Mortgage approvals leap by 19 per cent (merged)

Dan:_4

ad9898 wrote: »

Honestly Dan, do you really think so ?



I would find that absolutely amazing if it were to happen.

What is it with you and this graph? What does it prove?

Jonbvn

Dan: wrote: »

LoL...how is it serious spin?

Gien that approvals are at such low levels, minor fluctuations appear as significant movements.

BTW, although the Torygraph is bearish, their property section still has many writers who are quite the opposite wrt property.

ess0two

ad9898 wrote: »

What's good about it ?, that more people have put the albatross of debt around there neck when prices are falling, still it takes all sorts I guess.

Equally whats bad about it?people seem to fear houses are gonna take off again,doubtful.

Really2

Is this not the 3rd month on month increase.

3 months of increases needs to be taken a bit more seriously 1/4 of a year is not an just a coincidence or a rouge month.

Really2

fatpig wrote: »

Classic dead cat bounce. Boing!!!

Is it? I thought you could only spot one after they had dropped again?

chucky

Cannon_Fodder wrote: »

the number of approvals at such low levels need to be taken with a pinch of salt.

are they going to be those keenly offering asking price, or some canny people spotting a bargain/negotiating hard?

I think an increase in activity will help cement the price reductions so far, as each street/area gets more examples of cheap completions, for those in denial to be shown by their EAs when still not selling after 6-12 months, and needing to re-price...

sales volumes are low anyway - how can you have the argument that it doesn't count or take it with a pinch of salt.

it's the same argument with house price drops - volumes of sales are very low - minor fluctuations appear as significant movements.

shall we discount them too or doesn't it suit your point of view? :rolleyes:

luvpump

StevieJ wrote: »

Is the current house price sat on the trend line ?

Yep its clear to see from the graph that the fall in prices will stop as of today :rolleyes: .. Anyway as we have entered the deepest Recession since ww2 ...That might just have some bearing on things dont ya think .... In short, prices have a way to fall yet.

GDB2222

The reason that mortgage approvals were up in February (compared to January) is that there is a marked seasonal effect, as can be seen from the attached graph. Mortgage approvals in January are largely based on transactions in December, which is a very quiet month in the property market. It is hardly surprising that February 2009 mortgage approvals are higher than January 2009, as that happens every year.

System

If I could see just ONE person who doesn't strike me as a biased, recession loving maniac intent on seeing everyone bankrupt then I might start taking these "prices to fall to 15 pence" claims seriously, until then I'll just stick with the facts.

Too many bitter little individuals post what they WANT to happen as fact here, no wonder the board is being moved where the general public won't find it.

the_ash_and_the_oak

I dont personally believe an increase in approvals (at least one of this size coming at this time of year where should be a month increase anyway) as leading to a levelling off of prices in 2009.

However I think rises in approvals should be considered a good sign whether you want prices to fall or rise. It allows more people to move out...and more people to move in. An increase in approvals is at least leading more people to get where they want to be (rightly or wrongly is irrelavant) - it should also allow prices to reach a more natural level sooner
.