Nationwide: +1% MoM +10.5% YoY

chucky

abaxas wrote: »

Well if house prices can go up on higher supply levels.

Maybe rents can go down on constricted supply!

I think no-one knows.

that's the whole point of asking that question

the housing market is too complex to predict short term

one thing that i can guarantee you though is that in 2/5/10 years the price of an average house will be higher in nominal terms than today...

DaddyBear

doire wrote: »

And with FTB the foundation of the housing market what affect will that have?

Sadly this is no longer the case in the UK. FTBers have not been the foundation since around 2006. Just looking anecdotally at our village, there have been five 2-3 bed houses sold in out little corner in the last 5 years.
1. BTL
2. Holiday let.
3. Second Home.
4. Second Home.
5. Downsizers

The FTBers that do manage to buy are usually bankrolled by BOMAD. The current housing market is bizarre in that it is being propped up by the people at the top.

System

rrrrrrreeeebmiT

DaddyBear

HAMISH_MCTAVISH wrote: »

three month rate of
inflation edged down further from 1.5% in March to
1.1% in April

:rotfl::rotfl::rotfl::rotfl::rotfl:
Seriously Hamish, you need to find something else in your life.

I waded through your bile and picked out the most relevant bit.

Gorgeous_George

This is...

...the mother of dead cat bounces.

BOIIINGGGG!
(***pops over to HPC to see how happy thay are - there was risk that prices could reach zero and that would have threatened their website***)

GG

Thrugelmir

Generali wrote: »

It can't be otherwise house prices wouldn't be rising.

Weak pound is attracting buyers from abroad to London. Some considerable interest from wealthy Greeks it seems.

Blacklight

DaddyBear wrote: »

The FTBers that do manage to buy are usually bankrolled by BOMAD. The current housing market is bizarre in that it is being propped up by the people at the top.

*sigh*

Once more then, just in case it manages to go in this time:

Couple A earn £30k combined. £30k x 3.5 = £105k + £15k deposit = £120k property! (payments of approx 1/3 of nett income on 25yr repayment at 7%).

£120k will get you a nice three bed terrace in Manchester (as an example).

I think your view is clouded by those first time buyers posting on HPC that want a palace as a first home instead of starting on the first rung of the ladder.

There really isn't a property price problem for first time buyers and I think if you actually told your average FTB who doesn't read gibberish posted on the internet by tin-foil-hat-wearing-loonies they'd wonder what the hell you were talking about.

Thrugelmir

DaddyBear wrote: »

The FTBers that do manage to buy are usually bankrolled by BOMAD. The current housing market is bizarre in that it is being propped up by the people at the top.

Every day the hole in the ground gets closer.........

Top-heavy housing ladder threatens to topple over

How different the other end of the market looks. Figures by GfK financial research show (mortgaged) first-time buyers hitting their lowest level in 20 years in the 12 months to February. Lenders made less than half the number of loans available to first-time borrowers than they did during 2004/2005. Lending restrictions continue to mean that borrowing without a sizeable deposit is almost impossible; and the most competitive rates are saved for those with the most favourable loan-to-value ratio. Meanwhile, salaries are, at best, static, and the country’s in a waiting game for a new Government to arrive, pull out the scythe and start attacking public sector employment. It’s hard to see how things can improve, in the short term, for the first-time buyer market in some areas of the north.
The received wisdom is that the first-time buyer sector is the engine that drives the entire market; that people spend their lives trading up a ladder, replaced by new blood at the bottom, until they get as high as they’re going to get, tire, and fall off… either into a nursing home or a big hole in the ground. Without the first-time buyer generation, there’s no-one to take the lower rungs, no-one to hold the ladder steady. The apparent recovery in the property market seems – at least in the short term – to suggest otherwise.
The question is, how long can an influx of new money compensate for the poor circulation of old?

http://www.citywire.co.uk/personal/-/comment/property-and-mortgages/content.aspx?ID=396573

Doctor_Gloom

This is a comical thread. Interest rates at zero, 200 billion pounds of monopoly money printed, forced lending and liquidity, low volumes. All this and house prices only nominally go up 10%. In a YEAR.
When reality hits home (and UK debt of £1,300,000,000,000) soon there's going to be absolute carnage. And alot of you know it in spite of your misplaced glee.

sarkin1

Blacklight wrote: »

*sigh*

Once more then, just in case it manages to go in this time:

Couple A earn £30k combined. £30k x 3.5 = £105k + £15k deposit = £120k property! (payments of approx 1/3 of nett income on 25yr repayment at 7%).

£120k will get you a nice three bed terrace in Manchester (as an example).

I think your view is clouded by those first time buyers posting on HPC that want a palace as a first home instead of starting on the first rung of the ladder.

There really isn't a property price problem for first time buyers and I think if you actually told your average FTB who doesn't read gibberish posted on the internet by tin-foil-hat-wearing-loonies they'd wonder what the hell you were talking about.

On the south coast where I live, you can only get 1 bed flats for your scenario. Can you tell me what happens if they decide to have kids.