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Thread: "House Prices Rise For First Time Since 2007"

  1. #1
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    Default "House Prices Rise For First Time Since 2007"

    House prices rose for the first time in 16 months during March, according to a report by the Nationwide.

    The cost of a home in the UK increased by 0.9% during March, pushing average values back up above £150,000 to £150,946.

    The surprise increase saw the annual rate of house price decline move from a record 17.6% in February to 15.7% in March.

    However, Nationwide warned against reading too much into the monthly price rise, saying that it was "far too soon" to see it as evidence that the bottom of the market had been reached.

    Fionnuala Earley, Nationwide's chief economist, said: "It is still too soon to say that this will be the beginning of sustained house price rises and a reflection of a wholesale return of confidence to the market."


    Ms Earley added that the current upturn in activity was likely to reflect the return of buyers who had delayed purchasing a home during the worst of the financial turbulence at the end of last year.

    The house price figures come days after the Bank of England said the number of mortgages approved for house buying jumped by 19% during February.

    The Royal Institution of Chartered Surveyors also said that interest from potential buyers rose for the fourth month in a row during February.

    Leaders of the world's largest economies are close to an agreement to tackle the global financial crisis....

    Here's hoping that that economy will get better, if the housing market is picking up, the job market is picking up and people are starting to spend again..

    Then future looks bright....

  2. #2
    Vec-C Facebook Admin thegoldenbullet's Avatar
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    Quote Originally Posted by NellyD View Post
    House prices rose for the first time in 16 months during March, according to a report by the Nationwide.

    The cost of a home in the UK increased by 0.9% during March, pushing average values back up above £150,000 to £150,946.

    The surprise increase saw the annual rate of house price decline move from a record 17.6% in February to 15.7% in March.

    However, Nationwide warned against reading too much into the monthly price rise, saying that it was "far too soon" to see it as evidence that the bottom of the market had been reached.

    Fionnuala Earley, Nationwide's chief economist, said: "It is still too soon to say that this will be the beginning of sustained house price rises and a reflection of a wholesale return of confidence to the market."


    Ms Earley added that the current upturn in activity was likely to reflect the return of buyers who had delayed purchasing a home during the worst of the financial turbulence at the end of last year.

    The house price figures come days after the Bank of England said the number of mortgages approved for house buying jumped by 19% during February.

    The Royal Institution of Chartered Surveyors also said that interest from potential buyers rose for the fourth month in a row during February.

    Leaders of the world's largest economies are close to an agreement to tackle the global financial crisis....

    Here's hoping that that economy will get better, if the housing market is picking up, the job market is picking up and people are starting to spend again..

    Then future looks bright....
    The future looks Orange. hehehe

  3. #3
    Regular Member Deadman's Avatar
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    Nationwide says house prices are up and

    We have ghost towns from the Sun,
    http://www.thesun.co.uk/sol/homepage/news/...icle2353113.ece

    1000 jobs are lost at a plane maker in Belfast,
    http://uk.biz.yahoo.com/02042009/140/hundr...raft-maker.html

    More pain from money week
    http://www.moneyweek.com/news-and-charts/e...nomy-14706.aspx

    Gilts are looking shaky
    http://www.bloomberg.com/apps/news?pid=206...mp;refer=europe

    Cost of everyday essentials going through the roof
    http://www.dailymail.co.uk/news/article-11...nual-bills.html

    Manhattan real estate tanks
    http://money.cnn.com/2009/04/02/real_estat...sion=2009040204

    Some Swiss thing is cutting 1000 jobs
    http://news.bbc.co.uk/2/hi/business/7978199.stm


    Ho hum.

  4. #4
    Regular Member john_k_sri's Avatar
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    Vehicle : Vectra

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    Year : 2007

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    Default

    Another false dawn, people are still losing jobs and homes at an unprecedented rate. What people need is more SECURITY not comparatively meaningless statistics.

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    Default

    Things have to start getting better somewhere though, and the housing market is as good a place as any..

  6. #6
    Regular Member wiggy's Avatar
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    if everyone stopped watching the news and kept just getting on with there lives, then this recession wouldn't have got half as bad as it is and we'd be further on towards getting out of it.

  7. #7
    Regular Member steve1975l's Avatar
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    Prices haven't dropped here yet...still £210k+ plus for a 1 bed starter home.

  8. #8
    Full Member izonoky's Avatar
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    I think it's just a blip, myself. If/when prices do start their upward trend interest rates will start to climb too.

    2.2 Direct SRi

  9. #9
    Ex Vec-C Admin ed taylor's Avatar
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    Quote Originally Posted by wiggy View Post
    if everyone stopped watching the news and kept just getting on with there lives, then this recession wouldn't have got half as bad as it is and we'd be further on towards getting out of it.
    Yes well said. The Media has a lot to answer for, Or should I say NO ONE to answer to, and in return cause more problems than they solve.

  10. #10
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    Quote Originally Posted by wiggy View Post
    if everyone stopped watching the news and kept just getting on with there lives, then this recession wouldn't have got half as bad as it is and we'd be further on towards getting out of it.
    Too true mate, have to agree .

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