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This property bubble ain't bursting is it?
Not if but when.
When feels like a way off though, short of acts of god.
Howard-
this year will be interesting to see how a couple of regulations from last year affect things,
- the Mortgage Market Review (MMR) which came into effect Apr'14
(which includes the need for lenders to stress-test mortgage repayment affordability)
- BofE Financial Policy Committee statement on housing market powers of Direction from its policy meeting, 26 September 2014
from speaking with one high street lender, the jist of the regulatory changes / guidance from last year for them seems to be that there's now a maximum loan-to-value ratio in place of 4.5 times (where before there was none), which prevents us first-time buyers un-sensibly bidding-up house prices beyond our affordability!
- the Mortgage Market Review (MMR) which came into effect Apr'14
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Missus was poking around and our place is effectively £40k more than last time I looked maybe 6 months ago. This is great except that means all the bigger places I want are also going to be more fucking expensive. This property bubble ain't bursting is it?