Wednesday, December 12, 2012

Buy – before inflation soars?

Mortgages for first-time buyers rise by nearly a fifth

"Mortgages for first-time buyers jumped by nearly a fifth in October, with banks advancing 20,000 loans worth £2.5bn, the Council of Mortgage Lenders said". (or is it wise to wait for a fall in prices?).

Posted by alan @ 03:46 PM (1518 views)
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2 thoughts on “Buy – before inflation soars?

  • Considering that these improved FTB numbers came out on the same day as better unemployent figures, I cannot help but wonder if this is significant:

    Employment reaches record high in further sign of jobs market resilience

    Unemployment fell by 82,000 between August and October, to 2.51m, the Office for National Statistics said.

    The number of people claiming Jobseeker’s Allowance – considered a more timely measure of unemployment – also fell by 3,000 to 1.58m last month, the figures showed.

    There has been some discussion here in the past about the negative correlation between house prices and unemployment – the idea being that unemployent of about 3 million+ seems to trigger a house price crash.

    This looks bullish for the property market.

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  • richy richless says:

    A fifth of not a lot is still not a lot in relative terms..would be more noteworthy in a normally functioning market..

    Would be interested in the view of Jack_C

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