Telegraph: Lending main obstacle for buyers, causing Brits to "give up"

Graham_Devon

HAMISH_MCTAVISH wrote: »

:eek:

Seriously?

You don't think the average FTB buys a cheaper house than the average house price?

:rotfl::rotfl::rotfl::rotfl:

Oh dear Graham, you've outdone yourself with that one.....

And you accuse me constantly of muddling?

No.

I don't think FTB's, on average, earn more than the median full time male wage of 36k.

ultrawomble

Linton wrote: »

FTBs dont buy median houses, they buy cheaper ones.

I don't know if they buy median houses, but they certainly seem to buy cheaper than average houses - ~£139K in 2010.

Interestingly, in the decade 2000-2010, the average FTB house cost has risen by 102%, whereas the total average house cost has only risen by 89%.

Also, the number of FTBs has decreased markedly over the decade - even before the crash the FTB base of the pyramid was shrinking. I assume that BTL investors were soaking the rest up?



Source: Halifax FTB Review 2010 as a PDF

Linton

Interesting, but what does it mean?

1) FTB houses up 102% but average houses up 89%...
Are FTBs relatively richer now and so can afford better houses? Or are poor FTBs prevented from buying now because of mortgage restrictions? Or perhaps the more expensive houses have risen less than cheap houses relatively bringing down the average?

2) Whar happened in 2003? I dont remember any major catastrophe.

ultrawomble

Linton wrote: »

Interesting, but what does it mean?

1) FTB houses up 102% but average houses up 89%...
Are FTBs relatively richer now and so can afford better houses? Or are poor FTBs prevented from buying now because of mortgage restrictions? Or perhaps the more expensive houses have risen less than cheap houses relatively bringing down the average?

I assume that it will be linked by the willingness to borrow and accept a high LTV as a FTB. I suspect that the only people taking out the 90-125% mortgages will have been FTBs, whereas established buyers moving through the gears will be wanting to reduce their mortgage.

Linton wrote: »

2) Whar happened in 2003? I dont remember any major catastrophe.

Very odd that, but it would seem to coincide with the increase in average house prices above the long term trend.

abaxas

ultrawomble wrote: »

I assume that it will be linked by the willingness to borrow and accept a high LTV as a FTB. I suspect that the only people taking out the 90-125% mortgages will have been FTBs, whereas established buyers moving through the gears will be wanting to reduce their mortgage.



Very odd that, but it would seem to coincide with the increase in average house prices above the long term trend.

The issue with the trend is eventually no-one will ever be able to buy or sell a house again.

ukcarper

abaxas wrote: »

The issue with the trend is eventually no-one will ever be able to buy or sell a house again.

Is that true according to this website http://www.measuringworth.com/ukcompare/

£100 is worth £1150 now using RPI but £2090 using average earnings

HAMISH_MCTAVISH

Graham_Devon wrote: »

And you accuse me constantly of muddling?

No.

I don't think FTB's, on average, earn more than the median full time male wage of 36k.

Oh dear god.....

The MEDIAN wage is around 26K.

The MEAN wage is around 34K

Muddle, muddle, muddle......

I seriously can't take it any more.

He said the median wage, you answered to the mean wage, for the sake of everyones sanity Graham, please, just stop it.

buglawton

So anyone wanting to talk prices up would quote mean, anyone wanting to put a damper would use median. Anyone wish to do the count on the posters here? Perhaps we should go back to good old average.

geneer

wotsthat wrote: »

My name's Geneer and I'm a smileyfaceaholic.

I see Hamish had thanked you for that gem mate.

Funny, but he seems to have missed....

geneer

geneer wrote: »

Is that it Spamish.

:rotfl:Talk about picking and choosing what you respond to.

Sorry Spamish, but you haven't confirmed how repeat sales regression works for the average covering all houses in all areas of the uk.


So anyway, aside from the above:-

1) The LLoyds have said that Lloyds Scottish House Price index has been suffering from statistical skew. :T

2) ESPC stated last year that the "new peaks" were due to statistical skew and would fall out. And they have done. :T

3) ASPC: We know that the over all increase masks a fair old fall in the price of city centre properties. :T

4) Registers of Scotland. Blunt average. We know the Edinburgh prices have reflected the ESPC trends fairly closely.:T
But I'm sure theres no chance of this bring the same elsewhere eh? :rotfl:

Whats that Hamish?
"....."
yeah. Thats what I thought you said. :rotfl: