rantnrave Posted December 6, 2020 Share Posted December 6, 2020 Data out 08.30 on Monday Quote Link to comment Share on other sites More sharing options...
danlee74 Posted December 6, 2020 Share Posted December 6, 2020 Disappointingly but predictably up. Does anyone really expect anything else? The majority of the UK populace are idiots who think that an expensive and ever rising price of shelter is a good thing and should be celebrated. Quote Link to comment Share on other sites More sharing options...
Staffsknot Posted December 6, 2020 Share Posted December 6, 2020 They wouldn't be offering 90% mortgages if it wasn't good so agree will be daftly up Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted December 6, 2020 Share Posted December 6, 2020 (edited) The majority of the UK populace are idiots who think that an expensive and ever rising price of shelter is a good thing and should be celebrated. Perhaps the majority of the UK populace who have bought a house are just getting on with their lives & enjoying their homes, rather than sitting on here for years on end being all salty. Edited December 6, 2020 by Martin_JD Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted December 6, 2020 Share Posted December 6, 2020 (edited) I think the Index will be up, of course, as has been the trend for this year Edited December 6, 2020 by Martin_JD edit Quote Link to comment Share on other sites More sharing options...
mark hughes Posted December 6, 2020 Share Posted December 6, 2020 Disappointingly but predictably up. Does anyone really expect anything else? The majority of the UK populace are idiots who think that an expensive and ever rising price of shelter is a good thing and should be celebrated. That's really what has been said on the site for 15 years. Quote Link to comment Share on other sites More sharing options...
spacedin Posted December 6, 2020 Share Posted December 6, 2020 A bit off topic but how much does this feel like 2007/8 to you? It doesn't at all to me. I'm no economist, it feels like we haven't really had an economic shock. I remember in 2008 when the shops were desperately trying to shift their stock, massive reductions everywhere. Right now it just feels a lot of them have been propped up temporarily by the government for fear this might happen. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 6, 2020 Share Posted December 6, 2020 A bit off topic but how much does this feel like 2007/8 to you? It doesn't at all to me. What about 1989? Quote Link to comment Share on other sites More sharing options...
satsuma Posted December 6, 2020 Share Posted December 6, 2020 It’s more like 2008, prices out of control etc. I don’t think we have the same subprime lending but we do have an economic shock so more like the 80’s in some ways. Quote Link to comment Share on other sites More sharing options...
househunter123 Posted December 6, 2020 Share Posted December 6, 2020 I think it's fair to say that most, if not all of us were wrong about the house crash starting around now. Earlier in the year, 6 months ago or so, we were anticipating things would start to crumble around now but nothing of the sort has happened. Getting on the ladder has just become that much more difficult. If affects aren't felt now, don't think they will. Pessimistic I know. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 6, 2020 Share Posted December 6, 2020 I think it's fair to say that most, if not all of us were wrong about the house crash starting around now. Earlier in the year, 6 months ago or so, we were anticipating things would start to crumble around now but nothing of the sort has happened. Getting on the ladder has just become that much more difficult. If affects aren't felt now, don't think they will. Pessimistic I know. Where I am I'm more optimistic. I suspect bottom rung FTB/BTL fodder may be buoyant, but 2nd rung in my area, modest 4 bed family homes in West Leeds, seem to be coming to market a lot and drifting down in price. Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted December 6, 2020 Share Posted December 6, 2020 I think it's fair to say that most, if not all of us were wrong about the house crash starting around now. Earlier in the year, 6 months ago or so, we were anticipating things would start to crumble around now but nothing of the sort has happened. Getting on the ladder has just become that much more difficult. If affects aren't felt now, don't think they will. Pessimistic I know. It’s all this free money, bounce back loans and furlough. Those have to end before I think we will see the damage. Quote Link to comment Share on other sites More sharing options...
captainb Posted December 6, 2020 Share Posted December 6, 2020 It’s all this free money, bounce back loans and furlough. Those have to end before I think we will see the damage. Plenty on here were saying the government would only give BBL to proper companies, great controls yadda Yadda. All absolute nonsense. £35billion later including an estsimed £4billion to organised crime the scale of nonsense has become clearer. Interestingly the biggest % increase has been in properties 50k to 100k typically bought in cash. I wonder why. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted December 7, 2020 Share Posted December 7, 2020 Data out 08.30 on Monday Can you post the actual price increase this time? Save me digging it out and posting it into your thread. Thanks. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted December 7, 2020 Share Posted December 7, 2020 (edited) Forex forecast 0.6. The Halifax index leans towards the Midlands/north as far as I know so I have greater interest in Nationwide's index. Edited December 7, 2020 by Buffer Bear Spelling Quote Link to comment Share on other sites More sharing options...
user not found Posted December 7, 2020 Share Posted December 7, 2020 A bit off topic but how much does this feel like 2007/8 to you? It doesn't at all to me. I'm no economist, it feels like we haven't really had an economic shock. I remember in 2008 when the shops were desperately trying to shift their stock, massive reductions everywhere. Right now it just feels a lot of them have been propped up temporarily by the government for fear this might happen. Shops near me (south coast) have been closing for a few years, a slow stagnation. Many more have quietly closed in lockdown, without fanfare, shuttered due to covid then never reopened. Debenhams has a closing down sale, Argos shuttered, Thornton's ditto. Several phone shops gone. A few independents I noticed have gone. I might go and count them up on the weekend. Quote Link to comment Share on other sites More sharing options...
neon tetra Posted December 7, 2020 Share Posted December 7, 2020 +1.2% MoM, +7.5% YoY What recession? Quote Link to comment Share on other sites More sharing options...
Huggy Posted December 7, 2020 Share Posted December 7, 2020 I've just realised I can now remain solvent longer than the market can remain irrational. Didn't know that was possible. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted December 7, 2020 Author Share Posted December 7, 2020 https://www.halifax.co.uk/assets/pdf/november-2020-house-price-index.pdf Russell Galley, Managing Director, Halifax, said: “House prices rose by more than 1% in November, adding almost £3,000 to the cost of a typical UK home. At just over £253,000, the average property price has risen by more than £15,000 since June. In percentage terms that equates to 6.5% - the strongest five-monthly gain since 2004. “With mortgage approvals at a 13-year high, the current market continues to be shaped by a desire for more space, the move from urban to rural locations and indications of a trend for more home working in the future. And while industry data shows agreed sales and new instructions to sell fell to their lowest in the past five months, both remain at historically high levels and well above seasonal norms. “As the March deadline for the stamp duty holiday approaches, properties sold to home-movers recorded a much higher rate of annual house price inflation (+7.9%) than first-time buyers (+5.8%). It is interesting to note that the stamp duty saving of £2,500 on a home costing £250,000 is now far outweighed by the average increase in property prices since July. “The housing market has been much more resilient than many predicted at the outset of the pandemic, and indeed many households remain confident about further price growth next year. However, the economic environment continues to look challenging. With unemployment predicted to peak around the middle of next year, and the UK’s economy not expected to fully recover the ground lost over 2020 for a number of years, a slowdown in housing market activity is likely over the next 12 months.” Quote Link to comment Share on other sites More sharing options...
simon2 Posted December 7, 2020 Share Posted December 7, 2020 Housebuilder shares ain't liking things so far on the markets. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted December 7, 2020 Share Posted December 7, 2020 +1.2% MoM, +7.5% YoY What recession? Comical. At the same time as being terribly sad. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted December 7, 2020 Share Posted December 7, 2020 It is interesting to note that the stamp duty saving of £2,500 on a home costing £250,000 is now far outweighed by the average increase in property prices since July Kind of what we all knew anyway, but nice that they've called it out directly. Hopefully the penny will start to drop wrt the stamp duty holiday and how mind-bogglingly stupid some have been in their FOMO moments. Quote Link to comment Share on other sites More sharing options...
Pebbles Posted December 7, 2020 Share Posted December 7, 2020 But wait for the usual posters who say BUT MMR BUT rates are going up BUT recession, BUT low volumes. The poll on the top right hand corner shows that over half gotten their house prices epically wrong (think Gordon Brown Gold sale) and only 8% even vaguely right. There has been a perception that property is a one way bet section 24 hasn't stopped two doors down being brought at new peak price by BTL landlord nor the other properties in other search areas i have. I want this market to crash but it is obvious the bank of england and HMG are in no way going to let that happen they would rather wreck the currency first. Anyone who thinks otherwise must have been living under a rock for the last few weeks. Also those who cheered the SDLT removal saying it wouldn't affect prices or get geared up as a deposit seem to have been proved more than a little wrong too. Quote Link to comment Share on other sites More sharing options...
Former postman Posted December 7, 2020 Share Posted December 7, 2020 If the average house has gained £3k+ in value this month and me and my partner are saving between £1.5k-2k a month for a deposit to buy 'an average home', how am I ever supposed to afford one? It seems to me an unsustainable, and frankly absurd situation. Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted December 7, 2020 Share Posted December 7, 2020 Yeah, houses are definitely worth thousands more this month than last month lol Quote Link to comment Share on other sites More sharing options...
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