Mortgage approvals 'halved in January'

mystic_trev

http://news.bbc.co.uk/1/hi/business/8563243.stm

Must be all that snow :rotfl:

Really2

mystic_trev wrote: »

http://news.bbc.co.uk/1/hi/business/8563243.stm

Must be all that snow :rotfl:

mmm but december was un-seasonally high I wonder why?

Lets wait until we get past this rush to "buy before stamp duty holiday" before we get the bunting out.

One months figures must be back in fashion again.:)

If it is still happening March/April it could be interesting. But we already know the first 1/4 of this year was not going to be that normal as people brought forward purchases to the end of last year.

lemonjelly

Really2 wrote: »

mmm but december was un-seasonally high I wonder why?

Lets wait until we get past this rush to "buy before stamp duty holiday" before we get the bunting out.

One months figures must be back in fashion again.:)

If it is still happening March/April it could be interesting. But we already know the first 1/4 of this year was not going to be that normal as people brought forward purchases to the end of last year.

Can't see anything to disagree with here.

Close the thread please!:D

Really2

But just been told it is a bit slow this month.

markharding557

Perhaps the market is likely to stagnate rather than crash

Thrugelmir

markharding557 wrote: »

Perhaps the market is likely to stagnate rather than crash

Stabilise and normality spring to mind..........

phil_b_2

markharding557 wrote: »

Perhaps the market is likely to stagnate rather than crash

Property is too desired and sellers are too stubborn for a property 'crash' to happen, it just wont. Stagnation or a small long-term decline until stagnation maybe...

LoopyLuna_2

Im looking at houses and no decent ones are coming on the market and its been like this for about 4 months in my area and still same places (usually with something wrong with them) keep cropping up.=[

Mr.Brown_4

2 plus 2 is 4.

But if you take a distortion of one months figures, and seasonally adjust, plus add a sprinkling of !!!!!!!!, and economic waffle to taste - you can explain everything away. "Huge bubble" - not on planet CML that's for sure.

Amazing really, anyone with half a clue knows we are in bubble territory, yet the 'experts' manage to cloud the issues month in / month out.

Should be a law against it.

Graham_Devon

Really2 wrote: »

mmm but december was un-seasonally high I wonder why?

Stimulus, in terms of changed practices regarding stamp duty to bolster up prices.

It's just a shame this was never acknowledged by some when prices were rising. The only thing you could get from a select few was "supply demand, supply demand".

Now they fall, we get an acknowledgment towards the fact that stimulus was helping keep prices and transactions up.

Lets wait until we get past this rush to "buy before stamp duty holiday" before we get the bunting out.

Why? The bunting has been out in a signature for a while now, with no regard paid to what the rest of us are now supposed to take into consideration.

One months figures must be back in fashion again.:)

If it is still happening March/April it could be interesting. But we already know the first 1/4 of this year was not going to be that normal as people brought forward purchases to the end of last year.

I agree with what you say.

I just find it amusing that it's taken so long for an acknowledgment to these schemes helping the housing market.

I have been banging on about stimulus for ages. Others have too, such as AD. Just find it amusing that it's only now, when the more optimistic need something to blame for price and transaction falls, that the elephant in the room will now be looked at.

Now, I ask the optimistic among us....if paying £2000 extra for a house has had this type of effect on transaction levels, and partly caused prices to fall.....what on earth will an interest rate rise do!?

Overall though, good post

zappahey

Graham_Devon wrote: »

Stimulus, in terms of changed practices regarding stamp duty to bolster up prices.

It's just a shame this was never acknowledged by some when prices were rising. The only thing you could get from a select few was "supply demand, supply demand".

Now they fall, we get an acknowledgment towards the fact that stimulus was helping keep prices and transactions up.

I'm not quite sure what you're arguing here. It's all about supply and demand and, unsurprisingly, the stimulus stimulated demand.