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“The Housing Market Is Crackling With Electricity At The Moment.”

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House prices rise by £9,000: average value soars to £238,000

The Office for National Statistics said yesterday that the average UK house price in April was £238,000 – up £9,000 from the same month in 2012.

That is further evidence of a resurgent property market. David Newnes, director of LSL Property Services, said: “The housing market is crackling with electricity at the moment.”

He praised the Government’s Help to Buy and Funding for Lending schemes, as well as record low interest rates, for the rise in prices nationwide which are heavily bolstered by London and the South-east. Mr Newnes said: “They have increased the voltage in the mortgage market which has energised first-time buyer lending and sparked the house purchase market back into some sort of life.

“Rates on first-time buyer mortgages have fallen and banks are more willing to lend to borrowers with deposits of 15 per cent or less – borrowers who didn’t have a look-in 12 months ago.

“While lenders are still cautious, they are at least cautiously optimistic, which is good news for prospective buyers.” First-time buyers and soaring prices in London and the South-east are driving the recovery with values up in the capital by an astonishing six per cent.

The express jizzing all over it's pants.

Higher prices it appears energise the first time buyer...

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Higher prices it appears energise the first time buyer...

So would stick your finger in a plug socket.

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It's a pretty big punt to take on a 25-year loan on that type of house price assuming that interest rates won't rise during that period.

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"David Newnes, director of LSL Property Services, said: “The housing market is crackling with electricity at the moment.”

Based on this quotation, I would like to kill him.

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"David Newnes, director of LSL Property Services, said: “The housing market is crackling with electricity at the moment.”

Based on this quotation, I would like to kill him.

Faulty wiring?

I forget, is there an hysteria phase?

Edited by Tonkers

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“They have increased the voltage in the mortgage market which has energised first-time buyer lending and sparked the house purchase market back into some sort of life."

What a bell-end.

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House prices rise by £9,000: average value soars to £238,000

The express jizzing all over it's pants.

Higher prices it appears energise the first time buyer...

Well, there are sales going on, but the idea that prices are more than holding their own/nudging up, is rubbish. LOTS of properties just sitting there month after month and revolving around agents. It's nothing like a frenzy. The FFLS is a moronic policy as is help to buy. The bubble has never deflated from the last time, so the stupid govt wants to put up house prices and forget that its inflation which makes us poorer - but house prices are not in the basket of goods for CPI, so that's handy.

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“They have increased the voltage in the mortgage market which has energised first-time buyer lending and sparked the house purchase market back into some sort of life."

What a bell-end.

:P

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“They have increased the voltage in the mortgage market which has energised first-time buyer lending and sparked the house purchase market back into some sort of life.

and just look where that sort of stuff got Doctor Frankenstein.

Edited by billybong

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  • 238 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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