EXPRESS- House prices to SOAR 21%

Turnbull2000

Express tomorrow

But seriously, buy now before it's too late or enjoy coughing up rapidly rising rents.

Thrugelmir

Source of the headline?

1984ReturnsForReal_2

Thrugelmir wrote: »

Source of the headline?

Class B drugs & alcohol

mcc100

Turnbull2000 wrote: »

Express tomorrow

But seriously, buy now before it's too late or enjoy coughing up rapidly rising rents.

https://forums.moneysavingexpert.com/discussion/3264316


Oh please .......... now you'll start Sibley and Hamish off again

Typical garbage from the Express ......

Turnbull2000

21% over 5 years is actually quite subdued. I'm sure the BoE and the Tories will be hoping for a better house price performance than that during their first term.

treliac

So how are all these people, who currently aren't receiving pay rises, have stopped spending on the high street and are frantically worried about their job security, going to suddenly start buying up houses like there's no tomorrow?

Sibley

I saw a great comment yesterday on a house price story comment section. Couldn't add anything. It's perfect.

Here is the link to the Express anyway. I notice they won't allow comments. Now that will jack the HPC gang off. All those readers with nothing negative to view. Prices will go up this month you watch.

http://www.express.co.uk/posts/view/268016


'Difficult for young people to obtain mortgages, house prices fall, easy for me to get a BTL mortgage, rents rise and I get a good return. Credit conditions slacken, easy to obtain mortgage for young people, house prices rise, rents fall, so I sell at a good profit. Rinse & repeat forever'.

HAMISH_MCTAVISH

HOUSE prices are set to soar by 21.3 per cent over the next five years, according to economists.

In what is hailed as “fantastic” news for the property market, the average value of a home in England is expected to rise from the current £214,647 to £260,304 by 2016.


It comes after asking prices rose by 1.3 per cent last month, the biggest monthly jump since January 2010. All regions of the country should see an increase.


A shortage of housing, coupled with rising demand will drive the boom, with prices sky- rocketing by more than a fifth in just five years, according to research by Oxford Economics for the National Housing Federation.

It said that over the past year, only 105,000 new prop- erties have been built across the country – the lowest level since the 1920s. It is also less than half the number needed to meet demand.


The predicted boom in property values will come as welcome relief to homeowners, many of whom have battled with negative equity since the start of the recession.


Seven per cent of people currently owe more than their property is worth, according to the Council of Mortgage Lenders. In some parts of the country this is as high as 16 per cent.


Stephen Dyer, managing director of Ideal Property, said the forecast was “fantastic news for homeowners”.


He said: “These projected figures are massively positive and they comefrom a very credible source so it’s great news that they think house prices will rise by so much.


It is an absolutely fantastic forecast.


“Some people will find these predictions very hard to believe given the current economic situation and the fact that the housing market is still struggling, but this report is looking at more than just this year.


“There are not currently a lot of new houses being built so there’s competition for the properties that are on the market already.


“That means house prices will rise. It is just a matter of time.”


He added: “Lending will also free up at some point. When that happens, which it will, and when more people start becoming more confident about the market, which they will, there will be a significant improvement.”


Mr Dyer said the boom would be a huge relief for people retiring over the next few years. He said: “Many have seen huge sums wiped off their pensions because of the stock market crash, so this will be very welcome news.”


Kamlesh Padhra managing director of Infinity Property Solutions Ltd, said: “I’ve seen more movement in the housing market in the last six months than in the whole two years before.”


But while the huge price rises will be welcomed by homeowners, the National Housing Federation said the downside would be fewer people able to get on the property ladder.


Chief executive David Orr said: “At the heart of this crisis is a chronic shortage of new homes. House building has slumped to a 90-year low. Housing has to be finally treated as a top political priority.”


Housing Minister Grant Shapps said: “The trebling of house prices in the 10 years from 1997 has locked too many out of owning their own home. We need to get Britain building again. That’s why I’ve announced plans to release thousands of acres of public land.


“Despite the need to tackle the deficit we inherited, this government is putting £4.5billion towards an affordable homes programme, set to exceed our original expectations and deliver up to 170,000 new homes over the next four years.”

HAMISH_MCTAVISH

We've been telling you this would happen.

Record low building meets rising population with the inevitable result being prices rise.

It ain't rocket science....

HAMISH_MCTAVISH

treliac wrote: »

So how are all these people, who currently aren't receiving pay rises, have stopped spending on the high street and are frantically worried about their job security, going to suddenly start buying up houses like there's no tomorrow?

I don't know anyone that hasn't had a pay rise this year.

I don't know anyone that has stopped spending on the high street.

I don't know anyone that is particularly worried about their job security.

I do know a lot of people that want to buy houses though... And are only being stopped by mortgage rationing. When that eases, and it will, there will be the most almighty boom as pent up demand is unleashed on a market starved of sufficient buillding.

Sibley

I think it all goes to show there will be no house price crash.
Can you really see a 200k house dropping to under 100k? Really?

What on earth would make a homeowner chop a load of money off?
There is no reason. Low interest rates make everyone happy.

Prices will rise. I've always said the average house price should be around 175K but it looks like they will be going over that.

I plan to sell mty investment place in 10 years time. I expect prices will be 30% higher than now. That will give me a nice retirement.

Even if prices dropped my rent will only ever increase.

It's win win for me. I worked hard and am now reaping the rewards.
The sooner people get on the ladder the sooner they can have a piece of the pie.