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House prices set for double-digit increase, Nationwide predicts

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    House prices set for double-digit increase, Nationwide predicts

    House prices are on course for double-digit growth on an annual basis next month for the first time in three years, Britain’s biggest building society said.

    The forecast by Nationwide came as the lender reported a higher than expected 1.2 per cent average price increase in January, taking the rise to 8.6 per cent since the same month last year. Reports due out on Monday are expected to reinforce the view that prices have strengthened and to show that economists have revised their forecasts upwards for this year, based on signs of better mortgage lending.

    Martin Gahbauer, chief economist for Nationwide, said: “Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month.”

    More: http://www.timesonline.co.uk/tol/mon...cle7009085.ece

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    #2
    I'm in the money I'm in the money
    Confusion is a natural state of being

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      #3
      What's much worse is that the choice of properties for rent seems a but tulipe and those available seem to have rent prices well up

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        #4
        Absolute bo**cks IMO. The last 18 months has been a phoney recession for most people since their mortgage payments and other debt payments have fallen a lot, so they have had more cash to spend than ever before. We will see that most folks standard of living actually falls year on year for at least the next 5 years as taxes and interest rate rises bite. By 2015 houses may even cost less than today, certainly in real terms I reckon.
        Public Service Posting by the BBC - Bloggs Bulls**t Corp.
        Officially CUK certified - Thick as f**k.

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          #5
          House prices are high because nobody is selling - mortgages are at their most affordable for a decade (I've made that up without checking but I don't think it's that far off the mark).

          It's questionable as to the number of forced sales we'll see in the next year to 18 months. This will depend on how whoever wins the election deals with the deficit and how many people are out of work.
          ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

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            #6
            Originally posted by Diver View Post
            I'm in the equity I'm in the equity
            FTFY.
            ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

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              #7
              Reduction in places available for rent and increase in rent is annoying - it should have been the other way around.

              But as Fred says recession is unusual in that for a lot of people morgage payments actually went down - disbalances are still in the system and the only way can balance this system out is high inflation.

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                #8
                Bang! Bang!

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                  #9

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                    #10
                    Originally posted by AtW Super poster View Post
                    Bang! Bang!
                    Ohhh ....very good
                    How fortunate for governments that the people they administer don't think

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