House prices

[peryskop]

Just wandering what you guys think about recent house price rises .
I was looking for reasonable house in Luton 3 bed as my current one is only 2 bed and in last 6 months asking prices went up by at least 10k.

What your gut feelings are up or down .

Thanks

 

[specs]

Just wandering what you guys think about recent house price rises .
I was looking for reasonable house in Luton 3 bed as my current one is only 2 bed and in last 6 months asking prices went up by at least 10k.

What your gut feelings are up or down .

Thanks

While the population of this country continues to grow the prices will always go up, every couple of years the increase slows a bit while the economy of the country has a blip, then off it goes again. there are a few exceptions ie in Liverpool a short while ago you could buy a house for a pound from the local council. However in your case you are within commuting distance to London so your prices will continue to increase.

 

[RyanCheetham]

My 3bed house in Basingstoke recently went up in value by just shy of 12k from 2 years ago when it was last valued

 

[Octopus]

Gently up.

 

[telectrix]

Just wandering what you guys think about recent house price rises .
I was looking for reasonable house in Luton 3 bed as my current one is only 2 bed and in last 6 months asking prices went up by at least 10k.

What your gut feelings are up or down .



Thanks

might be a sensible idea to consider an extension, if you have the space for it.

 

[oldtimer]

Its going up due to the government creating a housing bubble by helping people to buy a property this has not helped because housing has not found its true level in relation to earnings . Think about it there has been next to nothing pay rises yet houses prices are getting a bump with government money only problem is we hit a dip and I think you call it negitive equity

 

[Octopus]

Its going up due to the government creating a housing bubble by helping people to buy a property this has not helped because housing has not found its true level in relation to earnings . Think about it there has been next to nothing pay rises yet houses prices are getting a bump with government money only problem is we hit a dip and I think you call it negitive equity

Utter tosh.

House prices WILL continue to rise, because 10+ years of unlimited immagration into this country has left us with a terrible shortage of all types of housing.

 

[oldtimer]

Utter tosh.

House prices WILL continue to rise, because 10+ years of unlimited immagration into this country has left us with a terrible shortage of all types of housing.

We are in this recession for the next 7-10 years and the same people who said we would go into a recession in 2005 were ignored and now they are saying that we will have a housing bubble because the government Help to buy is propping up the prices. Plus I here what you say on immigration but this country is now a low paid sector so explain how they are going to buy a house

 

[Octopus]

We are in this recession for the next 7-10 years and the same people who said we would go into a recession in 2005 were ignored and now they are saying that we will have a housing bubble because the government Help to buy is propping up the prices. Plus I here what you say on immigration but this country is now a low paid sector so explain how they are going to buy a house

We are not in recession, we are in 1960's mode where people lived within their means and went without, and credit wasn't easy. The period from 1993 to 2007 was an unpresidented run of boom.... which we all know busted. The 3% growth year on year was also unpresidented so the norm now is likely to be 1% or there abouts AND this is the reality than NONE of the politicians will admit to.

The UK can not return to 2% growth all the time the EU and USA are dealing with their over spending!

 

[Adam W]

I think the obsession with house prices increasing is wrong in general - houses should be places to live, not investments to sit on for a couple of years and cash in at the expense of low earners trying to earn enough to own their own home.
Basic economics (supply and demand) suggests that house prices will rise due to demand outstripping supply - either there are not enough houses or too many people in the country.

It seems a shame that so many have to struggle to afford somewhere to live and many are priced out of the market in their local area when there are houses in 'deprived' areas which are selling for next to nothing.

 

[Sharpend]

Well said Adam, why are we obsessed with buying a house which generally takes a lifetime to pay for! You wouldn't spend a lifetime paying for anything else?
Rent and have the freedom to move when and where you like, in most circumstances have more available money in your pocket and none of the expenses. Life is for living!

 

[oldtimer]

Its been said for years that house inflation bears no relation to wages I am old enough to remember you could not get a loan of no more than 3 times your annual salary but now we are in a hole because if houses reflected their true price then it would push us into a deep recession hence why the in my view the artificial propping up of prices because if the government did not do it house prices would collapse

 

[Sharpend]

There are a few things that the government will not allow to collapse, banks and houses prices being the two top priorities.

 

[Octopus]

There are a few things that the government will not allow to collapse, banks and houses prices being the two top priorities.

and their saleries (goes for all MP's and top level civil servants)

 

[Sharpend]

That's why they keep the banks and houses, status symbols etc

 

[oldtimer]

That's why they keep the banks and houses, status symbols etc

No because if house price do collapse they will not get voted back in ie an Englishmans house is his castle

 

[Dalf]

I am actually in the middle of looking to buy a house and agree with you, having looked at properties about 6 months ago they do seem to have slightly risen. It's now put me in a situation, do I wait or do people think they will now be at a stable price?

 

[Octopus]

I am actually in the middle of looking to buy a house and agree with you, having looked at properties about 6 months ago they do seem to have slightly risen. It's now put me in a situation, do I wait or do people think they will now be at a stable price?

Who knows. The question you should ask yourself is do you want to commit to buying a house which you can alter, improve etc or do you want to pay increasing rent to a landlord who doesn't give a txss!

Sure mortgage rates will eventually rise but rental goes up year after year after year.

 

[Sharpend]

Did hear that interest rates are going to start rising within next 6-12 months. Oops!

dont agree that rents go up each year, in 10 years I've had one increase!

 

[Dalf]

I am actually in the middle of looking to buy a house and agree with you, having looked at properties about 6 months ago they do seem to have slightly risen. It's now put me in a situation, do I wait or do people think they will now be at a stable price?

Who knows. The question you should ask yourself is do you want to commit to buying a house which you can alter, improve etc or do you want to pay increasing rent to a landlord who doesn't give a txss!

Sure mortgage rates will eventually rise but rental goes up year after year after year.

When you put it like that. The sooner I buy the better haha.
I don't think know one enjoys lining someone else's pocket with rent.
And to be fair the price of rental to mortgage repayments are roughly the same.