PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Do you think property prices will double in 10 years?

Options
1235711

Comments

  • EdInvestor wrote:
    .....
    q1 1983 26,307
    Q1 1993 50,128
    q1 2003 119,938.....
    Would that put Q1 2013 at about £200,000-240,000?
    And where are we now? £200,000? So next to no price increases in the next 7 years, or a fall and rise to just above current levels? Take your pick, I know which one I think will happen.
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    Chichi wrote:
    Not all jobs can be outsourced you know as language proficiency is rated very highly in this country.
    Sorry, thought you were buying in the UK
  • Would that put Q1 2013 at about £200,000-240,000?
    And where are we now? £200,000? So next to no price increases in the next 7 years, or a fall and rise to just above current levels? Take your pick, I know which one I think will happen.

    i know this is all pretty much hypothetical but wouldn't that cycle continuing put Q1 2013 at least 240,000-280,000?; 20-40% isn't exactly a huge increase over the next 7 years but it's certainly not next to no price price increase.
  • bobsa1
    bobsa1 Posts: 1,947 Forumite
    My view is about a 50-60% increase over the next 10yrs. Whether BTL is for you is a different question. We have BTL properties and it is hard work & has very little day to day profit, however up to now we have seen excellent capital increase and we are happy with that. If they go up 100% in the next 10 years I for one will be very happy
  • Chichi wrote:
    Just wondering whether anyone thinks property prices will DEFINITELY DOUBLE IN 10 years' time?

    Hi there Chichi

    O.k. i can only give you my personal experience and that is i bought some properties on a buy to let basis about 11 years ago and they have trippled in price.

    Property tends to go up and down in 10 year cycles and as long as you dont have to sell at a specific time it is a pretty safe bet for investment. Bear in mind most of the large Pension Funds invest heavily in property.

    With regard to interest only mortgages they are great for short term borrowing but long term they are not such a great idea - it really depends on what interest rate you are going to borrow at and what rent you are going to achieve. You also have to take into consideration you may have periods when the property is empty - can you afford to fund the mortgage if this happens.

    The average rental yield at present is very low and the market is flooded with rental properties. Do plenty of research first.

    Hope this helps you.
  • F_T_Buyer
    F_T_Buyer Posts: 1,139 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Chichi wrote:
    Bear in mind most of the large Pension Funds invest heavily in property.

    And what have a few of the big funds been doing recently? Selling.
  • Chichi wrote:

    Does anyone think there is risk in what we're doing?

    :eek: :eek: Oh yes! :eek: :eek:
    ## No signature by order of the management ##
  • Hi FT Buyer,

    I didn't say anything about pension funds. it's someone else's quote.

    Worse case scenario: Interest rates double, rents remain the same might have to dig into pockets to pay the mortgage.

    It's a risk.
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    To be honest ChiChi, you seem to have decided that you are going to go ahead with this already, Im not too sure what you are asking us?

    You believe its a good investment now, with a 8% return.
    You seem to have it where your mum is paying the deposit and will pay any void months in order to hand over your inheritance.

    Im not too sure what you are asking us here?
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • bobsa1 wrote:
    My view is about a 50-60% increase over the next 10yrs. Whether BTL is for you is a different question. We have BTL properties and it is hard work & has very little day to day profit, however up to now we have seen excellent capital increase and we are happy with that. If they go up 100% in the next 10 years I for one will be very happy
    I love this blind faith based on nothing other than what's happened in the past.

    In the last 30 years I haven't died. Extrapolating that out, it means I will live for all eternity.

    As I say, I'd love for house prices to double in the next ten years, as that'll mean rampant wage inflation.

    Sadly, unless we close our borders and/or China and India are blown up, that isn't going to happen.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.