Nationwide Building Society House Price Index Sept 20 Nationwide Building Society House Price Index Sept 20
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  1. #1

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    Default Nationwide Building Society House Price Index Sept 20

    Key points:

    - Annual price growth picked up to 5.0% in September, the highest rate since Sep 2016

    - Prices rose 0.9% month-on-month, after taking account of seasonal factors

    - Most regions saw a pickup in house price growth rates in Q3

    Full report here:

    https://www.nationwide.co.uk/-/media...ep_Q3_2020.pdf

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    It's not just the growth, the volume of transaction surprises me given current market conditions. What's driving that?

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    Also surprising because banks are pulling deals and upping interest rates on a daily basis so who the feck is buying?

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    Quote Originally Posted by PCTNN View Post
    Also surprising because banks are pulling deals and upping interest rates on a daily basis so who the feck is buying?
    2 really good questions. Right now I would say I am seeing lots of first time buyers who have been renting and want to take advantage of the stamp duty holiday.

    The second demographic I would say are those who are bringing forward their plans to leave the cities and move to commuting towns where they can get a bit more square footage and outdoor space.

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    pent up demand due to lockdowns and stamp duty holiday is driving this market
    Maybe it will crash next year when tsunami of job lossses will come

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    Quote Originally Posted by Andy2 View Post
    pent up demand due to lockdowns and stamp duty holiday is driving this market
    Maybe it will crash next year when tsunami of job lossses will come
    I wonder if people are locking in a move while they still have a job and can get a mortgage?

  7. #7

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    Quote Originally Posted by ladymuck View Post
    I wonder if people are locking in a move while they still have a job and can get a mortgage?
    ^^ A strong possibility. As is the pent-up demand.
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    Quote Originally Posted by PCTNN View Post
    Also surprising because banks are pulling deals and upping interest rates on a daily basis so who the feck is buying?
    Anyone with spare capital is buying. It's like a game of Monopoly, those who have will win, those who don't become lose worse off.

    I cannot foresee any real growth for the majority of Brits for at least 20 years to come.
    "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

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    Quote Originally Posted by ladymuck View Post
    I wonder if people are locking in a move while they still have a job and can get a mortgage?
    Good point, they may be downsizing to lower liabilities.
    "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

  10. #10

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    It's mad to buy now, unless in an undervalued area.

    Wages have deflated, not inflated, for most professionals I know once inflation is accounted for. Given the forthcoming hardship that most posters here expect it would be extremely dumb, unless you are very cash rich, to buy a property right now.

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