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House Prices Bounce Back In August - Halifax Says

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bbc latest report to follow

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The resilience of this housing market amazes me. Monthly rising prices , together with the large volumes of transactions, just indicate how much headroom there still is before unaffordability puts an end to it all

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bbc latest report to follow

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I just do not f*****g believe!!!!

There is a real sence of something bad around the corner in all the media now, debt, politics,the economy, rate rises.

Yet today we have figures suggesting that home buyers were willing to pay more for their home than in anytime in history, i am not a stupid man, but for the life of me i cannot understand this at all.

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Liquidity is still loose in the economy. REAL IR are too low in relation to our rising inflation. Until the Japanese tighten people will be able to sink themselves further and further into debt. We are at the door of 1.3 trillion which exceeds the US on a per capita basis. As Mervyn said, house prices are opinion whereas the DEBT is real. Its going to be ugly when the bubble pops.

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Guest pioneer31

I just do not f*****g believe!!!!

There is a real sence of something bad around the corner in all the media now, debt, politics,the economy, rate rises.

Yet today we have figures suggesting that home buyers were willing to pay more for their home than in anytime in history, i am not a stupid man, but for the life of me i cannot understand this at all.

One look at nethouseprices brings me back to reality. When I see that the house 2 doors away was bought for £93.5k in 2000 and is now £230,000, I realise that there is no way in this world or the next, that I'm going to buy a house at these prices (affording one would be a fine thing)

Edited by pioneer31

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bbc latest report to follow

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Thing is this report says there was a shock drop in prices last month - I know I may have selective memory but I dont remember the BBC reporting it.

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There is a real sence of something bad around the corner in all the media now, debt, politics,the economy, rate rises.

Sam, I think the economic position is exagerrated by many on this forum. This from the report itself:

The UK economy has strengthened during 2006 with the latest ONS figures confirming that GDP increased by 0.8% in 2006 Q2. This was the biggest quarterly gain for two years and was above the long-term historical average of 0.6%. Consumer spending growth accelerated from 0.3% in 2006 Q1 to 1.0% in Q2.

Employment continues to increase with a rise of 42,000 in the three months to June 2006. The total number in employment has increased by 240,000 over the past year to 28.9 million.

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bbc latest report to follow

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Today should be or could be very interesting.

It is quite obvious that the Property market has taken no notice AT ALL of last months rise, so what is the Mpc to do today. Was last months rise just another half measure, or do the BOE really want to curb personal borrowing. Another rise today will send a message that the spending binge is over, i will not hold my breath though.

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My favourite bit is this:

"Heaven knows how a first-time buyer can afford the best part of a quarter of a million pounds, but they are finding a way."

(Debt reaching nose-bleed levels, record personal bankruptcies still rising exponentially)

Yes, it's a f***ing mystery!

:blink:

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My favourite bit is this:

(Debt reaching nose-bleed levels, record personal bankruptcies still rising exponentially)

Yes, it's a f***ing mystery!

:blink:

The Halifax figures are approvals, not sales, and are generally two or more weeks behind the actual offer

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My favourite bit is this:

(Debt reaching nose-bleed levels, record personal bankruptcies still rising exponentially)

Yes, it's a f***ing mystery!

:blink:

What is happening in this Country, i just do not know what to believe anymore. Only a decade ago i never would have never believed in conspiracy theorys and politicians lying(and maybe worse) to the extent they do, and other VI's being given the media as a source of advertising their products.

Like you say Bear Goggles, it is widespread news that debt is crippling so many, we have record numbers of personal bankrupts, and yet young adults(nearly kids) are expected to borrow £100,000's.

Get the w*****er Blair out as soon as possible i say, along with his bitch Brown, we need someone who wants to house young familys in decent homes, not someone that is letting baby boomers own the whole f******g lot, they have had enough as it is, one memeber working in the past while one looks after the kids, three day weeks, unions calling strikes for stupid reasons every 5 minuts, those b*******s never worked nearly as hard as we do today, and do not be told otherwise.

These F*** wits only care about power, the reasons why the Labour party were first formed are now dead, Blair only want to make 10 years so it has a nice ring to it, keep everything nice and tidy.

OH F*** IT, LETS GO ALL THE WAY, LETS BORROW £2 TRILLION OR EVEN £3 TRILLION, LETS HAVE ONE BIG MASSIVE ORGY AND THEN JUMP OFF THE CLIFF, BECAUSE THATS WHERE WE ARE GOING UNLESS SOMEONE DOES SOMETHING NOW

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Sam, I think the economic position is exagerrated by many on this forum. This from the report itself:

The UK economy has strengthened during 2006 with the latest ONS figures confirming that GDP increased by 0.8% in 2006 Q2. This was the biggest quarterly gain for two years and was above the long-term historical average of 0.6%. Consumer spending growth accelerated from 0.3% in 2006 Q1 to 1.0% in Q2.

Employment continues to increase with a rise of 42,000 in the three months to June 2006. The total number in employment has increased by 240,000 over the past year to 28.9 million.

Well pointed out – things just are not that bad yet!

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The total number in employment has increased by 240,000 over the past year to 28.9 million.

I really don't see the point in quoting these figures. Unemployment is up, immigration is rampant (up to 600,000), so yes there is more employment. At the cost of our own citizens who are now unemployed.

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Exactly. And that's a national figure based on nothing more than mortgage approvals.

By having a number of monthly surveys that bounce up and down from month to month, the BBC (and the rest of the media) will always have a 'good news' story each month for the home owning masses.

A number of houses around my way which had been on the market for many months and were under offer at the time of last months IR rise suddenly fell through a couple of weeks ago. These houses would have made their way into the Rightmove data and quite possibly either the Nationwide or Halifax data. However, they certainly won't be making it into the Land Registry data.

You also need to read the notes on the methodology which are stunning

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By having a number of monthly surveys that bounce up and down from month to month, the BBC (and the rest of the media) will always have a 'good news' story each month for the home owning masses.

The point being is that at the moment not many are bouncing downwards – if things continue as they have the figures will be bouncing between 1% and 2% MOM – I suspect that most reports will show positive for some time as they lag behind. Personally I am looking towards rightmove for direction

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Guest Shedfish

"Properties over £1 million are included and the index is seasonally adjusted with the seasonal factors updated monthly"....

"The standardised index is seasonally adjusted using the U.S. Bureau of the Census XII moving-average method based on a rolling 84-month series. Each month, the seasonally adjusted figure for the same month a year ago and last’s month figure are subject to revision"

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Although a Bear I have noticed that things have improved in the last week or two in the market and i am inclined to believe the Halifax figures.I counted 25 out of 62 For Sale Boards marked Sold(40%) on the Derby Road between Nottingham and Derby this morning.The only consolation for east Midlanders is that prices are only stuttering back to the november 2004 peak.I guess Bears living in the South East,not having seen a 10% correction in 2005 ,must be getting p***ed off.

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I really don't see the point in quoting these figures. Unemployment is up, immigration is rampant (up to 600,000), so yes there is more employment. At the cost of our own citizens who are now unemployed.

It really doesn't matter whether those working are immigrants are natives; the important thing is that somebody is paying taxes, and supporting the housing market (whether through rent or owner occupation). :)

Given that the number of people working has reached record levels, and that the economy is continuing to grow, is it time for some members of this site to reassess their views?

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Given that the number of people working has reached record levels, and that the economy is continuing to grow, is it time for some members of this site to reassess their views?

When there is a swing up (more people in jobs etc) then usually there will be a force to the opposite sooner or later (job losses).

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I really don't see the point in quoting these figures. Unemployment is up, immigration is rampant (up to 600,000), so yes there is more employment. At the cost of our own citizens who are now unemployed.

It was quoted in the context of explaining a rising housing market, not as a comment on the social injustice of it!

Although a Bear I have noticed that things have improved in the last week or two in the market and i am inclined to believe the Halifax figures.I counted 25 out of 62 For Sale Boards marked Sold(40%) on the Derby Road between Nottingham and Derby this morning.The only consolation for east Midlanders is that prices are only stuttering back to the november 2004 peak.I guess Bears living in the South East,not having seen a 10% correction in 2005 ,must be getting p***ed off.

Iin my area of the SE, I don't think prices changed much at all between 2004 and early 2006. And here's a set of stats that seems to prove it.

http://www.houseprices.uk.net/articles/odpm_regional/

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It really doesn't matter whether those working are immigrants are natives; the important thing is that somebody is paying taxes, and supporting the housing market (whether through rent or owner occupation). :)

Given that the number of people working has reached record levels, and that the economy is continuing to grow, is it time for some members of this site to reassess their views?

Reassess their views to what?

That we've never had it so good!??

:lol::lol::lol:

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  • 302 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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