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TheCountOfNowhere

The Halifax Bollocks Index

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I know there's a house price index thread but the Halifax index needs a special mention.

House prices up 5.9% in a month, that month being February, so up 5.9% in 28 days, that's 0.2% per days, or around £500 a day

An average house has earned half an average annual wage in 28 days.

Total bollox of course and if they are lending 6% more on houses Mom they'll collapse (again) in 6 months.

Sounds like low volume data, which would only happen when the market is in a state of collapse.

2019/2020 will see an end to this lunacy.

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Estate Agent (17 plate pch Hyundai Tucson) was leafletting the roads near me that was bragging about shifting a 3 bed semi in 7 days from market.

Supposedly has 4 buyers primed and ready to go on another.

Nobody is selling as there is nowhere to go that's better without saddling yourself with +£120-150K.

All the newbuilds for the same money are wank.

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22 minutes ago, TheCountOfNowhere said:

2019/2020 will see an end to this lunacy.

^ Here's hoping !

I'm looking around and there's very little being advertised. What does appear (and remains unsold) are overpriced probate sales & rebuild/repossession projects, or overpriced "normal" homes (surprisingly - some are selling even at the over-inflated prices).

Govt 20% "Help-to-buy" scheme is setting new build prices artificially high and that has a knock-on effect to the rest of the market.

The market seems to be in limbo, a stand-off between potential sellers not advertising, and buyers waiting to see what happens next.

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7 hours ago, Andersen said:

^ Here's hoping !

I'm looking around and there's very little being advertised. What does appear (and remains unsold) are overpriced probate sales & rebuild/repossession projects, or overpriced "normal" homes (surprisingly - some are selling even at the over-inflated prices).

Govt 20% "Help-to-buy" scheme is setting new build prices artificially high and that has a knock-on effect to the rest of the market.

The market seems to be in limbo, a stand-off between potential sellers not advertising, and buyers waiting to see what happens next.

You mean help-to-sell

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YEP...Halifax...Really are a bunch of f***KIN Pricks!

Here's the TRUTH...

https://uk.finance.yahoo.com/news/uk-house-prices-rose-sharply-101800963.html

Meanwhile, Samuel Tombs at Pantheon Macroeconomics said the volatility shown in the latest figures provoked little confidence in Halifax’s index :wanker:  as a reliable indicator of the housing market”.xD

“Its extreme volatility… undermines its validity,” he added. “Like others, the index is seasonally adjusted, but it uses an outdated methodology which potentially is contributing to its excessive volatility. All other indicators suggest that house prices essentially are on a flat trend.”

 

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