Thursday, July 29, 2010

Down 0.5% in July YOY +6.6%

House price inflation eases again, says Nationwide

Rather than blaming the World Cup I will blame those dastardly house builders for threatening to build some more. One more month of this and the Property Tycoons will be having to dip into their pockets to fund their houses.

Posted by tenyearstogetmymoneyback @ 07:16 AM (5358 views)
Please complete the required fields.



15 thoughts on “Down 0.5% in July YOY +6.6%

  • ‘Eases’? Oh they mean ‘Falls’.

    Reply
    Please complete the required fields.



  • Paul
    I used to think you were a bit paranoid about the beeb but that headline in priceless.
    Let’s hope this isn’t a one off. It’ll be the NW first reported fall in about 4 months.
    Seems to be plenty of pricefall headlines about at the moment

    Reply
    Please complete the required fields.



  • Last month the Nationwide said “prices inched up” by 0.1%. That has now been downgraded to 0.0% in todays numbers.

    I guess I’m paranoid about wordings too!

    Reply
    Please complete the required fields.



  • sibley's love child says:

    *Wrings hands*

    Excellent.

    Reply
    Please complete the required fields.



  • Graph watchers might like to compare the price of gold from 1970 with the price of houses over a wider timeline starting at 1980..

    ..i’d say we’re at the start of the second dip – approaching 1981 on this graph

    http://encikwan.com/wp-content/uploads/2010/01/gold-price-inflation-adjusted-2009.jpg

    (Think of one year of gold comparing to three years of houses)

    Reply
    Please complete the required fields.



  • Looks like the second top (return to normal) has now played out. It should be all downhill from here if the infamous life-cycle of a bubble is being followed. It certainly looks that way.

    Reply
    Please complete the required fields.



  • Half percent monthly fall – thats more like it! More please!

    Reply
    Please complete the required fields.



  • [email protected] – I agree with your sentiments entirely.
    The restatement of last month’s figures to level just means that they “borrowed” 0.1% from this month’s figures to allow them to post a positive number. This allowed for much more positive headlines such as “Inched up” rather than “flat”.
    All standard stuff from the spinners who do the stats.
    It does however mean that this month’s actual figure is -0.6% (always supposing they haven’t “borrowed” anything from next month).

    Reply
    Please complete the required fields.



  • I can already see the people at the BOE talking about another round of QE to support the UKs ”national product” – housing.

    Reply
    Please complete the required fields.



  • wdbeast,

    To be fair, if they wanted to play games with the numbers, they would never have admitted to a re-statement at all.

    That little bit of mea culpa tells me they are probably trying to be as honest as possible; and I’m not sure the Nationwide has anything to gain from trying to ramp the market at the moment.

    If I were running that company, I would be worried about a market collapse, but would be even more worried about a return to wild speculation. Letting nature take its course would be the prudent view.

    Reply
    Please complete the required fields.



  • “8. wdbeast said…[email protected] – It does however mean that this month’s actual figure is -0.6% (always supposing they haven’t “borrowed” anything from next month)”

    seasonally adjusted it is probably -2.5%!!!

    Reply
    Please complete the required fields.



  • Uncle tom- you have a generous nature, you put cynics like me to shame.

    I have spent many years manipulating data for publication of listed retail companies and I always imagine others to fudge the numbers as I have been instructed to.

    Inbreda – good point, the great LFL debate, just as in retail figures.

    Reply
    Please complete the required fields.



  • Actually who cares if they are right or wrong really. They are a reflection of peoples actions not vice versa. I don’t know why people (on here) get so upset by any spin put on these figures of by the media.

    If I don’t have my 25% deposit for a house I aint gonna buy one.

    I don’t buy into this people looking at the figures and then deciding. If that were right then how did we have the DCB before?

    Reply
    Please complete the required fields.



  • Yes Techieman,
    I agree. I just thought I’d point out the change. I’ve spent a lot of time re-arranging depreciation policies and the like so that the accounting numbers came out “a tiny bit higher than expectations”. That’s what the market likes….

    You said it before me …what will bring house prices down quickly is a substantial rise in interest rates or a rise in unemployment. Nationwide’s index is just a measure, after all.

    Reply
    Please complete the required fields.



  • Alan, agreed – We obviously share the same guilt complex, but after all it is the general sentiment that counts.

    The media are now starting to to be far more bearish about house prices, it will be interesting to see how these numbers from Nationwide are reported in the press tomorrow.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>