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Debate House Prices
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Interest rate rises likely to start from Spring 2015
Comments
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The truth is that most house purchases are for cash - no mortgages involved, therefore any rate change will have a big fat zero effect on the housing market.
The reason that people are using savings to buy property is because of low interest rates, in that cash isn't keeping up with inflation.Bringing Happiness where there is Gloom!0 -
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In some limited areas within London (and possibly elsewhere) cash does out perform mortgage purchases. Generally mortgage is the dominant purchase mechanism even though the amount of mortgage debt being approved is significantly less than before.0
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Local EAs told me that lots of cash buyers (or with hefty deposit to get a very low LTV mortgages) in the market lately.
If interest rate were higher, many of them would not have looked to buy houses.Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
Can someone tell me how many houses were sold in the UK in November 2013?Bringing Happiness where there is Gloom!0
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Can someone tell me how many houses were sold in the UK in November 2013?
http://www.bbc.co.uk/news/business-25504814
http://www.propertywire.com/news/europe/uk-property-cash-buyers-201310098328.html
http://www.landregistry.gov.uk/media/all-releases/press-releases/2014/market-trend-data-december-20130 -
Local EAs told me that lots of cash buyers (or with hefty deposit to get a very low LTV mortgages) in the market lately.
If interest rate were higher, many of them would not have looked to buy houses.
I have heard that a few time, "cannot get a return on my savings so might as well bung it into a BTL" Thereby low rates indirectly pushing up prices. Not saying it's good or bad, but do feel a bit sorry for some that want to buy a "home" and are being priced out by investors.0 -
Yeah, really wide of the mark. Jeeze, you really are dim. :rotfl:
Well done Sherlock. The evidence is indisputable.0 -
I have heard that a few time, "cannot get a return on my savings so might as well bung it into a BTL" Thereby low rates indirectly pushing up prices. Not saying it's good or bad, but do feel a bit sorry for some that want to buy a "home" and are being priced out by investors.
Shows how lacking "investors" are in financial skills are these days.........
Pensions too risky. BTL safe as houses.0 -
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