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Halifax Mar '21


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Average house price hits new record high as market picks up momentum in March. 

“A year on from the early days of the first national lockdown, March’s data shows that house prices rose by 6.5% annually, or £15,430 in cash terms. Casting our minds back 12 months, few could have predicted quite how well the housing market would ride out the impact of the pandemic so far, let alone post growth of more than £1,000 per month on average.

Even Halifax are surprised!

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46 minutes ago, TheCountOfNowhere said:

Crazy.....you know what I'm gonna ask now....how much did they fiddle last months ?

Yup, they fiddled the figures for the 173rd month in a row.

Luckily, out in the real world we know different which is why buying a house is easy and cheap now!

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54 minutes ago, dugsbody said:

Yup, they fiddled the figures for the 173rd month in a row.

Luckily, out in the real world we know different which is why buying a house is easy and cheap now!

It’s painful isn’t it. All fits so far with what I predicted at the start of this year - rise of about 5% for 2021. Of course come December’s figures the same few people will be crying it’s all fiddled figures for the 182nd month in a row. Houses in my area continue to go SSTC within days of being put up for sale, mortgage market busier than ever, but of course the usual suspects here know better.

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The impact of the stamp duty exemption has been huge.

Our (rented) house went on the market in Feb 2020. Not one view. Eventually it was taken off the market. Landlords agreed to rent it to us for another full year (we did not want to stay on unless we could stay for a full year).

It was put back on the market last month, in order to try and sell before the stamp duty deadline. There were five viewings in the first week, offer close to the asking price the following week (by which time a  more people had wanted to see it so without the offer there would have been more viewings).

Edited by gp_
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7 minutes ago, Twenty Something said:

It’s painful isn’t it. All fits so far with what I predicted at the start of this year - rise of about 5% for 2021. Of course come December’s figures the same few people will be crying it’s all fiddled figures for the 182nd month in a row. Houses in my area continue to go SSTC within days of being put up for sale, mortgage market busier than ever, but of course the usual suspects here know better.

These banks are now incredibly highly regulated and fiddling benchmarks (this isn't an official benchmark but it is close) is one of the specific areas that gets a lot of scrutiny because of the LIBOR rigging issue.

The idea that they'd risk rigging these benchmarks, while getting everyone involved to keep it secret, just to somehow magically exert an upward pressure on house prices is beyond stupid.

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24 minutes ago, dugsbody said:

These banks are now incredibly highly regulated and fiddling benchmarks (this isn't an official benchmark but it is close) is one of the specific areas that gets a lot of scrutiny because of the LIBOR rigging issue.

The idea that they'd risk rigging these benchmarks, while getting everyone involved to keep it secret, just to somehow magically exert an upward pressure on house prices is beyond stupid.

Yes nonsense to say these numbers are fiddled.

Because of regulation Halifax don't even produce this index themselves. For independence - a third party produces the data.

After the Libor scandal - no one rigs indexes - far too risky.

The risk/reward equation on rigging this index makes it completely implausible.  Remember the risk is on the individual member of staff rigging the index - not on the company so much.

Edited by Neitherland
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A year ago we all thought house prices would fall dramatically and become affordable, 12 months on and prices are up 6.5%.

Buying a house a year ago would have been a massive risk that any sensible person would have avoided. With all the money printing, props and the "economic boom" predicted when lockdown ends I can only see prices going up even more :( 

 

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1 hour ago, GettingBored said:

A year ago we all thought house prices would fall dramatically and become affordable, 12 months on and prices are up 6.5%.

Buying a house a year ago would have been a massive risk that any sensible person would have avoided. With all the money printing, props and the "economic boom" predicted when lockdown ends I can only see prices going up even more :( 

 

but are you proud to be British and a member of the feudalism state.  

 

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1 hour ago, GettingBored said:

A year ago we all thought house prices would fall dramatically and become affordable, 12 months on and prices are up 6.5%.

Buying a house a year ago would have been a massive risk that any sensible person would have avoided. With all the money printing, props and the "economic boom" predicted when lockdown ends I can only see prices going up even more :( 

 

Speak for yourself, I predicted they would go up.

I'm predicting they'll go down now.   This is proper end of a mania stuff now.  There is no housing market, even an ex-MPC member is warning about this insanity.

 

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