Counties.

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8 minutes ago, ASBEAR said:

Is the number of approved mortgage decreasing btw? Cant tell it from the report.

Release Date Time Actual Forecast Previous  
Mar 01, 2017 (Jan) 04:30 69.93K 68.65K 68.27K  
Jan 31, 2017 (Dec) 04:30 67.90K 69.00K 67.46K  
Jan 04, 2017 (Nov) 04:30 67.50K 67.40K 67.37K  
Nov 29, 2016 (Oct) 04:30 67.52K 65.00K 63.59K  
Oct 31, 2016 (Sep) 04:30 62.93K 61.50K 60.98K  
Sep 29, 2016 (Aug) 03:30 60.06K 60.15K 60.92K  
Aug 30, 2016 (Jul) 03:30 60.91K 61.90K 64.15K  
Jul 29, 2016 (Jun) 03:30 64.77K 65.65K 66.72K  
Jun 29, 2016 (May) 03:30 67.04K 65.25K 66.21K  
Jun 01, 2016 (Apr) 03:30 66.25K 67.95K 70.31K  
Apr 29, 2016 (Mar) 03:30 71.36K 74.50K 73.19K  
Mar 31, 2016 (Feb) 03:30 73.87K 73.50K 74.08K  

    

Approvals came in higher than expected (ONS) - highest since June 2016

https://www.investing.com/economic-calendar/mortgage-approvals-211

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28 minutes ago, moneyscam said:

 

Release Date Time Actual Forecast Previous  
Mar 01, 2017 (Jan) 04:30 69.93K 68.65K 68.27K  
Jan 31, 2017 (Dec) 04:30 67.90K 69.00K 67.46K  
Jan 04, 2017 (Nov) 04:30 67.50K 67.40K 67.37K  
Nov 29, 2016 (Oct) 04:30 67.52K 65.00K 63.59K  
Oct 31, 2016 (Sep) 04:30 62.93K 61.50K 60.98K  
Sep 29, 2016 (Aug) 03:30 60.06K 60.15K 60.92K  
Aug 30, 2016 (Jul) 03:30 60.91K 61.90K 64.15K  
Jul 29, 2016 (Jun) 03:30 64.77K 65.65K 66.72K  
Jun 29, 2016 (May) 03:30 67.04K 65.25K 66.21K  
Jun 01, 2016 (Apr) 03:30 66.25K 67.95K 70.31K  
Apr 29, 2016 (Mar) 03:30 71.36K 74.50K 73.19K  
Mar 31, 2016 (Feb) 03:30 73.87K 73.50K 74.08K  

    

Approvals came in higher than expected (ONS) - highest since June 2016

https://www.investing.com/economic-calendar/mortgage-approvals-211

They're handing out money that's been magiced out of thin air.


What to people expect.

Until the BoE is sorted out and the bankers regulated they'll just keep stealing from people.

Britains very own sub-prime crisis.

Edited by TheCountOfNowhere

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13 minutes ago, TheCountOfNowhere said:

They're handing out money that's been magiced out of thin air.


What to people expect.

Until the BoE is sorted out and the bankers regulated they'll just keep stealing from people.

Britains very own sub-prime crisis.

One of the main recipients of all these props, Taylor Wimpey, whose shares were trading at 7 pence after the crash. Yesterday's results showed a Company with zero debt a land bank of 5.5 years and a net profit margin of a staggering 20%. Every home makes 50k for shareholders and 25k of that is handed out as a dividend,. Still cautiously trading at p/e of 10, once bitten twice shy i guess.

 

http://www.telegraph.co.uk/business/2017/02/28/taylor-wimpey-builds-solid-housing-market-posts-profit-surge/

Meanwhile the FTSe 100 has just shot up again into uncharted territory. Last party before the storm, or just the first of many parties; God knows.

Edited by crashmonitor

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40 minutes ago, buckers said:

The plan has always been to keep this mess afloat using all measures until a better economy comes along to save us all......

Yes indeed. With Barwell's micro-houses now adding another rung to the bottom of the ladder.

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38 minutes ago, buckers said:

The plan has always been to keep this mess afloat using all measures until a better economy comes along to save us all......

I quite aggree this party will be attempted to keep going at all costs. It poses a quandry to people like me with 100k plus in cash waiting to buy a home do we buy now (homes i am looking at are now £1200 more expensive than last month) my interest has been a small fraction of that. Do I as a first time buyer go now assuming we are more likely to have a currency crisis than let house prices fall? The taps of credit are still fully on (and loosened further by Carney yesterday), Grandparents downsizing are having no problems selling but more difficulty buying a smaller property (and the price differential is insanely small). Many of my peers have used nationwide for mortgages so perhaps they are skewed towards FTB.

Either way this is disappointing news another year of life on hold waiting for something to occure that my colleagues, friends and family say will never happen. Another year of my financial credability being wrecked (there is only so long one can call a market wrong and believe corrections will occur due to MMR, S24, basle III before credibility is lost). Most disappointing is the increase in mortgage approvals. We (on HPC) know what drives house prices is credit and nationwide have a 5 year fix for 1.99% (gets you around MMR as it 5 years and push out the mortgage term to 30+ years to lower the repayments) so getting hold of credit isn't a problem. So for the foreseable future I cannot see much change in this measure untill those monthly repayments get worse. This means intrest rate rises and I cant see that happening any time soon.

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3 hours ago, Shea VanHaven said:

Well I'm out on my ear, and know of about a dozen others

Add me to that list... my landleech is selling up too!

We've been looking for a new hole to throw all of our hard earned cash into... I've never seen so many 'For Sale' signs up in the smaller more affluent areas local to us in Devon. I mean everywhere you look and nothing is moving.

 

 

 

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19 minutes ago, Society of fools said:

This standfirst on CITYA.M. made me laugh:

UK house price growth was flatter than yesterday's pancakes...

http://www.cityam.com/260050/uk-house-prices-rose-just-600-last-month-

 

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