MSE News: Halifax - House prices rebound after fall

Turnbull2000

Typical local media reporting...

http://www.eadt.co.uk/news/positive_signs_as_house_prices_rise_1_211863

HOUSE prices in Suffolk are on the rise as new figures reveal the market is showing the vital signs of recovery.


After the turbulent instability which blighted the housing market as the recession took hold, the cautious message from estate agents across the county was one of good news.


Average house prices jumped nearly 10% in Suffolk in 2009, with some areas seeing rises of as much as 15%.


The average price of a house in the county is now £188,353, a rise of 9% from £173,597 in the first quarter of last year, according to Land Registry figures.

Reports such as this will just feed panic buying and paying higher prices. Nothing learned at all.

JonnyBravo

Graham_Devon wrote: »

Your figures make your point.

But can you use real figures? I.e. 157k - 168k.

The percentages will then change.

I won't argue about the £500 deposit saving each month, personally I think that's a little over optimistic for the average person to be saving. But we'll go with it.

£500 is over optimistic? Are they making no sacrifice?
What about the extra costs of owning a house? We're always hearing how great it is to be renting and not having any "expensive maintenance" to contend with. What they going to do when they own and they get extra bills?

Anyhow, I've just run it on £157k, going up by 1% a month and saving only £300/month. They've still saved 2% towards their deposit in one year.


C'mon Graham we get the message that rising house prices don't help FTBers it's just you over egged your pudding on your example somewhat. Your maths has let you down before, it's done it again.
Oh yeah and do FTBers really buy at the average price of all transactions?

System

I could use a "real" figure" of 157k - 168k but that will start the "FTBer buying an average house" argument and quite frankly I can't be bothered. :P

System

JonnyBravo wrote: »

£500 is over optimistic? Are they making no sacrifice?

I suppose it depends if you're already spunking away £800 a month on rent.

When I lived at home on 23k a year I saved £1000 a month

Pete111

Graham_Devon wrote: »

Your figures make your point.

But can you use real figures? I.e. 157k - 168k.

The percentages will then change.

I won't argue about the £500 deposit saving each month, personally I think that's a little over optimistic for the average person to be saving. But we'll go with it.

Won't there be a little interest on the savings also (I know it won't be massive but...)

JonnyBravo

Joeskeppi wrote: »

I could use a "real" figure" of 157k - 168k but that will start the "FTBer buying an average house" argument and quite frankly I can't be bothered. :P

I've just worked out how expensive my first house was compared to the average of the day.
It's higher than I thought it was...... 81% of the average at the time in '98. I was an "old" FTBer for the time though, 28.

System

Mine must have been around 75% at a rough guess.

angrypirate

Interest rates are at .5%, no stamp duty for FTBs up to 250k and bulls here are happy at a 1.1%MOM rise? Jesus, if this was 2003 at those rates id expect at least 5% MoM rise. HPI is being completely artifically maintained by the government to make people feel good that the house they live in has "made them money". No wonder so many retards are voting labour.

Really2

JonnyBravo wrote: »

I've just worked out how expensive my first house was compared to the average of the day.
It's higher than I thought it was...... 81% of the average at the time in '98. I was an "old" FTBer for the time though, 28.

Our first purchase was almost the average cost in 2001 but my wage was 50% above average. My wifes was 20% below it.
So I struggle to see when the average wage / FTB purchased the average house TBH.

Really2

angrypirate wrote: »

No wonder so many retards are voting labour.

Do people vote on the basis of a disability?

Personally I have no disability, I have a house and will be voting conservative.