If anyone ever tells you house prices double every 10 years they are a liar

chucky

Pimperne1 wrote: »

Unless they say "Well almost":

House Prices since 1970 (average)

1970 £4378
1980 £22677
1990 £59587
2000 £77698 (disappointing decade)
2010 £162887

Middle Tab, UK house prices since 1952

http://www.nationwid.../historical.htm

Think of it, invest your 10% deposit of £5k in 1970 and today its worth more than £150k (and your mortgage for most of that period has been negligible - although £30 a month seemed a lot in 1970).

how about if you took the sequence 1965, 1975, 1985, 1995 and 2005...

actually i'll do it for you.

from your link...

Q1 1965 £3,269
Q1 1975 £10,388 increased 218%
Q1 1985 £33,200 increased 220%
Q1 1995 £51,084 increased 54%
Q1 2005 £152,790 increased 199%

not a bad return - timing is everything...

and as for property doubling every 10 years.... it does, i guess it depends in which 10 year period that you buy...

N1AK

HAMISH_MCTAVISH wrote: »

1970 £4,378
1980 £22,677
1990 £59,587
2000 £77,698 (disappointing decade)
2010 £162,887
2020 £235,000 (disappointing decade)
2030 £450,000

Glad we agree again Hamish. I'd take that as a far more realistic estimate of 2020 prices than people expecting < £200k.

I'd expect 2030 prices to be more like £375k. My expectation is that this would be growth that marginally beats inflation. The problem with predicting property prices 20 years out is that the world can entirely change.

abaxas

So tell me where all that wage inflation is coming from to support those prices?

People seam to forget that if you cant afford something you cant buy it.

chucky

abaxas wrote: »

So tell me where all that wage inflation is coming from to support those prices?

People seam to forget that if you cant afford something you cant buy it.

people seem to forget that 100% of people don't buy property.

you'd only need about 35% of people to have wage increases for there to be HPI.

will 35% of people have wage increases - i don't know but it's very possible

abaxas

chucky wrote: »

people seem to forget that 100% of people don't buy property.

you'd only need about 35% of people to have wage increases for there to be HPI.

will 35% of people have wage increases - i don't know but it's very possible

Never has made up statistics, ever made someone look more like a fool :P

chucky

abaxas wrote: »

Never has made up statistics, ever made someone look more like a fool :P

"never has someone making soundbites made someone sound intelligent."
Chucky - MSE
10/09/2010

abaxas

chucky wrote: »

"never has someone making soundbites made someone sound intelligent."
Chucky - MSE
10/09/2010

I'm just pointing out fact.... shame your mind cataract is in full force.

chucky

abaxas wrote: »

I'm just pointing out fact.... shame your mind cataract is in full force.

the one that you think that you have to have 100% of people getting wage increases for HPI to happen.

you're vortex of talking cobblers is getting larger day by day

abaxas

chucky wrote: »

the one that you think that you have to have 100% of people getting wage increases for HPI to happen.

you're vortex of talking cobblers is getting larger day by day

So where did I say that?

Mind cataract in full operation, me thinks.

chucky

abaxas wrote: »

So where did I say that?

Mind cataract in full operation, me thinks.

trying to explain to Abaxas is trying to explain something to a hungry and tired 2 year old.

i said that you don't need 100% of people getting wage increases for HPI to happen and that it would be about 35% of people getting pay rises for HPI to happen.

you have come back about 3 times with your usual soundbites adding zero value for a change.