Monday, February 6, 2012
+0.6% MoM, -1.8% YoY
January INdex
Well, at least the quarterly and yearly figures look more reliable!
Posted by phdinbubbles @ 08:58 AM (3423 views)
21 thoughts on “+0.6% MoM, -1.8% YoY”
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phdinbubbles says:
Haliwide non-seasonally adjusted:
Haliwide seasonally adjusted:
richy richless says:
Death by a thousand cuts, the market needs forced sellers
Thecountofnowhere says:
If you look at the official data it shows 12 months in a row the price was down on the previous year !!!
Wageslavex14 says:
The previous two months’ figures appears to have been revised down – I don’t recall two months of 1.0% falls in November and December. The release now says that prices fell below the £160k mark in December ’11.
khards says:
At least the house price to earnings ratio is heading in the right direction, however it will still be another 5 – 10 years before we aer back at 3.5x.
mark wadsworth says:
Agreed, the QOQ and YOY look very reliable, January figures alone are meaningless 🙂
hash browne says:
Why do I get the feeling all of these indices are being manipulated to avoid dropping below the £160k barrier? It will obviously have a significant psychological effect on the public if we ever get there, I.e 159,999 appears much cheaper than 160,000.
Also, guaranteed EXPRESS headline tomorrow. I’m going for ‘HOUSE PRICES BOUNCE BACK IN 2012’.
stuartking says:
Howard Archer, chief UK and eurozone economist at IHS Global Insight, said the monthly increase in January did not alter his view that house prices were likely to decline by 5% this year. He said: “We suspect that low wage growth, rising unemployment and persistent concerns over the economic situation and outlook will limit potential buyers and weigh down on house prices.”
http://www.sundaysun.co.uk/news/uk-world-news/2012/02/06/low-interest-rates-peg-house-prices-84229-30274638/
doomwatch says:
MoneyWeek’s leading indicator for the UK housing market also seems to be bouncing back
http://uk.finance.yahoo.com/echarts?s=CPR.L#symbol=cpr.l;range=20000104,20110120;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
hpwatcher says:
next thing will be ”spring bounce”
funny how *spring bounce* now seems to last all year round…….
hpwatcher says:
Why do I get the feeling all of these indices are being manipulated to avoid dropping below the £160k barrier? It will obviously have a significant psychological effect on the public if we ever get there, I.e 159,999 appears much cheaper than 160,000.
99.9% of the UK are engaged in this deception, manipulation.
greenshootsandleaves says:
richy richless @ 09:09 ‘… the market needs forced sellers’
Yes, but it doesn’t look as though the banks need them, so that’s pretty much it (for the time being, at least).
khards says:
We are just in a short ‘blip’ up because the days are getting a little longer. Wait until next month and every thing will be back to doom & gloom.
On another note I must get myself a short position on the FTSE this week (XUKS).
doomwatch says:
Here’s a bit of nice anecdotal. Just found out that an EA manager here in the “greedy Cotswolds” has hired an individual
to phone difficult vendors to persuade them their houses aren’t selling either because they’re dumps or they’re over-priced.
Apparently he hates having to phone difficult vendors doing this, so he’s actually created a unique roll; sign of the times ?!
sibley's b'stard child says:
Great anecdote DW, tis an ideal time to be an ‘Executive Expectation Manager’.
As for the Hali index, yeah, whatever. Let’s see who blinks firsts.
khards says:
DW, If I was the estate agent I would contact them and tell them that the house is not gathering any interest at that price would they like to reduce the price. If they say no then tell them that you will keep it on your books for a further 4 weeks before they have to either drop the ‘asking price’ or find another agent.
Is this just to logical? I would rather have 6 houses that sell quickly than 100 houses that have no chance of selling. I believe that the smaller agents around my way operate like that.
jack c says:
“greenshootsandleaves said…richy richless @ 09:09 ‘… the market needs forced sellers’ – Yes, but it doesn’t look as though the banks need them, so that’s pretty much it (for the time being, at least). Monday, February 6, 2012 02:05PM”
I’ve just posted a story on Goldilocks and the forbears
mark wadsworth says:
Khards, it would be interesting to find out how much it costs and EA to “keep a house on the books”. If it’s only £10 a week (for example), then it’s worth hanging on to it on the outside chance that it actually sells.
hpwatcher says:
If I was the estate agent I would contact them and tell them that the house is not gathering any interest at that price would they like to reduce the price. If they say no then tell them that you will keep it on your books for a further 4 weeks before they have to either drop the ‘asking price’ or find another agent.
That brakes the rule of the ‘greater fool theory’ so not really viable.
doomwatch says:
khards @14. Don’t bother applying to the apprentice this year mate.
The general “game” at the moment for “savvy” EAs is to let the snobs market their properties with Hampertons or Slutt & Porker at 20-30%
over sanity, then mop up after 2 months of not selling. However, even these “inherited” properties now aren’t shifting through the less
“upmarket” local chains, so the “game” is up really.
khards says:
I have a word for all this: Stupidity!