Wednesday, April 4, 2012

House Price Crash Cancelled!

Halifax: +2.2% MoM, -0.6%YoY

UK house prices got a boost in March. The Halifax index showed prices rising 2.2% on the month and falling 0.6% on the year.. Housing Economist Martin Ellis said: “Efforts by first-time buyers to beat the expiry of the stamp duty holiday at the end of March have probably increased sales in recent months and may have helped to support prices. "

Posted by little professor @ 08:24 AM (2991 views)
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14 thoughts on “House Price Crash Cancelled!

  • sibley's b'stard child says:

    Well, that’s me done, time to get loaded up with debt.

    Reply
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  • happy mondays says:

    Me too, of to get heavy mortgage for a one bed flat to fit my family of 4 in..Woo hoo back of the net!

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  • Asking prices of course, not sold prices.

    Same old houses coming back on the market around here which haven’t sold for several years. It is Spring after all, but has there been any real change in our earnings over the last few years – I don’t think so.

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  • Will,

    It’s the same around here – the same old houses at the same prices. The vendors have not yet realised that inflation is not making their properties more affordable, hence they will not get their asking price this side of 2020.

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  • happy mondays says:

    Where do these guy’s get there info from? Will it not be spun in there favor…The housing market can only keep going up, because that’s what they all keep telling me..We shall see.. Now off to do a triathlon, Swim atlantic, cycle the globe finish off with a short run across Australia..

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  • mark wadsworth says:

    The YoY and QoQ are looking reliable though.

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  • “We continue to expect little overall movement in prices this year provided that the UK economy does not suffer a pronounced weakening.”

    So prices will be stable until after the Olympics before resuming their downward trend.

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  • It’s like performing Cardiopulmonary resuscitation on a skeleton ( or a parrot) – it just won’t work, it’s dead!

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  • Hang on a minute – yesterday we were told that the cost of houses going up was punishing, now it’s a boost???? Oh no, that was the cost of the mortgage, not the cost of the house. That’s right I remember now, we live in a country where we expect the value of something we’ve bought to always go up by more than the cost of buying it so we can all have free money. Silly me – I’m obviously the mental one. Free money for everyone sounds great and highly sustainable – can’t we drop the base rate a bit more?

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  • Non-seasonally adjusted March MoM figure is +2.85%. Ouch.

    In other words, this data is bullsh1t. House prices have not risen nigh on 3% in a month, anywhere. Utter tosh.

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  • orcusmaximus says:

    Can anyone tell me how they worked out the quarterly figure to be -0.1%?

    The March standardised price of £163,803 is way higher than the December figure of £159,888

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  • little professor says:

    @12
    Quarterly figures are the average of the last three months (jan/feb/mar) compared to the previous three months (oct/nov/dec)

    @4 will
    these aren’t asking prices, they are sold prices

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  • Can someone compile the stats without the influence of the south east?…I think you will see a very different picture…

    Actually the Halifax, covers the whole of the UK. It’s the Nationwide that covers mainly the South East – I guess we shall soon find out whether the spring bounce had hit the South East….my guess is that it has….but by how much is the key.

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