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Boomed! - House prices have not fallen in January

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    Boomed! - House prices have not fallen in January

    http://news.bbc.co.uk/1/hi/business/7226907.stm

    However, the country's biggest mortgage lender said that house prices were rising at an annual rate of 4.5%.

    The gain in annual house price growth pushed the value of the average UK home to £197,244 - a rise of £7,628.

    #2
    Tulip ! Wish I hadn't sold that house last week, it's now in the bank on a miserly 6.2% rate of interest. Perhaps I should leverage up and buy a dozen or so BTLs

    Comment


      #3
      Originally posted by DimPrawn View Post
      However, the country's biggest mortgage lender said that house prices were rising at an annual rate of 4.5%.
      Aren't statistics great? That's based on the previous 12 months presumably. If we base it on January, then that's 0% x 12, which is, errrr, now let me think, 0%.
      Will work inside IR35. Or for food.

      Comment


        #4
        Originally posted by VectraMan View Post
        Aren't statistics great? That's based on the previous 12 months presumably. If we base it on January, then that's 0% x 12, which is, errrr, now let me think, 0%.
        Even worse, if you take the last three quarters ...

        "Despite the annual growth and prices remaining unchanged in January, the Halifax said there was evidence of a longer term slowdown.
        It said that prices fell by 1% in the three months to the end of January compared to the previous quarter. This was the third successive fall in prices on a three-month basis."

        If she weighs the same as a duck, she's made of wood. And therefore a witch!

        Comment


          #5
          Originally posted by VectraMan View Post
          Aren't statistics great? That's based on the previous 12 months presumably.

          No, it's even better than that.

          The values the mortgage company use are based on the land registry database, which as shown last night on Panorama, they can be somewhat over inflated quite easily.

          So whenever a mortgage company produces some stats on house prices, print it out and use it as loo paper, that's how useful it is. It's a bit tricky feeding Andrex double velvet into a printer though if you're suffering from piles. May need to get IT support in to help out.
          Feist - 1234. One camera, one take, no editing. Superb. How they did it
          Feist - I Feel It All
          Feist - The Bad In Each Other (Later With Jools Holland)

          Comment


            #6
            Originally posted by PAH View Post
            No, it's even better than that.

            So whenever a mortgage company produces some stats on house prices, print it out and use it as loo paper, that's how useful it is. It's a bit tricky feeding Andrex double velvet into a printer though if you're suffering from piles. May need to get IT support in to help out.

            Comment


              #7
              Originally posted by 51st State View Post
              It said that prices fell by 1% in the three months to the end of January compared to the previous quarter. This was the third successive fall in prices on a three-month basis."

              Shirley thats house price inflation, not house prices?
              Older and ...well, just older!!

              Comment


                #8
                Originally posted by ratewhore View Post
                Shirley thats house price inflation, not house prices?
                Yes, but that's worked out over the last 12 months. So if the inflation for the last 12 months is 1% less now than it was a month ago, then that means prices are falling now. It's just that they're still more than they were 12 months ago, so annual price inflation is still positive. I think they're relying on people not understanding that to make it sound less bad than it is (assuming I understand it right).

                Of course when you take into account general inflation, 4% is effectively zero (or not much anyway), and 0% is deflation.
                Will work inside IR35. Or for food.

                Comment


                  #9
                  After the BTL fraud revealed on panorama last night I'd be very wary of land registry prices, and house price inflation figures.
                  The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                  But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

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