rantnrave Posted August 6, 2020 Share Posted August 6, 2020 Data out in the morning Quote Link to comment Share on other sites More sharing options...
user not found Posted August 6, 2020 Share Posted August 6, 2020 4 hours ago, rantnrave said: Data out in the morning I'm scared to look. We're in mania phase I believe. Quote Link to comment Share on other sites More sharing options...
adarmo Posted August 6, 2020 Share Posted August 6, 2020 I going to go with above zero but less than nationwide. Quote Link to comment Share on other sites More sharing options...
msi Posted August 6, 2020 Share Posted August 6, 2020 My submission for Halifax HPI Bingo "Pent up demand" "Strong recovery" "Buyers Affordability strengthened by Stamp Duty Holiday" Quote Link to comment Share on other sites More sharing options...
Sithuk Posted August 7, 2020 Share Posted August 7, 2020 "House prices in July 2020 were 3.8% higher than the same month a year earlier." https://www.halifax.co.uk/media-centre/house-price-index.html Quote Link to comment Share on other sites More sharing options...
richmondtw Posted August 7, 2020 Share Posted August 7, 2020 8 hours ago, msi said: "Pent up demand" "Strong recovery" "Buyers Affordability strengthened by Stamp Duty Holiday" All of which is probably true Quote Link to comment Share on other sites More sharing options...
Tulip_mania Posted August 7, 2020 Share Posted August 7, 2020 In July 2019, the July 2019 price was £236,120. In July 2020 it is £232,706. So is £241,604 a 3.8% rise or a 2.3% rise? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 7, 2020 Author Share Posted August 7, 2020 Within a matter of weeks, any savings from the stamp duty cut have been cancelled out by higher prices... Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted August 7, 2020 Share Posted August 7, 2020 The increase is a direct result of vendors trousering the Stamp Duty “holiday”, it would be interesting to look at the change in Welsh prices over £250k, were no holidays are applied, and therefore the discount actually applies to FTB’ers. But that would be more genuine, and fly in the face of those balls-deep V.I.’s. Quote Link to comment Share on other sites More sharing options...
Switch625 Posted August 7, 2020 Share Posted August 7, 2020 3 minutes ago, “Nasty Piece of work” said: The increase is a direct result of vendors trousering the Stamp Duty “holiday”, it would be interesting to look at the change in Welsh prices over £250k, were no holidays are applied, and therefore the discount actually applies to FTB’ers. But that would be more genuine, and fly in the face of those balls-deep V.I.’s. So it did exactly what it was supposed to do. Nothing to see here. Move on! Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted August 7, 2020 Share Posted August 7, 2020 5 minutes ago, “Nasty Piece of work” said: The increase is a direct result of vendors trousering the Stamp Duty “holiday”, it would be interesting to look at the change in Welsh prices over £250k, were no holidays are applied, and therefore the discount actually applies to FTB’ers. But that would be more genuine, and fly in the face of those balls-deep V.I.’s. Interesting point. Let's imagine the Welsh border cuts through a street with totally identical houses on either side. The houses on the English side cost £400k; what do the Welsh houses cost? Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted August 7, 2020 Share Posted August 7, 2020 Some people are dumb aren't they Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted August 7, 2020 Share Posted August 7, 2020 Irrelevant. Sales are very low. Quote Link to comment Share on other sites More sharing options...
msi Posted August 7, 2020 Share Posted August 7, 2020 11 hours ago, msi said: My submission for Halifax HPI Bingo "Pent up demand" "Strong recovery" "Buyers Affordability strengthened by Stamp Duty Holiday" 2 out of 3 ! Press Release Quote Link to comment Share on other sites More sharing options...
PaulTW Posted August 7, 2020 Share Posted August 7, 2020 https://www.theguardian.com/money/2020/aug/07/surprise-as-uk-house-prices-set-record-after-four-months-of-falls Russell Galley MD at Halifax: “The average house price in July is the highest it has ever been since the Halifax house price index began, and 3.8% higher than a year ago. “The latest data adds to the emerging view that the market is experiencing a surprising spike post-lockdown.” “Supported by the government’s initiative of a significant cut in stamp duty, and evidence from households and agents suggesting that confidence is currently growing, the immediate future for the housing market looks brighter than many might have expected three months ago.” What a tw@, revelling in government intervention and keeping the information flowing that a house is a one-way speculative asset and not a human necessity. Quote Link to comment Share on other sites More sharing options...
Clarky Cat Posted August 7, 2020 Share Posted August 7, 2020 This was always going to happen - 4 months of zero activity followed by a stimulus bringing forward demand. The government will point to the less than expected decline in GDP as a success - but how much is simply caused by pumping house prices and hence imputed rents. We'll see how it is once the reality of the situation hits home! Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted August 7, 2020 Share Posted August 7, 2020 7 minutes ago, Clarky Cat said: This was always going to happen. Agreed - the mutual masterbation of BS’s and the brown envelope party would only be topped by the inclusion of EA’s and the Builders. If Joe Public wasn’t so thick, they would be crying, and the PP “reforms” have yet to be implemented! Quote Link to comment Share on other sites More sharing options...
captainb Posted August 7, 2020 Share Posted August 7, 2020 Rates 0.1%, inflation estimated to be 0% this year and only hitting 2% in two years so no pressure to raise.. Not everyone outside of this forum, cough, is sold on hyperinflation. If your repayment mortgage can be fixed cheaper than your rent its not an irrational trade. Far from it. Until that situation changes talk of 20%plus falls is fantasy land. Quote Link to comment Share on other sites More sharing options...
Wayward Posted August 7, 2020 Share Posted August 7, 2020 Have the UK's young and those without established housing wealth ever had it so bad? In living memory? Job prospects dire and wages falling and yet the cost of shelter deliberately inflated by HMGov... Quote Link to comment Share on other sites More sharing options...
Wayward Posted August 7, 2020 Share Posted August 7, 2020 (edited) ....and of course a burden of debt and future tax liability that is off the chart. Edited August 7, 2020 by Wayward Quote Link to comment Share on other sites More sharing options...
blackhole Posted August 7, 2020 Share Posted August 7, 2020 Stamp duty + pent up demand driven calm before the storm. Meanwhile everyone's favourite pet rocks / cryptos also heading to the moon. Who's right? Find out soon I guess. Quote Link to comment Share on other sites More sharing options...
MarkD Posted August 7, 2020 Share Posted August 7, 2020 It used to be 'save the women and children first' ! Quote Link to comment Share on other sites More sharing options...
Former postman Posted August 7, 2020 Share Posted August 7, 2020 Bull trap. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted August 7, 2020 Share Posted August 7, 2020 https://www.bbc.co.uk/news/business-53693149#comp-comments-button The top rated comments are basically what you would find here now, which is a marked difference from a decade ago. not sure it does anyone any good, but at least people have woken up. Quote Link to comment Share on other sites More sharing options...
ianbeale Posted August 7, 2020 Share Posted August 7, 2020 Could it be that something else is at play here. The stamp duty holiday delivers more benefit to a 500k house (15k) than to a 250k house (5k). This has led to more high value houses being sold than lower ones. In this scenario the average house price will rise even if actual individual prices stayed the same. Your thoughts? Quote Link to comment Share on other sites More sharing options...
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