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26 minutes ago, neon tetra said:

The part about the rise being driven by a high volume of London sales indicates this is a sh!t index. How is it trustworthy?

The Guardian did not even pick it up on its business news feed so far, media seem to care less and less about it

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2 hours ago, RomfordDon said:

The big problem with figures showing prices going up is people who would have taken a lower offer will now think I will hold on.

Yes this supports the widely held belief that prices only go up.  As reported in BBC..

https://www.bbc.co.uk/news/business-48199086

Heart warming to note that typically wealthier and older home owners are £82K richer than they were 10 years ago..wealth deliberately transferred to them by TPTB and taken out of the pockets of typically poorer and younger renters.

 

 

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15 minutes ago, Wayward said:

Yes this supports the widely held belief that prices only go up.  As reported in BBC..

https://www.bbc.co.uk/news/business-48199086

Heart warming to note that typically wealthier and older home owners are £82K richer than they were 10 years ago..wealth deliberately transferred to them by TPTB and taken out of the pockets of typically poorer and younger renters.

 

 

Thankfully the BBC have been kind enough to do an affordability calculator. Now you can sleep easy. 

https://www.bbc.co.uk/news/business-23234033

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7 hours ago, Staffsknot said:

It will be reported widely and that is what matters - pushes sentiment that bit more.

Feedback loop

Sentiment doesn't put more money in people's wage packets. Wages are what ultimately pays for housing.

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5 hours ago, Freki said:

The Guardian did not even pick it up on its business news feed so far, media seem to care less and less about it

i wouldnt just say its a **** index i would say its an adulterated index.....which makes its value about the same as a **** sandwich....

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58 minutes ago, Spindler said:

it does however encourage them to borrow to join the party

Fine by me if people want to spunk half their lifetime earnings on repaying the mortgage on a below average house, fewer £ out there for mine to compete with.

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18 hours ago, Trump Invective said:

So we had a 6% increase a couple of months ago, and since then we're pottering along at that 6% higher price level. That was some month!

That was the month the Brexit shambles really shifted up a gear too. I don’t know what everyone is moaning about, simply arguing about Brexit caused the biggest single event of prosperity this country has ever seen according to this index ?

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11 hours ago, giesahoose said:

Stuff is flying where I am. Really not surprised by this news. Scotland the job market is scorching too. Lots of folk chasing good houses. Not sure what would turn the market just now

Is this HappyGuys back up account......? Because I smell.....a

image.png.0dbc088744d92449bece4f0362d7945c.pngTROLL

 

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Halifax House Price Index under fire after posting ‘erratic’ figures

https://www.propertyindustryeye.com/halifax-house-price-index-under-fire-after-posting-erratic-figures/

Questions have been raised about the reliability of the Halifax House Price Index after it recorded a 5% annual boost in property values for April 2019.

The latest report showed house prices were up 1.1% on a monthly basis to £236,619.

But its annual figure has come under scrutiny, especially in comparison to other indices.

The Nationwide House Price Index recorded annual growth at 0.9% during April, while the Land Registry’s figures are similar at 0.6%.

This is the second time that Halifax’s figures have been questioned after it reported a 5.9% monthly increase in February.

Halifax said: “The sharp 5% rise in April’s annual change figure comes against the backdrop of a particularly low growth rate over the corresponding period in 2018, impacting year-on-year comparisons.

“This also factors in a notably high growth figure recorded in February this year, driven by a higher volume of London sales and more expensive new build properties.”

Commentators are more sceptical.

Lucy Pendleton, founder director of independent estate agents James Pendleton, said: “The blistering volatility of this index has returned as the Halifax house price weather vane spins itself into a frenzy once more.

“The index has already come under scrutiny this year after months of erratic monthly growth figures. These can be more sprightly than the smoothed annual and quarterly numbers, but even so, they’ve been turning heads with the extremes with which they have been moving.

“One explanation for ricocheting growth figures like this is persistently low stock levels. In sought after areas, this can lead to demand being supercharged one minute and gone the next.

“Even so, the Halifax index’s behaviour so far in 2019 has been unusual to say the least.”There was also plenty of criticism from housing analysts on Twitter.

 

 

More surreal results from the Halifax index this morning. Strong rise in annual house price growth driven mainly by that 6% m/m gain in Feb, which was not recorded on Nationwide, ONS any other house price index. Highly doubt that house price growth has surged.

 

 

The Halifax house price index is a mess: best to ignore it
I prefer Nationwide, ONS & Rightmove indices for national trends.

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Lets FTSE ..MSCI...CAC40...the DAX...S&P...Russell take a look under the hood of the Halifax index.....i wager they would say its dog ****

 

The know about indices...and have been producing them for a very very long time

Edited by Spindler
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I reckon the Halifax index vis a vis the Property Market  is akin to a friend saying your wife loves you...half an hour after she said she hates your guts and wants a divorce.....the 2 things are so out of whack you know your mate just made it up to make you feel better.....pretty much like the halifax then for the vested interests...

Edited by Spindler
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Isn't this just the return of an old issue that many of us old timers remember, namely that changes like this in the Halifax are actually mostly a indication of changing lending terms and valuations at the Halifax rather than what the market is actually doing overall.

What it is saying is that they relaxed their lending terms in a given month not that HPs overall have gone up.

At a guess they probably had at years worth  of stable data as prices stopped "rocketing" and reassessed their valuation criteria becoming less bearish in some regions. (See thread on buyer not being bale to get mortgage co to agree with seller valuations. They probably realised they were losing market share and responded.

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1 minute ago, koala_bear said:

Isn't this just the return of an old issue that many of us old timers remember, namely that changes like this in the Halifax are actually mostly a indication of changing lending terms and valuations at the Halifax rather than what the market is actually doing overall. 

What it is saying is that they relaxed their lending terms in a given month not that HPs overall have gone up. 

At a guess they probably had at years worth  of stable data as prices stopped "rocketing" and reassessed their valuation criteria becoming less bearish in some regions. (See thread on buyer not being bale to get mortgage co to agree with seller valuations. They probably realised they were losing market share and responded.

Absolutely Halifax use their own mortgage book to generate their data. So really what we could be seeing is a change in lending/risk standards. Stuff is still selling even where I am.

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