Thursday, Jun 01, 2006

Why are house prices still rising when ...

The Independent Online: Property mini-boom may be petering out

This article reports a mixed batch of data from a number of sources including mortgage approvals, average property prices, interest rates outlook, stock prices, consumer confidence, retail sales volumes. Most data would support the idea of declining economic conditions but one, (retail sales), supports continuing or improving conditions.

Posted by talking rot @ 12:10 PM (478 views)
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6 Comments

1. denzil said...

Seems this is a little like a begging letter from the Nationwide to the MPC. Please Sir do not raise interest rates because the property market is so unstable it will probably crash.

It amazes me how much value people put on the Nationwide figures. Nobody I know is buying a house in every City in the country so what relevence is 0.2%. The important data is sold prices as recorded in land registry for the area of interest not the country as a whole.
I don't argue with the Nationwide or Halifax results it's the input to those results that is open to interpretation. The fact that 0.1% appears so often smells a little odd to me.

Thursday, June 1, 2006 01:05PM Report Comment
 

2. Markd said...

I'm still intrigued by the land registry figures on the statistics section of this site showing a 5.67% drop in Greater London over the 1st quarter of the year-having read through the accompanying report I can't see where this figure comes from. I wonder if it is correct-has anyone more information on the calculation of this apparently huge drop?

Thursday, June 1, 2006 01:20PM Report Comment
 

3. bidin'matime said...

Nationwide ..said the price of the average property rose 0.2 per cent in May, after April's 0.1 per cent. Fionnuala Earley, its chief economist, said: "House price growth was sluggish for the second month in a row. There are now further reasons to expect some cooling in the rate of house price inflation over coming months."

Just how much cooler an inflation rate can you get than 0.1%??? These people still cant bring themselves to suggest falling prices

Thursday, June 1, 2006 01:31PM Report Comment
 

4. denzil said...

In a related point it is interesting to read the reports from the likes of the Halifax, Nationwide etc during the last HPC.
The Wiki (click on tab above) has a whole bunch of articles that make fascinating reading.

Thursday, June 1, 2006 02:16PM Report Comment
 

5. Autopilotengage said...

0.01%? or perhaps even 0.001%? or perhaps even the cash redemption value of a "tiger token"? "In denial" really doesn't cut it. Of course, a 0.1% increase is, in real terms, a fall anyway, but they don't seem to be volunteering that information either.

Thursday, June 1, 2006 02:22PM Report Comment
 

6. The Bald Man said...

Take a look at the credit figures . It can not keep expanding. When the credit crunch comes you will not be be seeing 0.1 just red.

Friday, June 2, 2006 11:03AM Report Comment
 

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