Friday, October 13, 2006

Are you listening MPC?

FT index shows sharp rise in house prices

House-buyers in England and Wales have shrugged-off August’s 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 (601 views)
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5 thoughts on “Are you listening MPC?

  • 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.

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  • 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.

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  • Where are you kpjcomp?

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  • 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.

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  • 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.

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