How much should the average house price be?

crash123

goalseeker wrote: »

I also own my own house and fall into the same category but remember a house is only worth something when you want to sell it or raise cash against it not before, and then its worth is really what someone is prepared to pay for it. The trouble is house prices have been driven by a combination of greedy sellers, lazyy estate agents who are commission driven. House prices should be tied to a formula that is taken on an unemotional basis then perhaps young people would be able to afford a house/flat of their own instead of lining the pockets of landlords.

I don`t want to sell or move up the ladder. I live in Harrogate, which is part of yorkshires golden triangle.

"some say its the London of the North
some say house prices will never drop in the golden triangle.
but all I know is that they did in the last house price correction."

I could not afford a property in 1989 but by 1993 I could afford a 3 bed semi. I even looked at a detached house that was the same price as the semi.
I think this time it will be longer before we reach the bottom.

ukcarper

goalseeker wrote: »

I also own my own house and fall into the same category but remember a house is only worth something when you want to sell it or raise cash against it not before, and then its worth is really what someone is prepared to pay for it. The trouble is house prices have been driven by a combination of greedy sellers, lazyy estate agents who are commission driven. House prices should be tied to a formula that is taken on an unemotional basis then perhaps young people would be able to afford a house/flat of their own instead of lining the pockets of landlords.

I would say greedy sellers and lazy estate agent had very little to do with it.

Gorgeous_George

I think we should all go on strike until wages are a third of the average house price.



GG