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Showing posts from May, 2013

Q1 2013 UK House Price Update...

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Mixed results this quarter for house prices. In real terms , (non-seasonally adjusted) prices reported by Nationwide fell by £700 this quarter for the UK as a whole. For Halifax, the same figure is an increase of £800. For Northern Ireland, the average of Nationwide and Halifax figures show an increase of £2600! One swallow does not a summer make, so I await to see if the trend remains for more than one quarter. You can see from the long-term graph that price changes tend to be slow and that trends can only be established over periods of years, not months. I've updated the graph a little to show current house price "crash" vs. the previous one in the 90s. In both cases, "crash" is an exaggeration - it's really just a long-term correction and only visible if prices are viewed in real terms . I'm still waiting to see what happens with the government's various house price supports ("Funding for Lending" and "Help to Buy").