regprentice Posted March 7, 2023 Share Posted March 7, 2023 17 minutes ago, Smith said: +1.1% to be clear, Smith iant adding a guess, the actual Halifax number is 1.1% Quote Link to comment Share on other sites More sharing options...
Timm Posted March 7, 2023 Share Posted March 7, 2023 I have to admit, I’m surprised by this. Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted March 7, 2023 Share Posted March 7, 2023 7 minutes ago, Timm said: I have to admit, I’m surprised by this. It’s a ******ing joke. Quote Link to comment Share on other sites More sharing options...
Up the spout Posted March 7, 2023 Share Posted March 7, 2023 ≤1% negative prices, huge slide in demand for mortgages, "homeowners under pressure as inflation still remains stubbornly high" (no mention of renters under same), BoE tweets taking advice from Recep Erdogan on high inflation, Shri Modi promises to sing at King's coronation after Kerry Katona drops out to open new post office Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted March 7, 2023 Share Posted March 7, 2023 12 minutes ago, regprentice said: to be clear, Smith iant adding a guess, the actual Halifax number is 1.1% So, the BOE has even more reason to keep raising rates....... Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted March 7, 2023 Share Posted March 7, 2023 2 minutes ago, dpg50000 said: So, the BOE has even more reason to keep raising rates....... Lol are you kidding or what. This is a good reason to lower IR they can’t wait to go back to 0pc. Quote Link to comment Share on other sites More sharing options...
Itaithalfhotmum Posted March 7, 2023 Share Posted March 7, 2023 Its all so super corrupt. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted March 7, 2023 Share Posted March 7, 2023 From the horses mouth! “The average house price in February was £285,476, 2.1% up on this time last year, and has been stable over the last three months. “When comparing to January, there was a 1.1% increase in house prices through the month of February, although overall prices are flat compared to three months ago. Recent reductions in mortgage rates, improving consumer confidence, and a continuing resilience in the labour market are arguably helping to stabilise prices following the falls seen in November and December. Still, with the cost of a home down on a quarterly basis, the underlying activity continues to indicate a general downward trend. “In cash terms, house prices are down around £8,500 (-2.9%) on the August 2022 peak but remain almost £9,000 above the average prices seen at the start of 2022 and are still above pre-pandemic levels, meaning most sellers will retain price gains made during the pandemic. With average house prices remaining high housing affordability will continue to feel challenging for many buyers.” Quote Link to comment Share on other sites More sharing options...
MrMonkey Posted March 7, 2023 Share Posted March 7, 2023 Quote Kim Kinnaird, Director, Halifax Mortgages, said: “The average house price in February was £285,476, 2.1% up on this time last year, and has been stable over the last three months. “When comparing to January, there was a 1.1% increase in house prices through the month of February, although overall prices are flat compared to three months ago. Recent reductions in mortgage rates, improving consumer confidence, and a continuing resilience in the labour market are arguably helping to stabilise prices following the falls seen in November and December. Still, with the cost of a home down on a quarterly basis, the underlying activity continues to indicate a general downward trend. “In cash terms, house prices are down around £8,500 (-2.9%) on the August 2022 peak but remain almost £9,000 above the average prices seen at the start of 2022 and are still above pre-pandemic levels, meaning most sellers will retain price gains made during the pandemic. With average house prices remaining high housing affordability will continue to feel challenging for many buyers.” Emphasis my own. Anyone reading these figures as a sign of optimism for house price growth, rather than as a warning to exit the market before values start falling more dramatically, is reading what they want to see in the figures and not paying attention to what the signs are actually showing. That this month's figures seem to be greeted with surprise and scepticism by those in the know says a lot about where things are heading. Quote Link to comment Share on other sites More sharing options...
Pebbles Posted March 7, 2023 Share Posted March 7, 2023 57 minutes ago, Timm said: I have to admit, I’m surprised by this. I'm not. this forum got unduly negative on house price outlook. There were some truly wacky figures banded about in this thread showing optimism rather than realism. Round me houses are selling we aren't seeing a crash. Interest rates are still low and the government is paying for people's energy so they can spend that money on servicing the mortgage. I've seen too many false dawn's on here over the last 12 years from the count being so insistent that Mark Carney forward guidance would cause the crash. To spy guys equally iffy predictions about MMR and Basel 3 causing a crash, to poor old bland unsights assertion that BTL would be bankrupt due to section whatever in his wide of the mark famous shloberant. We need more stars to align for the crash to really start. Quote Link to comment Share on other sites More sharing options...
Pebbles Posted March 7, 2023 Share Posted March 7, 2023 (edited) And I want a crash it needs to happen because high house prices are bad. i just don't see enough headwinds yet. Edited March 7, 2023 by Pebbles Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted March 7, 2023 Share Posted March 7, 2023 The wait is still ongoing, as has been repeatedly stated, we need to get into the summer to see what's really happening. This may be indicative of a housing freeze rather than a substantive drop. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted March 7, 2023 Share Posted March 7, 2023 It's a controlled crash, isn't it? Pumping enough zeroes out to keep nominal prices steady. While inflation eats into real values at 10% a year. Quote Link to comment Share on other sites More sharing options...
Pebbles Posted March 7, 2023 Share Posted March 7, 2023 4 hours ago, 24gray24 said: It's a controlled crash, isn't it? Pumping enough zeroes out to keep nominal prices steady. While inflation eats into real values at 10% a year. I can agree with that yes. Not a nominal crash though. And that's what a negative number is on this thread. Quote Link to comment Share on other sites More sharing options...
opt_out Posted March 7, 2023 Share Posted March 7, 2023 7 hours ago, 24gray24 said: While inflation eats into real values at 10% a year. This doesn't satisfy me though, I want house prices to fall faster than my cash and shares ! Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted March 7, 2023 Share Posted March 7, 2023 8 hours ago, 24gray24 said: It's a controlled crash, isn't it? Pumping enough zeroes out to keep nominal prices steady. While inflation eats into real values at 10% a year. Could well be just that, if so the BoE are playing a very dangerous game with inflation. One which could backfire badly, leading to social unrest and the emergence of things I'd rather stayed in their box. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted March 7, 2023 Share Posted March 7, 2023 On 3/6/2023 at 6:46 PM, Blobsy said: I think a healthy rise. We’ve turned a corner, green shoots, spring bounce etc. Glad we managed to avoid the recession and all the gloom and doom has subsided. What a time to be alive! The only way is up! cin cin 🥂 Looks like you called it. Well done. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted March 7, 2023 Share Posted March 7, 2023 10 hours ago, Pebbles said: I'm not. this forum got unduly negative on house price outlook. There were some truly wacky figures banded about in this thread showing optimism rather than realism. Round me houses are selling we aren't seeing a crash. Interest rates are still low and the government is paying for people's energy so they can spend that money on servicing the mortgage. I've seen too many false dawn's on here over the last 12 years from the count being so insistent that Mark Carney forward guidance would cause the crash. To spy guys equally iffy predictions about MMR and Basel 3 causing a crash, to poor old bland unsights assertion that BTL would be bankrupt due to section whatever in his wide of the mark famous shloberant. We need more stars to align for the crash to really start. You forgot FInancial Planners now infamous 'I told you so thread' from early 2020. Like you say too much copium doing the rounds and so many false dawns. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted March 7, 2023 Share Posted March 7, 2023 The BoE models show inflation falling below 2% target in 2024 if rates stay as they are. I've been convinced we've seen inflation peak for a few months now, indeed it's falling albeit slowly but I think we'll see 5% by end of year. I also think base rates will be lower at the end of the year than they are right now. The question those hoping to buy need to answer for themselves is at what point will they commit? It's never easy, you're competing with everyone else for the same thing. Think campervans during lockdown or expensive watches...... if you wanted one you'd also have to take that step. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 7, 2023 Share Posted March 7, 2023 2 hours ago, MonsieurCopperCrutch said: Looks like you called it. Well done. Some brutal interest rate rises will soon put pay to that, don’t take my word for it, ask Jerome. Quote Link to comment Share on other sites More sharing options...
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