House Affordability At Near Record Level -- Quick Buy Now Before Its Too Late!

[Realistbear]

http://uk.finance.yahoo.com/news/UK-housing-market-get-tougher-tele-1148940402.html?x=0

UK housing market to get tougher for first-time buyers

Louisa "Weezy" Peacock, 19:59, Sunday 16 January 2011

Housing affordability is at near-record levels, new figures show, However first-time buyers will find it increasingly hard to join the property ladder this year.

Mortgage lending is "tighter now than it was six months ago", an economic consultancy has warned.

The prospect of buying a house will also become more daunting if, as is widely expected, the Bank of England "will start raising interest rates" this year, putting further strain on the cost of living, the consultancy warned.

The latest housing affordability index, published by

Lombard Street Research

(LSR) in conjunction with The Daily Telegraph , shows house prices are at their most undervalued level since the mid-1990s.

Houses may be down 20% from peak but they are not down 60% to where they were before the Brown years of the worst out of control house prices we have ever known. Most sane observers of the market would say that at an average price well north of £170k houses are extremely UNAFFORDABLE for FTBs and most other people on average wages.

What a lod of crap these fools publish thinking they are going to stimulate a dying market.

[maxdiver]

I'm sure their research is correct.

Prices may be higher than before 2004 - but the cost of money is much lower.

If interest rates were to rise, then affordability is reduced.

[Pent Up]

House prices undervalued? You what? Are they talking about low interest rates making mortgage payments lower because there is no way in hell house prices are undervalued!

[lulu]

House prices undervalued? You what? Are they talking about low interest rates making mortgage payments lower because there is no way in hell house prices are undervalued!

Well I am conviced I will be out there tomorrow over bidding for any property that takes my eye - as will any other savvy buyers....

[cica]

Housing affordability is at near-record levels, new figures show, However first-time buyers will find it increasingly hard to join the property ladder this year.

Stupid usage of the word affordable. Got to take EVERYTHING into account to measure affordability.

[Pent Up]

Stupid usage of the word affordable. Got to take EVERYTHING into account to measure affordability.

House are only at record low affordability if you already own one...

[Tiger Woods?]

http://uk.finance.yahoo.com/news/UK-housing-market-get-tougher-tele-1148940402.html?x=0

UK housing market to get tougher for first-time buyers

Louisa "Weezy" Peacock, 19:59, Sunday 16 January 2011

Housing affordability is at near-record levels, new figures show, However first-time buyers will find it increasingly hard to join the property ladder this year.

Mortgage lending is "tighter now than it was six months ago", an economic consultancy has warned.

The prospect of buying a house will also become more daunting if, as is widely expected, the Bank of England "will start raising interest rates" this year, putting further strain on the cost of living, the consultancy warned.

The latest housing affordability index, published by

Lombard Street Research

(LSR) in conjunction with The Daily Telegraph , shows house prices are at their most undervalued level since the mid-1990s.

Houses may be down 20% from peak but they are not down 60% to where they were before the Brown years of the worst out of control house prices we have ever known. Most sane observers of the market would say that at an average price well north of £170k houses are extremely UNAFFORDABLE for FTBs and most other people on average wages.

What a lod of crap these fools publish thinking they are going to stimulate a dying market.

Does anyone ever swallow this crap?

[billybong]

Housing's now having to compete walletwise with all the other essentials. Petrol has never been so expensive, lots of food has gone up in price by 20% "because of the VAT increase" (they will say anything and oh yes I so believe 'em ), public transport, clothing is getting more and more expensive and as for heating costs just to keep warm - you mention it it's gone up and likely their tax take "innovation" has hardly got into first gear.

Yeah rush out and buy a house because it's so "at record levels of affordability", feel lucky. No thanks.

For example if there was ever a time for downsizing to get into affordable housing and saving on heating and helping with all the other costs of living etc it's right now.