Wednesday, Oct 04, 2006

Prices keep going up

BBC news: UK house prices show strong rise

According to Halifax prices have reached a plateau. Has that ever happened before ?

Posted by holding out @ 09:21 AM (480 views)
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9 Comments

1. Housepricelottery said...

Would that be a plateau of the new permanently high variety?

Wednesday, October 4, 2006 09:50AM Report Comment
 

2. David20040_0 said...

Prices will never ever drop in the UK, therefore meaning that people in their early 20s will probably never be able to buy a house. This problem will probably sort itself out when the population dips. But that will probably not happen for another 50 years.

I have read this site for many years and people are always predicting a crash. Maybe it is just time to accept it will never happen.

Wednesday, October 4, 2006 10:35AM Report Comment
 

3. little professor said...

House prices rose by 1% in September and are increasing at an annual rate of 8%, according to the Halifax, the UK's biggest mortgage lender.
This is the second month in a row that house prices have shown a strong rise, potentially adding to the case for an interest rate increase.
Halifax added that sound fundamentals would "continue to support a healthy housing market over the coming months".

So far in 2006 UK house price inflation has outstripped analysts' expectations. At the start of the year, both the Halifax and Nationwide predicted that prices would rise by low single digit figures. However, according to the Halifax, annual house price inflation is running at 8%.

But Halifax said there were "modest falls" in Yorkshire and the East Midlands "reflecting the increasing affordability difficulties for buyers as a result of the very rapid rise in house prices in these parts of the country over the past few years."


Wednesday, October 4, 2006 10:36AM Report Comment
 

4. Thesqueeze said...

"Nevertheless, the Halifax said that higher utility bills and August's decision by the Bank of England to raise UK interest rates by a quarter of a percentage point were likely to dampen demand in the housing market at the back end of 2006. "

In fact, Halifax described the housing market as having reached a "plateau."

How can they they still come up with this incredulous drivel? They are telling us it is all rosey, gone up 8%, housing is marvellous etc, but they are also saying its reached a plateau. Does that mean they don't expect it to go up anymore then?, well if so say it. HPI is still completely above what it should be 8% is massive! But oh , they don't expect it to go up any more, so please don't put the IR up anymore.

I know why people buy guns.

Wednesday, October 4, 2006 10:40AM Report Comment
 

5. Mikexx said...

It often happens this time each month. It's called PBRRT Pre-BoE-Rate-Rise-Tension

Wednesday, October 4, 2006 10:55AM Report Comment
 

6. David20040_0 said...

They will never crash, it has been said for years they will but they won't

Wednesday, October 4, 2006 11:13AM Report Comment
 

7. the bald man said...

Why are falls always modest and rises "marked"?

Wednesday, October 4, 2006 01:33PM Report Comment
 

8. Jolo said...

good old beeb didn't let me down!

Wednesday, October 4, 2006 02:48PM Report Comment
 

9. Thesqueeze said...

David20040_0 - You forgot the word 'durrrr' at the end of your comment.

I want a crash, and I have just paid off the mortgage which I jointly own with my wife. We are in out early thirties and own our own property. I am now asset rich. but this is no good to me. Our flat is worth 180,000. The house we want is worth 300,000. So we need to get a mortgage for 120,000. Between us with 4.75% interest rates that is easy. But what we want is what other people in situation want - a crash. I would rather prices went down 30%, meaning my wife and I only need a mortgage of 84000 to move up.

Interest rates are on the up, savings and pensions will be in vogue again soon. Things go in cycles, and sure as there has always ALWAYS been, there will be a crash. 'They' will crash.

Wednesday, October 4, 2006 10:24PM Report Comment
 

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