Mortgage Lending Rising Again

AndyGuil

Bubble_and_Squeak wrote: »

i only look at freehold properties so length of lease is not an issue
possibly flats are increasing and houses are falling- that may be why we disagree on this
i doubt it though

This is highly misaligned with the land registry and my own observations of the market. The statement isn't believable and wishful at best. Perhaps provide some examples and we can subject them to a review. Same properties on the same street would have the strongest case.

Rota

Bubble_and_Squeak wrote: »

i didn't say anything about 2008
you made that up to shoot it down
yes, london is currently awash with overpriced newbuilds being bought up by foreign speculators. does that set any alarm bells ringing?

You said the economy was in bad way, I compared to the worst in recent history. Would you concede its better than the worst we have seen recently?

Bubble_and_Squeak

AndyGuil wrote: »

It does this time of year. The demand also falls back over the summer too.

according to rightmove the number of marketed properties in walthamstow increased every month bar one from december 2013 (490) to july 2014 (878)
thats almost double
the old supply and demand argument has gone out of the window, across the rooftops, run away

AndyGuil

Bubble_and_Squeak wrote: »

according to rightmove the number of marketed properties in walthamstow increased every month bar one from december 2013 (490) to july 2014 (878)
thats almost double
the old supply and demand argument has gone out of the window, across the rooftops, run away

They normally do. Right from the start of the new year the number of properties increases. You get a peak around the middle of the year before it drops off before Christmas.

wotsthat

Bubble_and_Squeak wrote: »

so you think banks will increase mortgage lending to meet future house price rises?

I don't know and didn't know this time last year.

However, I rather suspect you thought the answer to the same question 12 months ago was no i.e. you thought you knew but it turned out you didn't (aka getting it wrong).

It's just, as a new poster, you have a hit rate of being correct 0% of the time so how can I be persuaded that you'll be correct over the next 12 months and get that hit rate to 50%.

Bubble_and_Squeak

Rota wrote: »

You said the economy was in bad way, I compared to the worst in recent history. Would you concede its better than the worst we have seen recently?

depends how you look at it
the economy as a whole is growing but productivity is stagnant and real wages are falling
personally, my situation has improved since 2007 as i'm lucky enough to have had pay rises just about inflation but i would guess the vast majority of the population are worse off

Bubble_and_Squeak

wotsthat wrote: »

I don't know and didn't know this time last year.

However, I rather suspect you thought the answer to the same question 12 months ago was no i.e. you thought you knew but it turned out you didn't (aka getting it wrong).

It's just, as a new poster, you have a hit rate of being correct 0% of the time so how can I be persuaded that you'll be correct over the next 12 months and get that hit rate to 50%.

well, i didn't pay any mind to these kind of issues 12 months ago
i started looking to buy a house late last year and saw asking prices rocket to the stars and wondered what was going on
i actually gave up looking for a house around april when a house i offered £300k for for sold for over £400k
a house in wlathamstow selling for so much over the asking price screams BUBBLE!
and (correct me if i'm wrong) never in history of house prices has a bubble not been followed by, dare i say it a crash

Jason74

AndyGuil wrote: »

Asking prices are not selling prices. Asking prices always drop this time of year! Yet selling prices go up. The asking prices have definitely not dropped below previous selling prices. London asking prices are +0.85% MoM this month anyway.

I ask again Andy, what is it you do for a living ?

AndyGuil

Jason74 wrote: »

I ask again Andy, what is it you do for a living ?

Why do you ask? What do you think?

wotsthat

Bubble_and_Squeak wrote: »

well, i didn't pay any mind to these kind of issues 12 months ago
i started looking to buy a house late last year and saw asking prices rocket to the stars and wondered what was going on
i actually gave up looking for a house around april when a house i offered £300k for for sold for over £400k
a house in wlathamstow selling for so much over the asking price screams BUBBLE!
and (correct me if i'm wrong) never in history of house prices has a bubble not been followed by, dare i say it a crash

So it's not possible for both mortgage lending and prices to increase over the next year because prices have increased in Walthamstow?