rantnrave

Another reason for the BoE to see-through rising food prices?

They are reporting on the latest RICS numbers...

And in other news... https://propertyindustryeye.com/little-evidence-of-house-price-growth-slowing-at-least-not-yet/

Because house prices aren't included in inflation figures

https://propertyindustryeye.com/average-two-year-mortgage-surpass-3-for-first-time-in-over-seven-years/

Coventry upping rates on my Easy Access saver to 1.4% in a few weeks. The prediction here that the Chase account 1.5% offering would come under pressure soon appears to be coming true.

Some actual numbers here: https://propertyindustryeye.com/record-number-of-offers-accepted-as-sellers-sense-housing-market-slowdown/

Let's hope so. When supply is low, it's not just about limited choice. Fighting for stock means EAs fall over each other to overvalue properties in order to get something on their books.

Alternative explanation here: https://propertyindustryeye.com/rightmove-shares-tumble-after-ceo-resignation/

I spotted a local EA which was a major offender of this - marking properties as 'newly reduced' when they were exactly the same price - just to get them bumped up listings. When I rang them up to query it, they denied everything - even when I asked them what the previous price was. I reported them directly to RM, who replied within 48 hours and said they would look into it. They contacted me a week later to say their investigations had concluded... and I was indeed right. They had therefore spoken directly with company's owner and reminded him of the standards Rightmove expects (!?!). He was apparently told that any more such malarkey and they will be excluded from the site.

Interesting discussion about this topic over on Property Industry Eye https://propertyindustryeye.com/senior-tory-mp-blames-housing-crisis-for-local-election-losses/

Is there something about straws breaking a camel's back in the Bible?

Halifax data out this morning. Up 1.1% over the last month. As you were..

Unanimous decision

Up 0.25% confirmed

Which at an occupancy rate of 2.3 per dwelling requires 130,000 new units to be constructed a year.

Got mine weeks ago, which I attributed to having a sirname starting with a letter close to the beginning of the alphabet...

And the cost of shipping the finished goods to the rest of the world?

Number of UK households with a mortgage ~35% Number of UK households the establishment and BoE believe have mortgages ~95%

And do we still get a Jubilee Bank Hols??

ZIRP Quantitative Easing (QE) Special Liquidity Scheme (SLS) Project Merlin Support for Mortgage Interest (SMI) Help to Buy (20%) Help to Buy London (40%) Help to Buy ISA Lifetime ISA (LISA) Funding For Lending (FFL) Term Funding Scheme (TFS) TFSME Bank bailouts Mortgage payment holidays during Covid Business Bounce Back Loans (which were openly being used to purchase Buy to Let) Buy To Let mortgage interest tax relief Sure I've missed many...

A 0.25% rise will take UK IRs to their highest level in 13 years, so it's a key moment IMO.

Didnt BOE meetings re interest rates happen a couple of days before monthly inflation updates? Years back, it was believed that the MPC had access to this data beforehand and the reasons for unexpected changes in interest rates became clearer a couple of days later when inflation data was released. The new MPC rate setting schedule, 8 times a year, has broken that link?

This will be data from mid Feb to mid March. Seeing a smaller pay packet this week, re extra NI costs, should be a big impact on sentiment IMO. Lots of notifications have also arrived in recent weeks re fuel bill increases too. These have been in the pipeline for weeks if not months and discussed on this site. It does seem that people have to experience falling disposable incomes rather than be told its imminent in order to change sentiment.

My mobile phone is so old, museums could be interested in it...