Friday, Oct 13, 2017

Friday 13 Bear food

Mortgage Solutions: Housing ‘bubble alert’ issued by mortgage adviser for 19 UK towns and cities

Mortgage broker One 77 Mortgages has issued a “bubble alert” on 19 mainly northern UK towns and cities, where house prices are rising but mortgage lending is falling.The research confirmed the “gap” is a measure of affordability by comparing the percentage difference between annual drop in lending against annual house price changes. With this metric, Cleveland was most at risk, with property values rising 11% between Mar 2016 and Mar 2017, while lending fell 0.9%. Following Cleveland was Blackburn, with a gap of 6.8%, and Blackpool, at 6.2%.

Posted by jack c @ 09:46 AM (6052 views) Add Comment


1. nickb said...

I guess this confirms what we already know, that the high prices are only achievable on the back of low sales volume. Interesting that they regard London as an exception to the pattern instead of making the obvious inference that there the bubble is already deflating, and that indeed it is a bellweather for the rest of the market. I'm sure if they look back a little longer they would see a similar pattern there, before prices started to fall?

Friday, October 13, 2017 11:13AM Report Comment

2. crash bandicoot said...

House prices have been a one-way bet for so long now that the vast majority see that as the norm these days.

Prices are really only underpinned by sentiment, and no number of incentives will make anyone stretch their finances to buy something that they believe will fall in value. I don't imagine that the sentiment has changed suddenly, is this a reflection of tighter lending policies?

Friday, October 13, 2017 01:54PM Report Comment

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