House Prices Fall 0.5% in June
Published / Last Updated on 08/07/2009
House Prices Fall 0.5% in June
Yet again, we have differing results from Nationwide and Halifax.
Earlier this month, Nationwide claimed that house prices rose by 0.9% whereas Halifax have now issued their property prices index for June suggesting that prices fell by a further 0.5%.
Interesting? We think so.
We suggest there is an element here of the quality of mortgage lending that has gone on in the past. Nationwide has tended to stick to good quality lending on normal income multiples with no Bank of England ‘bail out’ whereas the Halifax was one the Banks, as part of the Royal Bank of Scotland Group, that were underpinned by being taken over by Lloyds and ultimately, Lloyds then becoming nationalised.
Is this why we see Nationwide having a history of house price increases results because the quality is better? Or are they talking up the market? We guess we will never find out.
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