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Debate House Prices


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House prices +9.9% in last 12 months

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Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Pimperne1 wrote: »
    That is a big jump. Are there any more detailed figures available for the capital city - I have a friend who is very interested in them?

    LOL....

    Naughty boy. :D
    “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”
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
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    edited 30 October 2013 at 11:52PM
    thescouselander wrote: »
    Still waiting to see evidence of this "mortgage rationing". And I don't mean some article off the BBC from years ago - I mean proper evidence. The fact is there was never mortgage rationing in the first place.

    I think our resident bear in chief asked you recently if you'd been asleep for the last 6 years?

    When even the uber-bears accept there has been a severe reduction in mortgage lending, and the CML described lending post crunch as "dysfunctional", and every major media outlet accepted it, don't you think it's time to give in and face reality?
    “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”
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    thescouselander wrote: »
    Still waiting to see evidence of this "mortgage rationing". And I don't mean some article off the BBC from years ago - I mean proper evidence. The fact is there was never mortgage rationing in the first place.

    There's no mortgage rationing. The number of lenders in the market has diminished that's all.
  • thescouselander
    thescouselander Posts: 5,547 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    HAMISH_MCTAVISH wrote: »
    I think our resident bear in chief asked you recently if you'd been asleep for the last 6 years?

    When even the uber-bears accept there has been a severe reduction in mortgage lending, and the CML described lending post crunch as "dysfunctional", and every major media outlet accepted it, don't you think it's time to give in and face reality?

    Yes, there has been a reduction in mortgage lending but it wasnt anything to do with rationing. It was merely a return to more sensible lending criteria which inevitably means more people will be unable to secure the ludicrous amounts of credit they used to have access to.
  • makeyourdaddyproud
    makeyourdaddyproud Posts: 1,294 Forumite
    shortchanged wrote: »
    How is it good news for an FTB'er that they now have to pay nearly 10% more for a property than last year?

    Please explain Hamish why it's good news that an FTB'er now has to have a bigger mortgage to buy a property?

    I think you've got confused - a bull housing market, such as the one occurring now, means any FTBer planning to enter the market even with a slightly higher premium, will gain over the longer term. Your £100k grin and £110k grimace will be long forgotten about in even 12 months' time, as statistics are currently showing.
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