House prices rises over time

IveSeenTheLight

bullau wrote: »

25% of my worth although it doesnt fit in my wallet and I wouldnt leave it in a bank

You were talking about currencies.
How do you spend a gold bullion bar?

IveSeenTheLight

bullau wrote: »

you swap it for silver when the gold to silver ratio favours the trade

How do you spend silver?
At some point you need to convert to a currency you can spend.

Hence, my point, comparing house prices (which you pay for in a currency) against bars of gold, silver, banana's, cheese is hugely irrelevant.

Much better to compare against the currency the property is bought in.

brit1234

IveSeenTheLight wrote: »

Some local areas are already above the 2007 levels.

Yes apparently Hyde park 1 is with its £40,000,000 flats. Not much else other than Central London with its foreign Investors and they are now slowing down.

nollag2006

brit1234 wrote: »

Yes apparently Hyde park 1 is with its £40,000,000 flats. Not much else other than Central London with its foreign Investors and they are now slowing down.

Poor old Brit. You live in Brentford, Hounslow borough, where house prices have risen rapidly since the bottom of the market in early 2009.

Back then you were predicting house price falls of 50% by Christmas 2009. Instead you got a 10% price rise.

Your track record on economic predictions isnt too strong now, is it??

Oh dear, never mind.

nollag2006

davholla wrote: »

If you know how much a house cost in year x, is there anyway you can tell how much it should be now assuming that it's value rose/fell at the same rate as average prices. I.e. a website that will calculate this?

Anyway, back to the OP's question - may I suggest you take a look at this excellent thread on how to estimate your house price:

http://forums.moneysavingexpert.com/showthread.html?t=1907059

Running_Horse

This forum seriously need moderators to put house price discussions in the house price forum.

nollag2006

Running_Horse wrote: »

This forum seriously need moderators to put house price discussions in the house price forum.

Absolutely agreed - there are a large number of bears who come over here and pollute the board with their pessimistic views without offering any constructive advice.

I have flagged it before, but it just encourages their HPC wailing

Turnbull2000

OP, you should ignore the average salary multiple nonsense we frequently see on here. House buying is now based on duel income rather than single, thus the old 3.5x income measure is obsolete and 5-6x will be more typical. Unless we have a domestic war or catastrophic depression, housing will never be anywhere near 3.5x again.