Baileys Bust. Money and Credit – February 2023 . To Far to Fast. . Can you tell what it is yet?

Baileys Bust. Money and Credit – February 2023 . To Far to Fast. . Can you tell what it is yet?

Baileys Bust. Money and Credit – February 2023 . To Far to Fast. . Can you tell what it is yet?

Sound effect from ♯ Radio Show Sounds.

Source: Sound clip: ‘Rolf Harris Can You Tell What It Is Yet’

Test repost

Published on 29 March 2023

United Kingdom Mortgage Lending

Home Loans in the United Kingdom decreased to 740 GBP Million in February from 2540 GBP Million in January of 2023. source: Bank of England

“Usura” Pounding at the open door, Canto’s to Cantons to contagion to Oblivion. USURY HELL´S FUEL MANS OPPRESSOR , BOURGEOIS RESOLUTION, AND GLOBALISATION UN ENTANGLED.

Sound effect from ♯ Radio Show Sounds.

Source: Sound clip: ‘Rolf Harris Can You Tell What It Is Yet’

Rate hikes have been going too far and too fast to be explained by the likely trajectory of inflation in the medium-term. #BaileysBust #GoingDirectParadigm #surveillencecapitalism #Aadhaar

Instant Info – Bank of England Gross & Net Lending

Executive Summary Updated 21 March 2023

https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above/uk-monthly-property-transactions-commentary

Towards the end of last year mortgage and interest rates increased and we are starting to see the impacts of those changes within these statistics. Seasonally adjusted residential property transactions appear depressed, indicating a slowing of the housing market.

About this release

These HM Revenue and Customs (HMRC) National Statistics provide monthly provisional estimates of residential and non-residential property transactions in the UK and its constituent countries.

These statistics are based upon records by HMRC, Revenue Scotland and the Welsh Revenue Authority (WRA) for Stamp Duty Land Tax (SDLT), Land and Buildings Transaction Tax (LBTT) and Land Transaction Tax (LTT) respectively.

The latest release was published 09:30am 21 March 2023 and was updated with provisional data from completed transactions during February 2023. The next release will be published 09:30am 21 April 2023 and will be updated with provisional data from completed transactions during March 2023.

The ‘Monthly property transactions completed in the UK with value of £40,000 or above’ statistical release is Crown Copyright. The information can be used as long as the source is clearly described.

The data within these HM Revenue and Customs (HMRC) statistics does not necessarily reflect the current strength of the housing market, because they represent completions which are on average two to four months after an initial offer is made on a property.

Coronavirus (COVID-19)

On 23 March 2020 the UK government announced a UK wide lockdown, including restrictions for the property market. These restrictions were then gradually removed during the summer of 2020.

Following this first lockdown, the UK government introduced several more regional and national lockdowns in England, the last of which ended on 19 July 2021. The housing market in England remained active during all but the first lockdown.

The levels of current monthly property transactions are similar to, but slightly lower than, those in early 2020, before the coronavirus (COVID-19) pandemic. The number of residential property transactions in the year to date are significantly lower than those in early 2022. The pattern of transactions around this time was heavily affected by the pandemic and temporary reductions in stamp duty.

The latest statistics

The latest statistics section provides information on UK residential and non-residential transactions during the previous 3 years. To demonstrate any underlying trends within the data, seasonally adjusted transactions estimates are provided alongside non-seasonally adjusted estimates.

Caution is advised when interpreting estimates for the latest month due to their provisional status. This is because they are based upon incomplete data as not all SDLTLBTT and LTT returns are received by HMRC, Revenue Scotland and WRA when figures are compiled.

We therefore expect statistics to be revised in future months, although transactions figures generally settle after approximately 3 months.

Figure 1: Non-seasonally adjusted and seasonally adjusted UK residential property transactions by month between February 2020 and February 2023.

Figure 1 demonstrates the following trends for UK residential transactions:

  • UK residential transactions have generally been stable in recent months, but we are now starting to see a decline in the numbers of transactions.
  • Residential transactions are marginally lower than pre-coronavirus, for example the provisional non-seasonally adjusted estimate in February 2023 is 76,920 compared to 82,830 in February 2020.
  • During the spring of 2020 there were substantial decreases in property transactions due to the coronavirus pandemic. UK residential transactions gradually increased in subsequent months, alongside large peaks in March, June, and September 2021 caused by temporarily increased nil rate bands of SDLTLBTT, and LTT

Figure 2: Non-seasonally adjusted and seasonally adjusted UK non-residential property transactions by month between February 2020 and February 2023.

Figure 2 demonstrates the following trends for UK non-residential transactions:

  • Non-residential transaction figures appear to be rising, with non-seasonally adjusted transactions for February at 8,710, compared to January’s 8040. The seasonally adjusted figures support this, indicating a rise in UK non-residential transactions between January and February 2023.
  • During April and May 2020 there were significant decreases in property transactions due to the coronavirus. Following this, non-residential transactions increased for several months, before stabilising.

Baileys Bust. Money and Credit – February 2023 . To Far to Fast. . Can you tell what it is yet?

Sound effect from ♯ Radio Show Sounds.

Source: Sound clip: ‘Rolf Harris Can You Tell What It Is Yet’

Author: rogerglewis

Real Estate Entrepreneur. http://www.realrld.com/

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