Debate House Prices


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MSE news: Nationwide reports largest house price rise for over two years

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  • baileysbattlebus
    baileysbattlebus Posts: 1,443 Forumite
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    Bloo_Loo wrote: »
    I cant rememebr the figures, but BoE figures for the previous month showed the average approval was UP and that FTBs made up only a small part of the total.

    historically, they are 50% of the market...they have to be otherwise there is no floor.

    BTL took over but they have to pay through the nose these days.

    rents round here are lower than mortgages by a long chalk FYI ( Essex)

    FTB's haven't been 50% of the market since 1995 or so, they are, as at the end of 2008 about 35% of the market and were even lower than that in 2003/4 at about 25% or there abouts.

    The figures are only updated on this website once a year. So the next set won't be out for a while yet.

    http://www.communities.gov.uk/documents/housing/xls/141380.xls

    The info is supplied by CML.
  • Really2
    Really2 Posts: 12,397 Forumite
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    baileysbattlebus wrote: »
    FTB's haven't been 50% of the market since 1995 or so, they are, as at the end of 2008 about 35% of the market and were even lower than that in 2003/4 at about 25% or there abouts.

    The figures are only updated on this website once a year. So the next set won't be out for a while yet.

    http://www.communities.gov.uk/documents/housing/xls/141380.xls

    The info is supplied by CML.
    Thanks

    They are currently 38% according to this.

    http://www.express.co.uk/posts/view/120021/First-time-buyers-help-push-up-mortgage-lending-by-23-
    This is compared with 36,500 mortgages taken out in May.
    Of these, the biggest rise was in the number of first-time buyers with 17,200 mortgages taken out by people buying their first home – a rise of 26 per cent on May.

    Another HPC myth quashed. Next :)
  • Pete111
    Pete111 Posts: 5,333 Forumite
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    1.6%?! Wow.

    Beginning to think I was too conservative in locking in on a 4 year fixed rate on the flat I rent out - at this rate I'll be able to sell it for 07 prices by Spring 2010!!

    Realistically thats not going to happen of course but still...good news! (for me)

    P
    Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger
  • themanbearpig
    themanbearpig Posts: 481 Forumite
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    Wow 1.6% is a huge increase in a month. Can't say Im happy, but Ive accepted the crash was over months ago when the downward trend changed course.

    This recession has set a new precedent, and it seems no pass recessions can be used to predict this one. Im still not sure about the medium to long term outlook, but things can only improve comming up to the elections.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    I take the risk of being wrong in hindsight, but I am still not rushing out to buy a house.

    I still believe there's no benefit to rushing off and buying.

    Only time will tell if I am completely wrong and I am about to muck up the rest of my life :)
  • StevieJ
    StevieJ Posts: 20,174 Forumite
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    Jonbvn wrote: »
    However, no UK savers lost any money in Icelandic banks?

    Furthermore, we're doing very nicely with some of the fixed rate accounts they offered at 7%+;)

    By the grace of God and Brownie icon7.gif certainly not foresight.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Bloo_Loo
    Bloo_Loo Posts: 135 Forumite
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    Really2 wrote: »
    Thanks

    They are currently 38% according to this.

    http://www.express.co.uk/posts/view/120021/First-time-buyers-help-push-up-mortgage-lending-by-23-



    Another HPC myth quashed. Next :)
    its not a myth...maybe you need to consider the government help for FTBs in its various Homebuy schemes...some have now RUN OUT OF MONEY, meaning there was good take up...other schemes for newbuilds are still out there.

    one has to consider what the market would have been like without these schemes.

    Its all going on your tax bill by the way.
  • Really2
    Really2 Posts: 12,397 Forumite
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    PasturesNew wrote: »
    Only time will tell if I am completely wrong and I am about to muck up the rest of my life :)

    I think you are right to wait like you have said, job first (which could be anyware) then house.
  • chucky
    chucky Posts: 15,170 Forumite
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    Bloo_Loo wrote: »
    its not a myth...maybe you need to consider the government help for FTBs in its various Homebuy schemes...some have now RUN OUT OF MONEY, meaning there was good take up...other schemes for newbuilds are still out there.

    one has to consider what the market would have been like without these schemes.

    Its all going on your tax bill by the way.

    affordability is very near the long term average... and even lower in some areas...
  • Really2
    Really2 Posts: 12,397 Forumite
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    Bloo_Loo wrote: »
    Its all going on your tax bill by the way.

    I hope not. I am going to make sure it goes on everyone else's also :)
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