Halifax May: +1.1% MoM +2.0% YoY

ruggedtoast

Over on hpc.co.uk they have as usual dismissed this as the vested interest release from a discredited organisation, although the general level of apathy would suggest that they are weary of the hpc slog.

I suspect a lot of the priced out will eagerly go for help to buy, I probably would if I were them and I would try and get in soon. There are already reports over on the house buying page of builders gouging young buyers who approach them under HTB , and even withdrawing pre-agreed discounts at the last minute.

marathonic

Mr._Pricklepants wrote: »

There's more to affordability than just the price tag, don't you agree?

Agree with this - when a 2k (1.1%) price increase comes about in the same few weeks that the lowest ever 5-year fixed rate mortgage is announced, is the overall affordability reduced much?

Graham_Devon

Mr._Pricklepants wrote: »

There's more to affordability than just the price tag, don't you agree?

What - you mean the amount of debt you can get and the ease of getting yourself into higher debts?

No - I don't really agree. More debt just means higher payments. Doesn't mean it's more affordable.

Affordability is affordability. The price of something going up 2k reduces affordability.

There is no argument to be had here, other than debt junky nonsense.

marathonic

ruggedtoast wrote: »

Over on hpc.co.uk they have as usual dismissed this as the vested interest release from a discredited organisation, although the general level of apathy would suggest that they are weary of the hpc slog.

It's funny how it was required reading in 2008 when falls were being reported but its release is a non-event now that they're rising.... similar to how monthly updates of certain red signatures on MSE aren't being replaced with green signatures now that prices have been rising.

Mr._Pricklepants

Graham_Devon wrote: »

What - you mean the amount of debt you can get and the ease of getting yourself into higher debts?

No - I don't really agree.

Affordability is affordability. The price of something going up 2k reduced affordability.

There is no argument to be had here, other than debt junky nonsense.

No higher debts at all Graham.

Let's assume this average 160K house and a FTB with 10% deposit, 5 year fix.

This time last year, this FTB would have been clobbered with a rate close to 6%
One year further, house price increased 2% to 163K, but FTB can get rates around 4.5% on the same LTV.

Therefore, less debt.

System

Graham_Devon wrote: »

Not this month it isn't.

The price of the average house has gone up 2k, therefore affordability is worse. That's just common sense. A graph doesn't graph common sense.

Just to confirm, you are saying that affordability is NOT better than just about any time in history bar a few years at the absolute trough in the 90's, because this month the price went up 2k?

chucknorris

Carl31 wrote: »

Why is this good news again?

It is good news for me because it is another small step towards recovery and also my net worth has marginally increased. I don't tend to boo my investments, not that I constantly cheer them either, but it is nice to see them move in the right direction.

Graham_Devon

Joeskeppi wrote: »

Just to confirm, you are saying that affordability is NOT better than just about any time in history bar a few years at the absolute trough in the 90's, because this month the price went up 2k?

No. Not better than last month.

System

Graham_Devon wrote: »

No. Not better than last month.

No one said it was.

Graham_Devon

Joeskeppi wrote: »

No one said it was.

No, and all I said was "not this month it isn't".

Read what I say. Don't try and muddle the situation.