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Debate House Prices


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Bad news for homeowners as house prices will not return to pre-recession peak until e

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Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    IveSeenTheLight wrote: »
    Whilst the average may be lower, some areas are above their "2007 peak"

    Indeed.

    Aberdeen average house price Nov 2012 = £196,799

    Aberdeen average house price Nov 2007 = £180,125
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • ILW
    ILW Posts: 18,333 Forumite
    Mr._Pricklepants wrote: »
    I'd have to take out a mortgage to be in any kind of equity. :rotfl:
    You are a renter then?
  • bylromarha
    bylromarha Posts: 10,085 Forumite
    I've been Money Tipped!
    Is this new news then?

    We're putting our mums house on the market in a few weeks. EAs we had round before Cmas all said the same thing - that the prices "may" get back to pre recession peak in 5 years time, but realistically it'll be 10 years at least.
    Who made hogs and dogs and frogs?
  • NEO72
    NEO72 Posts: 69 Forumite
    ILW wrote: »
    You are a renter then?

    :rotfl:

    Wash your mouth out with soap and water!!
  • Mr._Pricklepants
    Mr._Pricklepants Posts: 1,311 Forumite
    ILW wrote: »
    You are a renter then?

    No I'm not.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    NEO72 wrote: »
    No in fact its very good news as the cost of upsizing, which I would like to do at some point, is reduced.

    Except of course, that's pretty much b0ll0cks for most existing first time owners.

    The price of FTB houses fell more in the crash than 2TB houses, so the gap between rungs widened instead of narrowing.

    We are now seeing the reverse. The price of FTB houses rose last year by more than the price of 2TB houses. So with prices rising, the gap is narrowing.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • ILW
    ILW Posts: 18,333 Forumite
    Mr._Pricklepants wrote: »
    No I'm not.
    Homeless?...
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bylromarha wrote: »
    Is this new news then?

    We're putting our mums house on the market in a few weeks. EAs we had round before Cmas all said the same thing - that the prices "may" get back to pre recession peak in 5 years time, but realistically it'll be 10 years at least.

    Depends where you live.

    Prices round my way have already exceeded pre recession peak.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Percy1983
    Percy1983 Posts: 5,244 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    wymondham wrote: »
    you can only blame the person buying - obviously they thought the price was 'correct'?


    I am not sure, I think many where buying before it got worse, infact in the buying freenzy to not miss the boat they where pushing the boat out further.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • Mr._Pricklepants
    Mr._Pricklepants Posts: 1,311 Forumite
    ILW wrote: »
    Homeless?...


    Sorry ILW, wrong again.
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