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How Did We Miss This!?!?! Telegraph...

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The building society has been slowly ramping up its forecasts in recent months, most recently predicting a rise to 5.75pc in August.

Nationwide reckons the risk of a move to 6pc have increased "significantly" after house prices rose 1.1pc this month.

Telegraph Link

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Oh dear, and they were confidently predicting the peak at the start of the year along with all the other'' sensible'' economic commentators.How come only the zealots on housepricecrash.com. were right?

Edited by crashmonitor

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What a dream world these guys are in?

Rates may hit 6%? ********! Rates may hit 6.5%, there is no way they won't reach 6%. WAKE UP AND SMELL THE COFFEE DICK HEAD!

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Nationwide reckons the risk of a move to 6pc has increased "significantly" after house prices rose 1.1pc this month.

House prices have risen? But what about all those "the crash has started" posts we been having the past few weeks? (scratches head) :lol:

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House prices have risen? But what about all those "the crash has started" posts we been having the past few weeks? (scratches head) :lol:

.....a national average is a misleading figure....in some areas they are up in others down...it also depends on the period YOY or say last 3 months or MOM...take your pick ...there are many more variations....the old adage 'it's all about timing' still holds....but add to the ingredients....geographical location and often....currently....detached, semi, flat or terraced within the location.........

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.....a national average is a misleading figure....in some areas they are up in others down...it also depends on the period YOY or say last 3 months or MOM...take your pick ...there are many more variations....the old adage 'it's all about timing' still holds....but add to the ingredients....geographical location and often....currently....detached, semi, flat or terraced within the location.........

Nationwide figures are a joke really, they lend you money to buy an and asset and guess what folks the asset rises in value every month, ***k me, Benson and Hedges reckons if you smoke 40 a day it cures cancer.

Edited by Jimmy2Times

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Nationwide figures are a joke really, they lend you money to buy an and asset and guess what folks the asset rises in value every month, ***k me, Benson and Hedges reckons if you smoke 40 a day it cures cancer.

Right. How often do building societies or other institutions with a vested interest in keeping HP's on the up, produce figures indicating a downturn. The market is always 'slowing' or 'cooling'. They just choose a statistical model which allows them to continue promoting the housing market as being continually 'on the up', otherwise 'joe public' might stop taking out loans he'll be repaying for the rest of his days. Perhaps this is also why mortgage approvals are also still increasing?

If prices are indeed still increasing, surely this 'anomaly' as Ms Earley puts it, is due to the rush to sell at above market value before HIPS come into effect on 1st August? This could be the time when things really start to turn around, particularly if another rate rise to 6pc follows the almost inevitable one expected in July and those 2-year fixed-raters from 2005 start to feel the pinch... :unsure:

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Another reason for a bearish article from Nationwide could be that they have launched a 25yr fixed rate mortgage - this announcement could see them stealing business from other banks - more money for them!

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.....a national average is a misleading figure....in some areas they are up in others down...it also depends on the period YOY or say last 3 months or MOM...take your pick ...there are many more variations....the old adage 'it's all about timing' still holds....but add to the ingredients....geographical location and often....currently....detached, semi, flat or terraced within the location.........

LR says 2 regions out of 9 are falling.

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Why take any notice of what a building society or bank has to say on interest rates?

"We predict rates will rise" translates as "Quick get on one of our fixed rate deals"

"We predict rates will fall" translates as "Quick borrow some more money, you'll be able to afford it soon"

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LR says 2 regions out of 9 are falling.

.......were they YOY, last month, last quarter or last half year stats...?......in the Land Registry figures quoted on the BBC website in Greater London five areas fell during the quarter January to March this year.........YOY it was one area in Greater London....go into the breakdown for flats, semis, detached and terraced and they are all different again for the same areas in the separate type and period breakdowns ....one off figures are no good ..we are looking for trends.

How accurate are these figures, when the BBC recently shut down the page on House prices while they 'rejigged' the data or somebody did it for them. They are merely displaying without recourse

as follows:

Land Registry of England and Wales, Crown copyright. The information above is based on figures provided by the Land Registry of England and Wales. Figures for England and Wales are for the period January to March 2007.

It is easy for people like the Nationwide to lump everything together and call it a UK average....but what does it mean...?...there is no definition or qualification of the numbers quoted...it's all sales spin....

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.......were they YOY, last month, last quarter or last half year stats...?......in the Land Registry figures quoted on the BBC website in Greater London five areas fell during the quarter January to March this year.........YOY it was one area in Greater London....go into the breakdown for flats, semis, detached and terraced and they are all different again for the same areas in the separate type and period breakdowns ....one off figures are no good ..we are looking for trends.

How accurate are these figures, when the BBC recently shut down the page on House prices while they 'rejigged' the data or somebody did it for them. They are merely displaying without recourse

as follows:

It is easy for people like the Nationwide to lump everything together and call it a UK average....but what does it mean...?...there is no definition or qualification of the numbers quoted...it's all sales spin....

I dont know if those LR stats were right or not. I know many posters on this site derided them as rubbish as they threw out wild numbers. I dont know if the most recent LR are any good or not either. I guess the point is that the LR may stats and the nationwide point to massive HPI.

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I dont know if those LR stats were right or not. I know many posters on this site derided them as rubbish as they threw out wild numbers. I dont know if the most recent LR are any good or not either. I guess the point is that the LR may stats and the nationwide point to massive HPI.

............that is an arithmetical deduction......similar to 1988....before the crash of '89 .....in a climate of rising interest rates.........

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