Number Of People Buying Homes Jumps 29%

the_ash_and_the_oak

have to agree w joe here somewhat w that graph. does always seem rise as sharply as it falls. and occasionally the rises and the falls are of roughly the same size.

regardless of that - do think approvals will rise from here. don't see this as bullish indicator tho fwiw

ad9898_3

Plasticman wrote: »

Can somebody remind me, what is 29% of f*ck all?

Come on dude, the answer is easy, it's f**k all.:D

StevieJ

the_ash_and_the_oak wrote: »

Made some succint points prev btw. not really feeling this one tho tbh. Lot of places to live in uk imo - never had any probs finding anywhere myself before

You can always find somewhere but finding somewhere that you would put the readies down for is a different matter. I am noticing that there are less available properties than at the height of the boom

mbga9pgf

Dont worry. They will realise 2007 prices are gone for good soon and next thing you know, lower prices become the norm.

chucky

Plasticman wrote: »

Can somebody remind me, what is 29% of f*ck all?

ad9898 wrote: »

Come on dude, the answer is easy, it's f**k all.:D

easy guys... take it up eith CML... it's not a recovery or green shoots, you'll probably still get your house

how about the bit about about the highest since April 2005 - how do you feel about that...

There was also a steep rise in the number of people buying their first home, with 12,500 first-time buyers taking out a mortgage during the month.

These account for 40% of all loans, the highest proportion since April 2005.

puddy

so those mortgage completions, are they all buyers or are they a mixture of buyers and remortgagers?

chucky

jenner wrote: »

so those mortgage completions, are they all buyers or are they a mixture of buyers and remortgagers?

both... remortgaging was up 8% on March, but still 45% lower than March 2008.
remortgaging makes up the higher volume of loans

so story is remortgaging up 8% and new mortgages up 29%

First-time buyers on average borrowed three times their income and 75% of the value of their property in March. Both these average measures were unchanged from February. For those with deposits large enough to enable them to buy, the combination of low interest rates and lower house prices mean that their monthly interest payment now equates to only 15.1% of their income, the lowest proportion since June 2004 (15.1%).

lynzpower

Its a combination of quickbuy companies, auction sales increase, and a few STRs dripping back into the market. A few FTBs who might have finally saved 10%.

Lower prices means more buyers - its quite simple and it does need to happen- after all where are moneysavers going to get those low comps from

Wont be MPs ( had to be the first to say it....)

the_ash_and_the_oak

StevieJ wrote: »

You can always find somewhere but finding somewhere that you would put the readies down for is a different matter. I am noticing that there are less available properties than at the height of the boom

dunno bout this - feel there's always been plenty good places around whenever I've needed to move. Defn feeling the place I'm in right now imo

Plasticman

chucky wrote: »

easy guys... take it up eith CML... it's not a recovery or green shoots, you'll probably still get your house

Thanks Chucky, but I got my house a long time ago. Price rises or price drops don't make any real difference to me