HPC over?!

stevetodd

I saw my first real value house today (on the net) unfortunately it is just a little too far from the tube/railway station and had a single bedroom (no no for renters). But we looked at a house in similar condition last summer on the same street which was on at 275k, this was on at a mouth watering 185k! Hard to tell from the details but could have been recently refurbished but certainly in good condition

skap7309

I knew it would create this headline. :rolleyes:

Up from the lowest recorded figure in history by.............................a pitiful 1000. :rolleyes:

Personally i put it down to sellers now digging their heads out of the sand and accepting lower offers and the HPC is hugely far from over. With the tiny figure of 32,000 approvals recorded last month it is hardly suprising it improved - but with a hardly suprising figure to boot.

adr0ck

skap7309 wrote: »

I knew it would create this headline. :rolleyes:

Up from the lowest recorded figure in history by.............................a pitiful 1000. :rolleyes:

Personally i put it down to sellers now digging their heads out of the sand and accepting lower offers and the HPC is hugely far from over. With the tiny figure of 32,000 approvals recorded last month it is hardly suprising it improved - but with a hardly suprising figure to boot.

yes but its also being compared to the highest recorded figure in history 12 months ago

going back to my post - does anyone know the figures for 2006

cheers

Realy

skap7309 wrote: »

I knew it would create this headline. :rolleyes:

Up from the lowest recorded figure in history by.............................a pitiful 1000. :rolleyes:

Personally i put it down to sellers now digging their heads out of the sand and accepting lower offers and the HPC is hugely far from over. With the tiny figure of 32,000 approvals recorded last month it is hardly suprising it improved - but with a hardly suprising figure to boot.

But for every sale there is a buyer so you have to put it down to increased buyer activity also.
They can drop prices but if there are no buyers the figures get lower and lower.

chewmylegoff

22 working days in September
20 working days in August (bank holiday taken into account)

mortgage approvals per day in August = 1,600
mortgage approvals per day in September = 1,500

conclusion: mortgage approvals still falling...

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chewmylegoff wrote: »

22 working days in September
20 working days in August (bank holiday taken into account)

mortgage approvals per day in August = 1,600
mortgage approvals per day in September = 1,500

conclusion: mortgage approvals still falling...

I wonder why that wasn't mentioned, I'm sure it will be mentioned later in the media, maybe on the BBC 6 o' clock news, mmmmmmm, maybe not:rolleyes:

Realy

chewmylegoff wrote: »

22 working days in September
20 working days in August (bank holiday taken into account)

mortgage approvals per day in August = 1,600
mortgage approvals per day in September = 1,500

conclusion: mortgage approvals still falling...

I thought the factory workers had a week off in September? why have you not factored that in?
Without going in to everyones holidays it is impossible to work out.
A months a month, its only a slight increase, stop worrying!

Paul_N_4

adr0ck wrote: »

how much are mortgage approvals down compared to Sept '06

that would be interesting as comparing with Sept '07 isn't really comparing it with anything sensible

anyone know?

http://www.bankofengland.co.uk/statistics/ms/2008/Oct/taba5.4.xls

Over 100,000 approvals in Sept '07, so down 68% from a year ago.

I've read on another forum that the next low was briefly 70,000 approvals in 1994 (data started in 1993). Thorughout the '90s and during 2005 approvals were hovering around 80,000-100,000 and prices seemed to remain largely static over these periods of time, so you could assume at least 80,000 approvals is needed to underpin prices.

Approvals will likely continue to see small increases but whilst they still remain below roughly 80,000, my view is prices will continue to fall as supply outstrips demand.

tr3mor

adr0ck wrote: »

yes but its also being compared to the highest recorded figure in history 12 months ago

going back to my post - does anyone know the figures for 2006

cheers

:money:

vigesimal

Realy wrote: »

I thought the factory workers had a week off in September? why have you not factored that in?
Without going in to everyones holidays it is impossible to work out.
A months a month, its only a slight increase, stop worrying!

School holidays in August. A favourite time to be on holiday for families.