Mortgage approvals strong in July

[thunderlizard]

I would read this expert advice first:

Expert advice

...and then draw your own opinions.

"There is a one in five chance of a UK house price crash over the next two years, a leading economist warned."
...
"He said prices could fall by as much as 10% in the 18 months from the beginning of next year."

A 1 in 5 chance of a 10% drop? Excuse me if I don't wet myself in sheer panic.

[BlasterBates]

Read the more up-to-date expert opinion

more up-to-date opinion

[thunderlizard]

Well that one does at least have some nice graphs. I admit housing is a more speculative market than it was 20 years ago, but it's still demographically-driven in a way that market data charts don't account for.

I still think it's a new spin on an old story. For the past 7 years' worth of doommongering:
http://news.google.co.uk/archivesear...Archives&hl=en

[sasguru]

Fact is no-one knows, least of all the so-called economic "experts". Use your common sense.

[thunderlizard]

How true

Nobody knows why Elvis threw it all away
Nobody knows what Ruby had to hide
Nobody knows why some of us get broken hearts
And some of us find a world that's clear and bright
You could be packed up and ready
Knowing exactly where to go
How come you miss the connection?
No use in asking...the answer is nobody knows

[Troll]

do people think that a >£200k mortgage is way above the norm?

I'm looking to move from my first place to a 3 bed house and it's quite a sizeable jump.

The jump from a 3 bed semi to 4 bed detached is imho the biggest jump

If you are going to a 3 bed detached I would suggest you think again