Number of FTBs increases.

DervProf

http://www.bbc.co.uk/news/business-17011740

Suprised this hasn't been posted yet. It has now.

A rise in the number of FTBs is to be welcomed, especially if it hasn't been encouraged by "loose lending".

CRASH_BANG_WALLOP

The CML said first-timers might be trying to buy before the end of their 1% stamp duty holiday in March.

Overall, the number of mortgages for home buyers fell 6% in 2011 to 509,500

David Whittaker, of mortgage brokers Mortgages For Business, said: "There is a very real danger that the end of the first-time buyer stamp duty holiday will mark the beginning of a new slump at the bottom of the housing market as a rush to complete transactions before the deadline is followed by an activity vacuum."

and to top it all off mr ree i thought everything was selling dude?

The UK property market was very subdued last year, with completed sales falling by 1% to 869,000, their second-lowest since modern records began in 1978.

Sibley

This is it. Hang on to your hats.

CRASH_BANG_WALLOP

Sibley wrote: »

This is it. Hang on to your hats.

dude i dont think you can read very well

Conrad

As I've been saying, there's a meaningful shift in sentiment underway, as the economy is slowly turning the corner (even if employment lags). We're in the early phase of the next era of prosperity.

DervProf

Conrad wrote: »

We're in the early phase of the next era of prosperity.

Quite likely, but how long before that era is reached ?

I think it's too early to know if this rise in FTBs is really a sign of "green shoots", or if we'll be stil in the same situation in 12 months time.

Conrad

DervProf wrote: »

Quite likely, but how long before that era is reached ?

I think it's too early to know if this rise in FTBs is really a sign of "green shoots", or if we'll be stil in the same situation in 12 months time.

Green shoots are up, I expect a marked and generaly agreed shift in sentiment to the poisitive by this summer.

It's largely down to the dozens of measures put in place to underpin economic rebalancing and also the fact we are part of a big old world much of which is growing very well. This point seems lost on many economists.

Conrad

Derv I noticed your sig - the bit about not really caring about what your equity is in 30 years. Thing I have found is that people do derive considerable comfort from building equity, a sort of psychological firewall. For example if all else fails in life, having £200,000 to move to rural France or Pategonia with, is far better than nothing. I also find older folk like having this sum in case they need treatments and so on, which they might fund from equity release.

RenovationMan

Conrad wrote: »

Green shoots are up, I expect a marked and generaly agreed shift in sentiment to the poisitive by this summer.

It's largely down to the dozens of measures put in place to underpin economic rebalancing and also the fact we are part of a big old world much of which is growing very well. This point seems lost on many economists.

A lot of people have either been paying down debt or building up their savings as a buffer against recession or both. Once the fear of jobloss receeds then people will loosen their pursestrings and allow their finances to go back to normal, releasing a large amount of money into the economy.

Many people have been quietly strengthening their finances and will exit the recession/credit crunch much better off financially than when they entered it. I'm one of them.

Mr._Pricklepants

POSITIVE_EQUITY wrote: »

The FTB floodgates are slowly being opened. With this in mind and rates at historic lows NOW is the time for action if you have that cash deposit ready.

Absolutely!

There is so much pent up demand from the FTB's. Combine that with some loosening in LTV criteria we've seen recently, plus some of the cheapest mortage deals available ever, the only way is up. :T

The end of the stamp duty on FTB is a non-story.
Sure, you will want to save a grand or two if you can, but nobody rushes through or holds off a house purchase for stamp duty reasons. You buy when you see the place that's right for you at the right price.

crash_bang_muppet, man, you're getting tedious, dude.
When your mam gives you a chunky kitkat, you probably moan about how it will be gone after you eat it

Conrad

RenovationMan wrote: »

A lot of people have either been paying down debt or building up their savings as a buffer against recession or both. Once the fear of jobloss receeds then people will loosen their pursestrings and allow their finances to go back to normal, releasing a large amount of money into the economy.

Many people have been quietly strengthening their finances and will exit the recession/credit crunch much better off financially than when they entered it. I'm one of them.

I agree with all this and would add that British business is also leaner and meaner and ready to exploit the upswing.

The key fundamental underpinning the new prosperity is the fact blighty is getting back to it's trading roots, and becomming less dependant on Government inflating itself to give an illusion of prosperity.

Now all we need is than long promised red tape bonfire........:rotfl: