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exiges

Mortgage Approvals Down 18% Yoy

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This month approvals have dropped 18% YoY

35,700 last year

29,400 this year

By contrast, June 2007 showed 75,000 approvals.

http://www.bba.org.uk/media/article/april-2011-figures-for-the-main-high-street-banks/latest-news/

"Individuals and businesses continue to save more, pay off debt and borrow less as uncertainty about the economy has entrenched a 'wait and see' attitude. However, banks are still able to meet the need for home loans even though demand remains weak. Businesses - SMEs in particular - are using cashflow and deposits to fund expenditure rather than taking on more borrowing.”

In March they dropped by "only" 11%

http://www.housepricecrash.co.uk/forum/index.php?showtopic=161384

Edited by exiges

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-18% YoY is huge! :D

Although I'm sure it was the royal wedding, Easter and good weather what dun it...

Don't forget the snow, the Japanese tsunami, and the Icelandic volcano (both of them!)

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Don't forget the snow, the Japanese tsunami, and the Icelandic volcano (both of them!)

All these extra bank holidays are disrupting people's normal routine.

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Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month :o

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Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month :o

Which just beggars belief that Rightmove are showing prices +6% this year.

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Don't forget the snow, the Japanese tsunami, and the Icelandic volcano (both of them!)

Plus a dangerous looking leaf and the knife wielding leprechaun that stalks the housing market.

Lets face it, the supplies of suckers is at an all time low, even on this island of dreamers...

Edited by MrFlibble

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Lets face it, the supplies of suckers is at an all time low, even on this island of dreamers greedy swines...

And falling, we've just about used them all up. What next I wonder.

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What's the actual transaction level like? I'm in reading and supply isn't growing and places are selling. There must be more cash than sense out there.

Transaction levels (Land Reg) are back to Depression levels a la Q1/2 2009.

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Apr 2011 29k, Apr 10 36k, Apr 09 31k, Apr 08 35k, Apr 07 63k Trend?

:D

Although it could be that the BBA members are losing Market share. I'm not sure which banks are members and which are not.

I prefer BOE approvals as at least the use all approvals across all banks.

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Speculation of interest rates rising won't help. either When people expect it to be soon and don't need to move they just sit twiddling there thumbs waiting. Best to get it done with.

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Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month :o

It would be interesting to see a price breakdown.

The previous month may have been skewed by the million pound house tax changes bringing transactions forward.

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Good news for house prices. When there is no market left at all, people will be able to advertise whatever prices they like, with no transactions to spoil their delusion.

:D:D Excellent. :P

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I think it's firmly the "Delusion gap" that is causing this huge drop in transactions. Vendors are still sticking their properties on at top prices and refusing to drop significantly, and buyers won't or can't buy at those inflated prices. The delusion gap is huge at the moment - the ratio of rightmove/halifax is as high as it has ever been.

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  • 312 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
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