House prices

buglawton

Regarding immigrant and foreigner housebuying: Many Asian countries have a savings rate 3 times of ours. Even Europeans are more savings-oriented. That culture does help to make a spearhead when arriving in the UK to buy. Another consequence of globalisation, when different cultures arrive, the local economic balance can be upset.

What do our politicians do to control this? Ban purchases of homes by people not domiciled in the country like NZ did? Not on your Nelly.

Windofchange

GreatApe wrote: »

Your link shows the UK born rental tenure is 14% do you believe that to be too high? If so what should it be?

This isn't about what my thoughts on a given percentage are. If you are going to attempt a sarcastic look at how clever I am response to something, then it would perhaps be wise to base this upon fact? Yet again, you want to set yourself up as the master of stats and facts but are either too lazy or too ignorant to check what you are posting. It is in essence why I can't be bothered having any more debates with you here about house price direction.

Windofchange

GreatApe wrote: »

Whatever their jobs are the fact is they are buying houses and getting on with life, contrary to the crash cheerleader thesis that houses are unaffordable many of them are finding them affordable......

And we can add this to the above as a prime example of why it is impossible to have an educated debate with you.

GreatApe wrote: »

There is such a huge housing crisis in the UK that only half (47.4%) of newly arrived migrants who come here with little to nothing managed to buy over the last 5 years. What a horror only half the migrant households that came to the uk over the last five years are now owners

You are trying to make a point that the housing market is functional based on 47.4% of migrants being able to get a house after 5 years. In other words, you are assuming migrant = fallen off the side of a boat in Dover, when infact it could be flew to the UK from Dubai in a private jet. Accepting this then makes a mockery of any point you seem to think you have in relation to how functional the housing market is. Do you get it?

So, I ask you again, where is your evidence that 100% of migrants come here with "little to nothing?"

Saying whatever their jobs kind of misses the point don't you think? What if my randomly chosen 100 migrants were all Oil executives? Does that show that the housing market is affordable and functioning?

MobileSaver

Gorgeous_George wrote: »

[Posted October 2017] interest rates could rise next month. ... This would be a huge downward pressure on house prices.

MobileSaver wrote: »

Fake news. An interest rate rise next month will not lead to "huge downward pressure" on house prices.

Originally Posted by Gorgeous George
MobileSaver. Time will tell.

MobileSaver wrote: »

Sure will! Based on your prediction we'll know who is right by Christmas [2017]...

Gorgeous George, time has told; interest rates did go up but rather than the huge downward pressure you predicted, a year later house prices are actually higher and this despite all the Brexit uncertainty.

I hope for your sake that your children ignored your financial advice and will repeat my sentiment from a year ago; teaching your children that they can time the property market is a mug's game.

Crashy_Time

GreatApe wrote: »

Whatever their jobs are the fact is they are buying houses and getting on with life, contrary to the crash cheerleader thesis that houses are unaffordable many of them are finding them affordable......

"Separate figures from the Bank of England showed that mortgage approvals for house purchases fell in November, and are now at half the level of 15 years ago."


Something in your argument doesn`t add up, and this is before they shut down FOM!

Crashy_Time

MobileSaver wrote: »

Gorgeous George, time has told; interest rates did go up but rather than the huge downward pressure you predicted, a year later house prices are actually higher and this despite all the Brexit uncertainty.

I hope for your sake that your children ignored your financial advice and will repeat my sentiment from a year ago; teaching your children that they can time the property market is a mug's game.

Enquiries, mortgage approvals and transactions are all lower though :rotfl:

ExremelyCautiousSocialist

But rental market still growing?

MobileSaver

Gorgeous_George wrote: »

This would be a huge downward pressure on house prices.

Crashy_Time wrote: »

Enquiries, mortgage approvals and transactions are all lower though

You agree then that Gorgeous George couldn't have been more wrong as house prices are higher rather than hugely lower? :rotfl:

And yes transaction levels are a whopping 0.74% lower than October 2017... is that your definition of a "crash" now?

Jack_Johnson_the_acorn

MobileSaver wrote: »

You agree then that Gorgeous George couldn't have been more wrong as house prices are higher rather than hugely lower? :rotfl:

And yes transaction levels are a whopping 0.74% lower than October 2017... is that your definition of a "crash" now?

When the house price indexes point up Crashy points to something else... It's been his tactic for the last few 4 years on this board. Funny to see him still doing it all these years later. 1 day he'll be proven right though, like a stopped clock. :rotfl:

When Crashy started posting on here the average house price in the UK was £178,921. As of October 2018 the average house price in the UK was £231,095. That's a 30% increase.......

I'd feel a little embarrassed if I called myself "Crashy time"

51mm5

Crashy_Time wrote: »

"Separate figures from the Bank of England showed that mortgage approvals for house purchases fell in November, and are now at half the level of 15 years ago."


Something in your argument doesn`t add up, and this is before they shut down FOM!

I'm sure the OP was referring to House prices :think: