Mortgage Lending Rising Again

wotsthat

Bubble_and_Squeak wrote: »

YEYS!
5.9% DOWN in london!
THIRD straight month of decline!
coming straight after bout of double digit growth
told you!
and you thought mortgage lending rising, suckering naive first time buyers into a lifetime of debt would save the market?
this ship is SINKING!

You would've bought at April prices and the Rightmove index is now at the same level.

Are you going to buy or are you going to go all HPC, declare victory but keep renting because 'it's on' (this time)?

wotsthat

AndyGuil wrote: »

Asking price...

Sold prices haven't fallen once this year despite it being very common this time of year for both asking and selling prices to fall.

Biggest drop for 6 years so it's worth a mention for once.

Be interesting to see how it pans out. I watch Bloomberg a lot and they really like the buzzwords - 18 months ago they were talking about stagnating house prices, 6 months ago a bubble and today it's a rout.

Reality is prices went up a lot due to lack of supply, there's been a big supply reaction as a result and prices will moderate or decline. If there's a big fall we know the pattern now - very few people are able to take advantage because sellers just take their houses off the market.

AndyGuil

wotsthat wrote: »

Biggest drop for 6 years so it's worth a mention for once.

Be interesting to see how it pans out. I watch Bloomberg a lot and they really like the buzzwords - 18 months ago they were talking about stagnating house prices, 6 months ago a bubble and today it's a rout.

Reality is prices went up a lot due to lack of supply, there's been a big supply reaction as a result and prices will moderate or decline. If there's a big fall we know the pattern now - very few people are able to take advantage because sellers just take their houses off the market.

To be expected. Asking prices are way ahead of selling prices over £100k difference. Last year really pushed asking prices too much.

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

YEYS!
5.9% DOWN in london!
THIRD straight month of decline!
coming straight after bout of double digit growth
told you!
and you thought mortgage lending rising, suckering naive first time buyers into a lifetime of debt would save the market?
this ship is SINKING!

As you you've said the ship is sinking, give us your prediction for the following year to Aug15

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

As you you've said the ship is sinking, give us your prediction for the following year to Aug15

significant and speedy correction to something like 2012 levels, though probably a bit above (help to buy)
bottoms out around april 2015 (capital gains tax/new pension rules)
then depends on which circus is running the muppet show
the tories will probably conjure up some scheme to inflate prices again
labours much talked of mansion tax could be significant
i intend to buy between december and april

Bubble_and_Squeak

i lurrrrrrve the way you're all sticking to your flawed supply/demand theory

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

significant and speedy correction to something like 2012 levels, though probably a bit above (help to buy)
bottoms out around april 2015 (capital gains tax/new pension rules)
then depends on which circus is running the muppet show
the tories will probably conjure up some scheme to inflate prices again
labours much talked of mansion tax could be significant
i intend to buy between december and april

2012 levels, what's that for your area? and if they don't how much do you stand to lose? Are you currently renting?

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

2012 levels, what's that for your area? and if they don't how much do you stand to lose? Are you currently renting?

i'm currently renting in haringey but have no hope whatsoever of ever buying here. prices here and reality reside in two different dimensions.
my budget is £300k and i'll be looking for a house (don't get why anyone would buy a flat) around stratford

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

i'm currently renting in haringey but have no hope whatsoever of ever buying here. prices here and reality reside in two different dimensions.
my budget is £300k and i'll be looking for a house (don't get why anyone would buy a flat) around stratford

If houses are selling in Haringey then clearly they are priced realistically, whether or not you can afford to buy there is beside the point.

Clearly rent in Haringey is quite expensive, how much do you stand to lose by holding out on the market?

System

We had a thread about Haringey this year.

https://forums.moneysavingexpert.com/discussion/4928110