Interest rate rises put brakes on house prices in 'orderly slowdown'

原创 2007年09月14日 08:54:00
The lender said that house prices had risen by less than 0.5% a month in three of the past four months, a sure sign the housing market was slowing in response to a string of rate rises in the past year.

It said the three-monthly pace of increase - a good indicator of the underlying state of the market - had slowed to just 1.6% from 4.5% in March.

Halifax chief economist Martin Ellis said: "While the market remains robust, this provides further evidence that house price inflation has slowed since the beginning of the year.

"The downward trend in house price growth is expected to continue over the remainder of 2007 as the five interest rate rises since last summer have an increasing impact on household spending and housing demand."

He said that high levels of employment and a shortage in the number of properties available for sale would prevent the market slumping. He also predicted that the annual pace of increase would slow sharply as the strong rises of summer and autumn last year drop out of the figures.

Halifax said the level of new buyer interest fell for the eighth successive month in July, marking increasing caution among potential buyers.

House prices have more than tripled in the past decade due to low interest rates, rising employment and pay. Halifax said the average house price in this country is now just a shade under £200,000.

Richard McGuire, analyst at RBC Capital Markets, said that although the housing market may be losing momentum it displayed resilience. But he added: "The orderly nature of this slowdown and the accompanying residual support the housing market promises to afford the consumer, stands to ensure the risk to the Bank's policy rate remains slanted to the upside for a while yet."

Separately, the purchasing managers' monthly survey from the Chartered Institute of Purchasing & Supply and NTC Economics showed unexpected growth and optimism in the service sector last month, suggesting again that higher interest rates and credit market troubles are not damaging the economy. The CIPS index, which covers businesses ranging from hotels to financial services,rose to 57.6 last month from 57.0 in July. Analysts had forecast a drop to 56.5. Above 50 indicates growth.

Sentiment in financial services also remained relatively high, despite recent hedge fund collapses and investment fund bail-outs. Howard Archer at Global Insight, said: "There is little evidence from the service sector survey that the financial market turmoil is currently feeding through to dampen activity, although it is probably premature to expect this."

Analysts said that resilience in the service sector, which accounts for three-quarters of the economy, may renew the case for another interest rate rise this year.

 

kaggle中的可视化(一):House Prices

kaggle中预测的get started项目,原文链接。 看原文可以入门特征工程,这里主要说可视化部分,用到matplotlib和seaborn。...
  • darknightt
  • darknightt
  • 2017年04月14日 14:31
  • 1258

数据预处理系列:(一)从外部源获取样本数据

从外部源获取样本数据 如果条件允许,学本系列内容时尽量用你熟悉的数据集;方便起见,我们用scikit-learn的内置数据库。这些内置数据库可用于测试不同的建模技术,如回归和分类。而且...
  • u013719780
  • u013719780
  • 2016年06月25日 22:44
  • 6861

iOS in-house发布基础知识

1、 In-House 发布步骤 1.1        安装相关证书 1.2        更改Bundle Identifier,签名 在target - info 中更改Bund...
  • SampooWoo
  • SampooWoo
  • 2014年10月20日 15:45
  • 5738

Interest Rate Swaps And Their Derivatives- A Practitioner's Guide

  • 2010年11月17日 05:02
  • 7.54MB
  • 下载

kaggle Code :House Prices: Advanced Regression Techniques 回归

The most difficult thing in life is to know yourself' This quote belongs to Thales of Miletus. Thal...
  • u010016927
  • u010016927
  • 2017年07月19日 22:48
  • 518

QuantLib教程(二)QuantLib的Interest Rate

Interest Rate The InterestRate class can be used to store the interest rate with the compounding typ...
  • qtlyx
  • qtlyx
  • 2017年05月10日 21:24
  • 1246

kaggle中的可视化(一):House Prices

kaggle中预测的get started项目,原文链接。 看原文可以入门特征工程,这里主要说可视化部分,用到matplotlib和seaborn。...
  • darknightt
  • darknightt
  • 2017年04月14日 14:31
  • 1258

Kaggle项目——House Prices缺失值填充

此文是对Kaggle上的新手入门项目——HousePrice的实践记录,因为觉得在这个项目中,缺失值的填充和特征工程尤为重要,因此,在此做一个记录。此博文主要对缺失值处理做一个记录。...
  • sinat_33519513
  • sinat_33519513
  • 2018年01月03日 21:41
  • 48

House Prices (1):python 探索性数据分析

如题,这是一个kaggle的训练赛。目标是预测房价。评分指标是房价预测值与观测值取log后的RMSE,并且赛题指出取对数使得对较贵房子的预测误差和对便宜房子的预测误差对结果有同样的影响,为什么?先把公...
  • Wayne2019
  • Wayne2019
  • 2017年08月04日 17:26
  • 620

Machine Learning Foundations: A Case Study Approach-Regression-Assignment: Predicting House Prices

Predicting house pricesIn this module, we focused on using regression to predict a continuous value ...
  • dingchenxixi
  • dingchenxixi
  • 2016年06月26日 21:07
  • 2040
内容举报
返回顶部
收藏助手
不良信息举报
您举报文章:Interest rate rises put brakes on house prices in 'orderly slowdown'
举报原因:
原因补充:

(最多只允许输入30个字)