Tuesday, Dec 19, 2006

RICS - house price inflation grinds to a halt in November

Firstrung: House price inflation stalls in November but housing market refuses to find reverse gear

House prices inflation reached a plateau in November but market conditions remain strong, says RICS's UK housing market survey published today, (19 December 2006). In November, 47.4% more Chartered Surveyors reported a rise than a fall in house prices, down from 47.7% in October, but still more than double the long run average of 21%.

Posted by converted lurker @ 11:33 AM (512 views)
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8 Comments

1. harold said...

It will be interesting to see in the new year whether this is just a seasonal slow down or the result of IR rises this year. If it is the former than HPI will pick up again in the spring, if it is the latter then the stall could turn into longer-term stagnation. My guess is that the MPC will be hoping that it is the latter as (some) members are worried about a possible crash and are hoping that their IR medicine has worked.

Tuesday, December 19, 2006 12:28PM Report Comment
 

2. Cstanhope707 said...

Seasonal Slowdown HPI will be 10% next year

Tuesday, December 19, 2006 12:59PM Report Comment
 

3. Geneer said...

Give it time. House Prices are an oiltanker....takes a while to turn.

Tuesday, December 19, 2006 01:18PM Report Comment
 

4. Randomkevlar said...

Is it me or is the statement...

'New buyer enquiries stagnated in November but still remain strong throughout the country with demand boosted by rising incomes, a strong economic outlook and a healthy employment market'

nonsense!!!

how can new buyer enquiries be both 'stagnated' and 'still remain strong' I must not understand, someone please explain this?




Tuesday, December 19, 2006 02:14PM Report Comment
 

5. Nohpc said...

It means that there was no increase in the number of inquiries but the overall amount remains high?

Tuesday, December 19, 2006 08:14PM Report Comment
 

6. Surfgatinho said...

Hmm, reminds me of August 05. Everything slowed right down and was poised to go into reverse. Then, the BoE stepped in and the rest is history

Tuesday, December 19, 2006 11:35PM Report Comment
 

7. harold said...

Randomkevlar

Property spin I guess.

Wednesday, December 20, 2006 12:39AM Report Comment
 

8. george monsoon said...

nohpc, absolutely, this housing market will obviously continue to grow and with wages falling behind by a factor of 3 in the last 5 years, lets just borrow higher multiples and take out 100 year mortgages... long live GREEED...

Wednesday, December 20, 2006 09:56AM Report Comment
 

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