Official: London house prices have risen by 2.5% in just january alone

breadlinebetty

brit1234 wrote: »

For the benefit of MSE readers Nollag and Betty are the same poster, check the times of their posts both at anti social times of early morning. Please don't get fooled by their false propaganda agenda.

Reporting to MSE

Oh, let me and Nollag know the response from MSE! About time you and your paranoid brain toddled off to the ward...........:rotfl:

breadlinebetty

Shun_di wrote: »

Can I ask, why on a money SAVING expert forum do you think that higher house prices are good? Isn't this website about SAVING money and not spending it?

It sounds as if you would like house prices to rise and rise and rise for ever and ever. If that does happen (I think it will be very unlikely given that interest rates are now going up) can I ask, how do you expect your children, grand children and great grand children to afford a house? To me that seems very greedy and short sighted.

Also, it seems that there is at least one error in the figures that you have posted compared to the the land registry for January 2012? I had a look at those figures and they didn't seem right, so I cross checked my area (West Midlands) against the OFFICIAL LAND REGISTRY FIGURES FOR JANUARY 2012 landreg.gov.uk/upload/documents/HPI_Report_Jan_12_pv4ep17.pdf and it's completely different!
(NOTE: you will need to put a www. at the front of my link as I can't post links yet. Perhaps someone can post a proper link to this?)

Your post says: West Midlands:

Average price of property: £128,803
Month change: +1.0%

While the OFFICIAL LAND REGISTRY FIGURES FOR JANUARY 2012 says the following for the West Midlands:

West Midlands:
Average price of property: £128,803
Month change: +0.1%
(Annual Change: -2.2%)

So the average price is the same but the rise on your post is 10 times as much! How does that work? I suggest if anyone is interested in the correct monthly (and annual changes) that they check the OFFICIAL LAND REGISTRY FIGURES FOR JANUARY 2012 as these are the only ones to trust.

Property prices ALWAYS rise eventually. All you need do is look back at prices over the last 100 years!:D If you can draw graphs (or maybe you'll find one) you will SEE that even with all the various dips and rises every decade or so, the graph always steadily goes UP. Up, up, up......

In 100 years from now property prices will seem astronomical to us now. Just look back 100 years at the price of YOUR local properties!!

That has nothing to do with me or anyone else HOPING for price rises - it's simply the way of the world.

Incidentally, I myself am in a fortunate position of which I'm grateful - partly due to foresight and partly due to lucky timing - but I certainly wouldn't WISH all those struggling young couples with children who strived to get onto the property ladder, that they go into NEGATIVE EQUITY in order for vultures such as Brit to swoop in on their misery......that's what he would like to do! Are you his sock pupper by any chance?:(

Shun_di

breadlinebetty wrote: »

Property prices ALWAYS rise eventually. All you need do is look back at prices over the last 100 years!:D If you can draw graphs (or maybe you'll find one) you will SEE that even with all the various dips and rises every decade or so, the graph always steadily goes UP. Up, up, up......

In 100 years from now property prices will seem astronomical to us now. Just look back 100 years at the price of YOUR local properties!!

That has nothing to do with me or anyone else HOPING for price rises - it's simply the way of the world.

Incidentally, I myself am in a fortunate position of which I'm grateful - partly due to foresight and partly due to lucky timing - but I certainly wouldn't WISH all those struggling young couples with children who strived to get onto the property ladder, that they go into NEGATIVE EQUITY in order for vultures such as Brit to swoop in on their misery......that's what he would like to do! Are you his sock pupper by any chance?:(

Yes I agree house prices always rise. As do most other things, this is because of INFLATION. However, during the time between 2001 and 2007 a housing bubble was created due to loose lending (see northen rock and 120% mortages) which caused an ABNORMAL rise in house prices (and a recession - sub prime etc). Since then house prices have started to fall back towards thier long term average in line with inflation. However we are not there yet and this fall could accelerate with further interest rate rises.

That you are telling people to buy now is very irresponsible, due to the fact we now have tight mortage lending (which is good), interest rates rising and job losses. Buying now could very easily put you in NEGATIVE EQUITY.

Most people on here that want house price falls, only want them to fall to a reasonable level to be able to afford a reasonable house. Betty, can I ask, could you afford to buy the house that you live in for its supposed current value? Most people I know in their 40s, 50s and 60s can't and this shows that the wages to house price ratio is broken and must come back in to line.

Finally, I suggest that you modify the % increases in your original post as at least one of them is wrong, and you wouldn't want to mislead anyone now would you!

Running_Horse

breadlinebetty wrote: »

I did exactly that - bought before they rose!

People would be smart to follow suit and do the same - property prices are only going to continue going up and up in London and the south east.....:)

In 10 years from now people will be kicking themselves if they missed that boat YET again!

Thanks, I understand now. You're worried about your investment.

Pyramid schemes only ever work if there are new entrants at the lowest level.

My house is a place to live, not a money-making scheme.

breadlinebetty

Running_Horse wrote: »

Thanks, I understand now. You're worried about your investment.

Pyramid schemes only ever work if there are new entrants at the lowest level.

My house is a place to live, not a money-making scheme.

I own outright..........and my home is not an investment - it's a HOME.:D

So tell me why I should be worriied?:) I haven't got to find ever increasing rent each month!:)

p00hsticks

breadlinebetty wrote: »

People would be smart to follow suit and do the same - property prices are only going to continue going up and up in London and the south east.....:)

As will your water costs ;-).

Enjoy your parched and dirty existence in the 'big smoke', whislt some of us continue to live happily (and mortgage free) in the green and pleasant bits of England.

breadlinebetty

p00hsticks wrote: »

As will your water costs ;-).

Enjoy your parched and dirty existence in the 'big smoke', whislt some of us continue to live happily (and mortgage free) in the green and pleasant bits of England.

You must either be about 200 years old, or one of those carrot crunchers whose never visited London in their lives. London is no longer known as the 'big smoke' :rotfl::rotfl::rotfl::rotfl: and hasn't been for about 50 years!!! We don't have big smoky smogs anymore - unlike other parts of the country where they're allowed to burn COAL!:money:

People like you do make me laugh!

ruggedtoast

I remember living in London, wondering glumly if we would ever be able to afford to live there...

Then we moved away! :j:j:j:j:j:j:j
:beer::beer:

:T

chucknorris

ruggedtoast wrote: »

I remember living in London, wondering glumly if we would ever be able to afford to live there...

Then we moved away! :j:j:j:j:j:j:j
:beer::beer:

:T

You don't have to live in London to invest in it. Like you we lived there but then moved out, but we still have 8 properties there. We now live in Dorking, best thing I ever done, we love living in the North Downs for walking (and jogging and cycling with) our dog.

shortchanged_2

breadlinebetty wrote: »

Is anyone going to try and buy now? I would if I could. The prices are just going up and up............:money:

Is this what you were advising everyone to do in 2007?

Because I bet people that bought in 2007 really appreciated that advice now.