Thursday, February 8, 2007

Prices up 1.3%!

House prices increased by 1.3% in January despite interest rate increases - Halifax

House prices increased by 1.3% in January, leaving the annual rate of house price inflation unchanged at 9.9% compared with December. The mixed pattern of monthly price rises and falls in December and January is consistent with a slowing market.

Posted by converted lurker @ 09:18 AM (1816 views)
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9 thoughts on “Prices up 1.3%!

  • If the MPC is thinking rationally, a rate rise should be on the cards then …

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  • I don’t beleive any figures that say prices are going up!

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  • See, rates rise and YET house prices still rise by over 1%, a crash isn’t on the cars because people EXPECT house prices to keep on rising. Even if the BoE does hike the rates, which is extremely unlikely they will still rise.

    We need at least 10% to see a difference.

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  • As I keep saying they won’t crash. Property will just keep on rising. We are not heading for a crash. We are just the unfortunate people who will probably never be able to buy a house because were unable to get on before the boom.

    Sad and upsetting I know, but I for one am now just concentrating on how I can leave the UK because I will never be able to buy a house here, ever.

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  • “In its monthly survey, the Halifax reported that prices rose by 1.3% in January, keeping the annual rate of house price inflation at about 10%”

    Every month they go up by 1%+ and rise by 10% over the year. They have been doing this for years! And people just EXPECT it to keep happening.

    Banks keep saying there will be a slowdown, but there won’t be! When is this supposed slowdown supposed to happen, it never does they just keep on rising 1% a month.

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  • Yeah Catch 22 –

    If you stay in the UK you create demand and the prices rise
    If you leave the UK you lessen demand and the prices fall

    Damned if you do and damned if you dont

    I think the BOE is in a similar predicament.
    Just hang in there – a dime never falls on it side

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  • Yet the land registry report house prices dropped in the last quarter of 2006.

    See, it can happen.

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  • David20030_0 – some justifications and sound argument for your opinion would be appreciated.

    Personally I think the timing of this report says it all…. makes the general public think prices are still going up to maintain confidence, but released too late for the MPC to read before making their decision.

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  • Shoe me the evidence they won’t.

    The same stuff is trotted out every month that in the long term there will be a slow down, they have been saying this since about 2001.

    Yet EVERY month house prices rise by at least £1K, I can’t save that a month, every month I am further away from ever buying a house.

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