i cannot see clearance rates for auctions improving significantly to be honest.....bank lending will be tightening if anything unless you have a reasonable capital injection to support the establishment of the loan initially..
no more 10% deposits unless the loan can encompass a tie up with a guarantor i feel ie: mortgage on another asset..
in this market even borrowing 200-400k is a substancial amount out of a families pocket especially for young people...and then all of a sudden one of the earners falls pregnant and they have to rely on one wage.........scary stuff..
us older people had it easy last twenty-thirty years...
way harder next few years for the young to enter the market..
