Do you get fed up with the spin?

Pobby

Watching a program recently,it said that the average house price in less than 10 years will be £300,000 .How mad is that?When i look at debt that is already owed,I wonder about the sanity of those that predict these figures.Just wondered at what other people think?

Phoenix79_2

I despair as i'd like to get on the property ladder when i clear my debts. I just don't know how i'm going to do it! Need to find a rich woman methinks....

Mrs_Sparkle

It's scary, that's what I think. That's what our house is worth now but we live in pricey West London so we've come to expect those prices sadly. I only managed to get this house due to starting out with shared ownership via a housing association and selling that and another house to make enough for a deposit- I really feel for those who just can't get on the property ladder. I think we'll see more and more people in debt as they will stretch themselves with huge mortgages and rely on loans and CCs to fund house repairs and other essentials.

System

God, I hope not. I'm alrady hopelessly behind the curve. Surely, surely (down on my knees and praying) they must get cheaper. We cannot sustain such high prices. Peoples income will not be able to sustain it. I know banks can offer 250 year mortgages and all that and with all the personal debt it must come down!

System

WHen I clear my debt I would like to take the plunge in property development. Bit optimistic I know but I dont see any other way.

rog2

The bubble just HAS to burst - my daughter has just paid £140k for a 'starter home' which has a similar footprint to my garage. :mad: :mad:

Mrs_Sparkle

Do you really think it's "spin" though? Just look at how prices have gone up in the last 10 years... is it really unbelievable that they'll go up again by a huge amount in the next 10 years, even with a dip at some point? Sadly it might not be that insane a prediction.

pollyanna24

We have to remember that's the "average" price for a house. I live just outside London and we paid about what the average price at the moment is for our house. But it's a lovely three bed house with a drive for 2 cars and a nice big garden and is perfectly big to have 2/3 kids. And it is just outside London.

The house that a first time buyer should be looking for is not we have (although this is our second house at 25 years old and we worked blooming hard for it). The other "starter" houses or flats round here go for less.

The "average" takes in the mansions and the massively inflated prices in London as well. Although our house was what they say is average, you could get it for a lot less up north.

JGWT8M

Our first property (if you can call a mobile home a property!) doubled in price in the 7 years we owned it, and in the two years since we sold it, has doubled in price again.

It would be ok if wages were going up by the same percentage!

summerday

I agree that you need to take inflation into account as part of that rise, and remember that wages will rise too.

At the end of the day take anyones predictions with a big pinch of salt cos no one can know what will happen. Just keep saving for deposits then whatever happens you will have a sum of money to help.

Kevicho

TBH i think the housing market HAS to crash at some point.

Prices now are becoming rediculous, and TBH i would not pay them until a crash has happened so i am going to be renting when the time comes.

I personally think in a way renting only makes someone else richer, but I dont want to end up with a mortgage that is 80K above the value of my house

Eventually sanity will prevail