Daily Express say house prices to double over next 10 years !

ScoobyZ

Did anybody read it ?

Be nice if they do, as have a buy to let

mr_fishbulb

And what do they base that on? A report by an online house listings website, an estate agent, or a mortgage provider perhaps?

All reports I have seen by institutions who stand to make more money from house prices going up can't see an end to the price rises. Funny that.

happydj

House prices are already out of my reach - unless i have the lottery win which I have been hoping for it looks like im going to get a tent - then again... the price of land has gone up quite a bit to hasn't it!

Jorgan_2

its in the press it must be true. This combined with Kirsty & Phil's new property show is great news, this time next year we'll be millionaires.

lynzpower

If I use the estimate from that other websitre someone posted my flats worth, 340 ( as if) double it 680 - awwww Im STILL not a millionaire and everyone else is

Booooo hoooo

stratford_2

Couldn’t find an electronic copy of the article online, so nicked a colleagues paper copy. A couple of choice quotes from this very short article, which doesn’t mention how it’s come up with the figures:


Christopher Hall (NAEA): “I am confident the average house price will increase by up to 100% over the coming 10 years, so my advice is to continue to invest in bricks and mortar.”


John Wrigglesworth: “…It’s the start of a sustained recovery. Barring the BOE doing something stupid like raising interest rates, we’re moving back towards double digit house price over a long period. All the predictions of doom and gloom and housing crashes are out of date.”

So that's that then. :rolleyes:

mr_fishbulb

stratford wrote:

Christopher Hall (NAEA):

Yup. National Association of Estate Agents. Very unbiased source.

mystic_trev

ScoobyZ wrote:

Did anybody read it ?

Be nice if they do, as have a buy to let

...and the Beano says that Dennis the Menace will be the next PM....I know which one i'd believe!

mpsavuk

It's amazing how these newspapers blow hot and cold.Late last year the Daily Express was proudly proclaiming "House Prices Slump" on it's front page!!

richgirl

Using this interest calculator http://www.moneyforums.co.uk/savings_calculator.php

I would have earned 63% on a savings account at 5% without any risk of a property crash.

Now if stocks went up say 10% a year that would make me 159% !

So 100% given the risks is not that good over 10 years.

BobProperty

stratford wrote:

John Wrigglesworth: “…It’s the start of a sustained recovery. Barring the BOE doing something stupid like raising interest rates, we’re moving back towards double digit house price over a long period. All the predictions of doom and gloom and housing crashes are out of date.”

So that's that then. :rolleyes:

Like the US and Japan have done recently...but don't worry, we're in the UK so global increases won't affect us. (Reminds me of the old Times headline "Fog in Channel - continental Europe isolated")