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Halifax Nov 2019 (released Dec)

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Gareth Lewis, commercial director of property lender MT Finance, says it is surprising UK house prices rose in November, according to data from Halifax, especially given the current climate.

"Given that we are still in a period of great uncertainty, with an impending general election and unknown consequences regarding the outcome and impact that will have on Brexit, the uplift in property prices is hugely positive," he said.

"Surprisingly, there is clearly still confidence in the housing market, perhaps boosted by mortgage affordability and job security.

"This suggests people want to buy, although there is an underlying nervousness as to what lies ahead with Brexit or a potential hung parliament.

from the bbc..

 

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So funny how completely unrelated factors related to current affairs are woven into the narrative from each "expert". All they are doing is showing that they have a loose awareness of current goings on, and that these may or may not have anything to do with house prices.

You could make a program to generate comment.

 

The real reasons are rarely mentioned

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this is consistent with my own anecdotal experience - but they dare not say 'it's a bubble' because that's what it is

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2 hours ago, Si1 said:

this is consistent with my own anecdotal experience - but they dare not say 'it's a bubble' because that's what it is

Asking prices incredible in the middle market around here.

Sales meh nothing nice for sale.

Vendors defending said prices for dear life

Offered £440,000 for a place last week under spousal pressure (for sale £490 for 5 months no offers) no chain etc etc

not even a counter offer.

not surprised the prices are heading up but it must be on low volumes. 

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8 minutes ago, Fromage Frais said:

Asking prices incredible in the middle market around here.

Sales meh nothing nice for sale.

Vendors defending said prices for dear life

Offered £440,000 for a place last week under spousal pressure (for sale £490 for 5 months no offers) no chain etc etc

not even a counter offer.

not surprised the prices are heading up but it must be on low volumes. 

It's only sustainable with govt backing. 

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In the town I am in I do a regular 5 mile radius search on rightmove from the centre of town.  About 4 months ago the highest number of properties (not including STC) I had ever seen was about 1680-1700.  A few years ago it was 1550 and gradually it increased over that time and has been up and down between 1600 and 1650 for ages. 

I checked today and it is down to 1439.  Sometimes there seems to be a big cull, but I have never seen it under 1500 in all the years I have been looking (about 4 or 5).

There has been a sudden flurry of buying around here in the last few months and I have noticed a big drop in the number of reductions in the last 3 to 4 months as well.

I am not surprised that prices are being reported as up, hopefully it is a bull trap.

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11 minutes ago, Kyouken said:

In the town I am in I do a regular 5 mile radius search on rightmove from the centre of town.  About 4 months ago the highest number of properties (not including STC) I had ever seen was about 1680-1700.  A few years ago it was 1550 and gradually it increased over that time and has been up and down between 1600 and 1650 for ages. 

I checked today and it is down to 1439.  Sometimes there seems to be a big cull, but I have never seen it under 1500 in all the years I have been looking (about 4 or 5).

There has been a sudden flurry of buying around here in the last few months and I have noticed a big drop in the number of reductions in the last 3 to 4 months as well.

I am not surprised that prices are being reported as up, hopefully it is a bull trap.

Yep. There have been record low fixed rate mortgage too recently iirc?

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27 minutes ago, ElPapasito said:

I would buy now with a looooong fix if I thought IRs were on the rise soon from a record low.  Maybe EAs are feeding that line to people.

 

Yes. I think the election timing is not entirely coincidental. Plus I think long term fixed IRs may be an underestimation of actual long term interest rates.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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