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cupidstunt

Halifax Spin - Prices Up 1.4% In Feb

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House prices increased by 1.4% in February, more than offsetting January's fall. The mixed pattern of monthly price rises and falls is a typical feature of a slower housing market.

Edited by cupidstunt

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Another disastrous day, like most in the last 5 years. This will be all over the press. In fact from a FTB point of view it's just getting worse, these 1.4% increases are huge given the massive rises we've seen previously.

Edited by simon99

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http://www.tiscali.co.uk/news/newswire.php...y_template.html

House prices jump 1.4 pct m/m in Feb-Halifax

08/03/2006 08:17

LONDON (Reuters) - House prices jumped by 1.4 percent on the month in February, giving a three-month annual rate of increase of 5.5 percent, HBOS Plc said in its Halifax house price survey on Wednesday.

That followed a monthly decline of 0.4 percent and annual inflation of 5.1 percent originally reported for January.

The nation’s largest mortgage lender said the average price of a home was a seasonally-adjusted 173,498 pounds in February.

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Nuts.. going to be unpleasent in the office..

Personally I havent mentioned house prices in ages..

but it will be the inane grins.. aren't we rich..??? aren't we...??

bugg*r

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And Rightmove will be claiming 1.8% rise no doubt. Based, of course on "asking prices." These VI stats have zero credibility in my view. Land Registry Quarterlies will be out soon.

Anecdotaly, all I see are price reductions in my area and builders continuing to offer discounts (not increases). The VIs dare not show any decreases in prices because they know it will spook the overstretched herd into panic.

At least the red hot market (1.4% X 12 = 16.8% annual HPI)

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Actually I’m not really surprised as I was expecting a strong “spring bounce” and think this will continue for the next few months. We seem to be entering a period of “capitulation” Although there are few FTB out there; the BTL Muppets are still very active.

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And this is why we ought to be much more proactive in challenging all the VI spin about the UK property market. As I have said before - although we can do nothing about the underlying economic fundamentals we can target, and have an impact, on the spin by providing a counter discourse that debunks the VI spin and generates a more accurate and truthful interpretation of the UK housing market. Some here say that such activity is a waste of time because the property market is driven by economic fundamentals that are akin to being an essentialistic natural force of nature that has to play out its inevitable route and journey. However, there does seem to be some acceptance that the property market is driven, at least in part, by sentiment. But what creates and influences sentiment? Is it economic fundamentals, spin, or a combination of economic fundamentals and spin? Surely spin is a powerful factor in driving the general population to act beyond the logic and reason of the economic fundamentals - hence bubbles going on for longer than the economic fundamentals indicate that they should do. The vested interests seem to have no problemns in recognising the power and role that spin has to play in the UK housing market.

I think we should be doing more to make a 'noise' about disatisfaction with house prices by writing to newspapers, MPs, having an HPC candidate (or more than one) in the 4th May local elections, posting out leaflets, using stickers, doing radio and TV interviews and so on.

More needs to be done to challenge the received wisdom that high and rising house prices are a good thing, that house prices don't fall (and if they do it is a bad thing).

In my frustration I have started sending out leaflets on a monthly basis to houses in the areas I am eventually possibly going to buy in. Many of them may be ignored but hopefully it will get some people thinking and talking. Personally I'm getting a bit fed up waiting for the economic fundamentals to sort out the situation for me. I'd rather be active whilst I'm waiting.

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Expect to see this as headline news on the BBC website anytime!!

"House prices rocketing at fastest rate since 2001" or something..... <_<

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Expect to see this as headline news on the BBC website anytime!!

"House prices rocketing at fastest rate since 2001" or something..... <_<

They may not headline it as they didn't place the Nationwide report on houses FALLING over the same period as a headline. The BBC are, of course, fair and balanced right? Aren't they? :unsure:

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Wait for some spin from Without a Paddle :lol:

Very funny. I'm glad to see the rise in prices is making you smile. I tend to favour YOY figures as they tell a clearer picture. Price rises in Feb wrt Jan are probably quite common. (YOY is around +5%?)

I'm very much of the opinion that house prices are not going to crash this side of the election. In fact I reckon we are more likely to see small 'nominal' hp falls and increasing inflation if we see a downturn in the economy leading up to or following the election.

The govt has the option to devalue the £ rather than have a HPC as a HPC is not a votewinner. This option was not available during the last crash as we were tied to the ERM until 1992.

In other words it was different LAST time in the 1990 HPC. This time will probably be like all the recent 'crashes' where nominal prises don't fall, but inflation rises. This is because we have more control of our own monetary policy compared to 1990 when we were handcuffed to the ERM.

A well timed devaluation in the currency is a well proven method of helping an economy when it gets into difficulties. Check out a graph of UK inflation over the last 45 years and count the inflation bubbles...

Then count the number of HPCs where nominal prices fell. There's only ONE. Does this mean there has only been one economic downturn? I DON'T THINK SO!

The bears have got a few more false dawns to deal with (like today) before houses become more affordable.

Don't expect too much in the way of nominal falls in house prices, because the govt don't like falling house prices.... it loses votes...

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Guest The_Oldie

Nuts.. going to be unpleasent in the office..

Personally I havent mentioned house prices in ages..

but it will be the inane grins.. aren't we rich..??? aren't we...??

bugg*r

Worry not. He who laughs last, laughs longest :lol:.

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The main thing that I remember as a reader of these boards for quite some time now is that even when prices were falling during the last crash, they still rose during spring so its no suprise.

I have seen a graph of this fact here but not sure where to find it now.

West Cornwall seems very quiet activity wise although I notice that a lot of the 'reduced' and 'new price' signs have been taken down, for now at least.

C.P.

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Let's not over-react to one month's figures. Despite the headline increase the actual report is far from bullish. Like recent Nationwide interpretations, the tone has become cautious and modest in its claims. This is not surprising really when you look at the wider economic picture, which is shaping up for major problems, and simply will not provide the underpinnings for another sustained boom in prices. Property cannot defy gravity for ever and the anti-gravity machine we have had in place for a few years is starting to fail.

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YOY and Qtr On Qtr figures, seem to suggest the bounce has just started, however the amplitude on the short term cycles is decreasing as we continue to run out of people who can buy a small flat. We see HP bubble mania peaking in 2003, and a shift in the market in aut 2004

Edited by moosetea

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The Halifax aren't stupid. From the BBC report:

Meanwhile, the Halifax estimates that for the first time, council tax and fuel bills together in 2005/06 will cost the average homeowner more than mortgage repayments.

"Additionally, the weakening in the labour market should temper housing demand," he added.

They know the market is about to take a fall. Unfortunately, most people just see the big headlines and either have a panic attack (if you're a FTB), or go out looking for that second property (BTL muppets). Yes, the article is bullish and very subtly bearish.

Edited by Mr Blek

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And this is why we ought to be much more proactive in challenging all the VI spin about the UK property market.

In my frustration I have started sending out leaflets on a monthly basis to houses in the areas I am eventually possibly going to buy in. Many of them may be ignored but hopefully it will get some people thinking and talking. Personally I'm getting a bit fed up waiting for the economic fundamentals to sort out the situation for me. I'd rather be active whilst I'm waiting.

And if you could ever get a thousand of your comtemporaries off their bottoms, away from their forums and into an orderly line - and march through Central London with some decent signs 'Off with the heads of second home owners' - you would get the media coverage this subject deserves. Your generation is being screwed by mine. Aren't you bothered enough to try something that might work?

Look at the coverage Fathers 4 Justice got! Dress up as Batman and stand on a ledge - it is that easy. And their actions provoked a lot of serious debate. As long as people think that property always goes up, we don't need to worry about a pension because the house will be worth a million etc etc - as long as the VIs dominate the media - well ... you lot had better get used to living in rented flats. Anyone from the Halifax only has to type a couple of paragraphs, call it a Press Release and the whole media report it as though God had just handed the commandments down in person. And there you lot are - a lost, abandoned screwed up generation without the balls to do ANYTHING about it - apart from post on here of course.

A friend's niece aged 30 has just capitulated and is 'buying' her first place. But she can only afford half of it - so she is going to rent half of it from a Housing Associaton and rent the other half from the bank. 30 years old and all she can afford is to borrow - at historically very low interest rates - half of what she needs to buy a 1 bedroom flat you couldn't swing a cat in.

Don't post a reply - start talking to your mates who are in the same boat - start putting the word around - for hundreds of years people have been organizing to protest against injustice - why can't you lot?

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Perhaps my prediction of 8 - 10% rises should be upwardly revised? :lol:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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