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Debate House Prices
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How much more would you pay....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
For a house with hot water, indoor toilets and central heating versus a house that had none of the above.....
So in the 60's/70's, 14% of houses had no inside toilet, 22% had no hot water supply, and only 35% had central heating.
Not to mention fitted kitchens, bathrooms, double glazing, etc etc etc....
No wonder houses used to be cheaper....;)
Between 1960 and 1996 the percentage of households lacking an inside WC fell from 14% to just 0.2%.
The percentage of households without a basic hot water supply declined from 22% in 1967 to 1% in 1991.
The proportion of households in Great Britain that has central heating increased from 35% in 1971 to 92% in 2000.
So in the 60's/70's, 14% of houses had no inside toilet, 22% had no hot water supply, and only 35% had central heating.
Not to mention fitted kitchens, bathrooms, double glazing, etc etc etc....
No wonder houses used to be cheaper....;)
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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I predict some non-sensical abuse with no apparent counter debate.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I predict some non-sensical abuse with no apparent counter debate.
Predictable, ain't it?
“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 -
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How much more would you pay....
Probably, about the same as the cost of installing all those things.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
hhmm....does that mean we paid more for the rarity of our outdoor loo?0
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Probably, about the same as the cost of installing all those things.
So lets say, for the sake of argument, that the following would be about right for a house.
Indoor toilet and plumbing to install -- £5000
Central Heating system and all associated works -- £10,000
Hot water supply and plumbing throughout house -- £5000
Now add in double glazing (£12K) fitted kitchen and bathroom (£10K).
Somewhere around £42,000 worth of improvements and upgrades (not basic repairs) to houses in the last few decades.
Hardly unreasonable to expect those costs to be passed onto the value of houses.
The average house value today would be approximately 25% less if the house was still the same standard as it was in the 1950's for example.
And yet house prices today are 4.5 times average male (mean) earnings, versus 4.0 times average male (mean) earnings in the early 1950's.“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: »Indoor toilet and plumbing to install -- £5000
Central Heating system and all associated works -- £10,000
Hot water supply and plumbing throughout house -- £5000
:rotfl::rotfl::rotfl::rotfl::rotfl:
................Not Again0 -
1984ReturnsForReal wrote: »:rotfl::rotfl::rotfl::rotfl::rotfl:
................
Got a better estimate?
Or are you just going to prove joeskeppi's point....“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 -
The average house value today would be approximately 25% less if the house was still the same standard as it was in the 1950's for example.
Actually it would be interesting to compare what the cost of these upgrades would have been 50 years ago, against the cost today, and what proportion of the average property price it equates to.'In nature, there are neither rewards nor punishments - there are Consequences.'0
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