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Nationwide House Price Index - Sep '21


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37 minutes ago, rantnrave said:

Another month of double digit growth is front page news on the BBC website.

And yet the ONS 5% drop from last month didn't even make the Your Money section of their website.

They are now one of the most biased proponents of the HPI forever mantra, pretty disgusting really from our once respected national broadcaster.

Just for fun I googled their mission statement and number 1 is:

1. To provide impartial news and information to help people understand and engage with the world around them.

Yeah....right!!

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11 minutes ago, Smiley George said:

And yet the ONS 5% drop from last month didn't even make the Your Money section of their website.

They are now one of the most biased proponents of the HPI forever mantra, pretty disgusting really from our once respected national broadcaster.

Just for fun I googled their mission statement and number 1 is:

1. To provide impartial news and information to help people understand and engage with the world around them.

Yeah....right!!

The Guardian's take is a contrast:
UK house price growth slows as end to stamp duty holiday looms | Housing market | The Guardian

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1 hour ago, TheCountOfNowhere said:

ONS Say they fell 5%.

 

Weird.

Lies, damned lies, statistics and economists/stats who work for BSes.

Seriously, all they do is the pick the most flakey numbers, publish them, then revise down later.

 

 

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1 hour ago, rantnrave said:

Another month of double digit growth is front page news on the BBC website.

This graph in their article shows a direction of travel which is likely to break that streak though:
 _120746215_optimised-houseprice-nc.thumb.png.6bce00f793c558b9f1cf1206cd4dab00.png

The most suspicious thing about that graph is that Northern property (Halifaxes  stamping ground) has done relative well - at least till it alls come crashing down.

Whereas Southern (NW ground) esp, London has done v badly.

Massive fabrication going on.

 

 

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1 minute ago, spyguy said:

The most suspicious thing about that graph is that Northern property (Halifaxes  stamping ground) has done relative well - at least till it alls come crashing down.

Whereas Southern (NW ground) esp, London has done v badly.

Massive fabrication going on.

 

 

I posted a report from some French banker bods who'd done an analysis of the UK housing market by scraping the bit property portals.

Some of their figures didn't tally up with UKPL so I contacted them.

The very kindly replied and explained their figures and after checking recently info they declared UKPL and their figures werre a good match.

They they went on to say what they didn't get why the sales volumes declared in the UK just dont match the scrapped data.  So there is either a lot of people in the background buying up everything or the figures are a fabrication designed to prop up sentiment.

I personally have no idea which.

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Not expecting across-the-board falls until November/December at the earliest, as the mania gives way to reality. All good. Zero growth, basically... Nationwide will of course attempt to spin it - as will the meedya, for the good that will do lol!

Edited by gruffydd
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37 minutes ago, TheCountOfNowhere said:

I posted a report from some French banker bods who'd done an analysis of the UK housing market by scraping the bit property portals.

Some of their figures didn't tally up with UKPL so I contacted them.

The very kindly replied and explained their figures and after checking recently info they declared UKPL and their figures werre a good match.

They they went on to say what they didn't get why the sales volumes declared in the UK just dont match the scrapped data.  So there is either a lot of people in the background buying up everything or the figures are a fabrication designed to prop up sentiment.

I personally have no idea which.

I am seeing with my own eyes cabals of landlords in hire purchase German saloon cars hoovering up Leeds terrace houses for offers over. It's like a Harry Enfield sketch as the fleet of joint landlords' beemers and Audis descend on the next house. I fully expect the team from Homes Under the Hammer to relocate to studios in Leeds.

(Sadly I saw them beat one of my neighbours up after he complained about the noise of the machines doing the renovating at anti social hours, ruining the evenings of the long term residents of the street, this is how rampant and unpleasant it has become)

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9 minutes ago, Si1 said:

I am seeing with my own eyes cabals of landlords in hire purchase German saloon cars hoovering up Leeds terrace houses for offers over. It's like a Harry Enfield sketch as the fleet of joint landlords' beemers and Audis descend on the next house. I fully expect the team from Homes Under the Hammer to relocate to studios in Leeds.

(Sadly I saw them beat one of my neighbours up after he complained about the noise of the machines doing the renovating at anti social hours, ruining the evenings of the long term residents of the street, this is how rampant and unpleasant it has become)

Thankfully, they'' eventually lose it all.

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32 minutes ago, Si1 said:

I am seeing with my own eyes cabals of landlords in hire purchase German saloon cars hoovering up Leeds terrace houses for offers over. It's like a Harry Enfield sketch as the fleet of joint landlords' beemers and Audis descend on the next house. I fully expect the team from Homes Under the Hammer to relocate to studios in Leeds.

(Sadly I saw them beat one of my neighbours up after he complained about the noise of the machines doing the renovating at anti social hours, ruining the evenings of the long term residents of the street, this is how rampant and unpleasant it has become)

Sounds like northern cities are going to level up to SE England where 30%+ of properties are in the private rented sector and when a 20/30something buys a normal house everybody raises their eyebrows and wonders which relative died to enable that to happen.

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Mortgage approvals fall as buyers spy 'room for negotiation'

https://www.ftadviser.com/mortgages/2021/09/29/mortgage-approvals-fall-as-buyers-spy-room-for-negotiation/

Mortgage approvals for house purchases ticked down further in August, as the housing market continued to cool and borrowers are increasingly negotiating prices, according to experts.

The Bank of England’s latest Money and Credit report showed remortgage approvals fell from 75,100 in July to 74,500 in August, and remortgage approvals also remained low compared to the months before the pandemic, sitting at 39,700.

Meanwhile, net borrowing in August sat £1.4bn below the 12 month average to June 2021 - the period buoyed by the government’s stamp duty holiday.

Dean Esnard, director at London-based broker Magni Finance, said "August was definitely quieter than the months before. 

“September has picked up again although there is not as much intensity as buyers feel there is more room for negotiation now that the market has cooled down.”

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Liked this quote:

UK house price growth slows but supply-demand imbalance widens – Property Industry Eye

Lucy Pendleton, at estate agents James Pendleton, firmly believes that the “froth has come off” the housing market. “A reality check was probably needed nationwide, and it’s London that is probably more ready to take its medicine,” Pendleton added. “Vendors in the capital have been forced to compose themselves over the past month and more sensible asking prices will ultimately help to underpin demand and transaction levels as we move into 2022.”

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21 minutes ago, rantnrave said:

Liked this quote:

UK house price growth slows but supply-demand imbalance widens – Property Industry Eye

Lucy Pendleton, at estate agents James Pendleton, firmly believes that the “froth has come off” the housing market. “A reality check was probably needed nationwide, and it’s London that is probably more ready to take its medicine,” Pendleton added. “Vendors in the capital have been forced to compose themselves over the past month and more sensible asking prices will ultimately help to underpin demand and transaction levels as we move into 2022.”

they use such nonsense complex flowery language to hide underlying simple trivial processes

 

why use one sentence when you can use ten?

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41 minutes ago, rantnrave said:

Liked this quote:

UK house price growth slows but supply-demand imbalance widens – Property Industry Eye

Lucy Pendleton, at estate agents James Pendleton, firmly believes that the “froth has come off” the housing market. “A reality check was probably needed nationwide, and it’s London that is probably more ready to take its medicine,” Pendleton added. “Vendors in the capital have been forced to compose themselves over the past month and more sensible asking prices will ultimately help to underpin demand and transaction levels as we move into 2022.”

at 20x local earnings.

 

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20 minutes ago, Si1 said:

they use such nonsense complex flowery language to hide underlying simple trivial processes

 

why use one sentence when you can use ten?

It's to make themselves appear intelligent, spiv 2nd hand salesman syndrome.

Most intelligent people I know dont say much

a) They're usually socially disjoint

b) They're busy thinking/working

c) When they do talk, you have no f**king idea what they are actually saying.

d) They don't need to tell everyone else what to think.

e) They're not trying to rob you

f) They're not trying to sell you some crap idea that can be easily disproved.

 

Gotta love a stereotype.

The Big Bang Theory" The Monopolar Expedition (TV Episode 2009) - Jim  Parsons as Sheldon Cooper - IMDb

 

versus


Minder, Arthur Daley - Grass growing on the Car! - YouTube

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