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Debate House Prices
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Lack of supply pushing up prices
Comments
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Is £30K above average for London? I thought it was nearer £50K.
According to the ONS the mean average male in full time employment in 2008 earnt £54,628
A part time female earnt £13,104
It would therefore appear that a mean typical family of a full time male and part time female earnt £67,732 in London in 2008
http://www.statistics.gov.uk/downloads/theme_labour/ASHE_2008/2008_work_la.pdf
(Table 7.7a):wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Sir_Humphrey wrote: »Exactly what I was implying before. All these bulls go to show with their drivel is just how divorced from reality they are. :rolleyes:
What is the reality of house prices in London?
Do you understand that there is demand that is meeting the supply and house prices?
Keep on moaning Sir Humphrey and it will get you nowhere.
Once you grasp the reality, you may be in a position to do something about it:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Why are you making things up.
Go on HSBC or FD (the strictest lenders) and check it out before making stuff up.:rolleyes:(hint it around 3X. Most high streets could get you 3.5X joint)
Actually the HSBC will lend 4.5 times joint at the 75% LTV Sir Humphrey is on about requiring
They will lend 3.5 times joint on a 90% LTV
Check it out yorself
https://hsss1.hsbc.co.uk/bankinguk/mortgageAIP/ourservice.jsp?Start=true:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Actually the HSBC will lend 4.5 times joint at the 75% LTV Sir Humphrey is on about requiring
They will lend 3.5 times joint on a 90% LTV
I think Sir Humphrey got the hump over today's report projecting 40% house price rises for London by 2014....:D
Although, being a (claimed) Oxford grad on only £25K in the Public Sector is a pretty depressing reality at the best of times.....:rotfl:
No wonder he's always miserable......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »I think Sir Humphrey got the hump over today's report projecting 40% house price rises for London by 2014....:D
Although, being a (claimed) Oxford grad on only £25K in the Public Sector is a pretty depressing reality at the best of times.....:rotfl:
No wonder he's always miserable......
I chose life.Politics is not the art of the possible. It consists of choosing between the disastrous and the unpalatable. J. K. Galbraith0 -
Sir_Humphrey wrote: »I chose life.
Good for you
Choose Life. Choose a job. Choose a career. Choose a family. Choose a !!!!ing big television, choose washing machines, cars, compact disc players and electrical tin openers. Choose good health, low cholesterol, and dental insurance. Choose fixed interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisurewear and matching luggage. Choose a three-piece suit on hire purchase in a range of !!!!ing fabrics. Choose DIY and wondering who the !!!! you are on Sunday morning. Choose sitting on that couch watching mind-numbing, spirit-crushing game shows, stuffing !!!!ing junk food into your mouth. Choose rotting away at the end of it all, !!!!ing your last in a miserable home, nothing more than an embarrassment to the selfish, !!!!ed up brats you spawned to replace yourselves. Choose your future. Choose life... But why would I want to do a thing like that? I chose not to choose life. I chose somethin' else. And the reasons? There are no reasons. Who needs reasons when you've got heroin?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Sir_Humphrey wrote: »Prices only have to fall another 10-15% for me to buy the sort of flat I am after. If that doesn't happen, then I'll just move up North. This is no big deal for me. The point (which as usual you have missed) is that if lots of people like me do that, demand for housing will fall in London, pushing down prices.
good luck with that but it looks like you've got your predictions horribly wrong once again :rolleyes:
London will escape falling house prices next year while the rest of the country faces a setback in the values of most properties.
According to estate agency Knight Frank, house prices will end this year 2% higher than they were at the beginning of the year led by the recovery in London and the South-East. But the agency predicts that throughout next year prices will fall 3% nationally ”the classic W-shaped recession” although London will continue to grow with prices rising by 3% next year and by 9% in 2011. Five years out, by 2014, London prices will be 38% higher than today while the national gain will be just 19%.“The key reasons for our confidence with regard to this market are: uniquely in the UK — London will benefit from the global economic recovery, which is likely to considerably outpace that seen in the UK; sterling is set to remain relatively weak into the medium-term, encouraging international demand; the economic prospects in central London are brightening more rapidly than elsewhere in the UK.”
http://www.thisislondon.co.uk/standard-business/article-23755720-london-set-to-buck-falling-house-prices-with-3-percent-rise.doSir_Humphrey wrote: »\There are a lot of twenty-somethings working who are quite content with flatshares and the suchlike. They are going to to be off if things do not become affordable soon, and there is a cheaper alternative elsewhere. It is a brain drain waiting to happen.
i guess you better start making plans to leave London if you're expecting prices to drop to your price level :wave:0 -
Whats your take on that Chucky? (the London prices up 38% by 2014 piece)Prefer girls to money0
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HAMISH_MCTAVISH wrote: »I think Sir Humphrey got the hump over today's report projecting 40% house price rises for London by 2014....:D
Although, being a (claimed) Oxford grad on only £25K in the Public Sector is a pretty depressing reality at the best of times.....:rotfl:
No wonder he's always miserable......
And what have you done Hamish - what single solitary thing have you actually done in your life except for buy a house in Aberdeen in 1974, and then spend 8 hours a day on here squeaking about it in 2009?0 -
the_ash_and_the_oak wrote: »Whats your take on that Chucky? (the London prices up 38% by 2014 piece)
it's not for me - a 40% rise is 7% each year. i can't see that.
some areas might do 20%/30% quite easily but not 40% across the board in the 5 years.
as a London average i would hazard a guess that they will be at around 15%/20% more.
what do you think?0
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