Nice Time Series someone has taken a hit!
Posted 09 April 2011 - 04:15 PM
- Inflation to drop sharply and to a level that makes pay rises and savings account rates seem half decent
- BTL to be revealed as the next financial disaster in the making as potential tenants buy lower priced houses
- Progress to be made toward the market bottoming out from 2015, so more falls but not as seen in 08-09
Posted 09 April 2011 - 08:00 PM
Zoopla now has it sub 100K
Posted 09 April 2011 - 11:29 PM
Well, if you have a job, wages around here are no more than they were in 2003, certainly for the folks who would be looking at this house. Lending is much tighter. So Zoopla's assessment looks pretty reasonable to me. I'd not give them more than 80K for it!
Posted 10 April 2011 - 06:21 PM
Posted 11 April 2011 - 07:38 AM
I don't know your personal circumstances, but net lending is at the lowest levels since records began in '87. Now I'm sure you are correct that the banks do want to lend, but anecdotally, from FTB crowd at work and locally in the town, the story seems to be that mortgages are available, iff a large deposit is available. Most of these potential FTBs do not have money available, in fact I'd suspect in many cases they owe the sort of money required for a deposit, although only a few have admitted this. The rest of the housing market around here now appears to be little more than equity swapping, with few cash buyers or buy to letters jumping in.