Monday, September 10, 2007

Headlines confusion

I am doing some vague and lazy research to see whether it will soon be time to buy a bigger home, or whether the housing bubble will continue to grow before it bursts. (I am not in a hurry, I am not going to buy a house or big apartment in a ridiculously overpriced market.)

The headlines are no help. Just look below, where I have filtered out the most pertinent headlines from a page of links to articles. Two things are very clear: 1) the housing boom is over. 2) The housing boom continues.

Is it any wonder we're confused?

(Listen to this: "House prices in England and Wales have increased by 9.1% in the year to April, one of the highest annual rises in two years." ... "one of the highest annual rises in two years". Haha.)

I should add that personally I believe that the housing boom is over. But the thing is that I also believed that three years ago, and also had good reason back then.

---
Nationwide: property prices slowing
Aug 30: House price inflation in the UK last month eased to its lowest level since March amid signs that higher interest rates are having an impact on the property market.

Average house price will 'top £300,000 in five years'
Aug 6: More parents will have to pay for their children's mortgages as the 40% rise is expected to bring more grief for first-time buyers.
August

UK housing market 'overvalued by 20%'
July 30: The UK's housing market is now the third most overvalued among the world's major economies, a rating agency claimed today.
July

Halifax: house prices up 11.2%
Aug 2: House prices rose at a faster pace in July than June, the Halifax says this morning, but the underlying pace of growth in the market was easing.

Nationwide says housing boom goes on
June 28: House prices unexpectedly leapt 1.1% in June, the biggest rise since December, the strongest in more than two years.

House price inflation slips below 10%

Housing market 'coming off the boil'
July 16: House price growth slowed during May as the property market showed further signs that it may be losing momentum, government figures revealed today.

Nationwide: house prices to rise 8% in 2007

Interest rates 'beginning to bite'

London drives house price growth
May 30: House prices in England and Wales have increased by 9.1% in the year to April, one of the highest annual rises in two years.

DCLG confirms April house price rise
March

DCLG reveals cooling house prices
May 14

House prices stronger in March

House price growth tailing off

The boom is over, the price must yet be paid

Britain faces 20-year house boom that will 'split nation'
June 7: Homes for poorest will cost 10 times their income with an imbalance of supply and demand set to be a long-term problem.

First fall in ownership since 1950s
March 27: Home ownership in England fell last year for the first time since the 1950s as rising house prices made it difficult for first-time buyers to enter the market.

posted by Eolake Stobblehouse @ Monday, September 10, 2007   2 comments links to this post

2 Comments:

At 11 Sep 2007, 09:17:00, Anonymous Lancashire said...

"I am not going to buy a house or big apartment in a ridiculously overpriced market" - Lancashire is a great area of the UK and the house prices there are not ones to be compared with the "ridiculously overpriced" ones in London. (i work for Nestoria)

This made my day: "one of the highest annual rises in two years. Haha".

 
At 12 Sep 2007, 01:00:00, Blogger Pascal [P-04referent] said...

I don't see why you are confused at all.
It all appears perfectly clear to me:

The housing market is a ruddy mess.

Even worse than the one I used to have under my bed.

 

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