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AteMoose

Jan -> March 2003

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I have been looking at transaction qtys and have noticed this period is double what it should be. What happened in this qtr to cause twice the number of people as normal to buy a house?

Edited by moosetea

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I have been looking at transaction qtys and have noticed this period is double what it should be. What happened in this qtr to cause twice the number of people as normal to buy a house?

Something in the water? :o

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http://news.bbc.co.uk/1/hi/business/2732645.stm

The BOE supprised the uk and dropped the interest rates by .25%, looking at transactions it had a massive effect on sentiment, and twice as many people bought a house in this qtr.

"This is one of the biggest gambles any central banks has done - cutting rates when house price inflation is close to 30% and inflation is already above target," said John Butler, UK economist at HSBC.

"It is true to say [the Bank is] playing with fire."

Fire is an understatement, this cut had a huge affect, and IMO gave this bubble the omph to continue to today.....

Edited by moosetea

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Lots of uncertainty (political / economic) in early 2002.

Early 2003 was effectively a double spring bounce taking advantage of the ridiculously low interest rates.

How can we forget our recent past so quickly?

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http://news.bbc.co.uk/1/hi/business/2732645.stm

The BOE supprised the uk and dropped the interest rates by .25%, looking at transactions it had a massive effect on sentiment, and twice as many people bought a house in this qtr.

Fire is an understatement, this cut had a huge affect, and IMO gave this bubble the omph to continue to today.....

hi, nulab's spin machine also let it be known there would be more cuts later in 2003, just in case the economy got jittery over the iraq invasion, and all those wmds.

ellenmyfanwy

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Lots of uncertainty (political / economic) in early 2002.

Early 2003 was effectively a double spring bounce taking advantage of the ridiculously low interest rates.

How can we forget our recent past so quickly?

Exactly... the anticipation of the Iraq invasion was at its highest in Q4 and there was talk that the housing market was about to crash (plus ca change).

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  • 301 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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