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B B A Mortgage Approvals Fall More Than Estimated

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To put it that 31,800 in context, the figures for last year were 38,100 or a 16% drop..

Or if you're the Daily Mail: "Mortgage approvals PLUMMET 16%"

Or if you're the BBC: "Mortgage approvals ease 16% as market stabilises"

Edited by exiges

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To put it that 31,800 in context, the figures for last year were 38,100 or a 16% drop..

Or if you're the Daily Mail: "Mortgage approvals PLUMMET 16%"

Or if you're the BBC: "Mortgage approvals ease 16% as market stabilises"

Oh no, I think this is more of a softening. Mmmmmmmm... soft

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To put it that 31,800 in context, the figures for last year were 38,100 or a 16% drop..

Or if you're the Daily Mail: "Mortgage approvals PLUMMET 16%"

Or if you're the BBC: "Mortgage approvals ease 16% as market stabilises"

Or the Daily Diana: "House prices to rocket"

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Lending to companies

total net lending                           - £ 23.2 bn  - £  3.9 bn  - £  5.2 bn    £ 681.4 bn  net lending to non-financial companies      - £  1.0 bn  - £  2.4 bn  - £  1.3 bn    £ 327.6 bn  net lending to financial companies          - £ 22.2 bn  - £  1.5 bn  - £  3.9 bn    £ 353.8 bn  

Anyone explain this bit to me ?

D

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Lending to companies

total net lending                           - £ 23.2 bn  - £  3.9 bn  - £  5.2 bn    £ 681.4 bn  net lending to non-financial companies      - £  1.0 bn  - £  2.4 bn  - £  1.3 bn    £ 327.6 bn  net lending to financial companies          - £ 22.2 bn  - £  1.5 bn  - £  3.9 bn    £ 353.8 bn  

Anyone explain this bit to me ?

D

Companies repaying more debt than Is being lent out.

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Has anyone noticed that the actual approval value has fallen from £148500 (july 2010) to £143500 (aug 2010) so that is a house price DROP of 3.37%

I'd say a drop of 3.37% in a month is a flippin' CRASH. You don't need too many of those months to correct the market!!

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Lending to companies

total net lending                           - £ 23.2 bn  - £  3.9 bn  - £  5.2 bn    £ 681.4 bn  net lending to non-financial companies      - £  1.0 bn  - £  2.4 bn  - £  1.3 bn    £ 327.6 bn  net lending to financial companies          - £ 22.2 bn  - £  1.5 bn  - £  3.9 bn    £ 353.8 bn  

Anyone explain this bit to me ?

D

Where did those figures come from?

Are they negative signs, or just dashes?

If net lending is falling at the pace that appears to be shown here, then you can bet your house someone else is living in and not paying the mortgage on, that we are going to have a lot more QE very soon.

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View Postexiges, on 23 September 2010 - 09:44 AM, said:

To put it that 31,800 in context, the figures for last year were 38,100 or a 16% drop..

Or if you're the Daily Mail: "Mortgage approvals PLUMMET 16%"

Or if you're the BBC: "Mortgage approvals ease 16% as market stabilises"

Oh no, I think this is more of a softening. Mmmmmmmm... soft

Close, but no cigar. It's a 'dip'.

http://www.bbc.co.uk/news/business-11397084

Edited by Tenubracon

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Has anyone noticed that the actual approval value has fallen from £148500 (july 2010) to £143500 (aug 2010) so that is a house price DROP of 3.37%

I'd say a drop of 3.37% in a month is a flippin' CRASH. You don't need too many of those months to correct the market!!

Nah, the approval values of the few properties sold might have fallen 3.37%, all other UK property must be worth at least 1% morth than the previous month. Because we`re worth it.

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That BBA report makes interesting reading.

They don't sound like they think there is going to be much of a demand for property in the future, and that it has nothing to do with lack of supply.

"demand for mortgages continues to be weak despite more properties reportedly coming on to the market. Even with stable or falling house prices the current economic climate makes it unlikely that demand will pick up in the near future."

It makes you wonder just how much is still owed on those credit cards, if the stable growth in card borrowing is mainly just down to cardpayers paying off interest.

"repayment levels are holding up and more than matching new spending levels, so the stable growth in card borrowing, largly, reflects interest accruing."

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Has anyone noticed that the actual approval value has fallen from £148500 (july 2010) to £143500 (aug 2010) so that is a house price DROP of 3.37%

And this is the problem with figures like Rightmove's which only records the initial asking price, which is only very loosely related to what the property sells for, and is often cluttered with houses that have been on their for years at the same price.

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Also from ThisIsMoney:

Howard Archer, chief UK and European economist at IHS Global Insight, said: 'The BBA data showing mortgage approvals sinking to a 16-month low in August heightens our belief that house prices will trend down over the coming months.

'We suspect that house prices will fall by around 10% between now and the end of 2011. In our view, the housing market really has not got much going for it at the moment, apart from low mortgage rates - and that is if you can get a mortgage.'

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BBC

"The figures are another indication that the UK property market has reached a plateau.

Most surveys have shown that prices are no longer rising, while the number of completed sales also fell last month."

Plateau???? Wow these people must live on mountain sides if this is a plateau to them.

Prices no longer rising, ha ha ha ha ha. That's another way to say falling isn't it! Incredible reporting.

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I dont know how so could any one please post table 5 from excel sheet at bottom of http://www.bba.org.u...street-banking/

Has average loan value and number of approvals.

A graph would be good too!

Looking at that table, loans outstanding (and secured on property seem to have risen by 50% since Feb 2009.

That can't be right can it?

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BBC

"The figures are another indication that the UK property market has reached a plateau.

Most surveys have shown that prices are no longer rising, while the number of completed sales also fell last month."

Plateau???? Wow these people must live on mountain sides if this is a plateau to them.

Prices no longer rising, ha ha ha ha ha. That's another way to say falling isn't it! Incredible reporting.

I wonder if there's a direct link between house price ramping and illiteracy? A whole generation of people must be growing up thinking that a plateau is a sheer drop, buying something cheaper is bad news, easing means dropping and boom means bust.

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  • 140 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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