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neon tetra

Rightmove +2.1% Mom, +0.4% Yoy

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....far less than all the inflation rates then inc the new experimental ones..........means house prices are in effect falling, however you look at it, or manipulate it. ;)

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House prices hit record high for April, rejoices Rightmove, adding "selling v asking price gap narrowed...sign of recovering market...expect May to be even better" Hurrah! We need more debt now for a roof over our head! Hurrah hurrah hurrah!

http://www.dailymail.co.uk/news/article-2309174/House-prices-hit-record-high-April---London-place-went-down.html?ito=feeds-newsxml

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Over the weekend a friend announced they are going to take advantage of the government mortgage scheme; rather annoyingly it looks like the government’s plan to further inflate house prices as a way to make the economic figures look good is going to work.. oh well, I guess we will have to wait at least another three to four years for a crash now..

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This has been my experience too. Last year it seemed I was close to being finally able to own a place to live. Now this miserable government has forced up house prices. Seems they have housing investments and instead of moving them when prices fall they decided to abuse their position and force up living costs. Britain is surely one of the worst places in the world to live.

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Over the weekend a friend announced they are going to take advantage of the government mortgage scheme; rather annoyingly it looks like the government's plan to further inflate house prices as a way to make the economic figures look good is going to work.. oh well, I guess we will have to wait at least another three to four years for a crash now..

not 100% sure how the scheme is going to inflate prices?

the issue was that people couldnt save the deposit for current prices....so the government and many Local Authorities have for years offered schemes to "help" people take on the required debt.

The scheme requires the banks lend on their normal criteria...so your pal wont be able to take on more debt than he could before...but, he now has a deposit to repay....and if not paid back in 5 years, that repayment is going to start rising very fast indeed.

If anything, these schemes will help as many people as the LA schemes were...ie, its headline news when they find ONE couple helped.

What they do do though is support current prices....but only if they can find enough people that qualify for the "help".

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The scheme requires the banks lend on their normal criteria

Do you really believe the criteria won't be loosened? The pressure on the banks to loosen lending will be immense.

Also, this max figure of £600k house value has been bothering me - why that figure? £500k would make sense due to the stamp duty threshold. I therefore expect the upper stamp duty band to be moved from £500k to £600k at the next budget (or interim review), giving a very quick pre-election boost to the market.

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Wow 2.1 mom, 25% pa, fascinating to see how long they can keep the props in place if that sort of price inflation materialises, victims of their own success ?

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Do you really believe the criteria won't be loosened? The pressure on the banks to loosen lending will be immense.

Also, this max figure of £600k house value has been bothering me - why that figure? £500k would make sense due to the stamp duty threshold. I therefore expect the upper stamp duty band to be moved from £500k to £600k at the next budget (or interim review), giving a very quick pre-election boost to the market.

they cant loosen without falling into the wrath of laws passed several years ago...the FSA will get them....

on second thoughts, the FSA ( or whatever they are called now) will be like being mauled by a sheep.

on third thoughts, the FLS has failed, Council schemes are inconsequential, and home buy has been around since forever.

Add in the noises from Europe about wealth tax on homeowners......

we seem to be at some form of change of sentiment.....return to normal is maybe changing to fear?

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they cant loosen without falling into the wrath of laws passed several years ago...the FSA will get them....

on second thoughts, the FSA ( or whatever they are called now) will be like being mauled by a sheep.

on third thoughts, the FLS has failed, Council schemes are inconsequential, and home buy has been around since forever.

Add in the noises from Europe about wealth tax on homeowners......

we seem to be at some form of change of sentiment.....return to normal is maybe changing to fear?

Hence the government attempts to stop prices falling too quickly and the constant media ramping.

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Sometimes you just have to pinch yourself.

April house prices hit record high, screams the Telegraph. dry.gif

http://www.telegraph.co.uk/finance/personalfinance/houseprices/9993791/April-house-prices-hit-record-high.html

House-sellers have raised the average asking price by 2.1pc to £244,706, setting a new record for this time of year, according to the Rightmove property website. Prices have risen by £15,717 since the start of the year, and are just £1,500 behind June 2012’s record high.

The gap between householders’ asking prices and actual selling prices has also narrowed, as buyers find it easier to get loans, while there are also more would-be buyers.

The biggest jump in house prices was in East Anglia, where the typical asking figure jumped 4.4pc to £224,538.

London was the only region to see a fall, although even with a 0.5pc drop to £493,635, house prices in the capital were still more than 6pc higher than they were a year ago.

House price record for April, barks the Mail. :angry:

http://www.dailymail.co.uk/news/article-2309174/House-prices-hit-record-high-April---London-place-went-down.html

Miles Shipside, director of Rightmove, said: “With London prices pausing for breath this month but likely to bounce back next, May looks like an odds-on bet to deliver a new asking price record.

'More estate agents are reporting more activity in more segments of the market.'

The year has got off to a promising start for house sellers, with asking prices now £15,717 or 6.9% higher than they were at the start of 2013, following monthly price increases for every month of the year so far.

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Shipside spinning like a top. Y-o-y falling, and a lower monthly rise than the same month last year. And his comedy delusion index..comparing LR figures to FINAL asking price Maybe they'll be changing their index to reflect the drops in asking price too? No thought not.

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The government can't force up the market.

Banks simply aren't going to lend to people if they don't think they'll get the money back.

Given the public's attitude toward Fred The Shred, bank CEOs are looking at the numbers and don't want to become the next person the public blame for a bank failure.

Besides, most banks are already struggling under the weight of distressed debtors.

Most banks are offering good deals to low risk low LTV customers, and looking to encourage their higher risk customers to f*ck off and bank somewhere else.

Put simply, there is plenty of lending going on, but only to quality customers.

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The government can't force up the market.

Banks simply aren't going to lend to people if they don't think they'll get the money back.

Given the public's attitude toward Fred The Shred, bank CEOs are looking at the numbers and don't want to become the next person the public blame for a bank failure.

Besides, most banks are already struggling under the weight of distressed debtors.

Most banks are offering good deals to low risk low LTV customers, and looking to encourage

their higher risk customers to f*ck off and bank somewhere else.

Put simply, there is plenty of lending going on, but only to quality customers.

And falling mortgage approvals in a market awash with cheap credit is testament to this. You can take a horse to water and all that.

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The government can't force up the market.

Banks simply aren't going to lend to people if they don't think they'll get the money back.

Given the public's attitude toward Fred The Shred, bank CEOs are looking at the numbers and don't want to become the next person the public blame for a bank failure.

Besides, most banks are already struggling under the weight of distressed debtors.

Most banks are offering good deals to low risk low LTV customers, and looking to encourage their higher risk customers to f*ck off and bank somewhere else.

Put simply, there is plenty of lending going on, but only to quality customers.

The highest quality customers are cash buyers and hence don't need loans. We're waiting for value though ;).

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Still positive.

I caved in after being on here since 2004 and bought again in December 2009 - best decision for me.

Interest on the mortgage is far lower than what the rent would be.

I still don't think we're at the low point of the slow adjustment (not crash)

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  • 241 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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