Friday, October 30, 2009

+0.4% MoM +2.0% YoY

October Index

Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said: “House prices rose for a sixth consecutive month in October, but the strong upward momentum in property values seen over the summer is showing some signs of moderating as we head into the autumn months. The price of a typical property was 0.4% higher on the month in October, compared to an increase of 0.9% in September and 1.4% in both July and August."

Posted by phdinbubbles @ 07:24 AM (2662 views)
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9 thoughts on “+0.4% MoM +2.0% YoY

  • Obviously Fionnuala Earley got the push then. Probably because nobody could say her name.

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  • krustyatemyhamster says:

    “Month-on-month prices were up for the sixth consecutive month in October, the Nationwide said, but it explained that a “more natural level of stock” for sale could be coming onto the market. ”

    Yeah, well let’s see what’s going to happen when everyone tries to sell at today’s prices – let’s see if normal volumes are supported by demand at this price. There’s at least an entire year’s worth of housing stock that would have been sold over the last two years if people hadn’t delayed selling. Bring your houses to the market little children.

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  • There are some pretty measured comments in this. Had a look at the property section of the local rag that came yesterday, just a couple of pages of houses for sale, all the rest (75%) are for rentals. So locally at least – West Mids – we do seem to be on very low volumes.

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  • Would love to see those expectations data in previous crashes ( & their dcbs ).

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  • “Given the poor labour market situation implied by the economy’s ongoing weakness, it is difficult to imagine the housing market returning to the buoyant levels of activity and price inflation that prevailed earlier in the decade”.

    OK – buyers have been warned. Buy a house to live in – not as an investment.

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  • landofconfusion says:

    Well it’s good to see we’re back to normality. 😉

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  • I agree with Wally on rentals – up hugely since we first started to rent in early 2008, probably x 10.

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  • mountain goat says:

    @6. landofconfusion

    Yeah gives me a warm feeling inside…

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