exiges Posted May 25, 2011 Share Posted May 25, 2011 (edited) 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 May 25, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 25, 2011 Share Posted May 25, 2011 -18% YoY is huge! Although I'm sure it was the royal wedding, Easter and good weather what dun it... Quote Link to comment Share on other sites More sharing options...
Lepista Posted May 25, 2011 Share Posted May 25, 2011 -18% YoY is huge! 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!) Quote Link to comment Share on other sites More sharing options...
'Bart' Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
hedgefunded Posted May 25, 2011 Share Posted May 25, 2011 And.....y Murray losing again. Quote Link to comment Share on other sites More sharing options...
NEO72 Posted May 25, 2011 Share Posted May 25, 2011 Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month Quote Link to comment Share on other sites More sharing options...
exiges Posted May 25, 2011 Author Share Posted May 25, 2011 Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month Which just beggars belief that Rightmove are showing prices +6% this year. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted May 25, 2011 Share Posted May 25, 2011 (edited) 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 May 25, 2011 by MrFlibble Quote Link to comment Share on other sites More sharing options...
montesquieu Posted May 25, 2011 Share Posted May 25, 2011 Wrong kind of holidays it would seem. Quote Link to comment Share on other sites More sharing options...
_w_ Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 25, 2011 Share Posted May 25, 2011 And falling, we've just about used them all up. What next I wonder. Printy printy? Quote Link to comment Share on other sites More sharing options...
mentholist Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
_w_ Posted May 25, 2011 Share Posted May 25, 2011 Printy printy? Not getting into the right hands. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 25, 2011 Share Posted May 25, 2011 Can someone put today's news into context with the 2008/09 lows. I get confused between approvals, BBA figures etc. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted May 25, 2011 Share Posted May 25, 2011 Apr 2011 29k, Apr 10 36k, Apr 09 31k, Apr 08 35k, Apr 07 63k Trend? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 25, 2011 Share Posted May 25, 2011 Apr 2011 29k, Apr 10 36k, Apr 09 31k, Apr 08 35k, Apr 07 63k Trend? 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. Quote Link to comment Share on other sites More sharing options...
Gerinako Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted May 25, 2011 Share Posted May 25, 2011 Unless I'm very much mistaken, the unseasonally adjusted figures are actually over 20% down since last April and 18% down on last month 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. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 25, 2011 Share Posted May 25, 2011 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. Excellent. Quote Link to comment Share on other sites More sharing options...
Van Posted May 25, 2011 Share Posted May 25, 2011 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. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 25, 2011 Share Posted May 25, 2011 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. PMSL. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 25, 2011 Share Posted May 25, 2011 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... Excellent way of putting it. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 25, 2011 Share Posted May 25, 2011 Are the bbc on this yet? Quote Link to comment Share on other sites More sharing options...
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