House prices SURGE in October - Express hails new BOOM

Turnbull2000

Yes, really. Up 3.5% apparently.

HAMISH_MCTAVISH

Rightmove oct. +3.5% mom +1.5% yoy.

Asking prices usually rise in October though, so not unexpected.

chucknorris

I would like to be wrong but I just can't see house prices increasing for about 3 years, I don't see any crash though, I think we will be flat nominally so in real terms probably falling about 7-8% during that period.

breadlinebetty

chucknorris wrote: »

I would like to be wrong but I just can't see house prices increasing for about 3 years, I don't see any crash though, I think we will be flat nominally so in real terms probably falling about 7-8% during that period.

Property ALWAYS rises in the long term. Just check the LR to see how much your property was worth 10 years ago...20...30 etc.....property is now worth much more than it was 10 years ago - and in 10 years from now it will be worth more than it is now.

FACT.

breadlinebetty

Turnbull2000 wrote: »

Yes, really. Up 3.5% apparently.

In the Daily Mail as well

http://www.dailymail.co.uk/news/article-2217783/House-prices-leapt-8-000-biggest-jump-months.html

chucknorris

breadlinebetty wrote: »

Property ALWAYS rises in the long term. Just check the LR to see how much your property was worth 10 years ago...20...30 etc.....property is now worth much more than it was 10 years ago - and in 10 years from now it will be worth more than it is now.

FACT.

I don't need to check the land registry I can remember how much I paid for the investment properties that I bought over 21 years ago and still own. I don't know how you managed to miss that I wasn't talking about the long term I was talking about the next 3 years!

EDIT: Your link in the above post states they have risen 1.5% (YOY) but as that is below the level of inflation they have in fact fallen slightly in real terms. I don't want property prices to fall but there is no point in living in cloud cuckoo land pretending that they have (on average) risen, although my investment properties probably have as they happen to be in London. But overall from 2008 I think that they (mine) have probably fallen about 18% in real terms. I don't know exactly how much they have fallen (since 2008) because I don't really care, it only matters when I decide to sell them, which will be when the market is much better, probably in about 8-10 years time depending on how the market pans out.

gingeralan

breadlinebetty wrote: »

Property ALWAYS rises in the long term. Just check the LR to see how much your property was worth 10 years ago...20...30 etc.....property is now worth much more than it was 10 years ago - and in 10 years from now it will be worth more than it is now.

FACT.

FACT land registry only have data that has been published for around the last 10-15 years!

Generali

breadlinebetty wrote: »

Property ALWAYS rises in the long term. Just check the LR to see how much your property was worth 10 years ago...20...30 etc.....property is now worth much more than it was 10 years ago - and in 10 years from now it will be worth more than it is now.

FACT.

How long is long term? Real (inflation adjusted) prices outside London are back to something like 2004-5 levels. That's 7-8 years now.

I happen to believe that the best investment most people will make is buying their own home but it is wrong to say that prices are on some sort of ratchet.

breadlinebetty

gingeralan wrote: »

FACT land registry only have data that has been published for around the last 10-15 years!

My God, what a stupid response!

:rotfl:

The LR has data going back over 100 years! It may not pop up on t'internet......but you go down to the LR and you'll find it! Or go to the library...check out old newspapers and swoon at the asking prices of 25 years ago!!!:D

breadlinebetty

Generali wrote: »

How long is long term? Real (inflation adjusted) prices outside London are back to something like 2004-5 levels. That's 7-8 years now.

I happen to believe that the best investment most people will make is buying their own home but it is wrong to say that prices are on some sort of ratchet.

Long term (in my opinion) is a minimum of 10 years. And 10 years goes much more quickly than people realise!

Obviously inflation will have an effect on the real term value, but with inflation you usually find rising house prices too...sometimes they keep up with inflation, sometimes they don't, and sometimes they race ahead.......but in the long term property always rewards you.

Whatever the economy is like, there's no getting away from the fact that it's far better to have an assett that you own (whatever it's real worth) rather than than totting up how much rent you've paid over the last 25 years - and knowing you don't own even one brick!:(

gingeralan

breadlinebetty wrote: »

My God, what a stupid response!

:rotfl:

The LR has data going back over 100 years! It may not pop up on t'internet......but you go down to the LR and you'll find it! Or go to the library...check out old newspapers and swoon at the asking prices of 25 years ago!!!:D

Yeah I appreciate that, but u gonna go n trawl through old newspapers? Look through paper records etc. Thought not, just use their website which only has the info from the last 10 or 15 years.