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Mortgage approvals soared to a 13-year high in September


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It's just not happening TCON:

https://www.zoopla.co.uk/discover/property-news/mortgage-approvals-soared-to-a-13-year-high-in-september/?utm_source=facebook.com&utm_medium=social&utm_campaign=discover&utm_content=features&fbclid=IwAR32MV_HYlLOcfgRxOeqBRaYvgyPMvnwPI7qsNZ60jAtjYyTii7heyQ7Exw

 

Mortgage approvals for house purchases soared to a 13-year high in September as the rush to buy a home in time to benefit from the stamp duty holiday continued.

A total of 91,500 mortgages were given the green light in September, the highest level since September 2007.

 

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It's just not happening TCON:

https://www.zoopla.co.uk/discover/property-news/mortgage-approvals-soared-to-a-13-year-high-in-september/?utm_source=facebook.com&utm_medium=social&utm_campaign=discover&utm_content=features&fbclid=IwAR32MV_HYlLOcfgRxOeqBRaYvgyPMvnwPI7qsNZ60jAtjYyTii7heyQ7Exw

 

Mortgage approvals for house purchases soared to a 13-year high in September as the rush to buy a home in time to benefit from the stamp duty holiday continued.

A total of 91,500 mortgages were given the green light in September, the highest level since September 2007.

 

Interesting date to compare back to, nothing of significance occurred in the financial world after that date did it??

🤔

Edited by Smiley George
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Interesting date to compare back to, nothing of significance occurred in the financial world after that date did it??

🤔

You're right, a lot did happen

Lower interest rates,

Term funding

QE

Help to buy

Tighter lending criteria and affordability assessments. 

The housing market (measured by sales volume) has been massively subdued ever since. I'd not expect these volumes to hold up but if SDLT is held off I would expect the impact on prices to be felt in the longer run. 

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It's just not happening TCON:

https://www.zoopla.co.uk/discover/property-news/mortgage-approvals-soared-to-a-13-year-high-in-september/?utm_source=facebook.com&utm_medium=social&utm_campaign=discover&utm_content=features&fbclid=IwAR32MV_HYlLOcfgRxOeqBRaYvgyPMvnwPI7qsNZ60jAtjYyTii7heyQ7Exw

 

Mortgage approvals for house purchases soared to a 13-year high in September as the rush to buy a home in time to benefit from the stamp duty holiday continued.

A total of 91,500 mortgages were given the green light in September, the highest level since September 2007.

 

Interesting.  This mirrors what people in the industry have been telling me since the first lock down, the market is red hot and shows no sign of slowing yet.

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https://propertyindustryeye.com/new-instructions-and-sales-agreed-remain-positive/

BriefYourMarket.com’s chief commercial officer Richard Combellack:
“When we reach March 2021 and – as it stands right now – both the furlough and stamp duty scheme end, it could be a very bleak time for agents. A recent survey conducted by MoneySuperMarket has suggested that nearly two thirds of prospective buyers are in the market as a result of the holiday, with around 60 percent of those surveyed stating that they would intentionally change their buying plans if the government doesn’t extend the scheme beyond March 2021."

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Yomdel Property Market Sentiment Tracker: https://info.yomdel.com/property-sentiment-tracker

WHAT IS THE SENTIMENT TRACKER?

Since before COVID-lockdown began, we've tracked consumer sentiment, based upon leads generated via Live Chat on property websites. We're only tracking enquiries with a transactional 'intent', ie. to sell, buy, let or rent - a clear indicator of customer desire to get on with business even under COVID-19 restrictions.

We took the average level of leads generated over the 62 weeks prior to lockdown on 23 March 2020, right back to 1 January 2019. That included a fairly dampened market, suffering from Brexit uncertainty, pre-election paralysis and then the Boris Bounce, so a good yardstick for difficult market conditions.

Our graph below, which is updated on a weekly basis, shows the pre-COVID-19 average at 100%, and clearly illustrates the market swings of the previous 15 months, followed by a Coronavirus crash.

Yomdel%20Property%20Sentiment%20Tracker%20-%20081120.png

The following graph looks at the relationship between website visitor volumes, live chat volumes and the volume of leads generated. The data samples over 42 million visitors to estate agent websites from Jan 2019 – 8 November and shows how web traffic to estate agents’ websites (blue line) is 22% higher than the same week last year. The volume of people using live chat (red line) and the numbers of new business leads captured (purple line) are 26% and 21%, respectively, above the same week 2019.

875326712_Yomdel20Property20Website20Tracker20-20081120.thumb.png.c4e5973a3795a046dd51f40656888712.png

 

Edited by rantnrave
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Those are beautiful charts!  

I have noticed a sudden drop off in new listings, and as per another thread a reslisted property (which i never see). I wonder if peoples' dreams are meeting reality - i.e. recession, furlough, redundancy..... banks saying NO.

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  • 439 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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