Nationwide: +1% MoM +10.5% YoY

IveSeenTheLight

abaxas wrote: »

LOL

Didnt you know that supply is currently outstripping demand?

In percentage terms, but what is the base level

Supply was measured as up 15%
Demand was measured as up 7%

However 7% of 300 is more than 15% of 100

It would be interesting to see what the base figures are when considering if supply increased by more than demand.

IveSeenTheLight

abaxas wrote: »

Maybe becasue we dont have sufficent funds for normal market levels?

Presumably there is sufficient funds for current mareket levels meaning there is still competition for property and thus a rise in prices.

If there was no competition becuase funds were insufficient, then this would drive prices lower

Percy1983

LizEstelle wrote: »

So that's, conservatively, 8 years that you '2 young people' have had the opportunity to save, perhaps 9 or 10 since people can leave school at 16.

Run it past me again how it is that you haven't managed to save a deposit on a starter home...?

Perhaps you were agonising over this total mystery at the pub or during your last foreign holiday..?

Some people might suggest that it isn't the 'country' which is going to the dogs, just some of the whingers who inhabit it...

Yes I am open to the fact that if I started saving in my younger days I may be in a better position now, but in both cases we had pitiful wages at first due to being on training etc. That mixed with things like car insurance if a rip off, i paid to write off my first car before I even drove it, 7 years later I still haven't had a accident and they still have my £1800!

I will admit there is an element of enjoying life while young, not to excess but having fun going out at weekends (much like many of you home owners probably did when you was 18-25).

I have had one holiday abroad which cost me £600 approx for the holiday and spending money and had 'free' holidays in my other halfs dads caravan.

To put the arguement simply, if you went for a loaf of bread tommorrow and they asked for £300 for it what would your reaction be? then I turn up and say stop moaning its your fault for having a social life for the last 3 months... would you like that?

As it is we are quite lucky as we have a decent joint salary of about 35k now due to our early years of rubbish pay, but why should we be mortgaged to the hilt for something which previous generations could buy with ease.

So personally we are going to bite the bullet and buy, but how many people my age have worked hard but aren't earning what we are and are froze out?

Thrugelmir

chucky wrote: »

a big assumption that is very, very wrong - similar to you claiming that the sales of BMW's was directly correlated to mortgage equity withdrawl

8,000-10,000 properties are sold each month in London.
lol - these are NOT going to be purchased by wealthy Greeks

i'm surprised that you didn't add that its prostitutes and drug dealers buying all the property to create the illusion

So where is the "big" money coming from to buy at the top end in London? Where prices are still immune to the impact of the recession.

So what was equity withdrawl used for? Other than cars, another house and holidays? Very little appears to have been used to create a business or new venture. If it was the green shoots would be appearing by now.

ess0two

Percy1983 wrote: »

Yes I am open to the fact that if I started saving in my younger days I may be in a better position now, but in both cases we had pitiful wages at first due to being on training etc. That mixed with things like car insurance if a rip off, i paid to write off my first car before I even drove it, 7 years later I still haven't had a accident and they still have my £1800!

I will admit there is an element of enjoying life while young, not to excess but having fun going out at weekends (much like many of you home owners probably did when you was 18-25).

I have had one holiday abroad which cost me £600 approx for the holiday and spending money and had 'free' holidays in my other halfs dads caravan.

To put the arguement simply, if you went for a loaf of bread tommorrow and they asked for £300 for it what would your reaction be? then I turn up and say stop moaning its your fault for having a social life for the last 3 months... would you like that?

As it is we are quite lucky as we have a decent joint salary of about 35k now due to our early years of rubbish pay, but why should we be mortgaged to the hilt for something which previous generations could buy with ease.

So personally we are going to bite the bullet and buy, but how many people my age have worked hard but aren't earning what we are and are froze out?

Unless you buy out right,we've all been thru the 'mortgaged to the hilt' scenario when first buying.
Its never been cheap,even all those years ago.

Turnbull2000

ess0two wrote: »

Unless you buy out right,we've all been thru the 'mortgaged to the hilt' scenario when first buying.
Its never been cheap,even all those years ago.

Except that in the past, the mortgaged to the hilt burden usually lasted a few years or so your salary rose. Today, salary growth is little to zero (and that's before you consider the hefty tax rises on the way) and the burden could be with you for many years to come.

ess0two

Turnbull2000 wrote: »

But in the past, did the 'mortgaged to the hilt' burden last for many, many years as a globalised enomy ensured little to no salary growth?

Dependant on situations,who's to say todays buyers will be burdened for years.
Payrises,promotions,job move for myself made it easier over time,depends what you want to aspire to.

ukcarper

Percy1983 wrote: »

As it is we are quite lucky as we have a decent joint salary of about 35k now due to our early years of rubbish pay, but why should we be mortgaged to the hilt for something which previous generations could buy with ease.

Have you ever been able to buy a house with ease? When I bought in 1972 I needed a 10% deposit and that was because I bought a post war house, pre war houses needed a 20% deposit. I had a mortgage of 3x joint income and no fixed or discount rates in those days. On top of that house prices almost double that year and I was gazumped twice.

Degenerate

abaxas wrote: »

Great news. The quicker get back to state and financial system failure the better.

Despite your wishful thinking, the fact is that recovering asset values improve bank solvency and reduce the need for government support.

Blacklight

ukcarper wrote: »

Have you ever been able to buy a house with ease? When I bought in 1972 I needed a 10% deposit and that was because I bought a post war house, pre war houses needed a 20% deposit. I had a mortgage of 3x joint income and no fixed or discount rates in those days. On top of that house prices almost double that year and I was gazumped twice.

Leave it. It's just typical Gen Y whinging due to the fact they've always had everything handed to them on the plate and now they have to stand on their own two feet and don't like the harsh reality that life is actually quite tough.
Next they'll be telling you how they can't afford to run both BMW X5's because fuel prices are higher than they were thirty years ago.