{"id":562,"date":"2020-06-04T09:30:33","date_gmt":"2020-06-04T09:30:33","guid":{"rendered":"https:\/\/www.shinemortgages.co.uk\/news\/?p=562"},"modified":"2023-08-02T09:21:08","modified_gmt":"2023-08-02T09:21:08","slug":"fall-in-nationwide-house-price-index-fall-brings-mixed-reactions","status":"publish","type":"post","link":"https:\/\/www.shinemortgages.co.uk\/news\/fall-in-nationwide-house-price-index-fall-brings-mixed-reactions\/","title":{"rendered":"Fall in Nationwide House Price Index Fall Brings Mixed Reactions"},"content":{"rendered":"<p>After the spread of the news of house price fall, the <a href=\"https:\/\/www.shinemortgages.co.uk\/news\/uk-mortgage-market-partial-lockdown\/\">UK mortgage market<\/a> is stunned. Again, the cause if corona pandemic. The Bank of England figures that reveal the drop in mortgage lending has left the people with countless uncertainties. However, the current situation has received a mix of emotions in the name of response.<\/p>\n<p>The twitter overflowed with the comments on the situation, provides a mirror image of the minds of the people.<\/p>\n<blockquote><p><strong><em>Some of the twitter comments<\/em><\/strong><\/p><\/blockquote>\n<p>\u201cIf you are stupid enough to buy a house this year, make sure you get at least 20% off the asking price, then another 15% off the agreed price.\u201d<\/p>\n<blockquote><p><strong>\u201cIt\u2019s good news day unless you\u2019re a BTLetster.\u201d<\/strong><\/p><\/blockquote>\n<p>\u201cThough this may seem a dramatic fall, it is not as steep as many had expected and prices remain nearly 2% higher than they were this time last year.\u201d<\/p>\n<p>How differently people have replied to the current situation, and one thing is sure that the revival of the market is not an easy thing.<\/p>\n<p><strong>Some facts describe the severity of the situation in a better manner \u2013 <\/strong><\/p>\n<ul>\n<li>7% of price fall on house prices in May, which is the biggest monthly fall after February 2009.<\/li>\n<li>The sharp decline in mortgage activity. 53% fall in a property transaction in April as compared to April 2019. A profound and drastic change. It is a matter of worry for lenders as well as <a href=\"https:\/\/www.shinemortgages.co.uk\" data-abc=\"true\"><strong>online mortgage brokers<\/strong><\/a>.<\/li>\n<li>Number of mortgage approvals in March were 56,100, and in April it is 15,800.<\/li>\n<\/ul>\n<p>The current situation is nothing but a maze, and the property buyers, lenders, brokers, local agents are trying to find an escape. Time and future conditions of corona pandemic are the two essential factors that will act decisively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the spread of the news of house price fall, the UK mortgage market is stunned. Again, the cause if corona pandemic. The Bank of&#8230;<\/p>\n","protected":false},"author":3,"featured_media":563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[52],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/posts\/562"}],"collection":[{"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/comments?post=562"}],"version-history":[{"count":1,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/posts\/562\/revisions"}],"predecessor-version":[{"id":564,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/posts\/562\/revisions\/564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/media\/563"}],"wp:attachment":[{"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/media?parent=562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/categories?post=562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shinemortgages.co.uk\/news\/wp-json\/wp\/v2\/tags?post=562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}