Latest CML figures

BBC: Mortgage lending dip continues, says CML

"Gross lending totalled £16.9bn in November, down 9% from October, the Council of Mortgage Lenders (CML) said". "It added that a "gentle trajectory" for the mortgage market would "calm" any concerns over the effect of a housing boom on the UK economy in general".

Posted by alan @ 06:30 PM 0 Comments

Perfect storm?

Yahoo FINANCE: 4 Reasons Why House Prices Are Set To Plunge Next Year

House prices in the UK may fall significantly in 2015. Here’s why.

Posted by hpwatcher @ 01:30 PM 2 Comments

Oil glut wont last long

BBC: North Sea oil industry 'close to collapse'

It's almost impossible to make money at these oil prices", Mr Allan, who is a director of Premier Oil in addition to chairing Brindex, told the BBC. It's a huge crisis. This has happened before, and the industry adapts, but the adaptation is one of slashing people, slashing projects and reducing costs wherever possible, and that's painful for our staff, painful for companies and painful for the country.

Posted by mountain goat @ 12:33 PM 1 Comments

First Switzerland, next the world

Financial Times: Swiss central bank moves to negative deposit rate

Well, if Sterling starts strengthening seriously against the Euro, we could see this. Incidentally, it is penned as Central Bank Action, but in reality, they are like flags in the wind. The truth is that the demand to deposit money in Swiss banks is so high that there is no need the raise rates to meet demand for the currency. The central bank is merely responding to external forces, just as with Russia, where private swap rates for the currency rose in advance of the central bank rate rise. Central banks are not in control, they compete with the private sector for capital. Thus, what the BOE say may not match what they do if markets do not behave as they rarely do, which is why they always need a crisis story to explain fraudulent policy that changes with the wind.

Posted by libertas @ 08:51 AM 44 Comments

Wednesday, Dec 17, 2014

The Next Election will Impact House Prices Going Forward

Guardian: Labour opens up five-point poll lead over Tories

House Prices in a year's time will be decisively affected by the May election. It's coming closer. My removals friend said volumes of house moves are up in our area for December. A Mansion Tax then in 2015?

Posted by alan @ 09:46 PM 8 Comments

Interesting view!

CityAM: UK wages set to continue to beat inflation with a 2.5pc rise in pay over 2015

If inflation was stable then wages rising above inflation would be great maybe, but this article misses that there has been about 7 years of inflation going above wages!! So to speak about solely this year is meaningless. Wages are accelerating due to the amount of extra cash that has been pumped in because the extra cash eventually spreads out.

Posted by stillthinking @ 12:00 AM 8 Comments

Tuesday, Dec 16, 2014

Will this prevent a slide of asking prices in London

Guardian: Lowest-ever 10-year mortgage deals launched

"Santander this morning launched its lowest-ever 10-year mortgage pegged at 3.44% until 2024, aimed at home buyers able to stump up a 40% deposit....." Favourite areas like Hammersmith and Fulham have dropped significantly over the last 2 months, are their flat prices now set to continue their upward path?

Posted by alan @ 09:21 PM 4 Comments

One Man's Blessing is Another Man's Curse

BBC: UK inflation rate at 12-year low of 1% as fuel costs fall

"Inflation as measured by the Retail Prices Index fell to a five-year low of 2%, down from 2.3%" for comparison purposes. Lower energy prices benefit drivers on the UK forecourts as oil producing countries weather the storm of lower income for the same productive work. Among others, this will undoubtedly help some people struggling to pay their monthly mortgages.

Posted by alan @ 09:10 PM 1 Comments

Monday, Dec 15, 2014

Cameron loosing confidence in outright Tory win for 2015

Mail: First-time buyers under 40 to be offered 20% discount on 100,000 new homes starting next month

David Cameron will today announce that the 'Starter Home' initiative will be fast-tracked so potential buyers can register as early as January. Under the scheme, 100,000 houses will be built on so-called 'brownfield' land and reserved for sale only to young people buying their first homes.

Posted by hpwatcher @ 02:38 PM 22 Comments

Price Index shows fallng prices

Rightmove: December 2014

"Year ends with largest ever monthly fall in price of property coming to market". Download your own .pdf

Posted by alan @ 10:14 AM 8 Comments

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