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Jason

Nationwide - May + 0.2% Mom, +4.7% Yoy

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Report: http://www.nationwide.co.uk/hpi/historical/May2006.pdf (Will appear at 7am)

· House prices grew by 0.2% in May, the second month of neutral growth in a row

· Annual house price growth remains below 5%

· Accelerating house price growth should not be taken for granted

· Higher money market interest rates already affecting mortgage costs

Average price now £164,632

Edited by Jason

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Ah, does this mean that IRs will be on hold for now?

<_<

Interestig, it implies that the banks are already doing the job of the MPC;

Higher money market interest rates already affecting mortgage costs

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The link is now live.

This report may be trying to dissuade a rate hike! :lol: But at least they acknoweldge it!

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Ah, does this mean that IRs will be on hold for now?

<_<

don't worry, you'll get what's coming :D

if Nationwide is 0.2, Halifix will be about 1.8 and rightmove 3.5 !!

back at nationwide HQ..........

These developments all reduce the need for a near-term UK rate hike.

:lol:

Edited by sign_of_the_times

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The BBC headline says house prices are sluggish, SLUGGISH, sounds a very depressing state of affairs.

I hear this type of stuff all the time in the media, whenever there is near zero HPI or even negative figures they report in the same way they would report job losses or the stock market crashing.

It does make me laugh when one day you get some patronising middle class git who does a report on the hardships of the poor FTB's, you get the oh dear's and something should be done, but come the day houseprices fall their crocodile tears suddenly dry up and you can hear the PANIC in their voices.

Falls in houseprices for the likes of me are a type of economical growth, falls to me mean a better standard of living, they mean a better quality of life. I wish the media would report falls and stagnation without the dramatic headlines, if they cannot then they need to start looking a little bit deeper than their posh pals with the BTL'S

because as far as i am concerned

HOUSE PRICE FALLS ARE GROWTH

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Am i the only one, you listen to the media reports and hear down in the dumps reporting on how slow the housing market is, which is still growing i might add, even if it is only +0.2%.

I might not be down in the dumps anymore about HPI(i accept it is now capable of anything), but i am as sick as all these BTL investors and greedy homeowners that have only got +0.2% this month when i the real world we need to get a -35% fall at least.

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Am i the only one, you listen to the media reports and hear down in the dumps reporting on how slow the housing market is, which is still growing i might add, even if it is only +0.2%.

I might not be down in the dumps anymore about HPI(i accept it is now capable of anything), but i am as sick as all these BTL investors and greedy homeowners that have only got +0.2% this month when i the real world we need to get a -35% fall at least.

Don't you just hate those greedy homeowners making money on their assets? How dare they - all property is theft.

Don't make me laugh! Just find me someone who, as a homeowner, would ever say no thanks to an increase in asset value. It's just human nature.

HTH ;)

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Don't you just hate those greedy homeowners making money on their assets? How dare they - all property is theft.

Don't make me laugh! Just find me someone who, as a homeowner, would ever say no thanks to an increase in asset value. It's just human nature.

HTH ;)

Thats fine, the point i was making though was that not everyone in the UK jumps for joy when there is an increase, far from it.

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Report: http://www.nationwide.co.uk/hpi/historical/May2006.pdf (Will appear at 7am)

· House prices grew by 0.2% in May, the second month of neutral growth in a row

· Annual house price growth remains below 5%

· Accelerating house price growth should not be taken for granted

· Higher money market interest rates already affecting mortgage costs

Average price now £164,632

Translating from vispeak, property prices are taking a hammering. B)

Don't you just hate those greedy homeowners making money on their assets? How dare they - all property is theft.

Don't make me laugh! Just find me someone who, as a homeowner, would ever say no thanks to an increase in asset value. It's just human nature.

HTH ;)

Actually most property owners have got absolutely nothing, only those who have cashed in their property this month have. It should always be remembered that until assets are realised, this is theoretical wealth.

Edited by othello

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Don't you just hate those greedy homeowners making money on their assets? How dare they - all property is theft.

Don't make me laugh! Just find me someone who, as a homeowner, would ever say no thanks to an increase in asset value. It's just human nature.

I am happy for my assets to fall in price, provided it is an asset I expect to purchase more of over my lifetime.

I am happy when the price of cars and TVs fall, even though it devalues things that I own. For most people (i.e. owners, not property speculators), the same is true of property, even if they don't realise it.

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Hi

I seem to remember that the SA were fixed by the lenders, and that the NSA numbers were all that could be beleived. Anyway the NSA numbers for you

2005	Dec	£157,2502006	Jan	£158,4782006	Feb	£158,5732006	Mar	£162,0832006	Apr	£163,5732006	May	£164,632

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http://www.rte.ie/business/2006/0531/britain.html

Nationwide's figures stand in sharp contrast to recent numbers for April from HBOS, the nation's largest mortgage lender, which said prices jumped 2% in that month - their biggest monthly rise in two years.
Nationwide said cooling demand for housing as well as rising interest rate expectations in financial markets - which drive mortgage costs as do official interest rates - may dampen property price inflation in coming months.

Nationwide are going for the credibility stakes to make HBOS and Rightmove look ridiculous. :lol:

Gordon's "Miracle Economy" of HPI and MEW is starting to unwravel and the strong pound along with it:

http://today.reuters.co.uk/investing/finan...ERLING-OPEN.XML

Sterling weakens vs euro on housing market doubt

Wed May 31, 2006 8:42 AM BST

LONDON, May 31 (Reuters) - Sterling slipped against the euro on Wednesday after data showed British house prices rose only modestly in May, casting some doubt on a recent revival in the property market.
According to the Nationwide Building Society, prices rose 0.2 in May from the previous month. The annual rate of increase slipped to 4.7 percent from 4.8 previously.
Edited by Realistbear

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apologies posted this on a fresh thread - will post it here too maybe mods can delete t'other...

Nationwide May figures released today at +0.2% seasonally adjusted (4.7% YOY)

Halifax figures due next week.

Interesting to look at the chart of the two indices over the last 2 years. Unfortunately it's difficult to get the exact index levels - don't know if anyone else can, what we have here is the monthly s.a % changes.

It looks like they used to correlate a lot more closely, what I've noticed over the last year or so are larger differences and perhaps a different trend. The Halifax index certainly looks more volatile at the moment.

Any thoughts?

bsmmsa.gif

post-3959-1149072378.gif

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On Bloomberg this morning they referred to Nationwide's flat figures for the past two months with repeated use of the 'S' word.

Stagnation. The IO numpty's nightmare. :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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