Mortgage Approvals Up Again - 3 Months in a row

Dan:_4

A rise in mortgage approvals by the major banks for the third month in a row has brought some cheer to the housing market.
The British Bankers' Association (BBA) said that there were 28,179 mortgages approved for house purchases in February, up from 24,278 in January.

http://news.bbc.co.uk/1/hi/business/7960887.stm


----

It will take a long time to see any real recovery, and im sure prices will still fall in the coming months, but more and more evidence in emerging that the bottom is near.

Conrad

My bottom remains this summer. Out in the City recently and it was queues outside the bars and restaurants. Noticing new build prices have firmed up.

robin_banks

tbh, this recession has only just begun.

To me it's a sign that some sellers are starting to value properties realistically as opposed to any real recovery.

ad44downey

Dan: wrote: »

A rise in mortgage approvals by the major banks for the third month in a row has brought some cheer to the housing market.
The British Bankers' Association (BBA) said that there were 28,179 mortgages approved for house purchases in February, up from 24,278 in January.

http://news.bbc.co.uk/1/hi/business/7960887.stm


----

It will take a long time to see any real recovery, and im sure prices will still fall in the coming months, but more and more evidence in emerging that the bottom is near.

What a load of nonsense. That's like saying RBS falling from nearly £4 per share to about 10 pence and then rising to 11 pence is the start of a recovery. :rotfl:

StevieJ

tbh I see the bottom now

Generali

StevieJ wrote: »

tbh I see the bottom now

The light at the end of the tunnel is just an approaching train.

Topov_3

First we hear that the US has reached the bottom and now we start seeing signs that the UK is set to follow suit (we're always a few months behind the US in everything).

Just because people are desperate for houses to drop to 50p doesn't mean your wishes will come true. Just because people like generali play the populist vote and talk down the market wont stop the market from turning.

Get your houses quick while property prices are still depressed and mortgage rates are still low. As soon as the economy turns and sellers start feeling better your negotiation advantage will be lost.

robin_banks

When will that be topov ?, not being provocative.

Generali

Topov wrote: »

First we hear that the US has reached the bottom and now we start seeing signs that the UK is set to follow suit (we're always a few months behind the US in everything).

Just because people are desperate for houses to drop to 50p doesn't mean your wishes will come true. Just because people like generali play the populist vote and talk down the market wont stop the market from turning.

Get your houses quick while property prices are still depressed and mortgage rates are still low. As soon as the economy turns and sellers start feeling better your negotiation advantage will be lost.

Do you think a series of massive asset price bubbles followed by the near collapse of the world's banking system is going to blow over in a few months? What process do you think will allow asset prices to rise quickly in the near future?

Conrad

Generali wrote: »

Do you think a series of massive asset price bubbles followed by the near collapse of the world's banking system is going to blow over in a few months? What process do you think will allow asset prices to rise quickly in the near future?

I'm not sure he has assets prices rising quickly in mind, just a bottoming out in the comming months.

Thrugelmir

As the banks are now the only major lenders left, hardly surprising that they are showing growth in lending. Even the banks lending is down 31% on a year ago so little to suggest that this is news to get excited about. There will always be a level of activity in the market and nothing yet has suggested that the market will pick up nationally. The lack of available money at low interest rates will hold the market down for the foreseeable future.