'We've reached a tipping point' Signs of house price weakness

chucknorris

Blooloo wrote: »

I did remove an n from Tennant to add some levity!

Of those two, I would say Eccleston as he added a certain atmosphere to the role..quite disappointed he pulled out so early, but I think he wanted to remain a free spirit rather than a "doctor who" for the rest of his career.

I was disappointed too, it took me a short while to warm to David Tennant because of that. The show is much more watchable with really good actors like them and also Billy Piper and John Simm (who was excellent as the Master), IMO without actors of that calibre it falls to the level of a school play.

Rinoa

Blooloo wrote: »

The CML said the latest national average income multiple for all home purchase borrowers is 3.22.

Yet the average mortgage is close to 150K

and the average salary is around 25K.

You're confusing average wages with the average wages of those who buy property. Here's the correct CML version.

Lending to home movers

In the second quarter of 2014, lending to home movers showed similar, albeit slightly lower, growth patterns to first-time buyer lending.
Home mover affordability changed fractionally, with home movers typically borrowing 3.09 times their gross income, compared to 3.10 in May. The typical loan size for home movers was £154,000 in June, up from £150,000 in May. The typical gross household income of a home mover was £52,000 in June compared to £50,600 in May.
Home movers' payment burden remained relatively low in June at 18.7% of gross income being spent to cover monthly capital and interest payments, up slightly from 18.7% in May.
While new regulatory rules came into effect in the second quarter of 2014, home movers characteristics changed only marginally within this period. Home movers borrowed on average £151,000, up from £147,000 in the first quarter of the year. They typically borrowed 3.09 times their income, up slightly from 3.05 in the first quarter of 2014. The average household income of home movers increased to £51,300 in the period, up from £50,200 in the first quarter of 2013.

Bubble_and_Squeak

chucknorris wrote: »

I was disappointed too, it took me a short while to warm to David Tennant because of that. The show is much more watchable with really good actors like them and also Billy Piper and John Simm (who was excellent as the Master).

i thought the first time he played the master was much better than the second

wotsthat

Blooloo wrote: »

The CML said the latest national average income multiple for all home purchase borrowers is 3.22.

Yet the average mortgage is close to 150K

and the average salary is around 25K.

Apples and oranges. The average homebuyer earns more than the average salary.

CML don't use average salary either. It's based on the income used to support the mortgage so could be joint combined.

You've proven something about banksters based on a woeful misinterpretation of the data.

Rinoa

Bubble_and_Squeak wrote: »

i used to rent a half decent 4 bed flat in chingford for £700 a month and sublet the other rooms
came across it by chance- bloke i knew inherited it and wanted someone he could trust (me) to live there and gave it to me on the cheap
so it is possible to get cheap digs

He obviously recognised you as an HPC member and immediately reduced the price by 50%.

chucknorris

Bubble_and_Squeak wrote: »

i thought the first time he played the master was much better than the second

I must have missed that one, the first was when he was the PM right? What was the second one?

Blooloo

Bubble_and_Squeak wrote: »

i used to rent a half decent 4 bed flat in chingford for £700 a month and sublet the other rooms
came across it by chance- bloke i knew inherited it and wanted someone he could trust (me) to live there and gave it to me on the cheap
so it is possible to get cheap digs

recent Beeb article on "let to let".

Thats where the LL is peed off looking after the rentals and takes on a tenant who rents it out himself and pockets the difference.

The Landlord still pays all the costs of upkeep, but isnt paying an agent for anything

So in actual fact, it could be possible to rent a large home and sublet and pay little for it...

ukcarper

Bubble_and_Squeak wrote: »

i intend to buy a house before april 2015 so hopefully paying rent when i'm a pensioner won't be an issue
the buy v rent is tiresome

What if prices don't fall.

Bubble_and_Squeak

ukcarper wrote: »

What if prices don't fall.

most likely but what i can within my budget
i expect a flood of CGT tax dodging properties on the market before april. i think this is when supply will peak.
might look into buying in cyprus, though. property is VERY cheap there at the mo and is expected to fall further due to some kind of eviction law changes related to the bail out

Bubble_and_Squeak

Blooloo wrote: »

recent Beeb article on "let to let".

Thats where the LL is peed off looking after the rentals and takes on a tenant who rents it out himself and pockets the difference.

The Landlord still pays all the costs of upkeep, but isnt paying an agent for anything

So in actual fact, it could be possible to rent a large home and sublet and pay little for it...

my landlord had this kind of attitude
i got fed up of chasing people up for money
and all the tricks they try to delay payment