Saturday, December 20, 2008

Suprise, suprise. They know how dire it is going to be in 2009 & 2010

Halifax and Nationwide decide not to publish annual house price forecasts

Halifax and Nationwide publish house price surveys every month, which both lenders said they would continue to provide. But neither is going ahead with their annual predictions for next year.

Posted by v stor @ 12:13 PM (2102 views)
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14 thoughts on “Suprise, suprise. They know how dire it is going to be in 2009 & 2010

  • We dont need these two banks, one of which has gone bust to tell us about where prices have been or are going. they should concentrate instead of predicting risk.

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  • They have been widely exposed by the likes of sites like this, who have members technically capable of accurate forecasting well before they release their ‘figures’ and at times questioning their forecasts.
    They are beginning to feel exposed to truth. Hence the coming silence.

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  • How much does a coal mine cost TC ?

    Agreed there could be some big monthly drops next year.

    10-15% is a foregone conlusion for next year, question is how much bigger could it be ?

    I can’t realistically see anyone getting offers unless their sales price reflects todays market, I then can’t seeing anyone buying unless they get 10-15% discount as a minimum from that price.

    So effectively any sales that go through in January February should in theory show up a monthly fall of at least 5-10%.

    Something tells me some serious figure smoothing would occur and you’d never get to see monthly falls as big as that.

    I think we might see 3.5% fall in a month though.

    Perhaps we should have a sportsmans bet as to the biggest Hali/wide monthly fall to be recorded in 2009. I’ll go 3.7% as my bid.

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  • Who now will tell us of these fall’s. Will it be a Government Body who can fiddle
    with the figure’s.

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  • If they pulished their predictions the government would be expected to do something magical
    and estate agents panicing would make things worse?

    FTBers would also run a mile. You can predict your way into a collapse.

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  • Personally I expected them to stop publishing the index rather than the forecast

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  • 6. titaniccaptain said…”changed back to coal just by reopening the chimney”

    Ooh no, we can’t have that!, An open fireplace lowers the energy rating of the house. If the gummint get their way we will soon have the fireplace police paying a visit and putting up the council tax on these less energy efficient houses.

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  • Only problem with buying coal in bulk is……….where do you put it???????……lucky I have a large garden I havent mowed the lawn for a while..so it might cover it up nicely

    In the last 40 years, houses simply haven’t been built to accomodate coal. Another example of short sightedness of politicians.

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  • This reminds me a little of Natwest (part of RBS), now mostly state owned, offering free financial advice to people. This begs the question from me – why on earth would I want to take financial advice from a failed bank, and why on earth would I listen to any house price predictions from banks which failed to work accurate predictions into their own business models, to save their own skins!

    Utterly incompetent.

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  • Paul

    What they predict and what they believe are 2 different things, if you’d been at the first HPC meet in London you’d have met one.

    Who knows he may turn up at the one in January, nice chap.

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  • @paul
    “This reminds me a little of Natwest (part of RBS), now mostly state owned, offering free financial advice to people.”

    I always have a private little chuckle to myself when the cash-machines at some banks offer to give me advice with my cash – Advice from YOU?

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  • @ STR 2007, I was at an HPC meet up in October, was there a VI in our midst?

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  • str 2007. I didn’t turn up to a meeting yet, but my confidence in the meetup.com fraternity has waxed recently – I must confess that there seems to be conflicting interests on the part of the active members (among which I was an organizer until i stepped down recently) – can you tell me where and when the meet is proposed?

    I wouldn’t join a club which would accept me as a member and all that …

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  • Enjoy the meets guys. I’m in Oz now and yet to find a relevant site with enough quality news, although bubblepedia is relevant. Pointless anyway I think, Oz gets the impacts last! Reading this site keeps me ahead of the game here, I believe.

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