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kingofnowhere

Halifax +0.1%

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http://www.hbosplc.com/economy/NationalPressRelease.asp

Halifax House Price Index

National Index May 2006

THURSDAY 8TH JUNE 2006

All Houses, All Buyers Index (1983=100)

Index (seasonally adjusted) 579.3 Monthly Change 0.1% Annual Change 9.1% Standardised Average Price (seasonally adjusted) £178,997

House prices increased by 0.1% in May, the smallest monthly rise since January's 0.2% fall.

• As expected, technical factors – specifically, the corresponding figures last year were weak - and recent momentum in the housing market have caused house price inflation to pick up in early 2006. The annual rate, at 9.1%, is the highest for 14 months (March 2005).

• The much stronger pattern of house price growth in the second half of 2005 compared with the first half should mean that annual house price growth moderates during 2006 H2.

• There are signs that housing market activity may be beginning to level out. The number of mortgage approvals to fund house purchase fell in April for the second time in four months with the number of loans 11% below January's peak of 119,000, according to the Bank of England.

• The pressures on the household sector resulting from higher unemployment and significantly higher household bills, together with the current high level of house prices in relation to earnings, are likely to constrain housing demand and curb house price growth and activity over the remainder of 2006.

• Separate Halifax research published today shows that there are now an estimated 66,600 properties in Britain valued at £1 million and more compared with only 3,400 in 1995 – a twenty-fold increase. Sales at £1 million and above outside London and the South East have risen 36-fold over the past decade.

ABOUT THE HALIFAX HOUSE PRICE INDEX

The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. The Index is typically based on around 15,000 house purchases per month, and covers the whole calendar month. From this data, a "standardised" house price is calculated and property price movements on a like-for-like basis (including seasonal adjustments) are analysed over time. Properties over £1 million are included and the index is seasonally adjusted with the seasonal factors updated monthly.

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Guest The_Oldie

Dated today, good timing for an attempt to influence the MPC decision :rolleyes:.

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We are at the top of the HPI mountain looking down to the other side. :o

Realist

Are you trying to spin more tops. I see last years top spinning party was a great sucess

Topspinning.GIF

All said in the best possible humour

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Realist

Are you trying to spin more tops. I see last years top spinning party was a great sucess

Topspinning.GIF

All said in the best possible humour

The top always comes--now is a good time to call it.

FT see much the same scenario:

http://news.ft.com/cms/s/4fe2a684-c588-11d...00779e2340.html

Despite the volatility of their regional house price indices, the lenders Nationwide and Halifax also estimate that
London is the only region with rising house price inflation over the past year
.

It's over.

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Yep. This was previously scheduled to come out tomorrow.

BBC: http://news.bbc.co.uk/1/hi/business/5058230.stm

Significantly higher household bills and rising unemployment lie at the heart of the slowdown, Halifax said.

Unemployment will be an important ingredient in the HPC. As it continues to deteriorate confidence will fall sharply. I think we are on for 2006 (10% down overall).

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As soon as a freeze in IR's is announced today they (VI's) will be shouting from the roof tops about 0.6% rises.

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Also interesting that the May/06 YoY has now reached 10%, although Halifax report this slightly lower at 9% by using a “standardised YoY” based on quarterly averaged prices.

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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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