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rantnrave

Nationwide Aug 18 out Friday 31st morning

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3 hours ago, rantnrave said:

Here's hoping for a meaty fall...

Not the end of the world if it's not.

But I really would like to know who is buying at new peaks  with the bad media reports out there at the moment

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I'm predicting flatline until the Brexit plan that is BRINO is announced and then I predict a rise in GBP/USD and v the EUR, lower inflation, more confidence and wage growth increasing for a time and of course house price inflation. 

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7 hours ago, inbruges said:

Not the end of the world if it's not.

But I really would like to know who is buying at new peaks  with the bad media reports out there at the moment

You're paying the typical house buyer far too much respect if you think they pay any attention at all to issues being reported with the property market, the wider economy, global interest rates, etc etc

 

Most of these idiots don't even bother looking at comparable recent sold prices for their chosen home.

Edited by nome

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I wad thinking about this. What if Nationwide have been told to report the figures more realistic, as then the Tories can then say their new policy is working...

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38 minutes ago, rantnrave said:

-0.5

OK it is something, but all the economic and sentiment indicators are saying you have to be a 100% mug to be chancing so much money in buying property right now. Yes people will say "well some people don't think about cost and just want somewhere to live", which might be a little true. Then I would want to know why Banks and lenders are loaning money to idiots and I would personally suspect they don't mind taking risks because they know forever they will be "too big to fail";

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First time in four months a new peak price hasn't been set.

Demand down and supply up too:

Mortgage lending fell to £3.2bn in July, the lowest figure for 15 months, according to the Bank of England.

http://www.propertyindustryeye.com/mortgage-lending-drops-to-disappointing-level-as-buyer-interest-falls-away/

Mortgage approvals for house purchase dipped to 65,000, while the number of approvals for remortgages fell 5.5% to 45,000.

Estate agent Jeremy Leaf said the figures were disappointing “in that they reflect a period when we would have expected a pick-up in the market over the spring buying season”.

John Eastgate, sales and marketing director at OneSavings Bank, said: “Buyer activity remains pretty depressed as the market comes to terms with economic uncertainty on top of existing obstacles of a lack of supply and increasing affordability challenges.”

Separately, NAEA Propertymark said that in July the number of properties available per estate agency branch rose for the third consecutive month, from an average in 33 in April, to 37 in May, to 39 in June, and to 41 last month.

Measured year on year, this is 17% up on July last year, when agent branches had an average of 35 properties.

While supply rose, demand shrank for a second month running, to 303 applicants per branch. However, the NAEA said this was entirely in line with seasonal trends.

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49 minutes ago, rantnrave said:

Demand down and supply up too

That's the big one for me.

What have I been saying for several weeks now, it has been so noticeable the For Sales signs I have seen going up with few Sold signs. I cover the North Herts, south Cambs area a lot, travel 100's even 1000 miles a week sometimes, there is a big difference, biggest I have seen a decade plus, something is happening

Edited by Guest

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4 minutes ago, inbruges said:

That's the big one for me.

What have I been saying for severak weeks now, it has been so noticeable the For Sales signs I have seen going up with few Sold signs. I cover the North Herts, south Cambs area a lot, travel 100's even 1000 miles a week sometimes, there is a big difference, biggest I have seen a decade plus, something is happening

At last.  They weren't exaggerating with the whole 'oil tanker' simile.  

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11 hours ago, inbruges said:

 

But I really would like to know who is buying at new peaks  with the bad media reports out there at the moment

That would be me. In the process of buying now and expect to exchange contracts in next 2 weeks. I am acutely aware of the fact it is very likely I will lose money at some point on this purchase but so sick of waiting. An opportunity came up to buy a house that we could stay in forever in an area where they don’t often come up for sale.

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27 minutes ago, zugzwang said:

'Affordability challenges.' :rolleyes:

Yes. The tortured language is as satisfying as the negative number. By spring next year their Big Book Of Eupemisms will be falling apart through over-use. Or, should I say, it will having "book sustainability issues."

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My gut tells me, looking at the trend in the final table in the report that there is a stepping down from the 2 - 3% price inflation channel it has been in since Apr-17.  The Sep / Oct / Nov releases have usually been low monthly figures.  ALL of the annual inflation happens in Mar to Jun with the rest of the year being moribund.

 

image.png.b2d124029d713be51790f4c07add9cc3.png.

Edited by ElPapasito

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  • 146 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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