Halifax: + 6.7% QoQ + 5.7% YoY.....

IveSeenTheLight

Graham_Devon wrote: »

It's most likely the figures which make up the data.

We can't see the figures, so if the Halifax is only lending to wealthier people to avoid risk, you'd likely see higher priced houses in the figures.

Goes hand in hand with with Halifax affordability index showing an easing in affordabilty. If they only lend to the best picks, these are going to be people who again, are wealthier, so therefore, affordability eases, as it's no longer capturing people who are higher risk, and by nature, would show worse affordability in the figures.

Land Registry suggests that the South West, this year (Nov 11 - Nov 12) has fallen -0.4%.

Halifax suggests +4.7%.

Nationwide suugest +0.2%, so Halifax sticks out a fair bit.

Hence why I stated I wonder what the figures are. If it's a simple case of higher priced houses being sold to wealthier people, then the figures will show exactly what they have, rising house prices and easing affordability.

Whilst you would like to think this is true, it's simply not.
The figures are available, even down to the comparison of when the properties were originally built.

The methodology is also available to view and if I can highlight a paragraph, it may put your ascertations to bed

As a result,the technique allows us to track the value of a 'typical' house over time on alike-for-like basis (i.e. with the same characteristics). This preventsthe possibility of short-term changes in the set of properties sold from monthto month (for example, shifts in the regional complexion of the market or achange towards more large properties being sold) giving a misleading impressionof the change in the price of a 'typical' house.

Pobby

homelessskilledworker wrote: »

I have a big close Irish family with a herd of cousins where I am not sure how many I have, they have always worked and we all give or take a few years seemed to buy our first homes around our early 20's.
That also goes for most of my friends as well, and it seemed to go for most of the people I knew, most seemed to have got on the first rung well before 30.

Fast forward to today and out of all the 20 somethings I know it is a rare event to see them buying their own place, I am not making a "is it good or bad" judgement, just making an observation.

Certanly agree with that. In the South East, we were buying in our rarly 2o`s. As were mant others. Oh perish the thought that by the early 80`s, singletons could buy! So movimg on, my niece and her partner cannot buy in that area. Albeit with well paid jobs.

I was thinking from your post concerning Ireland. Until entry into the euro, it always seemed fairly reasonable. Then the madness hit. Dublin in the boom was unbelievable.

Friend of mine from their brought a second home to rent out, Almost from day one he was subsidising the mortgage.

Tbh, it has all gone very wrong.

DervProf

Pobby wrote: »

Certanly agree with that. In the South East, we were buying in our rarly 2o`s. As were mant others. Oh perish the thought that by the early 80`s, singletons could buy! So movimg on, my niece and her partner cannot buy in that area. Albeit with well paid jobs.

I was thinking from your post concerning Ireland. Until entry into the euro, it always seemed fairly reasonable. Then the madness hit. Dublin in the boom was unbelievable.

Friend of mine from their brought a second home to rent out, Almost from day one he was subsidising the mortgage.

Tbh, it has all gone very wrong.

And the answer ?

Lend more ! (says Hamish).

HAMISH_MCTAVISH

DervProf wrote: »

And the answer ?

Lend more ! (says Hamish).

Well your answer is to ration mortgages so that a million people are forced to rent instead of buy.

Which of course makes no sense.

The answer is to build more. But builders won't build what they cant sell, and the mortgage famine has caused building to fall to the lowest levels in a century.

homelessskilledworker

HAMISH_MCTAVISH wrote: »

Well your answer is to ration mortgages so that a million people are forced to rent instead of buy.

Which of course makes no sense.

The answer is to build more. But builders won't build what they cant sell, and the mortgage famine has caused building to fall to the lowest levels in a century.

I bet you thats not his answer, just you AGAIN putting words into other peoples mouths.
I wonder if his answer might be to reduce the BTL market so it is a far less attractive investment, and do the same with 2nd home owners. After all, BTL rental is no way to live for MOST people, 6 month contracts and a list of rules as long as your arm.

And then watch these 20 somethings buy their own little bit of England, and give them something to get up in the morning for.

IveSeenTheLight

homelessskilledworker wrote: »

I bet you thats not his answer, just you AGAIN putting words into other peoples mouths.
I wonder if his answer might be to reduce the BTL market so it is a far less attractive investment, and do the same with 2nd home owners. After all, BTL rental is no way to live for MOST people, 6 month contracts and a list of rules as long as your arm.

And then watch these 20 somethings buy their own little bit of England, and give them something to get up in the morning for.

Oh Dear, not this again.
The BTL market has only partially taken up the gap created by the social housing sell off through the Right To Buy scheme.

The government is RELIANT on Private rentals filling and expanding this gap in order to provide options.

The government could of course change tact and start rebuilding social housing, but where will they get the money to do so?, how will they fund maintenance in the future? How would they pay for the management of said properties.

Likelyhood however is slimmer than me winning the lottery and I don't buy a ticket

gorgeyetsun

homelessskilledworker wrote: »

I have a big close Irish family with a herd of cousins where I am not sure how many I have.

Yes, I guess it is a bit difficult to keep track of your various back stories.

Bane123

So what are the real gains or losses?

Have prices gone up more than real inflation?

homelessskilledworker

IveSeenTheLight wrote: »

Oh Dear, not this again.
The BTL market has only partially taken up the gap created by the social housing sell off through the Right To Buy scheme.

The government is RELIANT on Private rentals filling and expanding this gap in order to provide options.

The government could of course change tact and start rebuilding social housing, but where will they get the money to do so?, how will they fund maintenance in the future? How would they pay for the management of said properties.

Likelyhood however is slimmer than me winning the lottery and I don't buy a ticket

It might well be the case that the BTL/Rental market we have now is here to stay, and thats fine, really!.
I can even see a type of rental system system where it would be better than the old "you must own" mantra that is so ingrained in peoples heads.

But the trouble with what we have now is that it is just not a good way of life with current regulations for most people right now. And to top it all off we have too many landlords that are spivs, criminals, and just immorral money grabbing lowlife.

You just have to flick through some posts on this MSE board to witness landlords gloating over rent rises and the joy of FTB's being trapped.

Most people do not want to be living under the roofs of a clammy handed Rigsby type. which is what many are putting up with now.
But things can change and become political, and if thats not what the people want then thats why we have politicians for, sadly too many of ours are corrupt at the moment.

I look in to the future in 20 years time, and I cannot see a housing system like we have now, rented or ownership I can honsestly see something better.

IveSeenTheLight

homelessskilledworker wrote: »

It might well be the case that the BTL/Rental market we have now is here to stay, and thats fine, really!.
I can even see a type of rental system system where it would be better than the old "you must own" mantra that is so ingrained in peoples heads.

But the trouble with what we have now is that it is just not a good way of life with current regulations for most people right now. And to top it all off we have too many landlords that are spivs, criminals, and just immorral money grabbing lowlife.

You just have to flick through some posts on this MSE board to witness landlords gloating over rent rises and the joy of FTB's being trapped.

Most people do not want to be living under the roofs of a clammy handed Rigsby type. which is what many are putting up with now.
But things can change and become political, and if thats not what the people want then thats why we have politicians for, sadly too many of ours are corrupt at the moment.

I look in to the future in 20 years time, and I cannot see a housing system like we have now, rented or ownership I can honsestly see something better.

In Scotland we are registered and regulated
https://www.landlordregistrationscotland.gov.uk/Pages/Process.aspx?Command=ShowHomePage