rantnrave Posted September 1, 2020 Share Posted September 1, 2020 Nationwide out at 7am followed by Land Registry later in the morning. Quote Link to comment Share on other sites More sharing options...
PalmerEldritch Posted September 1, 2020 Share Posted September 1, 2020 Nationwide I expect to be up monthly at least 1% reflecting the stamp duty giveaway. Fully expect large falls from Nov/Dec onwards when the Great Recession finally kicks in. Mass unemployment and Brexit aren’t particularly great levers for house price growth. Quote Link to comment Share on other sites More sharing options...
This time Posted September 1, 2020 Share Posted September 1, 2020 Nationwide is going to be something silly like +5%. Land Reg is May? -0.7%. Quote Link to comment Share on other sites More sharing options...
Switch625 Posted September 1, 2020 Share Posted September 1, 2020 Anything less than a return to April figures, pre the latest prop (i.e. £222,915) will be a very positive sign for impending falls. Fully expect it to be above this level though and as @PalmerEldritch points out lots of pain on the way. Quote Link to comment Share on other sites More sharing options...
Doner Kebab Posted September 1, 2020 Share Posted September 1, 2020 Cheers as usual rantnrave. Like all of the above I'm unfortunately expecting another small rise. The more bad news we get the better in my opinion as we move towards the winter. Unemployment up, Remainer press prophesying doom, tax rises. Just need to get this (and possibly next months) stamp duty giveaway, pent up, utter madness house rises and the 2nd quarter GDP 'rebound' and we will hopefully be entering hard cold reality this winter. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 1, 2020 Share Posted September 1, 2020 40 minutes ago, Doner Kebab said: Cheers as usual rantnrave. Like all of the above I'm unfortunately expecting another small rise. The more bad news we get the better in my opinion as we move towards the winter. Unemployment up, Remainer press prophesying doom, tax rises. Just need to get this (and possibly next months) stamp duty giveaway, pent up, utter madness house rises and the 2nd quarter GDP 'rebound' and we will hopefully be entering hard cold reality this winter. +1 Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted September 1, 2020 Share Posted September 1, 2020 Rises are fine for now, whatever, it's what they do to protect against any impending falls that matters Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted September 2, 2020 Share Posted September 2, 2020 Up 2% M-O-M to reach an all-time high, to no-one's surprise...... https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2020/Aug_2020.pdf Quote Link to comment Share on other sites More sharing options...
captainb Posted September 2, 2020 Share Posted September 2, 2020 (edited) Has anyone commented on the mortgages given? Those on here saying "banks are not lending" looking at the july data that was fictional as per ususal https://tradingeconomics.com/united-kingdom/mortgage-approvals Edited September 2, 2020 by captainb Quote Link to comment Share on other sites More sharing options...
Pebbles Posted September 2, 2020 Share Posted September 2, 2020 To be honest there was a few on the stamp duty holiday thread who said it would have little affect. They are looking a bit silly now. Quote Link to comment Share on other sites More sharing options...
Former postman Posted September 2, 2020 Share Posted September 2, 2020 No surprise. Bulltrap Quote Link to comment Share on other sites More sharing options...
adarmo Posted September 2, 2020 Share Posted September 2, 2020 The second the sdlt holiday was given this was baked in. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted September 2, 2020 Share Posted September 2, 2020 The British public are a crowd of blithering simpletons - discuss. The VI’s and Mr Sunak have played a blinder and the public have fallen for it. The FOMO effect post pandemic makes no sense whatsoever if you stop for a second and look at what is actually going on in the UK and world economies. There is plenty of information in the public domain from the likes of the ONS and BOE predicting falls of around 15% by the end of next year. We’re still viewing houses at the minute but the quality is low and asking prices are stupid. We met a rare breed yesterday an honest EA, he spoke about difficulty getting instructions as he try’s to be sensible and set expectations when valuing. One house he valued has gone under offer, at 15k over what he valued at and the vendor rang him up to gloat “see I would’ve lost money if I’d gone with you”. There are 5 houses in the chain he’s just become a part of. The EA’s response, “I’ll see you in 16 weeks when it collapses” Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 2, 2020 Author Share Posted September 2, 2020 20 minutes ago, adarmo said: The second the sdlt holiday was given this was baked in. Yep. Lots of people ready to pay £5k more to save £3k... Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 2, 2020 Author Share Posted September 2, 2020 Data from late August: https://propertyindustryeye.com/demand-for-property-continues-to-soar-bym-index/ Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted September 2, 2020 Share Posted September 2, 2020 23 minutes ago, adarmo said: The second the sdlt holiday was given this was baked in. The first decent frosts will bring the chill of reality and no furlough. Quote Link to comment Share on other sites More sharing options...
captainb Posted September 2, 2020 Share Posted September 2, 2020 (edited) 9 minutes ago, Smiley George said: The British public are a crowd of blithering simpletons - discuss. The VI’s and Mr Sunak have played a blinder and the public have fallen for it. The FOMO effect post pandemic makes no sense whatsoever if you stop for a second and look at what is actually going on in the UK and world economies. There is plenty of information in the public domain from the likes of the ONS and BOE predicting falls of around 15% by the end of next year. We’re still viewing houses at the minute but the quality is low and asking prices are stupid. We met a rare breed yesterday an honest EA, he spoke about difficulty getting instructions as he try’s to be sensible and set expectations when valuing. One house he valued has gone under offer, at 15k over what he valued at and the vendor rang him up to gloat “see I would’ve lost money if I’d gone with you”. There are 5 houses in the chain he’s just become a part of. The EA’s response, “I’ll see you in 16 weeks when it collapses” Although there is little relevance in those figures taken blindly. We all know the economy was shut for 3 months so you expect a fall YoY of that magnitude. What was happening in April to june though is little relevance once we have opened up. What matters is what's the size of the economy jan 21 versus jan 20. Edited September 2, 2020 by captainb Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted September 2, 2020 Share Posted September 2, 2020 I'd be interested to see London vs the rest of the nation... Quote Link to comment Share on other sites More sharing options...
definitelynotanagent Posted September 2, 2020 Share Posted September 2, 2020 28 minutes ago, rantnrave said: Yep. Lots of people ready to pay £5k more to save £3k... you are missing the point of the SDLT holiday. The point with the SDLT holiday is that you don't need to save up an extra 10-15k in cash, so buying becomes a possibility for many, many more people. The extra cost of the house can go onto the mortgage. Quote Link to comment Share on other sites More sharing options...
satsuma Posted September 2, 2020 Share Posted September 2, 2020 It’s a bit like the economic version of the twilight zone. The press are reporting an entire new category of social class, nouveau broke (middle class, high salary, high life, no savings, redundant). The press are reporting sky high House prices (stamp duty holiday, bouncy cheque loans, mania). In the mean time press is reporting tax increases for the self employed! I get it that they are trying to prevent a depression but I’m not liking the method. Quote Link to comment Share on other sites More sharing options...
definitelynotanagent Posted September 2, 2020 Share Posted September 2, 2020 36 minutes ago, Smiley George said: The British public are a crowd of blithering simpletons - discuss. The VI’s and Mr Sunak have played a blinder and the public have fallen for it. The FOMO effect post pandemic makes no sense whatsoever if you stop for a second and look at what is actually going on in the UK and world economies. There is plenty of information in the public domain from the likes of the ONS and BOE predicting falls of around 15% by the end of next year. We’re still viewing houses at the minute but the quality is low and asking prices are stupid. We met a rare breed yesterday an honest EA, he spoke about difficulty getting instructions as he try’s to be sensible and set expectations when valuing. One house he valued has gone under offer, at 15k over what he valued at and the vendor rang him up to gloat “see I would’ve lost money if I’d gone with you”. There are 5 houses in the chain he’s just become a part of. The EA’s response, “I’ll see you in 16 weeks when it collapses” I think a lot of people think that the govt will do whatever it takes to keep house prices high, including helicopter money. If you believe that to be the case, in that scenario, it might not be so stupid to buy a house, as opposed to sitting on a pile of cash and paying rent. Quote Link to comment Share on other sites More sharing options...
satsuma Posted September 2, 2020 Share Posted September 2, 2020 10 minutes ago, definitelynotanagent said: I think a lot of people think that the govt will do whatever it takes to keep house prices high, including helicopter money. If you believe that to be the case, in that scenario, it might not be so stupid to buy a house, as opposed to sitting on a pile of cash and paying rent. Your not wrong, it’s a realistic outcome and helicopter money would allow the government to take final control of every aspect of life, no action untaxed, no market movement without a response, frequent tax changes and frequent bailouts. Quote Link to comment Share on other sites More sharing options...
Voice of Doom Posted September 2, 2020 Share Posted September 2, 2020 From the Guardian's live business blog. here’s a note of caution from Andrew Montlake, managing director at UK mortgage broker, Coreco: “Two words: reality check. As strong as the property market is right now, it will not last. “Demand is understandably strong after lockdown and the added bonus of the stamp duty holiday, but unemployment is rising by the day and the economic outlook is highly uncertain as the furlough scheme ends. “In the final months of the year we will start to see a reversal in the current rate of house price growth, as the true impact of Covid-19 on the economy shows through. Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted September 2, 2020 Share Posted September 2, 2020 Just now, Voice of Doom said: From the Guardian's live business blog. here’s a note of caution from Andrew Montlake, managing director at UK mortgage broker, Coreco: “Two words: reality check. As strong as the property market is right now, it will not last. “Demand is understandably strong after lockdown and the added bonus of the stamp duty holiday, but unemployment is rising by the day and the economic outlook is highly uncertain as the furlough scheme ends. “In the final months of the year we will start to see a reversal in the current rate of house price growth, as the true impact of Covid-19 on the economy shows through. He gets paid how much to state this? Quote Link to comment Share on other sites More sharing options...
Voice of Doom Posted September 2, 2020 Share Posted September 2, 2020 23 minutes ago, the_duke_of_hazzard said: I'd be interested to see London vs the rest of the nation... Me too. I'm looking in London and have only seen one property log change which has gone upwards. Property log yellow pretty much always means a reduction. Quote Link to comment Share on other sites More sharing options...
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