Debate House Prices
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Mortgage approvals hit a new low
Comments
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Since when have mortgage approvals been transactions? I have said that the spring bounce is reffered to as when transactions increase (from winter) they usually drop late Autum and the winter.
The figures are poor but are kind of reflecting the stagnation we are seeing across the market. Also you can't argue against the fact of over 5% of productivity being lost due to an extra days holiday.
If they go up next month how many on here will say it was because of the ones they never processed on what would have been the last working day of April?
You are not seriously going to be pedantic enough to suggest mortgage approvals don't have any relation to transaction figures?
9% down on last April. One working day does not explain that.0 -
Graham_Devon wrote: »You are not seriously going to be pedantic enough to suggest mortgage approvals don't have any relation to transaction figures?
9% down on last April. One working day does not explain that.
Which would you rather rely upon if you wanted to know in which direction house prices were going, Land Registry which shows what houses sold for or mortgage approvals which showed how many mortgages were approved?0 -
Graham_Devon wrote: »You are not seriously going to be pedantic enough to suggest mortgage approvals don't have any relation to transaction figures?
9% down on last April. One working day does not explain that.
I am saying mortgage approvals in April are unlikely to be related to transactions in spring.
You quoted me on what I say about the "spring bounce" so the pedant is not me.
It is fairly obvious a mortgage approved in April is not going to be relating to a April transaction.
April approvals are more likely to be for June/July transactions (British summer time).
Perhaps it was foolish to bring out my name and the term "spring bounce" for this one? It takes a reasonable amount of time from approval to any transaction going through.
So your attempt to score a point by dragging my view of the term "spring bounce" is a bit of a fail in regards to these figures.0 -
I am saying mortgage approvals in April are unlikely to be related to transactions in spring.
You quoted me on what I say about the "spring bounce" so the pedant is not me.
It is fairly obvious a mortgage approved in April is not going to be relating to a April transaction.
April approvals are more likely to be for June/July transactions (British summer time).
Perhaps it was foolish to bring out my name and the term "spring bounce" for this one? It takes a reasonable amount of time from approval to any transaction going through.
So your attempt to score a point by dragging my view of the term "spring bounce" is a bit of a fail in regards to these figures.
You realise transactions are falling too in the spring bounce?Estate agents will have to chop the prices of properties on their books in order to stay in business, Hometrack has said, after the number of transactions slowed down in May.Like Hometrack, the Land Registry also drew attention to a slump in transaction levels.
Although the Land Registry’s data only goes to the end of February, it said that sales between November and February averaged 46,818 a month, down from an average of 54,479 a month for the same period a year earlier.
Whether thats on mortgage approval levels. House price levels. Or, really's new "spring bounce descriptive", transaction levels.
Personally I'm still loving the fact that you are insistent that the spring bounce has always refered to transaction levels, not prices0 -
Graham_Devon wrote: »You realise transactions are falling too in the spring bounce?
So back to my original point. Some spring bounce this has turned out to be.
Whether thats on mortgage approval levels. House price levels. Or, really's new "spring bounce descriptive", transaction levels.
Personally I'm still loving the fact that you are insistent that the spring bounce has always refered to transaction levels, not prices
!!!!!! are you going on about. I never use the term spring bounce.
I have always said that it refers to the time when transactions usually increase from winter.
If that has not happened it is not my fault or a term of phrase I use (but I have a family member who is an EA and that is how he has reported it to me in the past)
So are you saying sales volumes have not increased from winter this year as you seem to be confusing yourself (again) comparing it to the same period last year?0 -
Graham_Devon wrote: »Personally I'm still loving the fact that you are insistent that the spring bounce has always refered to transaction levels, not prices
If there was a spring bounce relating to prices you would never see it as it would be taken out as a seasonal adjustment.
Not that you are too thick to understand that would be a seasonal trend?
So Graham even though I never use the term "Spring Bounce" are you categorically stating house prices go up in value based on the fact the days get longer?
You seem to be the person who goes on about a spring bounce all the time explain what it is to us all? it is pretty much only you who uses the term.0 -
If there was a spring bounce relating to prices you would never see it as it would be taken out as a seasonal adjustment.
Not that you are too thick to understand that would be a seasonal trend?
So Graham even though I never use the term "Spring Bounce" are you categorically stating house prices go up in value based on the fact the days get longer?
You seem to be the person who goes on about a spring bounce all the time explain what it is to us all? it is pretty much only you who uses the term.
!!!!!!? Where on earth has that come from?
Damn, you are trying hard
Try Hamish. See if he agrees with you on a Spring Bounce. He's the one that loves the phrase. I'm just taking the pee as the glorious even that happens "each and every year" didn't happen....reagrdless of which way you try to explain what a spring bounce is and call me thick in the process.0 -
On a positive note though, credit card lending and payday loans are on the up.
I just had to laugh watching some bloke on the news making this out to be a positive thing.0 -
Google spring bounce and see how the term is defined. Seems like everyone talks about it as a turn around of volumes from winter. (still loving the fact I think that is what is refered to as a spring bounce)
If you are saying I am wrong, you must be saying the other option is right (prices increase)
In the future leave me out of it, I know I am write on the term "spring bounce" and what it refers to.
Alternatively put us out of our misery and state the correct devonian meaning.
I lone the fact you try scoring points and then squirm around like an octopus in a empty bucket when you look a fool again.0 -
Graham_Devon wrote: »I'm just taking the pee as the glorious even that happens "each and every year" didn't happen....reagrdless of which way you try to explain what a spring bounce is and call me thick in the process.
Are you sure transactions don't rise from winter every year.
It is not up to me to call you thick that is for you and the board to decide.:D
I will wait for theGraham_Devon wrote: »"Really2 you are right, transactions nearly always increase in the spring, leading to the term spring bounce."
Will I see it after being scoffed at..............................................0
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