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Debate House Prices
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Mortgage Approvals Up 2% in April.....
Comments
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863 more approved in a month where a real bounce was meant to take place?
Really?
I'm sure all the bears were proclaiming the market had seized up prior to the election, "as the reality of the coming austerity" kicked in, or some such twaddle.
Even I was expecting approvals to fall slightly, given all the pre-election jitters.
So a 2% rise seems pretty good to me.:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
you fail to understand...
They always do....
The only incontrovertible fact we have is that April's mortgage approvals were enough to raise prices in April.
Approvals were up, and so were prices on all the indices.
End of debate.
(but I expect double points for use of the word incontrovertible):D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Interestingly with the exception of April 09 this is the lowest figure for April on record!Debt Is Slavery.0
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Henry_P_Chester wrote: »Interestingly with the exception of April 09 this is the lowest figure for April on record!
But still over 10% up on the same time last year so it would indicate approvals are increasing not falling at the moment.0 -
Henry_P_Chester wrote: »Interestingly with the exception of April 09 this is the lowest figure for April on record!
Interestingly, prices rose anyway!“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
why did you start this discussion if you didn't want any debate? that's very strange behaviour indeed. not unless you only started it to engage in some cheap pointscoringHAMISH_MCTAVISH wrote: »
End of debate.
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you fail to understand... 49,871 approvals actually means HPI....
Nationwide for April plus 1.0%
Land Registry for April plus 0.2%
Halifax for April minus 0.1%
it means that it only needs 49,871 approvals ion April for house prices to increase for yet another month.
i'm sure i'll be labelled a bull for correcting and stating the facts... :eek:
Your wrong there:
April 2008 mortgage approvals 55762 12% higher than today.
Nationwide HPI April 2008: -1.2%
It doesn't actually 'mean' HPI, approvals are generally consider a rough indicator of future price movements.
Sorce: http://www.bankofengland.co.uk/mfsd/iadb/fromshowcolumns.asp?Travel=NIxSTxTAxSUx&FromSeries=1&ToSeries=50&DAT=RNG&FD=1&FM=Jan&FY=1963&TD=2&TM=Jun&TY=2010&VFD=Y&html.x=16&html.y=18&CSVF=TT&C=10Z&C=112&Filter=N
http://www.nationwide.co.uk/hpi/downloads/Monthly.xlsDebt Is Slavery.0 -
it's not me you have to correct - it's these two that are cluelessHenry_P_Chester wrote: »Your wrong there:
April 2008 mortgage approvals 55762 12% higher than today.
Nationwide HPI April 2008: -1.2%
It doesn't actually 'mean' HPI approvals are generally consider a rough indicator of future price movements.Mortgage approvals for April: 49,871 in April, up from 49,008 in March.
wow I can see why they call it a spring bounce.863 more approved in a month where a real bounce was meant to take place?
i refer you to post 7 which is exactly what i said... where i was the one that corrected them - but you knew this all ready though...
it don't matter 100,000 plus approvals a month can still give you house price drops
49,000 can still give you house price increases as it is doing...
the neutral point of mortgage approvals gives you what HPI should be - that can be anything over 40,000 to 100,000 approvals a month.0 -
The point I was making chucky is that approvals don't actually 'mean' HPI as you said in your post.
Re read your post.
So you are saying regardless if approvals as long as those approval (+ cash buyers) outnumber sellers then you have increasing prices. In that case I apologise.Debt Is Slavery.0 -
which is what i was saying all along if you'd read Post 7.Henry_P_Chester wrote: »The point I was making chucky is that approvals don't actually 'mean' HPI as you said in your post.
the other post was showing that low mortgage approvals can mean HPI as can high volumes of mortgage approvals of 100,000 plus cause price drops.
the neutral number of mortgage approvals is what will indicate HPI...0
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