Sunday, Oct 28, 2007
Is the slide is already bigger than it first appears?
Independent on Sunday: Lending slides as housing jitters take hold
Apologies if the BBA stats have already been commented on - the IoS article highlights the comparison to last Sept's lending values (big drop), but a quick trawl on the BBA website seems to show that the average per loan amounts have dropped 4.5% since July. Do buyers suddenly have bigger deposits? Are they only buying cheaper homes? Or are the stats showing that on 'average', house prices have been falling for the past 3 months? (Assuming LTV %ages are relatively static)
Posted by happyrenter @ 11:03 AM (1741 views) Add Comment
3 Comments
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1. happyrenter said...
Av loan value peaked at £159,600 in the July figures (for June), but had dropped to £152,300 in the ones out last week for Sept
2. Bigyin said...
David20040_0, time for you to whine about immigration and land?
3. enuii said...
Just done my usual rightmove search on my postcode and half a mile around, total properties for sale up 3.5% on last week and 37.3% up on the April figure of 84 at 115 for sale today Sunday. I expect a further rise in numbers throughout this week.
Another point worth adding to this is that many people may be put off moving by the prospect of loosing their existing fixed rate which may be a double whammy in the absence of FTB's.