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I am actually trying to buy a property at the moment and will tell you what it is like out there right now.

I want to put down £38,000, and borrow £87,000 against a property I might be able to get for £125,000, which went to market in February 2008 for £255,000. I want almost exactly 3.5x my taxable income of £25,000.

My broker can find three lenders willing to trade on those terms. Two years ago, there would have been dozens, if not hundreds. And I am in a relatively strong position.

What chance does someone with less deposit wanting to buy a more expensive property have?

Rinoa, are you an estate agent?

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My broker can find three lenders willing to trade on those terms. Two years ago, there would have been dozens, if not hundreds. And I am in a relatively strong position.

What chance does someone with less deposit wanting to buy a more expensive property have?

Rinoa, are you an estate agent?

No. Don't think an EA would have the time to post all day. It being so busy at the moment. :P

Does your broker select from a panel of lenders, or does he cover the whole market?

And are you aware that many lenders do not have tie-ins with brokers these days.

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You missed it?

That's what happens when you spend all your time spinning.

I haven't made one.

Rinoa, why are you afraid to clarify your position?

You are a bull so we know that you think prices have bottomed / are rising even though there is not yet any evidence supporting this.

You are ecstatic that approvals are down from 131,000 to 37,000 and herald it a turn in the market.

You are blind-sided to all external economic events and feel that house prices will rise dispite continuously rising unemployment.

You are not sure enough to put your money where your mouth is and either accepts wagers or invest in property.

That is all we KNOW about you.. why don't you paint us the rest of the picture so we can better understand where you are coming from?

Edit: SPG

Edited by libspero
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Rinoa, why are you afraid to clarify your position?

You are a bull so we know that you think prices have bottomed / are rising even though there is not yet any evidence supporting this.

You are ecstatic that approvals are down from 131,000 to 37,000 and herald it a turn in the market.

You are blind-sided to all external economic events and feel that house prices will rise dispite continuously rising unemployment.

You are not sure enough to put your money where your mouth is and either accepts wagers or invest in property.

That is all we KNOW about you.. why don't you paint us the rest of the picture so we can better understand where you are coming from?

Edit: SPG

You've already decided that I have a vested interest.

Why dispell the myth.

<_<

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I thought I would use this thread to boast of one sale I am very pleased to see.

5 bed Victorian terrace in prime leafy centre of Cambridge was on at £550k late last year.

Today's ourproperty Registry update tells of the sale price in early February.

If non-cash it was a sale that added to the figures our bull friends so swoon over today.

It was of super prime stock, in a super prime area; supposedly immune.

It sold for £360k.

I'm liking any spring bounce that involves 35% falls!

And very glad I pulled out of a £260k purchase of 2 bed in the worst road of the same suburb 2 years ago.

Smiley time.

:lol:

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Rinoa, why are you afraid to clarify your position?

You are a bull so we know that you think prices have bottomed / are rising even though there is not yet any evidence supporting this.

You are ecstatic that approvals are down from 131,000 to 37,000 and herald it a turn in the market.

You are blind-sided to all external economic events and feel that house prices will rise dispite continuously rising unemployment.

You are not sure enough to put your money where your mouth is and either accepts wagers or invest in property.

That is all we KNOW about you.. why don't you paint us the rest of the picture so we can better understand where you are coming from?

Edit: SPG

Rinoa has already stated his/her position:

http://www.housepricecrash.co.uk/forum/ind...p;#entry1755431

I don't own property other than my PPR...

So either deep in negative equity, or just likes that warm, cozy feeling of their house going up in value even though it makes no difference to their standard of living.

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This is the key leading metric IMHO.

I have no conclusion to this question. With the amount of money that has been pumped in (to banks and on the BoE interest rate) you would expect some increase. Also, its reasonable for prices to go up in Feb (from Jan) so maybe this is to be expected and next month it will be down again.

Or maybe all the anecdotals of an increase in "SOLD" (SSTC) signs are true - I've read some threads with people dismissing this.

Thoughts welcome

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This is the key leading metric IMHO.

Agreed.

With the amount of money that has been pumped in (to banks and on the BoE interest rate) you would expect some increase. Also, its reasonable for prices to go up in Feb (from Jan) so maybe this is to be expected and next month it will be down again.

It's 3 months in a row now, and you're right, the QE and bank bailout money should just be starting to filter through, I'd expect this to have an impact like we've seen, slow steady increases in approvals as bank funding increases.

If the pattern continues, we may see prices stabilise in months rather than years.

62,000 aps per month is the magic number apparently, and Feb was almost at 40,000.

Or maybe all the anecdotals of an increase in "SOLD" (SSTC) signs are true - I've read some threads with people dismissing this.

Thoughts welcome

Well, in fairness, the anecdotals seem to have been correct, and it is now translating through into approvals, and then in a couple of months the land registry stats will show YOY declines reducing.

Still think it's too early for a recovery, but happy to be wrong about that.

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Agreed.

It's 3 months in a row now, and you're right, the QE and bank bailout money should just be starting to filter through, I'd expect this to have an impact like we've seen, slow steady increases in approvals as bank funding increases.

If the pattern continues, we may see prices stabilise in months rather than years.

62,000 aps per month is the magic number apparently, and Feb was almost at 40,000.

Well, in fairness, the anecdotals seem to have been correct, and it is now translating through into approvals, and then in a couple of months the land registry stats will show YOY declines reducing.

Still think it's too early for a recovery, but happy to be wrong about that.

You are right - too early - we still have capitulation to take place. Even the money men are starting to realise that it will be foolish to bail out via inflation alone. They will need to see the running costs of the country come down. That means lower cost base in terms of housing and public spend.

When the power brokers give up bailing is when we will see the denial phase end - then I expect the asking prices will start to reflect reality and also when people start to accept that the economy cannot run on rising house prices alone.

The power brokers know that if they bail too much then the economy will return to the unproductive HPI and spend - they are looking for a productive way out without causing a panick.

I see the bottom as 2013 with a few years after that bumping along the bottom - the mania with HPI needs to stop so that people can start to build real competitiveness.

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I don't like seasonal adjustments as they are more art than science.

I used to be suspicious of seasonal adjustments, but after some research I found Nationwide, HBOS and BoE stats are all adjusted using pretty sensible methods. I do my own seasonal adjustment for the house prices stats and they follow the official numbers closely enough.

Mortgage approvals have a very strong seasonal trend, so seasonal adjustment is important. It also takes account of the number of working days in a given month, which is why the adjustment for each month can vary from year to year.

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Agreed.

It's 3 months in a row now, and you're right, the QE and bank bailout money should just be starting to filter through, I'd expect this to have an impact like we've seen, slow steady increases in approvals as bank funding increases.

If the pattern continues, we may see prices stabilise in months rather than years.

62,000 aps per month is the magic number apparently, and Feb was almost at 40,000.

Well, in fairness, the anecdotals seem to have been correct, and it is now translating through into approvals, and then in a couple of months the land registry stats will show YOY declines reducing.

Still think it's too early for a recovery, but happy to be wrong about that.

Could not agree more. :)

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  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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