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Halifax: Houses Now Most Affordable In 12 Years For F T Bs

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http://uk.finance.yahoo.com/news/First-time-buyer-tele-4167606253.html;_ylt=AuiLDGQApcG6Wz79e3N0nPDSr7FG;_ylu=X3oDMTE4Y20waHEzBHBvcwM5BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNmaXJzdC10aW1lYnU-?x=0

First-time buyer affordability best for 12 years
Paul Farrow, 7:32, Wednesday 29 December 2010
Mortgage affordability for those looking to take their first steps onto the property ladder is at its most favourable for 12 years, according to the latest annual Halifax First Time Buyer Review.
The proportion of disposable earnings devoted to mortgage payments by a potential new first time buyer stood at 27pc in September 2010; the lowest since December 1998 and almost half of the peak level of 5pc in September 2007.
Halifax said that this significant improvement in affordability over the past three years has been mainly driven by a combination of lower house prices and declining mortgage rates.

This no doubt accounts for the large number of FTBs buying right now. The market never lies you know.

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At these interest rates, it is very affordable. Wait until the interest rates start to rise, and then we will see how affordable halifaxes clients think it is.

Halifax must be excluding those with less than a 40% deposit, because a 1st time buyer with a 10% deposit is looking at a rate of around 7% and that maybe the highest in 12 years

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course, the average FTB has an income of £50K.

per couple

Edited by Bloo Loo

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Complete ********. This only accounts for first time buyers who have already bought a house with a huge deposit. Any normal first time buyer is screwed even before interest rates rise!

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Apart from assuming the FTB has a huge deposit and can access accordingly cheaper mortgages, this report also confuses potential and actual FTB - the figures are based on data they have on actual FTBs. Potential FTBs (ie anyone who has not bought a house previously) is a massively different sample and it would be a fair assumption to say that their pay is lower.

They have also (accidentally I'm sure) confused the average FTB salary with the national average salary and reported FTB mortgage payments as a proportion of national average take home pay.

Sloppy, sloppy Halifax - anyone would think they were trying to ramp the housing market..... ;)

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You'll know the bottom of the market is in when people in their 20s stop walking straight past estate agents as if they were luxury car dealerships.

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They probably are reasonably priced, so long you are looking to buy a rat hole on a sink estate.

I have just spent the holiday period in NW France, and whilst homes are too expensive here, it does put the UK housing stock to utter shame.

The UK is a beautiful country (outside of the cities), but planning regulations mean you are unable to have a decent quality of life. Existing house quality is absolutely pitiful, and building something of quality is totally out of the question unless you are seriously rich.

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http://uk.finance.yahoo.com/news/First-time-buyer-tele-4167606253.html;_ylt=AuiLDGQApcG6Wz79e3N0nPDSr7FG;_ylu=X3oDMTE4Y20waHEzBHBvcwM5BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNmaXJzdC10aW1lYnU-?x=0

First-time buyer affordability best for 12 years
Paul Farrow, 7:32, Wednesday 29 December 2010
Mortgage affordability for those looking to take their first steps onto the property ladder is at its most favourable for 12 years, according to the latest annual Halifax First Time Buyer Review.
The proportion of disposable earnings devoted to mortgage payments by a potential new first time buyer stood at 27pc in September 2010; the lowest since December 1998 and almost half of the peak level of 5pc in September 2007.
Halifax said that this significant improvement in affordability over the past three years has been mainly driven by a combination of lower house prices and declining mortgage rates.

This no doubt accounts for the large number of FTBs buying right now. The market never lies you know.

Trusting the word of a failed bank.

See the HPC section on what the media were saying last time round.

Mortgage rates can only go up, house prices are yet to adjust, and who's going to get a decent wage rise next year.

Weeing in a force 9 gale me thinks.

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it's nice to see how many banks, media etc. have lost credibility. give it some time and this will ripple out beyond the small amount of HPCers then it will accelerate

we aint seen nothing yet

who you going to believe, those who were utterly wrong or those who were right

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  • 285 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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