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You have To Love The BBC and EA - Spring Bounce
Comments
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really??
how many people will this be affecting?
Everyone with a mortgage who wont be able to afford the increased repayments which come with an interest rate rise. Some of them will be forced to sell their properties as a result which will mean more properties for sale. This will create an oversupply in the market which will mean in turn that the prices will go down.
Also first time buyers will find it increasingly difficult as they wont be able to afford mortages at the higher interest rates at the prices asked for so that will be another reason that they will have to fall.
Anyway, who says high prices are a good thing? If we didn't have to spend as much on a mortgage, we would have more capitol to put back into the economy. Anyway, this is only my humble personal opinion which no doubt is wrong.0 -
Round my way it starting to take longer than 2 months to sell some properties which would have been under offer in a couple of weeks last year. As for Easter to an extent I agree but in postcode I'm looking in 4 properties went under offer in Jan, 10 in Feb, 15 in March and so far 2 in April and both the 2 in April fell through in Feb and March so you could argue technically none. This infos using property bee. Seems a bit more than simply the Holiday season.
As for the elections well looks clearly like a hung parliament now so people whho are putting off buying now because of the election are unlikely to buy in a hung parliament.
Look, we had the heavy snow which temporarily depressed the market, and you will see in a couple of weeks that the half tem hol had a similar temporary effect.
Don't go too deep with hung parilament stuff, I've seen so many such arguments about peak oil, dollar head n shoulders movements, ending of the carry trade, swine flu bla bla bla. In then people get on with thier lives - thats all you need to know.0 -
none of us know the exact numbers but i'll give you some indicative numbers.southantrim3 wrote: »Everyone with a mortgage who wont be able to afford the increased repayments which come with an interest rate rise. Some of them will be forced to sell their properties as a result which will mean more properties for sale. This will create an oversupply in the market which will mean in turn that the prices will go down.
Also first time buyers will find it increasingly difficult as they wont be able to afford mortages at the higher interest rates at the prices asked for so that will be another reason that they will have to fall.
Anyway, who says high prices are a good thing? If we didn't have to spend as much on a mortgage, we would have more capitol to put back into the economy. Anyway, this is only my humble personal opinion which no doubt is wrong.
10.5 million mortgages in the UK.
45% approx are on fixed rates.
that would leave you 55% that would be at risk of rates rising. clever people would fix.
those that won't fix are those in negative equity or high LTV's.
only 8% of property was in negative equity last July - much less now.
out of those who can't afford their mortgage payments would be the unemployed or those hit with high rates out of this 8% (which is much less now)
the number affected by rates increasing would be very low...
at a guess 40,000 mortgages0 -
I don't want to be a 'doomster', but when that comes, I think it's safe to say people will notice it. People noticed the effects of the '70s oil crisis didn't they?
Are you saying that people shouldn't buy a home because eventually we will reach peak oil?"I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.0 -
none of us know the exact numbers but i'll give you some indicative numbers.
10.5 million mortgages in the UK.
45% approx are on fixed rates.
that would leave you 55% that would be at risk of rates rising. clever people would fix.
Not if you have BR +0.95% for life
Base rates may yet peak at only 3 - 3.5% in the near to mid term. '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 Thatcher0 -
Look, we had the heavy snow which temporarily depressed the market, and you will see in a couple of weeks that the half tem hol had a similar temporary effect.
Don't go too deep with hung parilament stuff, I've seen so many such arguments about peak oil, dollar head n shoulders movements, ending of the carry trade, swine flu bla bla bla. In then people get on with thier lives - thats all you need to know.
You are living in a typical EA dreamworld, unaware of cyclic events and in denial about the big picture. Nobody cares if you have one client a day with an income of 80k, that's not the norm or even average except for London maybe.
In the rest of the country, prices are still at ridiculous.
The government were aware of this 5 years ago, Mervyn King said this around the same time and you expect us to believe an estate agent who has a massive vested interest in ramping the market.
Give me a break...0 -
Look, we had the heavy snow which temporarily depressed the market, and you will see in a couple of weeks that the half tem hol had a similar temporary effect.
Don't go too deep with hung parilament stuff, I've seen so many such arguments about peak oil, dollar head n shoulders movements, ending of the carry trade, swine flu bla bla bla. In then people get on with thier lives - thats all you need to know.
The snow we saw in Dec-Jan was a once in 20-30 year experience. Easter happens every year and has no more than a 5-10% effect on mortgage approvals. What I'm seeing may not be what most are seeing but for my area I suspect its more than snow/easter/elections etc.
As for the election anyone who is that bothered they are going to wait for the election to buy is not going to buy whilst the Lib Dems and Labour argue about joining together. Its already been suggested Libs wont accept GB as PM so its going to be a few weeks/months before a government is formed.0 -
Nationwide: +1% MoM +10.5% YoY
The BBC and EA 1 - doire 00 -
Blacklight wrote: »Nationwide: +1% MoM +10.5% YoY
The BBC and EA 1 - doire 0
You're a bit thick aren't you?
The jist of my post was to show the BBC trying their best to spin a report.0
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