House price growth slowest since 2013 - Halifax

Conrad

padington wrote: »

I've been very bullish for years and for good reason but this time no one knows, brexit is a complete unknown and we are coming precariously close to a possible house price tipping point.

The vast majority of people pay next to no attention to politics and Brexit, they just get on with life.


Lots of people are prospering and confident and I personally don't see a significant trigger to bring about an extended property crash. In an unstable world (including a very unstable EU), the UK remains a safe haven for investors.


It's worth pondering the up-side - by 2019 as we take up our own seat at global rule setting bodies, and UK-EU trade is not meaningfully self-harmed (it wont be) and we are lining up all sorts of global trade deals with for example the huge Commonwealth (GDP not far behind EU's but faster growth), I think there will be a real sense of excitement and confidence.


Swivel-eyed? Perhaps it's the doom sayers that are swivel-eyed - have they even considered this possibility?

Thrugelmir

worldtraveller wrote: »

With the uncertainty over Brexit and status, I would expect a lot of people to move back 'home'.

Or simply that the good times are over in the UK. Makes sense to cash in and transfer wealth back home where your money buys more. Poland joined the EU in 2004. So many people have been here 10 years. Nor is the community spirit amongst the Polish the same talking to people in the office.

setmefree2

Rightmove

Year-on-year, growth plunged to 2.3 per cent from 7.6 per cent in March 2016. This was because this time last year, buy to let investors were snapping-up properties before the deadline for the three per cent rise in stamp duty land tax.
In London, the average asking price grew 1.4 per cent month-on-month in March, equivalent to £8,656. The outer London boroughs have been driving house price growth in the capital:

Miles Shipside, Rightmove director, said: "While six consecutive years of price rises have been a gravy train for many home-owners, some of them are running into the buffers of affordability when they come to trade up.
"Meanwhile many would-be first-time buyers are being left waiting on the platform struggling to even get on board. Modest average wage rises and tighter lending criteria have limited buyers' ability to pay more."
With interest rates at rock-bottom, servicing mortgage debt has become incredibly cheap. However, banks have become very cautious with their lending, making it more difficult for buyers to access this cheap credit.

http://www.cityam.com/261268/heres-much-house-prices-grew-month

Conrad

Never forget this FCA seminar speaker, all pompous and pious about protecting customers from themselves. She was exactly like The Green's Natalie Bennet - totally wet and far removed from front line realities.


Thanks to intrusive nannying from the likes of her, grown adults are told they cannot buy a home of their own. Amazing that we allow Adults to take all sorts of risks in their lives, but when it comes to them deciding whether they can afford a mortgage or not, suddenly they are rendered totally incapable.


Because a tiny proportion of owners end up repossessed, is this reason enough to treat everyone like a child?


Remember in the days of self cert, still less than 1% of all mortgagees got repossessed each year.

novice_1

Brexit uncertainty, low wage growth, non-UK citizens thinking about leaving, interest rates already at rock bottom, harsher tax treatment for private BTL owners.... makes you think it might be a difficult time for house price rises.