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Acadametrics: +0.6% MoM +3.7% YoY
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.acadametrics.co.uk/LSL%20Acad%20E&W%20HPI%20News%20Release%20February%2013.pdf“February’s figures paint a much warmer picture for the housing market. Values have climbed £8,154 in the past twelve months and the 0.6% monthly increase in February is one of the biggest monthly increases seen in the past fifteen months.
“The housing market is beginning to change gears and pick up some momentum. February sales leapt up by 15%: that’s five times the usual seasonal rise thanks to improved mortgage availability and cheaper funding.
The Funding for Lending scheme is allowing lenders to reduce mortgage rates and this has led to a mini-revival in the first time buyer market. High LTV lending is forming a bigger overall share of lending and credit scoring is easing.
“And despite the improvements in the mortgage market, funding conditions are still tight for lenders and they are under extreme pressure to increase the mortgage funding on offer.
“There are hopes the government will announce a new mortgage indemnity scheme to encourage higher loan to value lending in this month’s budget. If funding conditions remain favourable for banks and if rates remain low, there is good reason to believe the housing market will kick on and see a strong spring growth spurt.”
:beer:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »
So, although you complain (many times) of banks not lending, you are happy to see prices rise.
"Ahhh, it's a shame for FTBs, they are forced to rent due to mortgage rationing". Yet we get ":beer:" when prices rise.
So, which is it Hamish, are you really sorry for those who can't get a mortgage, or are tou really wanting HPI ? Or is it a bit of both, you want people to take on more debt and have HPI ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
So, although you complain (many times) of banks not lending, you are happy to see prices rise.
"Ahhh, it's a shame for FTBs, they are forced to rent due to mortgage rationing". Yet we get ":beer:" when prices rise.
So, which is it Hamish, are you really sorry for those who can't get a mortgage, or are tou really wanting HPI ? Or is it a bit of both, you want people to take on more debt and have HPI ?
I thought FTBers were on the increase:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
So, although you complain (many times) of banks not lending,
"High LTV lending is forming a bigger overall share of lending and credit scoring is easing."
:beer:
Excellent news for FTB-s.
Still not nearly enough of course, but a step in the right direction.So, which is it Hamish,
It's not prices stopping people buying, it's mortgage rationing.
Lending must rise if FTB-s are to be able to buy.
Lending must also rise if more houses are to be built.
Don't forget house building in the UK rose every year from 2001 to 2007, and was finally starting to approach the levels required to meet housing need when the mortgage famine kicked in and reversed the trend, sending house building plummeting to 100 year lows.
While rents soared to new record highs instead, yet prices are now just 10% or so below peak, despite the mortgage drought.
Proving once and for all you cannot fix a housing shortage with credit rationing.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Blimey, 3.7%
Looks like the days of 'noise' are truly behind us now.0 -
Mr._Pricklepants wrote: »Blimey, 3.7%
Looks like the days of 'noise' are truly behind us now.
Yep.
That's a rise in "real terms" as well. (not that it's of any relevance, but some bears sure are fixated on that)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Also of interest....
Acadametrics use an "average sold" price, which is far closer in methodology to Rightmove's "average asking price" than the standardised "typical" price Halifax and Nationwide use.
This shows average sold prices at £229,544, versus average asking prices on Rightmove of £235,741.
I'm sure Brit, amongst others, will be delighted to learn that the concept of a "delusion index" with a big gap between asking and selling prices is therefore complete nonsense.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
More good news for the homeowner, I bet the hpc chain gang are up in arms - no hpc here jack ladder UP0
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Good to see the price rises gathering momentum.
If Osborne introduces more measures for first-time buyers and state back mortgages, we could see a mini price rally this summer.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Turnbull2000 wrote: »Good to see the price rises gathering momentum.
If Osborne introduces more measures for first-time buyers and state back mortgages, we could see me moving out of my sister's spare room this summer.
:beer: .....................0 -
HAMISH_MCTAVISH wrote: »Also of interest....
Acadametrics use an "average sold" price, which is far closer in methodology to Rightmove's "average asking price" than the standardised "typical" price Halifax and Nationwide use.
This shows average sold prices at £229,544, versus average asking prices on Rightmove of £235,741.
I'm sure Brit, amongst others, will be delighted to learn that the concept of a "delusion index" with a big gap between asking and selling prices is therefore complete nonsense.
So small houses outside the honey pots aren't selling?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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