Halifax May: +1.1% MoM +2.0% YoY

padington

I was told that a third of new buy to let landlords are now the banks themselves, is this true ?

ruggedtoast

chucknorris wrote: »

You seem to think that we can have falling house prices and a healthy economy, it isn't going to happen that way. By the way I am not saying that we actually have a healthy economy (far from it), but surely that's what we all want eventually and with a bit of luck we might be at teh start of one in 3 to 5 years.

You might not be able to have a healthy economy without unaffordable housing but I can assure you that many working younger people would do very well not to have to spend all their money on the mortgage and rent to the generational housing lotto winners.

IveSeenTheLight

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. 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.

Let's suppose there is another 1.1% rise next month.
Would it be more affordable to buy this month as opposed to next month?

Rinoa

ruggedtoast wrote: »

This is bad news for everyone who believes money should be earned by people who can stand on their own two feet, rather than flushed out of a casino economy that ensures that young people lose every throw of the die, and have to pass what they do have onto the boomer generation; already sitting amongst mounds of chips.

This is bad news for anyone who wants some chance for their children to one day own a home, and not to be trapped in modern day serfdom to a bank or some buy to let spiv.

This is bad news for people who think a modest house to live in should be a minimum standard by which our society is judged.

Bad news for people who have a home to live in and might want to trade up, rather than the spivs with their portfolios of stud wall rabbit hutches on a 3% margin.

This is bad news for people who care more about equality, merit, and fairness than division and living in a lottery based on inheritance and chance.

This is bad news, I would think, for most right minded people.

This is bad news for those making 000's of posts over many years claiming that prices will eventually fall.

Mr._Pricklepants

Rinoa wrote: »

This is bad news for those making 000's of posts over many years claiming that prices will eventually fall.

They will fall once the conservatives get in, the olympics are over and stamp duty holiday ends.

Oh wait.

michaels

IveSeenTheLight wrote: »

Let's suppose there is another 1.1% rise next month.
Would it be more affordable to buy this month as opposed to next month?

Um - is the answer it depends what happens to interest rates and average earnings during the month?

IveSeenTheLight

michaels wrote: »

Um - is the answer it depends what happens to interest rates and average earnings during the month?

Yes of course.
I believe it likely this will still be well below the 29 year historical average however.

shortchanged_2

Just to put some context into the argument.

A dip in the number of mortgage approvals at the start of the year suggested that sales activity would not take off, the lender said.

"Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of 2013," said Halifax's housing economist Martin Ellis."

Various surveys have suggested that price rises have been driven by increases in London, with some other areas of the country seeing house price falls.

"Some regions of the UK remain under pressure. The market is still deeply polarised, with the increasing national average masking the huge divergence between London's surging prices and those in the North of England that are stuck in reverse," said Jonathan Hopper, managing director of property search consultants Garrington.

"Despite the improved market, buyers are still looking for value, and committed sellers need to be willing to negotiate on price if they want to secure a quick sale."

Doesn't really look like a recovering market to me. Seems like it's the good old London factor at play again.

Let's face it, apart from London and the Sarf east the rest of the market remains pretty flat.

Basically house price rises alone don't mean an improving market. That would be shown by a significant increase in the level of sales.

Graham_Devon

shortchanged wrote: »

Basically house price rises alone don't mean an improving market. That would be shown by a significant increase in the level of sales.

That;s normally used when the spring bounce doesn't increase prices. It's all about sales then.

It's clearly back to prices on this thread though!

Only last month I was told the spring bounce was about transactions not prices. Now, the spring bounce is working!

harpoboy

HAMISH_MCTAVISH wrote: »

Recovery continues.

:beer:

Thanks for this Hamish

Good to see the stock markets are reaching new highs too.