Nationwide Building Society July House Price Index

[Martin@AS Financial]

Key Points:

- House price growth steady in July

- House prices increased by 0.5% in July

- Annual house price growth similar to last month at 5.2%


Link below

http://www.nationwide-intermediary.c.../HPI_07_16.pdf

[Flashman]

Key Points:

- House price growth steady in July

- House prices increased by 0.5% in July

- Annual house price growth similar to last month at 5.2%


Link below

http://www.nationwide-intermediary.c.../HPI_07_16.pdf

Brexit disaster!, brexit disaster! ...oh

[OwlHoot]

Key Points:

- House price growth steady in July

- House prices increased by 0.5% in July

- Annual house price growth similar to last month at 5.2%

Link below

http://www.nationwide-intermediary.c.../HPI_07_16.pdf

But a brief squint at those graphs seems to suggest that everything is well into a steep and steady downward trend

(starting, before some Remainer pipes up, months before the Brexit vote)

[SuperZ]

But a brief squint at those graphs seems to suggest that everything is well into a steep and steady downward trend

(starting, before some Remainer pipes up, months before the Brexit vote)

I keep reading comments along the lines of "started before the Brexit vote" about varios things that started before Brexit, as if it gives argument to the vote not affecting the market but I think the market was already fearing a Brexit even before the vote which caused the start of the downward trend. A remain would have caused a rebound,probably, but Brexit confirmed continuation of the downward trend. Just because a downward trend didn't start the day of Brexit doesn't mean Brexit had little impact.

Property is an inefficient market, it takes time for it to react. In the past for example, house prices crashed many months after the stock market did - think a few cases it was roughly 18months after. Should stocks are hammered again in future "if" Article 50 is invoked, house prices will be hit hard too I think.

Anyone with property in London is DOOOOOOOOMED .Overpriced hell of a hole.

[NigelJK]

Anyone who has bought a property will tell you it takes months to complete. So the figure show uncertainty in the lead up to the vote. Quell surprise.

[Martin@AS Financial]

Its interesting as the figures are based on mortgage offers and not completions.

We won't really see the impact of the vote if any for a couple of months. It's worth noting that any analysis needs to take into account August and September when many would be buyers are on holiday.


One of the main points from the report however is:

“Even if there is a fall back in demand as a result of economic uncertainty, the impact on house prices is not certain, as potential sellers may also hold off from placing their properties on the market. The stock of homes on estate agents’ books is already close to its lowest levels for thirty years, and surveyors have reported a decline in new instructions to sell alongside a fall in buyer enquiries. Moreover, housebuilders may react tothe uncertainty by delaying construction, even though home building is already failing to keep up with the natural increase in the population."