FTB's lead "market boom".

Graham_Devon

Is the Mirror somehow affiliated with property?

Running a story at the moment, "FTBs to leave market boom".

FIRST-time buyers are rushing to get on the property ladder because they fear prices will rocket.

More people are looking to own their first home than at any time in the past 12 months, property website Rightmove said, with 26% of all house-hunters new to the market. A third of them said they were trying to beat a boom.

Director Miles Shipside said finance remains a problem “but would-be buyers have decided to act”.

That's it. That's the entire story! Never seen such a concise and biased article in my life!! Amused me anyway.

For another take on the very same figures, with more depth: http://www.bloomberg.com/news/2011-05-08/u-k-first-time-homebuyers-call-bottom-of-market-report-says.html

chucky

Graham_Devon wrote: »

For another take on the very same figures, with more depth: http://www.bloomberg.com/news/2011-05-08/u-k-first-time-homebuyers-call-bottom-of-market-report-says.html

i'm surprised people even read the Mirror but i guess that's another story...

that's quite a positive link you've just posted - shame on you!!

Thirty-three percent of people who intend to purchase their first property in the coming 12 months said prices will be higher in a year,

interesting... add together those that believe property will be the same value and that's greater than those that think it will fall.

if sure you'll try and spin that around... but again that's expected and quite desperate...

It “appears to indicate more first-time buyers are calling the bottom of the market,”

so there are more first time buyers buying... interesting...

A significantly higher proportion of them now believe prices are set to increase over the next 12 months and so are perhaps looking to enter the property market in greater numbers before their affordability deteriorates.”

quite positive... maybe not for some people...

Rightmove said that among those planning to purchase a home in the next year, 26 percent are first-time buyers, up 3 percentage points since January.

more FTB's look to buy... and we thought there were none

Separate reports today showed Britons became less pessimistic about their employment prospects in April, while companies’ inflation expectations rose to the highest in almost 2 1/2 years.

good news...

A job-security index by Lloyds Bank Corporate Markets increased 9 points to a 12-month high of minus 18 last month. An employment prospects gauge climbed to a seven-month high, the unit of Lloyds Banking Group Plc (LLOY) said.

wow... even more good news...

A measure of inflation expectations among businesses for the next three months gained to 108.5, the highest level since November 2008, from 106.2 in March, accountancy firm BDO LLP said. A reading of more than 100 indicates companies expect inflation will be above its average trend and exceed the central bank’s 2 percent target.

does that mean that if inflation continues property will be the only asset class that isn't affected by inflation...

An index of estimated business output for the next three months fell to 97.6 from 99.3, BDO said. A reading above 95 signifies expansion.

even more good news...

what a positive story you've just posted

Percy1983

As a potential FTB I currently have no fear of rising prices, I am not expecting any massive falls either but I am not going to rush out and buy tommorrow due to fear.

As it is we do have a plan B, currently we are saving our deposit and will get there soon enough which is plan A, but there is a few family members who are willing to boost our deposit if things do start getting silly again which is of course plan B. Plan B is far from ideal and the temptation is there just to do it anyway and buy sooner, but we have come this far so a little longer and not owing money to family is the best option.

Jimmy_31

Percy1983 wrote: »

As a potential FTB I currently have no fear of rising prices, I am not expecting any massive falls either but I am not going to rush out and buy tommorrow due to fear.

As it is we do have a plan B, currently we are saving our deposit and will get there soon enough which is plan A, but there is a few family members who are willing to boost our deposit if things do start getting silly again which is of course plan B. Plan B is far from ideal and the temptation is there just to do it anyway and buy sooner, but we have come this far so a little longer and not owing money to family is the best option.

Same here I'm just waiting till I've got my emergency fund in place but in theory could buy a house today as I have managed to save a decent deposit over the last few years.

I feel no need at all to rush out and buy a house as prices in my area are still falling, I managed to not get dragged into the PRICED OUT FOREVER scare stories last time round so I certainly won't be falling for any of the spin that's popping up recently. I know a few other people who are patiently waiting to buy but they are the same age as me and chose not to buy during the last boom so feel the same way as I do at the moment.

Sadly some people will still rush in due to being scared of another boom but there's not much anyone can do about it, especially now the government will be giving them a so called helping hand

Percy1983

Interesting things is if enough people fear the boom and rush it could potentially cause the boom they fear.

Loughton_Monkey

Typical media hype. "Rushing". "Rocket".

There is no rush. There is no rocketting. Just the brainlessly obvious. FTB's have (now) to save their substantial deposits. As soon as they start coming on stream, then the FTB market will start to stabilise and move a bit. It's just a small rush to save money as quickly as they can.

chucky

Percy1983 wrote: »

As a potential FTB I currently have no fear of rising prices, I am not expecting any massive falls either but I am not going to rush out and buy tommorrow due to fear.

Jimmy_31 wrote: »

Same here I'm just waiting till I've got my emergency fund in place but in theory could buy a house today

quite right too. it all depends what the local market is like where you live - some areas won't need people to buy now but in other areas they will need to buy as prices could move away from them. it's as simple as that.

Jimmy_31

Percy1983 wrote: »

Interesting things is if enough people fear the boom and rush it could potentially cause the boom they fear.

I have said the same thing before as I know people who bought during the boom because after seeing all the scare stories in the press about being priced out forever they got scared and rushed out to get themselves a new build before they were all snapped up, consequently keeping the boom going.

I think the housing Market would be completely different if the media and banks stopped printing stories and house price averages.

Percy1983

Jimmy_31 wrote: »

I think the housing Market would be completely different if the media and banks stopped printing stories and house price averages.

amen to that.

sleepyj

chucky wrote: »

quite right too. it all depends what the local market is like where you live - some areas won't need people to buy now but in other areas they will need to buy as prices could move away from them. it's as simple as that.

In other words, in other areas, the ship is going to sail, property always goes up, don't miss the boat, you'll never get on the ladder

yada yada

Batchy

This article is interesting... ive been posting this on the forum for the last month or two... no one listens to me!...

You guys have got to stop looking at numbers that are 3-4 months out of date, and look to the future, speak to people ... its all happening out there, people really are beginning to BUY. Activity is the key, prices can be reducing but if there is ACTIVITY, ... it gets a whole lot more interesting.