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1.7M 'plan To Use Help To Buy In The Next Year'

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Telegraph 4/10/13

' More than 5 million Britons believe they will buy a house in the next 12 months and a third of those intend to use the Government’s Help to Buy scheme, according to new research by Santander.

The research showed 10pc of the UK population – 5.1 million people – say they are likely to buy a house in the next year. This is up from 8pc, or 3.7 million people, in January 2012. If all these people followed through on their intentions, housing transactions would soar to five times their current levels.

By region, Londoners are the most confident about their chances of purchasing a home in the next 12 months, with one in five believing it is likely they will do so. At the other end of the scale, only 2pc of those in Wales think they are likely to buy a new property in the next 12 months.

Of those who are likely to buy a home this year, a third are first time buyers, while a third are already homeowners and intend to move. A further 13 per cent will be buying an additional property to the one they already own and 11 per cent plan to invest in a buy-to-let property. '

While confidence in the housing market is improving, separate research by national charity Family Action and Lloyds Banking Group's Money for Life programme reveals families are at risk of spiralling into debt due to the unexpected costs of moving into and maintaining their homes.

The research shows people were not prepared for how expensive it was to buy and maintain a home.

A quarter of Britons said removal costs came as a financial shock, while a quarter were unprepared for the costs of buying new furniture and 23pc considered the cost of essential household items such as fridges, washing machines and cookers to be surprisingly expensive.

Almost 60pc of Brits claim the state of their homes has either worsened or stayed the same over the past five years. One in 12 has spent nothing at all on maintenance or household items over the past year.

Perhaps more worryingly, 21pc feel they cannot actually afford what they have spent on the general upkeep of their home in the last year. '

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http://www.express.co.uk/news/property/434187/House-prices-rising-at-their-fastest-rate-for-three-years

House prices rising at their fastest rate for three years

HOUSES are almost £11,000 more expensive than they were a year ago after prices last month hit their highest level for five years.

..

Alexander Gosling, director of online estate agent Housesimple.co.uk, said: “6.2 per cent is a big number and not far off the growth rates we all got used to, pre-crash. The property market overall is far stronger than a year ago as consumers, starved of mortgages for so long, are piling back in now that loans are accessible and cheap.”

The Express back on form celebrating that house prices are more expensive...

http://www.express.co.uk/news/property/434182/Help-to-Buy-property-scheme-set-to-be-used-by-1-6m-people

Help to Buy property scheme set to be used by 1.6m people

MORE than a million home buyers could flock to the property market thanks to the Government’s Help To Buy scheme, figures indicate.

Of 5.1 million people planning to buy a home in the next year, 1.6 million say they will use the scheme.

So there's 5.1m people planning to buy a home, they must have pulled a few numbers out of a hat to come up with this figure... Is there money to fund 1.6m to use the scheme?

From Progaganda Thread

The Express only went for 1.6m, where's the extra 100,000 come from?

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Telegraph 4/10/13

' More than 5 million Britons believe they will buy a house in the next 12 months and a third of those intend to use the Government’s Help to Buy scheme, according to new research by Santander.

The research showed 10pc of the UK population – 5.1 million people – say they are likely to buy a house in the next year. This is up from 8pc, or 3.7 million people, in January 2012. If all these people followed through on their intentions, housing transactions would soar to five times their current levels.

By region, Londoners are the most confident about their chances of purchasing a home in the next 12 months, with one in five believing it is likely they will do so. At the other end of the scale, only 2pc of those in Wales think they are likely to buy a new property in the next 12 months.

Of those who are likely to buy a home this year, a third are first time buyers, while a third are already homeowners and intend to move. A further 13 per cent will be buying an additional property to the one they already own and 11 per cent plan to invest in a buy-to-let property. '

While confidence in the housing market is improving, separate research by national charity Family Action and Lloyds Banking Group's Money for Life programme reveals families are at risk of spiralling into debt due to the unexpected costs of moving into and maintaining their homes.

The research shows people were not prepared for how expensive it was to buy and maintain a home.

A quarter of Britons said removal costs came as a financial shock, while a quarter were unprepared for the costs of buying new furniture and 23pc considered the cost of essential household items such as fridges, washing machines and cookers to be surprisingly expensive.

Almost 60pc of Brits claim the state of their homes has either worsened or stayed the same over the past five years. One in 12 has spent nothing at all on maintenance or household items over the past year.

Perhaps more worryingly, 21pc feel they cannot actually afford what they have spent on the general upkeep of their home in the last year. '

Hmm, chicken or egg? Is it possible to use HTB2 while having a place to sell? If this report is in any way accurate(!) looks like a supply surge will be in the offing. Will it be matched by buyers though.

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Telegraph 4/10/13

' More than 5 million Britons believe they will buy a house in the next 12 months and a third of those intend to use the Government's Help to Buy scheme, according to new research by Santander.

The research showed 10pc of the UK population – 5.1 million people – say they are likely to buy a house in the next year. This is up from 8pc, or 3.7 million people, in January 2012. If all these people followed through on their intentions, housing transactions would soar to five times their current levels.

By region, Londoners are the most confident about their chances of purchasing a home in the next 12 months, with one in five believing it is likely they will do so. At the other end of the scale, only 2pc of those in Wales think they are likely to buy a new property in the next 12 months.

Of those who are likely to buy a home this year, a third are first time buyers, while a third are already homeowners and intend to move. A further 13 per cent will be buying an additional property to the one they already own and 11 per cent plan to invest in a buy-to-let property. '

While confidence in the housing market is improving, separate research by national charity Family Action and Lloyds Banking Group's Money for Life programme reveals families are at risk of spiralling into debt due to the unexpected costs of moving into and maintaining their homes.

The research shows people were not prepared for how expensive it was to buy and maintain a home.

A quarter of Britons said removal costs came as a financial shock, while a quarter were unprepared for the costs of buying new furniture and 23pc considered the cost of essential household items such as fridges, washing machines and cookers to be surprisingly expensive.

Almost 60pc of Brits claim the state of their homes has either worsened or stayed the same over the past five years. One in 12 has spent nothing at all on maintenance or household items over the past year.

Perhaps more worryingly, 21pc feel they cannot actually afford what they have spent on the general upkeep of their home in the last year. '

The more sheeple that just saturate themselves with debt the better, the eventual bust will be deeper and last longer, PLENTY of time for the debt free cash rich to look for real bargains, although I have my doubts about the interest level HTB will attract, most people are already in the Ponzi or living at home/trying to downsize? Can`t really see the big numbers materialising.

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Well, Grant Shapps said on Question Time there wouldn't be a bubble because HTB2 would cover less than 20,000 people a year!

EDIT "fewer than" - keep forgetting!

Edited by oldsport

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http://www.express.co.uk/news/property/434187/House-prices-rising-at-their-fastest-rate-for-three-years

The Express back on form celebrating that house prices are more expensive...

http://www.express.co.uk/news/property/434182/Help-to-Buy-property-scheme-set-to-be-used-by-1-6m-people

So there's 5.1m people planning to buy a home, they must have pulled a few numbers out of a hat to come up with this figure... Is there money to fund 1.6m to use the scheme?

From Progaganda Thread

The Express only went for 1.6m, where's the extra 100,000 come from?

How many people did this survey involve ? if they got a figure of 5million planing to by

This is all starting to feel to much like 2007 the ramping and desperation is every where

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Guest eight

Almost 60pc of Brits claim the state of their homes has either worsened or stayed the same over the past five years. One in 12 has spent nothing at all on maintenance or household items over the past year.

Perhaps more worryingly, 21pc feel they cannot actually afford what they have spent on the general upkeep of their home in the last year. '

No excrement Sherlock. I look at the people around me and honestly cannot say how Britain is still functioning. I'm utterly, utterly baffled by the signs of apparent wealth and the ability of people even to obtain sufficient credit to pay for big ticket items, let alone ever pay it back. The whole stinking edifice must be teetering on a knife edge every minute of every day.

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How many people did this survey involve ? if they got a figure of 5million planing to by

This is all starting to feel to much like 2007 the ramping and desperation is every where

Yep, I am starting to feel pretty confident that they won`t make it to the election without some big outside event that pisses on their party. Is the US leading the way towards some sort of global default and re-set?

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The research showed 10pc of the UK population – 5.1 million people – say they are likely to buy a house in the next year. This is up from 8pc, or 3.7 million people, in January 2012. If all these people followed through on their intentions, housing transactions would soar to five times their current levels.

"If all these people followed through on their intentions" being the nub of the matter.

Apparently the number of houses sold in 2006 and near the peak was about 1.7 million.

http://

www.

thisismoney.co.uk/money/mortgageshome/article-2091110/UK-house-sales-fell-11k-year-lowest-totals-record-HMRC-reveals.html

In 2006 nearly 1.7million homes were sold, and in 2007 house sales were hovering just over the 1.6million mark.

So the figures from the telegraph link seem well beyond incredible but if true then Carney had better start to use "the powers" (the so far undisclosed powers) given to him by Cameron, Osborne, Clegg and Cable to stop the craziness before it gets out of hand..

Edited by billybong

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From the telegraph link.

The research showed 10pc of the UK population – 5.1 million people –

So the UK population must have dropped to 51 million.

That's a huge and sudden drop in population.

So UK people can expect to experience far less congestion in the malls and on the roads etc.

Edited by billybong

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No excrement Sherlock. I look at the people around me and honestly cannot say how Britain is still functioning. I'm utterly, utterly baffled by the signs of apparent wealth and the ability of people even to obtain sufficient credit to pay for big ticket items, let alone ever pay it back. The whole stinking edifice must be teetering on a knife edge every minute of every day.

Agreed. Even with a 0.5% base rate household debt/GDP is back up around 150% thanks to HTB1, about where it was at the beginning of 2006, ~20% off the 2007 peak. But wages have declined ave. 9% in real terms since then so by that metric at least affordability is more constrained. And then there's the interest on the national debt quietly compounding in the background...

A base rate hike of 1.25% between mid-2006 and mid-2007 was sufficient to collapse the market last time round. I don't believe it will need so much as a 1% move to do this same this time. The only question for me is whether Osborne and Carney can hold the shit show together until 2015.

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If someone wanted to really stoke the anti-HTB fire then all it needs is one of those political cartoons showing Cameron and Osborne throwing money into a pit labeled "house prices" and police stations, hospitals and schools closed down, whilst set on fire.

Unfortunately I suck at drawing but I imagine itd make the MSM.

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I (we) have called the top many times and been wrong. This has to be the "return to normal" phase. The ramping and delusion has now hit the same heights as just before the bubble.

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Guest

No excrement Sherlock. I look at the people around me and honestly cannot say how Britain is still functioning. I'm utterly, utterly baffled by the signs of apparent wealth and the ability of people even to obtain sufficient credit to pay for big ticket items, let alone ever pay it back. The whole stinking edifice must be teetering on a knife edge every minute of every day.

I know! I see people a bit younger than me (I'm mid 30s ish) driving around in new cars, or with shopping trollies piled high with branded goods.... how the f*** are they paying for all this stuff?

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It's gone from double dip to outright boom so quickly the UK media could be in the euphoria phase before we know it.

Maybe some reality will emerge around Christmas before the next round of ramping gets underway.

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"If all these people followed through on their intentions" being the nub of the matter.

Apparently the number of houses sold in 2006 and near the peak was about 1.7 million.

So the figures from the telegraph link seem well beyond incredible but if true then Carney had better start to use "the powers" (the so far undisclosed powers) given to him by Cameron, Osborne, Clegg and Cable to stop the craziness before it gets out of hand..

Ok, so from that I conclude that the article is nonsense and not even worthy of a thread, they just made up any desperate nonsense to appeal to the "follow the leader" mentality? It will be gratifying to watch HTB being crushed by events in Asia, US and Europe...hopefully :P

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I (we) have called the top many times and been wrong. This has to be the "return to normal" phase. The ramping and delusion has now hit the same heights as just before the bubble.

+1

It's looking very like it.

classic-phases-of-an-economic-bubble.jpg

Edited by billybong

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I know! I see people a bit younger than me (I'm mid 30s ish) driving around in new cars, or with shopping trollies piled high with branded goods.... how the f*** are they paying for all this stuff?

30 year olds are much wealthier than you think.

Look at this Express picture of an average young couple standing in front of an average young couple's home:

Express041013.jpg

http://www.express.co.uk/news/property/433879/Help-to-buy-schemes-what-you-need-to-know

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Guest eight

30 year olds are much wealthier than you think.

Look at this Express picture of an average young couple standing in front of an average young couple's home:

Express041013.jpg

http://www.express.co.uk/news/property/433879/Help-to-buy-schemes-what-you-need-to-know

He's a retail manager. She's a teaching assistant. Combined they bring in £45K, and they're doing well by a lot of measures. That house costs £1.5M. What is wrong with this picture?

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He's a retail manager. She's a teaching assistant. Combined they bring in £45K, and they're doing well by a lot of measures. That house costs £1.5M. What is wrong with this picture?

Tell you what, I'd take out a liar loan if it meant slipping through that front door.

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Am I being daft but to come up with this figure wouldn't they have actually had to ask everybody in the UK?

They didn't ask me.

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