House sales and lending pick up

MrRee_2

The UK property market is seeing a pick-up in activity, latest figures indicate.

The Department for Communities and Local Government (DCLG) said house prices across the UK rose on average by 0.7% in January, to leave them just 0.2% up on a year ago.

Mortgage lenders granted 22% more home loans in January than a year ago.

Sales edged up slightly in February, according to the Royal Institution of Chartered Surveyors (Rics).

Anecdotal evidence suggests that a few more first-timers have been buying ahead of the reintroduction of 1% stamp duty on 24 March for homes under £250,000.

As a result, Rics members said that average sales per estate agency branch rose from 15.7 to 16 last month.

Rics added that its members were no longer expecting prices to fall further.

"This is the first time since May 2010 that respondents have not been predicting further price declines," Rics spokesman Alan Collett said.

"Given the recent upturn in interest from first-time buyers looking to beat the stamp duty exemption deadline, it would appear that surveyors are slowly becoming less pessimistic over prices."

The fat lady is singing .... it's all over .... no more doom and gloom - it's UP, UP, UP and UP!!

REJOICE!!!

CRASH_BANG_WALLOP

https://forums.moneysavingexpert.com/discussion/3848021

already posted mr spammer

Jimmy_31

MrRee wrote: »

The UK property market is seeing a pick-up in activity, latest figures indicate.

The Department for Communities and Local Government (DCLG) said house prices across the UK rose on average by 0.7% in January, to leave them just 0.2% up on a year ago.

Mortgage lenders granted 22% more home loans in January than a year ago.

Sales edged up slightly in February, according to the Royal Institution of Chartered Surveyors (Rics).

Anecdotal evidence suggests that a few more first-timers have been buying ahead of the reintroduction of 1% stamp duty on 24 March for homes under £250,000.

As a result, Rics members said that average sales per estate agency branch rose from 15.7 to 16 last month.

Rics added that its members were no longer expecting prices to fall further.

"This is the first time since May 2010 that respondents have not been predicting further price declines," Rics spokesman Alan Collett said.

"Given the recent upturn in interest from first-time buyers looking to beat the stamp duty exemption deadline, it would appear that surveyors are slowly becoming less pessimistic over prices."

The fat lady is singing .... it's all over .... no more doom and gloom - it's UP, UP, UP and UP!!

REJOICE!!!

Heres another bit of anecdotal evidence for you.

Nothing is selling around here.

Sales will not pick up around here till the construction industry picks up in a big way.

Cant pay a mortgage with no job.

MrRee_2

Everything selling here in the South, plenty of jobs, loads of money!!

MiserlyMartin

MrRee wrote: »

Everything selling here in the South, plenty of jobs, loads of money!!

Whatever. You have to be joking.

People will need to reduce the asking prices by 1% to compensate for the stamp duty re-introduction which is extra cost for buyers.

MrRee_2

People are increasing prices by 5% a month here ..... that 1% is completely lost in the noise of tills ringing.

Mr._Pricklepants

Jimmy_31 wrote: »

Heres another bit of anecdotal evidence for you.

Nothing is selling around here.

Of course.
For the simple reason nobody wants to live round your way Jimmy.

MrRee_2

There is a North/South divide ..... it has been there, in some form, for 60 years that I know of.

All I can say is, here along the sunny South Coast, property is as hot as it ever was in any boom!

Jimmy_31

Mr._Pricklepants wrote: »

Of course.
For the simple reason nobody wants to live round your way Jimmy.

Funny that because quite a large number of people moved into my area during the boom.

All the new build estates around here are now full of people in negative equity.

Desperation makes people do silly things.