Latest Housing Stats.....

ruggedtoast

chucky wrote: »

these were quite interesting -

this where probably where the likes of Devon get's confused on his average salary for an average house price is not affordable rants


so people are actually earning enough to get around 3 times income to buy a house :rolleyes:


so affordability is ok and deposits have increased

I want a cheap 'ouse! I've got me sky tv, a new Nissan and an iPhone to pay for in the New Year.

Speaking of Graham - he's been very quiet lately - did he get detention?

Really2

nembot wrote: »

Declared income and actual income, aren't always the same thing Chuckster

Can you still get self certs then?

Do all people buy on one?

michaels

I think the bulls are having it both ways - the economy is weak so rates won't rise; the economy is strong so unemployment won't rise - surely you have to chose one or the other?

With stronger growth elsewhere than the UK (I hope this is a fact that most can agree on) the price of tradeables is likely to increase and sterling may well weaken further as interest rates in those countries that are growing faster than the UK are normalised more quickly - the BoE is mandated to target the cpi so can not ignore imported inflation and is thus likely to be forced to tighten even if the domestic economy remains weak.

Remember given that affordability has not been a problem and it seems availability of credit is not a real constraint either it would seem that it is price expectations that are the main driver of the property market and that these can change very quickly as was seen when boom turned to bust at the end of 2007. The next govt will be giving a very sombre message about belt tightening, possibly accompanied by increasing interest rates (as per my previous post), potentially enough to turn expectations again.

Really2

ruggedtoast wrote: »

I
Speaking of Graham - he's been very quiet lately - did he get detention?

Apparently he is going to be a dad.

At least he got one thing the right way round for once.

(joke graham if you are there, we love you really, well OK we put up with you)

PasturesNew

HAMISH_MCTAVISH wrote: »

• The average declared income for first time buyers buying a property with a mortgage in the UK in 2008 was £41,000. This compares with £62,000 for former owner occupiers (Table 5.5);

Without looking, I presume that's household income? Not individuals?

chucky

nembot wrote: »

Declared income and actual income, aren't always the same thing Chuckster

typical ghetto HPC sound bite... which lenders don't check income now or which lender does self-certs now? :rolleyes:

Really2

michaels wrote: »

I think the bulls are having it both ways - the economy is weak so rates won't rise; the economy is strong so unemployment won't rise - surely you have to chose one or the other?

Unemployment will rise who said it won't? it may not hit the forecasts on here though.:eek:
BOE Base will reflect/help the economy first and inflation second when we are trying to recover.(that is why you will see inflation go over target in the near future but no rate movement, they then expect it to fall again under target)

BOE forecast a lot of slack in the world economy's meaning inflation could/should be low for years due to slow growth forecasts.

nembot

chucky wrote: »

typical ghetto HPC sound bite... which lenders don't check income now or which lender does self-certs now? :rolleyes:

Do you think people cannot fake payslips?

I never mentioned self certified mortagages, so you can stick you hpc comment up ya proverbial!

chucky

nembot wrote: »

Do you think people cannot fake payslips?

I never mentioned self certified mortagages, so you can stick you hpc comment up ya proverbial!

no idea - but wouldn't you need bank statements to back up the pay slips and a few other bits of referencing information unless your a fast track client :rolleyes:

HPC bot alert, HPC bot alert, HPC bot alert

abaxas

chucky wrote: »

no idea - but wouldn't you need bank statements to back up the pay slips and a few other bits of referencing information unless your a fast track client :rolleyes:

HPC bot alert, HPC bot alert, HPC bot alert

WORP WORP Inside Track bot alert WORP WORP :rotfl: