maffo in oxford Posted November 9, 2020 Share Posted November 9, 2020 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. Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 9, 2020 Share Posted November 9, 2020 Unsurprising. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted November 9, 2020 Share Posted November 9, 2020 (edited) 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 November 9, 2020 by Smiley George Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted November 9, 2020 Share Posted November 9, 2020 Mortgage approvals for house purchases soared to a 13-year high in September... They must be right, and know massive increases in unemployment are only scurrilous rumours with little truth. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 9, 2020 Share Posted November 9, 2020 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. Quote Link to comment Share on other sites More sharing options...
Martin_JD Posted November 9, 2020 Share Posted November 9, 2020 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. Quote Link to comment Share on other sites More sharing options...
Patfig Posted November 10, 2020 Share Posted November 10, 2020 Mortgage approvals soar along with unemployment, I love irony. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 10, 2020 Share Posted November 10, 2020 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." Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 10, 2020 Share Posted November 10, 2020 (edited) 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. 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. Edited November 10, 2020 by rantnrave Quote Link to comment Share on other sites More sharing options...
user not found Posted November 10, 2020 Share Posted November 10, 2020 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Share Posted November 10, 2020 Hooray. Quote Link to comment Share on other sites More sharing options...
maffo in oxford Posted November 11, 2020 Author Share Posted November 11, 2020 Charts showing a decline in everything but the nominal price of housing, and declaring it as some sort of victory..... You couldn't make it up! 😂 Quote Link to comment Share on other sites More sharing options...
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