Friday, Oct 13, 2006

Are you listening MPC?

Financial Times: FT index shows sharp rise in house prices

House-buyers in England and Wales have shrugged-off Augusts rise in interest rates, according to the FT house price index. After a strong spring, house prices levelled off at the beginning of the summer, but have bounced back to rise by 0.5 per cent in September alone.

Posted by uncle chris @ 10:38 AM (547 views)
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5 Comments

1. kpjcomp said...

Well, I think the cracks are starting to show were we are.
A 5 bedroom, old georgian house that was on the market for 320K, just sold at auction for 150K.
So the EA's & VI's might be fooling most people, but not me.

Friday, October 13, 2006 03:08PM Report Comment
 

2. J. B. M. C. said...

I would hardly call the FT a VI. I think it's one of the more accurate surveys.

As for using your sample (i.e. one house) to base your predictions for a slowdown/HPC. Well, I'm afraid it's wishful thinkng on your part.

Friday, October 13, 2006 04:01PM Report Comment
 

3. markd said...

Where are you kpjcomp?

Friday, October 13, 2006 04:41PM Report Comment
 

4. kpjcomp said...

I'm in E.Yorkshire.

The house was in West Cowick, I did'nt even know it had gone to Auction,.. I think I need to start going to property Auctions.. :)
It had recently sold some land for development, so the 320K to 150K maybe not a fair comparison,
but 150 for 5 bedroom Geogian house sounds amazing in the current climate.
The wife said, damm missed it. , but I'm sure they will be more yet to come.
I soppose with Auctions, you really find out what house prices are going for, rather than what greedy EA's put in there windows.

Friday, October 13, 2006 05:08PM Report Comment
 

5. markd said...

I'm in the NW and prices have been entirely static here since mid-2004. Lots of property on the market and much of it sits around for months and in some cases over a year, particularly at the top end of the market. I suspect it is London again pushing up the figures.

Saturday, October 14, 2006 01:54PM Report Comment
 

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